You’re venturing into the vast world of India’s chemical industry, and it’s time to get acquainted with the top players in this dynamic sector. From pharmaceuticals to petrochemicals, these giants hold a significant place not just in India but on the global stage as well.
As you delve deeper, you’ll find that these companies are at the forefront of chemical innovation. They’re transforming industries with their groundbreaking research and commitment to sustainability. Each one has carved out a niche for itself, contributing significantly to India’s economic growth and standing tall among global competitors.
In the following sections, we’ll take an in-depth look at each of these powerhouses – their journey, achievements and what sets them apart. Whether you’re an investor eyeing opportunities or simply curious about this thriving industry, our list of Top 10 Chemical Companies in India will provide invaluable insights. So let’s dive right in!
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Chemical industry in India
- India is ranked 6th in the global chemical industry and has a market size of over 180 billion dollars.
- The chemical industry in India is expected to grow at a CAGR of 12% over the next five years.
- The top chemical companies in India include BASF India Ltd, United Phosphorus Limited (UPL), Tata Chemicals, Pidilite Industries, and Aarti Industries Ltd.
- BASF India Ltd is the biggest chemical company in the world and is involved in producing various agriculture-based chemicals, leather chemicals, Styropor, tanning agents, and many other products.
- UPL is the biggest among the top chemical companies in India.
- Pidilite Industries is a leading manufacturer of adhesives and sealants, construction chemicals, and consumer products.
- Aarti Industries Ltd is a leading manufacturer of benzene-based intermediates, specialty chemicals, and pharmaceuticals.
Chemical Companies in India
- Tata Chemicals Limited
- Reliance Industries Limited
- UPL Limited
- BASF India Limited
- SRF Limited
- PI Industries
- Aarti Industries Limited
- Deepak Nitrite Limited
- Gujarat Alkalies and Chemicals Limited
- Gujarat Fluorochemicals Limited
| Company Name | Revenue (in ₹ crores) 2022 |
|---|---|
| Tata Chemicals Limited | 16,789 |
| Reliance Industries Limited | 7.92 Lakh |
| UPL Limited | 53,576 |
| BASF India Limited | 13,644 |
| SRF Limited | 14,870 |
| PI Industries | 7,032 |
| Aarti Industries Limited | 7,283 |
| Deepak Nitrite Limited | 6,845 |
| Gujarat Alkalis and Chemicals Limited | 3,762.2 |
| Gujarat Fluorochemicals Limited | 5,803 |
- Tata Chemicals Limited
- Revenue: ₹16,789 crores
- Profit: ₹2,335 crores
- Reliance Industries Limited
- Revenue: ₹7.92 Lakh crores
- Profit: ₹67,845 crores
- UPL Limited
- Revenue: ₹53,576 crores
- Profit: ₹3,569 crores
- BASF India Limited
- Revenue: ₹13,644 crores
- Profit: ₹860 crores
- SRF Limited
- Revenue: ₹14,870 crores
- Profit: ₹2,162 crores
- PI Industries
- Revenue: ₹7,032 crores
- Profit: ₹1,229 crores
- Aarti Industries Limited
- Revenue: ₹7,283 crores
- Profit: ₹545 crores
- Deepak Nitrite Limited
- Revenue: ₹6,845 crores
- Profit: ₹819 crores
- Gujarat Alkalis and Chemicals Limited
- Revenue: ₹3,762.2 crores
- Gujarat Fluorochemicals Limited
- Revenue: ₹5,803 crores
- Profit: ₹1,016 crores
1. Tata Chemicals Limited
Tata Chemicals Limited, headquartered in Mumbai, India, is a powerhouse in the Indian chemical industry. Established back in 1939 as part of the Tata Group conglomerate, this company has grown and expanded significantly over the years. It initially set foot on international soil in 2005 through acquiring stakes in IMACID, a Moroccan phosphate company. The following year saw another major expansion with the acquisition of UK-based Brunner Mond Group, catapulting them to become the 2nd largest global producer of soda ash.
The numbers speak for themselves when it comes to Tata Chemicals’ performance. With revenues touching ₹16,789 crore (US$2.1 billion) and profit margins around ₹2,335 crore (US$290 million), they’re clearly leading players within their industry. They’ve got an impressive workforce too – approximately 4,600 employees spread across four continents.
They offer a wide range of products including basic chemistry products like soda ash, sodium bicarbonate and salt along with speciality chemistry items such as agrochemicals and nutraceuticals. These diverse offerings have attracted key clients from various industries including glass manufacturers, detergent makers and textile companies.
Tata Chemicals isn’t just focused on today’s market needs; they’re also investigating future possibilities through their innovation centres based out of Pune and Bengaluru. Here they dive deep into emerging areas such as nanotechnology and biotechnology which could revolutionise aspects of our lives.
In fact, Deloitte recognised them as one of India’s Best Managed Companies in 2022 – an award that truly highlights their dedication towards delivering top-notch services while managing business operations effectively.
Tata Chemicals’ influence extends beyond its headquarters through strategic partnerships and acquisitions around the globe. Noteworthy collaborations include partnering up with Chambal Fertilisers and OCP Morocco in Indo-Maroc Phosphore SA (IMACID) and the acquisition of General Chemical Industrial Products (GCIP) in the US back in 2008. The company’s major subsidiaries include Rallis India Limited and Tata Chemicals North America Inc.
Being the world’s third-largest producer of soda ash, they hold around 15% of the global market share. So next time you look at a glass window or wash your clothes with detergent, remember there’s a good chance that Tata Chemicals had a hand in creating some of those essential ingredients!
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2. Reliance Industries Limited
Stepping into the world of India’s major chemical companies, we’re met by Reliance Industries Limited. This colossal firm has a revenue that soars to Rs 7.92 lakh crore ($104 billion), with profits not far behind at an impressive Rs 67,845 crore ($8.9 billion). They’ve built this thriving empire on the back of over 350,000 dedicated employees.
Their line-up of products and services is as diverse as it’s vast. At its core are oil and gas exploration, production initiatives, petroleum refining and marketing efforts. The company also deals in petrochemicals like polymers, polyesters and elastomers while offering digital services across telecom, media and retail sectors too.
Among their key clients are Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum along with international clients scattered across more than 100 countries worldwide. From their headquarters nestled in Mumbai, Maharashtra they direct operations that have earned them several notable achievements.
On Fortune Global 500 list in 2022 alone they ranked a commendable 104th spot making them one of India’s most profitable companies. Further testament to their success is the fact that they account for a whole 6% of India’s total merchandise exports.
They’ve been involved in projects such as their partnership with Saudi Aramco for an oil-to-chemicals project or acquiring Future Group’s retail assets which have significantly bolstered their portfolio. Their journey started back in 1966 when Dhirubhai Ambani founded what was then called Reliance Commercial Corporation.
Over time they’ve managed to carve out a formidable market share for themselves with a solid hold over the organised retail market (33%) and polyester market (50%) within India itself.
The company is also investing heavily into R&D to keep abreast of emerging trends – during financial year ’21-’22 alone they spent Rs 805 crore focusing on new materials and energy storage. And the industry has noticed their efforts too: The Economic Times conferred them with ‘Company of the Year’ in 2021 and Fast Company named them ‘Most Innovative Company’ in India for that year.
Reliance Industries Limited is also parent to several subsidiaries like Jio Platforms, Reliance Retail, Reliance Jio Infocomm while holding stakes in companies like Eros International, Viacom18. They’ve even enlisted popular faces like Deepika Padukone and Akshay Kumar as brand ambassadors to further strengthen their public image.
3. UPL Limited
Let’s delve into the details of UPL Limited, one of India’s top chemical giants. With a revenue hovering around Rs 53,576 crore (US$6.7 billion) and a net profit of Rs 3,569 crore (US$450 million), it’s clear that this company is no small player in the industry. It champions the employment of more than 13,000 individuals and has built a robust portfolio over time.
Known for their expertise in agrochemicals such as insecticides, fungicides and herbicides to name but a few, they’ve broadened their scope to include seeds and post-harvest solutions along with industrial chemicals. Their clientele base stretches from farmers to agribusinesses and extends further to distributors and retailers.
Founded back in 1969 as United Phosphorus Limited, UPL has grown from strength to strength under its rebranded identity since 2013. Headquartered in Mumbai, Maharashtra, they have consistently shown remarkable growth; both domestically where they hold an impressive market share of 25%, and on an international scale securing their place within the top five global agrochemical companies.
Notable collaborations such as those with IBM for a digital agriculture platform or Corteva Agriscience for new fungicide molecules are testaments to their forward-thinking approach.
They’ve made waves through aggressive expansion strategies too – acquiring companies like Arysta LifeScience in 2019 being one example among many others since their rebranding. Going beyond just business operations they’re also committed towards research & development investing over US$200 million annually with R&D centres scattered across India, Japan, Netherlands and USA.
Over time UPL has been recognised multiple times for its contribution to the industry being named twice on Forbes Asia’s Best Under a Billion list (2005, 2006) and earning the prestigious Greentech Environment Award (2018). All of this wouldn’t have been possible without the passion & dedication of their teams worldwide, including notable persons such as Sachin Tendulkar who serves as a brand ambassador.
To sum up UPL Limited’s journey so far – it’s a tale of growth, strategic partnerships and an unyielding commitment towards delivering excellence.
4. BASF India Limited
Diving into the world of chemical industries, it’s hard to overlook BASF India Limited. Founded in 1943, this Mumbai-based company is a frontrunner in its domain, with a revenue of Rs 13,644 Crores (USD 1.8 billion) and a profit after tax amounting to Rs 860 Crores (USD 114 million). Spread across multiple sectors, they employ over 2,311 dedicated professionals.
Their extensive product range includes Agricultural Solutions like crop protection products and seeds; Materials such as engineering plastics, foams and dispersions; Chemicals including petrochemicals, catalysts and solvents. They’re also prominent players in Surface Technologies offering automotive and industrial coatings along with Nutrition & Care products like vitamins, enzymes and personal care items.
BASF’s key clientele primarily comprises of big names from the automotive industry, agriculture sector along with construction companies and consumer goods manufacturers. Their market presence is significant too – they’re among the top three companies in the crop protection market as well as being listed among the top five in construction chemicals market.
The company has achieved some notable milestones over time. The successful completion of their Dahej site construction in Gujarat without any loss time injuries stands testament to their commitment towards safety. Additionally, their AgGenie mobile app has garnered over 50,000 downloads since launch.
Not just limited to its operations within India – BASF has made strategic partnerships that have led to significant developments such as their collaboration with Excel Industries for crop protection solutions or teaming up with Nunhems for hybrid vegetable seed development.
R&D forms an integral part of BASF’s growth strategy – evident from their Innovation Campus in Mumbai and Coatings Lab in Mangalore coupled with an R&D expenditure of Rs 190 Crores in 2022 alone!
They’ve even been recognised for their exceptional work environment by receiving certifications such as ‘Great Place to Work’ and ‘India’s Best Employers among Nation-Builders’.
BASF India has also made some strategic acquisitions over time, including BASF Chemicals India, Chemetall India, Nunhems India and a joint venture with BASF SE through BASF Catalysts India. Their brand presence is further bolstered by Bollywood actor Ranveer Singh who serves as their brand ambassador.
5. SRF Limited
Let’s talk about SRF Limited, a major player in the chemical industry. With an impressive revenue of ₹14,870 crore (US$1.8 billion) and a profit of ₹2,162 crore (US$267 million), it’s clear that this company is a significant contributor to India’s economy. This success is backed by their dedicated team of over 8,000 employees stationed worldwide.
SRF provides various products and services such as technical textiles including nylon and polyester tyre cord fabrics, belting fabrics and coated fabrics. To know more about the key players in the tyre manufacturing sector, check out these leading tyre companies in India. They’re also big in specialty chemicals like fluorochemicals and agrochemical intermediates while contributing to the packaging industry with BOPET films. Their key clients include global tyre manufacturers along with big-name agrochemical companies like Bayer, BASF, Syngenta and food & packaging companies.
Based out of Gurugram in Haryana, India, they’ve carved quite a name for themselves on the international market since they were founded back in 1970. They entered into the specialty chemicals business in 2004 and went public just seven years after their inception – in 1977
Forbes Asia named them one of the ‘Best Under A Billion’ companies back in 2011. More recently they snagged the National Energy Conservation Award this year -2022! They take pride not only in their achievements but also tie-ups with esteemed organisations; notably there’s been a joint venture with DuPont to manufacture fluoropolymers plus collaboration with Invista for nylon tyre cord fabric technology.
Consistently innovating within its field has led them to be among top three manufacturers globally for nylon tire cord fabrics and positioned within the top ten for BOPET packaging films globally. R&D forms an integral part at SRF; they applied for no less than 406 patents till now- eight alone this year! They even established a new R&D centre in 2018.
Just this year they were declared a ‘Great Place to Work’ and awarded the Golden Peacock Award for Sustainability in 2021. Their growth story extends beyond borders with strategic acquisitions like South Africa’s Flexipak in 2015 and Hungary’s Reifenhauser in 2018.
Cricketer Ravichandran Ashwin is their brand ambassador, representing technical textiles. SRF Limited truly reflects how far hard work, innovation, and smart strategy can take you.
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6. PI Industries
PI Industries, renowned for its high-quality agrochemical products and services, is a market leader in India. In 2022, this well-established firm posted impressive financial figures with a revenue of Rs 7,032 crore and profit amounting to Rs 1,229 crore.
Employing around 3,500 individuals across various departments, PI Industries excels in Contract Research and Manufacturing Services (CRAMS), producing agrochemicals like herbicides, insecticides and fungicides. It’s also known for manufacturing plant nutrients that are essential for crop growth.
With headquarters located in Gurugram, Haryana; PI Industries boasts an extensive client base including global agrochemical heavyweights such as BASF, Bayer and Syngenta. They’ve also worked with electronics giants like Bosch.
Their notable achievements are certainly worth mentioning. The company ranks among the top five Indian agrochemical companies and holds the title of being the largest agrochemical contract research and manufacturing company on a global scale.
Among their celebrated partnerships stands out their collaborative research lab with Bosch established in 2019. Plus they hold long-term contracts with major players in the global agro-industry for new product development.
The foundations of PI Industries were laid back in 1947 under the name Western India Phosphate and Fertilizers Limited based in Udaipur Rajasthan. Decades later they underwent rebranding to become what we now know as PI industries limited which happened in 1993.
A robust player within its sector; it enjoys a significant market share amongst top Indian agrochemical companies while maintaining a strong focus on R&D across processes involving green chemistry & cost optimization at their facilities located at Udaipur & Gujarat respectively.
Awards & recognitions have been many but ‘Agriculture Leadership Award’ bagged by them during 2013 & ‘Golden Peacock Award for Sustainability’ in 2021 are some of the prominent ones.
The growth journey of PI Industries also includes strategic acquisitions & development of subsidiaries. One such instance was the acquisition of Isagro Asia in 2019. They also operate a subsidiary named PI Life Sciences Research Limited.
At the helm of this successful enterprise are notable personalities like Salil Singhal, serving as Chairman and MD and Mayank Singhal, holding the position of Vice Chairman and MD who continue to steer PI Industries towards newer heights.
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7. Aarti Industries Limited
Aarti Industries Limited, headquartered in the bustling city of Mumbai, Maharashtra, has made its mark in the Indian chemical industry. Established back in 1975, it’s grown from being a local manufacturer to becoming a global player with state-of-the-art manufacturing facilities right here on home turf. With over four decades of experience under its belt and an extensive portfolio of basic chemicals, agrochemicals, specialty chemicals and intermediates – this company is certainly not one to be overlooked.
Financially speaking, Aarti Industries reported impressive numbers for FY 2022-23. The firm bagged a revenue of ₹7,283 crores while their Profit After Tax (PAT) came up to ₹545 crores during that fiscal year. These figures reflect the substantial growth and profitability that the company has achieved over time.
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| Fiscal Year | Revenue (in ₹ crores) | PAT (in ₹ crores) |
|---|---|---|
| 2022-23 | 7,283 | 545 |
When it comes down to workforce strength – They’ve got an army of over 7,100 employees who are collectively working towards achieving the company’s goals.
Serving more than 400 global customers and around 700 domestic ones across various sectors such as agrochemicals, pharmaceuticals polymers etc., there’s no denying Aarti Industry’s expansive reach within the chemical industry.
In addition to their business operations and client servicing capabilities – they’ve also been making strides in research and development. With a dedicated research centre focusing on R&D and innovation – they’re constantly looking for ways to improve their products and services.
One noteworthy project that deserves mention is their commercialised units at Dahej SEZ catering to long-term contracts which are projected to incrementally add to the company’s revenue in FY 2022-23. Also, worth noting is their recent acquisition of a 2.91% stake in Mitsu Chem Plast in April 2021, further expanding their business horizons.
In summary, Aarti Industries Limited, From its impressive financial performance to its dedicated workforce and commitment towards R&D – there are several reasons why this firm deserves the spotlight.
8. Deepak Nitrite Limited
Stepping into the realm of chemical companies, let’s take a closer look at one that’s making waves in India – Deepak Nitrite Limited. This powerhouse has been on an impressive growth trajectory, clocking in a revenue of Rs 6,845 crore and profit of Rs 819 crore for FY 2022. With around 1,500 employees working round-the-clock to accelerate its progress, it’s no wonder this company is going from strength to strength.
The product portfolio of Deepak Nitrite spans from sodium nitrate and nitro toluidines to fuel additives and rubber chemicals. Their remarkable range includes agrochemicals, optical brightening agents and aroma chemicals too. They’re also working with some big names in the industry including over 50 Fortune 500 companies like BASF, Bayer, Syngenta, DuPont and Clariant.
This Vadodara-based giant have extended their reach beyond Indian borders through strategic partnerships such as their joint venture with Oman Oil Company for a sodium nitrate project in Oman and collaboration with BASF for sodium nitrite and nitro toluene production.
Founded by C.K Mehta back in 1970 and publicly listed less than two decades later, Deepak Nitrite Limited has grown leaps-and-bounds since its inception. Notably owning a whopping 70% market share as the largest producer of sodium nitrite and sodium nitrate within India while being among top three producers globally.
Their commitment towards innovation is further highlighted through their research & development centres located at Nandesari and Hyderabad where focus lies on developing new chemistries along with cost optimisation exercises. They were recognised as Global Compact Network India Company by United Nations Global Compact besides bagging Responsible Care Company of the Year Award in 2013.
Deepak Nitrite has also shown a keen interest in strategic acquisitions and partnerships to expand their business. They wholly own subsidiaries including Deepak Phenolics Limited and Deepak Nitrite Corporation, and marked a significant milestone by acquiring Mahadhan in 2011. Though they don’t have any major brand ambassadors, the company’s success speaks for itself with notable figures like Chairman and MD, Deepak C. Mehta and Vice Chairman & CEO, Maulik D. Mehta guiding the ship towards greater heights.
9. Gujarat Alkalies and Chemicals Limited
Delving into India’s chemical space, your attention is bound to fall on a heavyweight like Gujarat Alkalies and Chemicals Limited (GACL). Promoted by the Government of Gujarat, this powerhouse has solidified its position with an impressive revenue of ₹3,762.2 crore (US$470 million) as of 2022.
GACL employs around 1,140 people who are instrumental in maintaining its stronghold in the industry. Their headquarters is located in Vadodara, Gujarat, India.
You may wonder about their product range. Well, it’s diverse! They’re known for manufacturing chemicals like:
- Caustic soda
- Hydrochloric acid
- Phosphoric acid
- Potassium carbonate
- Hydrogen peroxide
- Chlorine gas
From dealers to exporters spanning across different industries, GACL stands tall as a trusted provider. But that’s not all they’ve been up to. GACL has received the ‘National Energy Conservation Award’ from no less than the Bureau of Energy Efficiency (BEE), Ministry of Power, and Government of India itself. That shows significant recognition for their efforts towards energy conservation.
GACL has teamed up with NTPC Renewable Energy Limited (NTPC REL) for what will be India’s first green ammonia and green methanol project.
They have a subsidiary company by the name GACL-NALCO Alkalies and Chemicals Pvt Ltd (GNAL).
10. Gujarat Fluorochemicals Limited
Let’s delve into the world of Gujarat Fluorochemicals Limited, one of India’s top chemical companies. In the fiscal year 2022, it reported a revenue of Rs 5,803 crore and a healthy profit of Rs 1,016 crore. With nearly 2,000 employees under its umbrella as of 2022, this company stands tall in India’s fluoropolymer industry.
Gujarat Fluorochemicals is known for manufacturing various fluoropolymers such as PTFE (Polytetrafluoroethylene), PFA (Perfluoroalkoxy alkanes), FEP (Fluorinated ethylene propylene), along with some specialty chemicals and refrigerants. It caters to diverse industries including automotive, aerospace, food processing, pharmaceuticals and oil & gas. This wide client base adds to its robust business model.
Originally named Inox Fluorochemicals Limited at its inception in 1987, the company rebranded itself as Gujarat Fluorochemicals Limited in 2019. Its headquarters are located in Noida, Uttar Pradesh.
Gujarat Fluorochemicals has made its mark on the global stage too. It’s among the largest producers and exporters of fluoropolymers worldwide – certainly an achievement worth mentioning! The company’s recent expansion into new products like PVDF (Polyvinylidene fluoride), FKM (Fluorocarbon elastomers) and PPA (Polyphthalamide) further testifies to their innovative approach.
Speaking about innovation brings us to their R&D department which boasts strong capabilities in fluorine chemistry. They’ve been pioneers in developing new grades of PTFE, PFA and FEP – contributing significantly towards advancing fluoropolymer technology.
A noteworthy partnership that deserves mention is their technology collaboration with Arkema France. This has enabled Gujarat Fluorochemicals to develop specialty fluoropolymers, further strengthening its position in the market.
Recognition for their efforts came in 2022 when they bagged the prestigious Golden Peacock Award for Innovative Product – a testament to their commitment towards innovation and quality. The company also has a subsidiary, GFCL EV Products Limited, which focuses on the Electric Vehicle value chain, demonstrating their forward-thinking approach.
In summary, Gujarat Fluorochemicals Limited’s journey from its inception to being one of India’s top chemical companies is an inspiring tale of innovation, growth and global recognition.
Conclusion on Chemical Companies in India
Having delved into the world of chemical companies in India, it’s clear you’re now knowledgeable about some of the leading players. These ten firms represent a varied range of services and products, with each one making significant contributions to the Indian economy.
With this information at your fingertips, you’ve got plenty to consider when looking at India’s chemical industry. Whether it’s Tata Chemicals with their wide-ranging portfolio or Pidilite Industries known for their adhesive brands, all have unique offerings that set them apart.
However, it’s also important to remember that while these companies are thriving today, success in the chemical industry isn’t guaranteed. It requires constant innovation and adaptability due to fluctuating market demands and regulatory changes. So if you’re considering investing or starting a career in this sector, be prepared for an environment that’s both challenging and rewarding.
In essence, The Indian chemical industry is vibrant and filled with opportunities waiting to be discovered by those willing to dive deep!
In addition to these major chemical companies, India is also home to specialized firms. Explore these specialty chemical companies in India for a deeper understanding of the industry.
