Yasho Industries Limited, founded in 1985 by Mr. Vinod Jhaveri in Mumbai, stands as one of India's leading manufacturers and suppliers of Specialty Chemicals, Food Antioxidants, Aroma Chemicals, Rubber Accelerators, and Lubricant Additives. The company was originally incorporated as "Vasu Preservatives Private Limited" on October 30, 1985, later becoming "Yasho Industries Private Limited" on May 17, 1996, and finally a Public Limited Company named "Yasho Industries Limited" on February 19, 2018.
The company specializes in specialty and fine chemicals manufacturing, boasting a portfolio of 148 products across five key business verticals: Food Antioxidants, Aroma Chemicals, Rubber Chemicals, Lubricant Additives, and Specialty Chemicals. Serving a diverse clientele of over 1,000 customers in more than 50 countries, Yasho Industries exports to major markets including the USA, Europe, Asia, and the Middle East.
Yasho Industries' comprehensive product range includes aroma chemicals, food antioxidants, rubber chemicals, pre-dispersed rubber chemicals, lubricant additives, and specialty chemicals.
- Aroma Chemicals: Engaged in the supply of clove oil and its derivatives, these ingredients cater to flavor, fragrance, consumer products, essential oils, food, beverage, and allied industries.
- Rubber Chemicals: Comprises accelerators, antioxidants, and co-agents vital for processing acrylic and other rubber materials.
- Lubricant Additives: Manufactures a range of additives for industrial and automotive lubricants and greases, including phenolic/aminic antioxidants, molybdenum-based friction modifiers/antiwear agents, dithiocarbamates, thiadiazoles corrosion inhibitors, extreme pressure additives, and triazole metal deactivators.
The company's esteemed client roster includes Dabur, Continental, Hindustan Petroleum, Balmer Lawrie, Indian Oil, Apollo Tyres, CEAT, Adani Wilmar, Keva, Kemin, JK Tyre, and MRF. In FY22, rubber chemicals, lubricant additives, and specialty chemicals collectively accounted for approximately 74% of the company's revenue.
The Company's manufacturing facilities are strategically located in Vapi, Gujarat. Significant capacity enhancements have been undertaken:
- 2018-19: Unit I production capacity was augmented by 850 MT.
- 2019-20: Commissioned Unit-2 facility, adding an additional 1,550 MT capacity for industrial and lubricant chemicals.
- March 2020: Established Unit-3.
- 2023: Expanded existing unit capacity by 1,500 MT.
A new facility is under development in Pakhajan Dahej with a substantial capacity of 17,500 MT, specifically focusing on the production of Lubricant & Rubber chemicals. The company aims to enhance capacity utilization at its Pakhajan facility, with projections to reach 60% by Q4 FY25.
Yasho Industries Ltd currently holds a market capitalization of ₹2,515 crore.
- 52-week high: ₹2,343.85
- 52-week low: ₹1,601.00
For the full financial year ended March 2025:
- Net Profit: Declined 89.45% to ₹6.11 crore, compared to ₹57.94 crore in FY24.
- Sales: Rose 12.63% to ₹668.50 crore, up from ₹593.56 crore in FY24.
For the quarter ended March 2025:
- Net Profit: Declined 71.96% to ₹5.03 crore, compared to ₹17.94 crore in Q4 FY24.
- Sales: Rose 6.27% to ₹182.81 crore, up from ₹172.03 crore in Q4 FY24.
The Board of Directors has recommended a final dividend of ₹0.5 per equity Share (i.e., 5%), subject to shareholder approval. The current dividend yield stands at 0.03%.
Yasho Industries boasts a wide geographical footprint with exports to Europe, America, the Middle East, and Asia. In 2021-22, the Company established a wholly-owned subsidiary, 'Yasho Industries Europe B.V.', in the Netherlands on June 29, 2021, to strengthen its European operations.
The company has obtained various national and international certifications, including HALAL Certifications, STAR KOSHER Certifications, NSF Certifications, FAMIQS Certification, and FSSC Certification, affirming its commitment to quality and compliance. Furthermore, it has pre-registered certain products under REACH (Registration, Evaluation, Authorization and Restriction of Chemicals) Regulation for substances manufactured or imported into the European Union.
Yasho Industries has significantly increased its R&D investments over the years. It conducts R&D activities at its DSIR-certified facility. This sustained focus on research, development, and innovation has enabled the company to continuously expand its product range. Future plans include further investment in R&D to develop high-quality products that meet evolving customer demands.
Yasho Industries demonstrated a robust 17% year-on-year sales growth, primarily driven by strong export demand, despite facing downward pressure on global chemical prices. Management expresses cautious optimism about achieving a revenue target of ₹1,250 crores for FY '26. However, skepticism surrounds the current year's ₹900 crores goal due to declining selling prices.
The company has seen improved gross margins due to a favorable product mix. Nevertheless, ongoing market volatility necessitates a strategic approach to ensure pricing stability and firm customer commitments. Overall, Yasho Industries is actively positioning itself for future growth in emerging markets while proactively navigating current challenges through operational efficiency and strategic initiatives.
Promoter Holding: As of March 2025, promoter holding in Yasho Industries Ltd stands at 67.99%, a slight decrease from 71.92% in September 2024. The company's leadership comprises Vinod Harilal Jhaveri as Chairman and Parag Vinod Jhaveri as Managing Director.
Yasho Industries Limited represents a well-established player in India's specialty chemicals sector, characterized by a diversified product portfolio, strong international presence, and ongoing capacity expansion initiatives. Despite challenges posed by global price pressures, the company remains focused on operational efficiency and market expansion to drive future growth and sustain its position.
