Chemcon Speciality Chemicals Limited was originally incorporated as a private limited company in December 1988 in Ahmedabad, Gujarat, and later converted to a public limited company in April 2019. The company is a leading manufacturer of specialized chemicals such as Hexamethyldisilazane (HMDS) and Chloromethyl Isopropyl Carbonate (CMIC) which are predominantly used in the pharmaceuticals industry, and inorganic bromides predominantly used as completion fluids in the oilfield industry.
The company is the largest manufacturer of specialized chemicals like HMDS and CMIC, predominantly used in the pharmaceutical industry. It is an ISO 9001:2015 and ISO 14001:2015 certified manufacturer of silanes, pharma intermediates, agro intermediates, and oil field chemicals. Chemcon is recognized as one of the reliable partners for completion brines and stands as the largest manufacturer of calcium bromide in India.
Chemcon is primarily engaged in producing pharmaceutical intermediates and oil well completion chemicals (completion fluids). The company's specialized chemical portfolio includes:
- Pharmaceutical Intermediates: Hexamethyl Disilazane (HMDS), Chloromethyl Isopropyl Carbonate (CMIC), Trimethyl Chlorosilane (TMCS), Hexamethyl Disiloxane. These are critical components for the pharmaceutical industry.
- Oilfield Chemicals: Inorganic bromides such as Zinc Bromide and Calcium Bromide (liquid and powder forms), Sodium Bromide Solution. These are used as completion fluids in the oilfield industry.
- Silanes: Hexamethyl Disilazane, Trimethyl Chlorosilane, Hexamethyl Disiloxane.
The company also provides contract manufacturing services for various chemical products.
The company's manufacturing plants are located at Manjusar, Vadodara in Gujarat. Chemcon operates with eight individual operational plants, six warehouses, and an in-house laboratory, supported by an ERP system for efficient supply chain management.
Key manufacturing developments include:
- In 2022, the company initiated production of CMIC and TMCS at its P8 facility at Manjusar, significantly increasing its capacities.
- The production capacity for TMCS was increased to 2,400 MTPA.
- The production capacity for CMIC reached 3,000 MTPA, making Chemcon the largest manufacturer of CMIC globally.
- In 2023-24, the company started mechanical construction of two more plants at the same location, dedicated to other pharmaceutical intermediate products.
Chemcon Speciality Chemicals supplies its products to a wide range of domestic customers across India. Additionally, the company has a strong global presence, exporting its specialized chemicals to numerous countries worldwide. Its key export markets include:
- United States of America
- Italy
- South Korea
- Germany
- People's Republic of China
- Japan
- United Arab Emirates
- Serbia
- Russia
- Spain
- Thailand
- Malaysia
Chemcon Speciality Chemicals Ltd (CHEMCON) maintains a market capitalization of ₹742.03 Crore as of 10th June 2025.
Annual Performance (FY2024-25 vs FY2023-24):
- Net Profit: Rose 27.41% to ₹24.45 crore in FY2024-25, compared to ₹19.19 crore in FY2023-24.
- Sales: Declined 22.35% to ₹207.40 crore in FY2024-25, compared to ₹267.09 crore in FY2023-24.
Quarterly Performance (Q4 FY2024-25 vs Q4 FY2023-24):
- Net Profit: Rose 36.21% to ₹3.95 crore in Q4 FY2024-25, compared to ₹2.90 crore in Q4 FY2023-24.
- Sales: Declined 7.89% to ₹54.89 crore in Q4 FY2024-25, compared to ₹59.59 crore in Q4 FY2023-24.
Quarterly Performance (Q3 FY2024-25 vs Q3 FY2023-24):
- Net Profit: Rose 98.42% to ₹8.81 crore in Q3 FY2024-25, compared to ₹4.44 crore in Q3 FY2023-24.
- Sales: Rose 2.66% to ₹54.39 crore in Q3 FY2024-25, compared to ₹52.98 crore in Q3 FY2023-24.
- Market Capitalization: ₹742.03 Crore (as of June 2025)
- P/E (Price-to-Earnings) Ratio: 30.35
- 52-Week High: ₹298.30
- 52-Week Low: ₹160
- Sales Growth (past 5 years): -4.57% (indicating a poor sales growth trend)
- Return on Equity (ROE, last 3 years): 7.05% (considered low)
- Debt Status: The company is almost debt-free, indicating a strong balance sheet.
Kamalkumar Rajendra Aggarwal serves as both the Chairman and Managing Director of Chemcon Speciality Chemicals Limited, providing consistent leadership to the company.
As of December 2024, the ownership structure is as follows:
- Indian Promoters: 74.47%
- Public: 25.53%
Chemcon Speciality Chemicals has evolved significantly since its inception:
- 1995-1998: The company commenced its initial sales of various chemical products, including Pyridine Hydrobromide, Para Nitro Benzyl Bromide, Methyl Iodide, and GA-1.
- 2001: Production of Hexamethyldisilazane (HMDS) was successfully initiated.
- 2003: Certain products were discontinued due to lower market demand, streamlining the product portfolio.
- 2005: The first export shipment of HMDS marked a significant step towards global market presence.
Chemcon Speciality Chemicals represents a significant player in the specialized chemicals sector, particularly in pharmaceutical intermediates and oilfield chemicals. While the company has experienced challenges with declining sales growth over recent years, it maintains a strong market position as the largest manufacturer of key specialized chemicals in India and continues to expand its production capacity to meet growing demand. Its debt-free status provides a solid financial foundation for future growth and strategic initiatives.
