Laxmi Organic

Laxmi Organics is a flagship company of the Goenka Group, providing specialty ingredients and solvents for market sectors like agrochemicals, pharmaceuticals, food packaging, coatings and pigments.

Laxmi Organics Industries Limited was set up in 1989 with the sole purpose of manufacturing alcohol-based chemicals. It started its journey from alcohol-based bulk acetyl intermediates to complex fluorospecality intermediates.

In 1992, it commissioned its acetyl intermediates manufacturing facility at Raigad in Maharashtra for glacial acetic acid manufacturing. In 1996, it started the production of ethyl scetate. Laxmi Organics installed two windmills in the Chitradurga district in Karnataka, each with a capacity of 0.6MW in 2004. It received the ISO 9001-2000 certification for producing acetic acid, ethyl acetate and absolute alcohol in 2006.

It acquired ClariantA's Ketene/diketene business in 2010 and expanded its production capacity into diketene and diketene derivatives products.

In 2008, it expanded its acetate manufacturing facility to 51,000 metric tonnes and set up a distillery at Jarandeshwar. It started a hydro-electric power project at Yedgaon in 2018.

In 2018, it received the USDA Certified Biobased Product Label for its Ethyl Acetate from the US Department of Agriculture.

The company started its journey into the Fluoro Intermediates segment by kickstarting the first phase of its new plant recently.

Laxmi Organics has a market capitalisation of over ₹7,400 crores. Laxmi Organics share price has seen very little overall movement at the end of one year with just a 1% rise.

Business operations

The company provides a wide range of products. Its portfolio includes over 40 products and solutions such as acetyl intermediates and speciality intermediates. These products serve diverse industries, such as pharmaceuticals, adhesives, packaging, agrochemicals, paints, coatingsand dyes.

Laxmi Organics has a refrigeration capacity of more than 2000 Tr, enabling it to handle large volumes of refrigeration loads. The company’s other specialised skills include safe and effective handling of ethylene oxide under pressure, chlorination in cryogenic conditions, esterification, reactive distillation and catalytic oxidations, and more.

The company has offices in India at Mumbai, Pune and Hyderabad. The international offices are located in the Netherlands, Shanghai, and Rome.

It has four manufacturing facilities and two distilleries. In Maharashtra, its manufacturing locations are spread across Raigad, Ratnagiri, Satara, and Kolhapur. Laxmi Organics has international presence is spread across Asia, Europe, China, Canada, North America, South America, the United Kingdom and Australia.

The company also has an innovation centre with state-of-the-art infrastructure. Its research centre is accredited by the Department of Scientific and Industrial Research India.

Financial highlights

– Laxmi Organics’ revenue from operations stood at ₹2796.6 crore in FY23 against ₹3084.3 crore in FY 22. – The PAT (profit after tax) for FY23 was ₹125 crore as against ₹256 crore in FY22. – The EPS (Earnings per share) for FY23 was ₹4.7 and ₹9.76 in FY22.