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Adani Wilmar Limited acquires a 67% stake in Omkar Chemical Industries for ₹56.25 crores to boost its speciality chemicals presence. The Panoli, Gujarat-based plant, with a 20,000 MT surfactant capacity, will scale operations, diversifying AWL's product portfolio.
Adani Wilmar Ltd (AWL), a leading player in the edible oil market, announced on July 11 its acquisition of a 67% stake in Omkar Chemical Industries Private Ltd (OCIPL). This move aims to enhance AWL's presence in the speciality chemicals sector. The acquisition, valued at ₹56.25 crore, will be paid in cash and is expected to be completed within 3-4 months.
OCIPL operates a manufacturing plant in Panoli, Gujarat, with an annual capacity of around 20,000 million tonnes (MT) of surfactants. The company’s operations encompass manufacturing, processing, importing, and exporting various chemicals and chemical compounds.
Established in 2020, OCIPL began operations in the fiscal year 2023-24 and is currently working on scaling up its capacity utilisation, which was below 10% in its initial year. In the fiscal year 2023-24, OCIPL reported a turnover of ₹13.95 crore.
The acquisition aligns with AWL's strategy to diversify its product portfolio and strengthen its footprint in the speciality chemicals sector. Currently, AWL operates in this sector through third-party manufacturing and imports from Wilmar’s plants.
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By acquiring OCIPL, AWL will establish a direct production footprint and capabilities, allowing it to better meet customer requirements and explore new market opportunities.
The speciality chemicals market presents significant opportunities across various sectors, including home and personal care products, food additives, plastics and polymers, agrochemicals, and lubricants and petrochemicals.
AWL's strategic focus on downstream derivatization of its basic oleochemicals aligns with the vision of its co-promoter, Wilmar International, the world’s largest oleochemical manufacturer.
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