Vishnu Chemicals Limited, incorporated in 1989, is a prominent Indian manufacturer, marketer, and exporter of Chromium chemicals and Barium compounds. Headquartered in Hyderabad, the company serves over 12 industries across 57 countries globally. Founded in 1990 by Ch. Krishna Murthy, Vishnu Chemicals has evolved from a basic Chromium producer to a diversified manufacturer of a wide array of chromium derivatives and barium products.
The company holds the distinction of being the leading producer of chromium chemicals in India, operating integrated manufacturing facilities in Andhra Pradesh, Telangana, and Chhattisgarh. Over the past three decades, Vishnu Chemicals has established itself as a trusted supplier to marquee names within the global chemical industry, adhering to globally recognized standards for product consistency, stability, and reliability.
Vishnu Chemicals Ltd. manufactures a diverse range of Chromium chemicals, including Basic Chromium Sulphate, Sodium Dichromate, Potassium Dichromate, Chromic Acid, and Chrome Oxide Green. The company is actively involved in the manufacturing, marketing, and export of these specialty chemicals. Sodium Dichromate serves as the foundational chemical for preparing chromium-based derivatives. It is a potent oxidizing agent utilized in metal passivation applications across the pharmaceutical, textile, and construction industries. Key derivative products include chromic acid, chromic oxide, basic chrome sulfate, and potassium dichromate.
The company has strategically invested approximately INR 100 crore in a chrome metal project, slated for operationalization by April 2024. With an anticipated CAGR of 17%, the demand for chrome metal, a significant component in superalloys and welding electrodes, is on the rise. As the sole manufacturer of chrome in India with locally sourced raw materials, Vishnu Chemicals benefits from a distinct cost advantage in the global value chain.
In 2015, Vishnu Chemicals expanded its portfolio by acquiring Solvay Barium GMBH's barium carbonate facility in India. The global demand for barium chemicals currently stands at 1.7 million tons per annum (TPA). Vishnu Chemicals primarily focuses on barium carbonate, a crucial product in its portfolio, integral to the manufacturing of electro-ceramic materials, glazes, bricks, frits, and enamels. Widely used as a coating for welding electrodes and in glass manufacturing, it acts as a purifying agent, ensuring uniformity in glass melts and facilitating the caustic lye brine purification process.
The company has also expanded its production to include precipitated barium sulphate, gaining traction in industries such as paint, powder coating, and battery manufacturing due to its superior tinting strength, low oil absorption, and ease of dispersion. Vishnu Chemicals aims to increase the utilization of this product to 50% by the end of FY24.
Vishnu Chemicals' products find extensive application across a multitude of industries, including pharmaceuticals, electroplating, ceramics and tiles, wood preservatives, pigments and dyes, refractories, and detergents. The company's geographical segments encompass both Domestic and Overseas markets, with the majority of its revenue generated domestically. Over the years, Vishnu Chemicals has evolved into a dependable supplier for leading global names in the chemical, automobile, pharmaceutical, steel, and leather industries.
The diverse applications of chromium and barium chemicals, ranging from everyday pharmaceuticals to critical components in jet engines and aircraft for wear resistance, provide the company with significant stability across various economic cycles and industrial demand patterns.
- Market Capitalization: ₹3,711 Crore (as of May 2025)
- Yearly Growth: Up 23.0% in 1 year
- Revenue: ₹1,447 Crore
- Profit: ₹127 Crore
- Promoter Holding: 69.2% (has decreased by 5.79% over the last 3 years)
The company's market capitalization reflects its robust market position and promising growth prospects within the specialty chemicals sector.
FY 2025 Financial Performance:
- Net Profit: Rose 25.26% to ₹126.64 crore for the year ended March 2025 (compared to ₹101.10 crore in FY2024).
- Sales: Increased by 19.19% to ₹1441.40 crore for the year ended March 2025 (compared to ₹1209.28 crore in FY2024).
Q4 FY 2025 Results:
- Net Profit: Increased by 40.43% to ₹38.94 crore for the quarter ended March 2025 (compared to ₹27.73 crore in Q4 FY2024).
- Sales: Rose by 30.75% to ₹391.10 crore for the quarter ended March 2025 (compared to ₹299.13 crore in Q4 FY2024).
Q3 FY 2025 Performance:
- Net Profit: Increased by 65.70% to ₹34.40 crore for the quarter ended December 2024 (compared to ₹20.76 crore in Q3 FY2024).
- Sales: Grew by 22.07% to ₹370.20 crore for the quarter ended December 2024 (compared to ₹303.27 crore in Q3 FY2024).
- P/B Ratio: 3.48 times (as of 08-May-2025), representing an 82% premium to its peers' median of 1.91 times.
- P/E Ratio: 26.24 times (as of 08-May-2025), a 3% premium to its peers' median of 25.56 times.
- 52-Week High Share Price: ₹562.00
- 52-Week Low Share Price: ₹282.40
Vishnu Chemicals boasts a state-of-the-art research laboratory equipped with modern instruments such as HPLCs, DSC, and a 300 MHz NMR, alongside a dedicated quality control lab. Staffed by talented professionals, these facilities offer customized research, synthesis technology transfer, scale-up, and analytics services. The company's success is attributed to its high-quality standards coupled with efficient customer service.
The company has cultivated a seamless supply chain mechanism that ensures efficient production planning and control without bottlenecks. Vishnu Chemicals collaborates closely with its partners to guarantee that raw materials meet stringent quality requirements. A strong focus on research and development enables the company to provide customized solutions to its global clientele while maintaining competitive cost structures.
India's specialty chemicals industry is experiencing robust growth, driven by increasing demand, favorable government policies, an expanding domestic consumer base, and a trend towards lifestyle premiumization. This sector contributes over half of India's chemical exports, positioning it as a key player in the rapidly growing manufacturing industry. The inorganic chemicals segment, the third-largest in India, has also witnessed significant expansion, with production showing a 4.4% increase between April and July FY23.
Overall, the chemical industry is on a steady growth trajectory. The inorganic chemicals segment, in particular, shows promising figures, propelled by a 12.5% CAGR in consumption and a 4.1% CAGR in imports from FY2016-17 to FY2020-21. As India solidifies its position as a manufacturing hub, the chemical industry is poised to benefit from an improved investment climate and reform measures, aligning with the nation's urban and performance-driven growth strategy.
- Chairman: Ch Krishna Murthy
- Managing Director: Ch Krishna Murthy
- Promoter Holding: Increased to 69.21% as of March 2025 from 68.36% as of September 2024.
- Pledging: There is no promoter pledging in Vishnu Chemicals Ltd.
The company's commitment to sustainable practices is embedded in its mission statement: "Our mission is to change the perception of chromium and barium chemicals manufacturing by adapting to eco-friendly manufacturing practices. In this direction, we will continuously improve and upgrade technology systems and to lend a sustainable competitive advantage to our customers."
Vishnu Chemicals Limited continues to reinforce its standing as India's leading manufacturer of chromium and barium chemicals, driven by consistent financial performance, strategic expansion initiatives, and a strong market position across both domestic and international markets.
