Hemani Industries Limited, a key player in the agrochemicals and specialty chemicals sector, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO) worth ₹2,000 crore. The issue includes:
Fresh issue of equity shares worth up to ₹500 crore
Offer for Sale (OFS) by promoters and promoter group up to ₹1,500 crore
Company Overview
Manufactures agrochemicals and specialty chemicals for industries like crop protection, wood protection, veterinary sciences, and public health
Operates across the entire value chain – Technicals, Formulations, and Intermediates
Strong backward integration with in-house raw material production
Offers CRAMS (Contract Research and Manufacturing Services)
Market Leadership
Leading player in India’s pyrethroid market (FY21)
Global leadership in key molecules:
Largest producer of Meta Phenoxy Benzaldehyde (MPBD)
2nd largest in Cypermethrin Acid Chloride (CMAC)
Among top 3 global producers of Cypermethrin Technical, Alpha Cypermethrin, Permethrin Technical
3rd largest Indian producer of Dicamba
Exports & Global Presence
Derives 60–70% of revenue from exports
Strong footprint in Asia-Pacific, Latin America, U.S., Russia, Africa, and Australia
Client Base
Served 1,700+ clients over 10 years
31% of customers retained for over 5 years
Major clients include UPL, Bayer Vapi, Dhanuka Agritech, and Shandong Rainbow Agrosciences
Financial Highlights
Revenue CAGR of 15.2% (FY19–FY21)
EBITDA margin grew from 15.92% to 21.14%
PAT margin improved from 8.49% to 14.31%
Use of IPO Proceeds
Expand capacity at Saykha facility
Debt reduction
Fund working capital needs
Book Running Lead Managers: JM Financial & Kotak Mahindra Capital.
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