Laxmi Organic Industries Limited, the flagship entity of the Goenka Group, stands as a prominent specialty chemical manufacturer in India. Established in 1989, the company has carved a niche over its three-decade journey, operating from its base in Mumbai, India. Laxmi Organic Industries Limited is a publicly listed company, having completed its Initial Public Offering (IPO) in 2021, and is traded on both the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE).
The company's core business revolves around the specialized manufacturing of two key segments: Acetyl Intermediates and Specialty Intermediates. This strategic focus allows them to cater to a diverse range of industries with tailored chemical solutions.
This segment encompasses essential products such as Ethyl Acetate, Acetic Anhydride, Acetaldehyde, various solvents, ethanol, and n-Butyl/Ethyl Acetate. These products serve as crucial raw materials and intermediates for sectors including pharmaceuticals, packaging, and general industrial applications. Notably, Laxmi Organic Industries is the largest manufacturer of Ethyl Acetate in India, holding a significant market share of 30% in the domestic ethyl acetate market.
The company's foray into Specialty Intermediates began in 2010 with innovation in ketene and diketene derivatives. This segment now includes esters, amides, arylides, and fluorospeciality Intermediates. Laxmi Organic Industries is a leader in the Indian diketene derivatives market, commanding a 55% market share by revenue. The technology and business for Diketene Derivative Products (DDP) were acquired from Clariant Chemicals India Limited, further strengthening their expertise in this domain.
The diverse product portfolio of Laxmi Organic Industries finds application across a wide spectrum of industries. Key end-user sectors include:
- Pharmaceuticals
- Agrochemicals
- Flexible Packaging
- Auto Coatings
- Printing Inks
- Personal Care
- Cosmetics
- And various other industrial applications.
The company's reach extends globally, with a customer base spanning over 30 countries. This international presence is supported by 11 offices located within India, facilitating efficient operations and market penetration.
Laxmi Organic Industries operates a robust manufacturing base comprising:
- Two manufacturing facilities
- Two distilleries
Furthermore, the company is actively expanding its production capabilities. They have recently received a factory license for a new synthetic organic chemicals manufacturing facility in Dahej, Gujarat. This expansion is a critical step in their growth strategy, enhancing their capacity to meet the increasing demand for specialty chemicals.
- Market Cap: ₹5,364 Crore (as of July 2025)
- Q4 FY25 Performance:
- Revenue: ₹709.69 Crore
- Net Profit: ₹21.76 Crore
- _Note: The company experienced a 50.89% decline in consolidated net profit and a 10.39% decrease in revenue in Q4 FY25 compared to the previous year, primarily due to prevailing market challenges._
- Q3 FY25 Performance:
- Revenue: ₹786.3 Crore (a 13.3% year-on-year increase)
- EBITDA: ₹74.8 Crore (a 59.1% year-on-year increase)
- _The company demonstrated a stronger performance in Q3 FY25, indicating resilience and recovery._
- FY2023-24 Performance:
- Total Income: ₹2,865.01 Crore
- Profit: ₹120.54 Crore
- Trailing Twelve Months (TTM) Profit After Tax: ₹136 Crore
- Promoter Holding: 69.4% (as of March 2025)
- The promoter holding has remained stable, with a slight decrease from 69.55% in June 2024 to 69.38% in March 2025.
- Importantly, there is no promoter pledging in Laxmi Organic Industries Limited, signifying strong confidence and commitment from the promoters.
- Chairperson: Ravi Goenka
- Managing Director: Rajan Venkatesh
- Laxmi Organic Industries Limited is a subsidiary of Yellow Stone Trust.
- Listing Date: March 25, 2021
- The company is listed on The National Stock Exchange of India Limited (NSE) and BSE Limited (BSE).
_(Note: Valuation metrics are subject to daily market fluctuations. The following are based on the provided date.)_
- Price-to-Book (P/B) Ratio: 2.81 times (as of May 19, 2025)
- This represents an 8% discount to its peers' median range of 3.19 times.
- Price-to-Earnings (P/E) Ratio: 40.50 times (as of May 19, 2025)
- This represents a 10% premium to its peers' median range of 36.83 times.
Laxmi Organic Industries is strategically focused on expanding its manufacturing capabilities and diversifying its product portfolio. The recent Environmental Clearance for a new synthetic organic chemicals unit in Dahej, Gujarat, is a testament to this commitment. The company is well-positioned to capitalize on the burgeoning demand for specialty chemicals across various end-user industries. With its established market presence, strong customer relationships, and ongoing capacity expansion initiatives, Laxmi Organic Industries is set for sustained long-term growth in the dynamic Indian chemical sector.
