Laxmi Organic Industries Ltd
LXCH

Laxmi Organic Industries Ltd (LXCHEM)

₹342.250.72%

Key Stats

₹339.15
Day's Price Range
₹347.5
₹212.7
52-Week Price Range
₹628
1 Month Return-20.48 %
3 Month Return-16.08 %
1 Year Return52 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 62
34.53
EPS
Rank 57
₹9.84
BVPS
Rank 72
₹39.24
Dividend Yield
Rank 59
0.28%
ROE
Rank 59
16.5%
Price To Book Ratio
Rank 66
8.65
Debt To Asset
Rank 48
0.43

Company Information

Laxmi Organic Industries Limited was incorporated as a public limited company on May 15 1989. The Company received a certificate for commencement of business on December 20 1989. The Company is a leading manufacturer of Acetyl Intermediates and Specialty Intermediates with almost three decades of experience in large scale manufacturing of chemicals. Since its inception in 1989 the company has been on a journey of transformation. The Company initially started manufacturing acetaldehyde and acetic acid in 1992 and soon thereafter moved on to manufacturing of ethyl acetate in 1996. The Company is currently among the largest manufacturers of ethyl acetate in India with a market share of approximately 30 of the Indian ethyl acetate market. Further post completion of the YCPL Acquisition the market share in the ethyl acetate market will be further enhanced. In 2010 the company commenced manufacturing the Specialty Intermediates by acquiring Clariants diketene business. The Company believes that the diversification of its product portfolio into varied chemistries in Specialty Intermediates has enabled it to create a niche for itself. The Company is the only manufacturer of diketene derivatives in India with a market share of approximately 55 of the Indian diketene derivatives market in terms of revenue in Fiscal 2020 and one of the largest portfolios of diketene products. The Companys products are currently divided into two broad categories namely the Acetyl Intermediates and the Specialty Intermediates. The Acetyl Intermediates include ethyl acetate acetaldehyde fuelgrade ethanol and other proprietary solvents while the Specialty Intermediates comprises of ketene diketene derivatives namely esters acetic anhydride amides arylides and other chemicals. These products find application in various highgrowth industries including pharmaceuticals agrochemicals dyes pigments inks coatings paints printing packaging flavours fragrances adhesives and other industrial applications. The Company also proposes to diversify into manufacturing of specialty fluorochemicals to which end the company has recently acquired assets including plant machinery design and operating paperwork REACH registrations and patents of Miteni a manufacturer of organic fluorospecialties and electrochemical fluorination. The Company believes it is well placed to enter into the high margin specialty fluorochemicals space through this acquisition. According to the Frost Sullivan Report given its expertise in the Acetyl Intermediates and the Specialty Intermediates segments its entry into the fluorochemicals space will put the company at a differentiated position from other chemicals manufacturers. Over the years the company has significantly expanded its scale of operations and global footprint with customers in over 30 countries including China Netherlands Russia Singapore United Arab Emirates United Kingdom and United States of America. The Company has established longstanding relationships with marquee players including Syngenta Asia Pacific Pte. Ltd. Alembic Pharmaceuticals Limited Covestro India Private Limited Dr. Reddys Laboratories Limited Flint Group India Private Limited Granules India Limited Hetero Labs Limited Heubach Colour Private Limited Hubergroup India Private Limited Huhtamaki India Limited Laurus Labs Limited Macleods Pharmaceuticals Private Limited Mylan Laboratories Limited Neuland Laboratories Limited Parikh Packaging Private Limited Suven Pharmaceuticals Limited Colourtex Industries Private Limited and UPL Limited. The Company has offices in Leiden Netherlands Shanghai China and Sharjah United Arab Emirates which enables it to assess international demand and increase its customer outreach thereby bolstering its product development initiatives. The Company also has arrangements with third parties for usage of storage tanks in inter alia Mumbai for storage of raw materials and finished goods and Rotterdam Netherlands Antwerp Belgium and Genoa Italy for storage of finished products which enables the company to deliver its products on short notice. The Company has been the largest exporter of ethyl acetate from India in the six months ended September 30 2020 and Fiscals 2020 2019 and 2018 and one of the largest exporters of ethyl acetate to Europe from India since 2012. The Company currently has two manufacturing facilities in Mahad Maharashtra the Manufacturing Facilities with one facility dedicated to Acetyl Intermediates the AI Manufacturing Facility and another dedicated to Specialty Intermediates the SI Manufacturing Facility which are strategically located in proximity to several ports and each other. As at September 30 2020 the aggregate installed production capacity at the AI Manufacturing Facility was 161320 MTPA while the aggregate installed production capacity at the SI Manufacturing Facility was 78045 MTPA. The Company is also in the process of acquiring YCPL having an aggregate installed production capacity of 10500 MTPA of acetaldehyde and 29200 MTPA of ethyl acetate as on September 30 2020. The Company also has two distilleries located in Satara district the Jarandeshwar Distillery and Kolhapur district in Maharashtra the Panchganga Distillery and together with the Jarandeshwar Distillery the Distilleries for the manufacturing of ethanol or specially denatured spirit. As at September 30 2020 the Jarandeshwar Distillery had an installed production capacity of 8100 KLPA while the Panchganga Distillery had an installed production capacity of 9112 KLPA. The ethanol manufactured at the Distilleries is primarily consumed at the AI Manufacturing Facility and the SI Manufacturing Facility for the manufacturing of fuelgrade ethanol ethyl acetate and certain Specialty Intermediates including several downstream products. Further the company is in the process of setting up a manufacturing facility at Lote Parshuram Maharashtra for manufacturing fluorospecialty chemicals the Proposed Facility. The Company has two Department of Scientific and Industrial Research Government of India DSIR recognised research and development facilities with stateoftheart research and development infrastructure to synthesise specialty molecules and advanced intermediates.
OrganisationLaxmi Organic Industries Ltd
HeadquartersRaigad
IndustryChemicals