Laxmi Organic Industries Ltd: History, Latest Updates, Milestones, Subsidiaries and Share Price
INTRODUCTION
Laxmi Organic Industries Limited, founded in 1989, is a leading chemical manufacturer in India. Initially producing acetaldehyde and acetic acid, the company expanded to ethyl acetate in 1996, capturing 34% of the Indian market and leading in exports by 2022. In 2010, Laxmi diversified into ketene and diketene derivatives, securing a 53% market share in these products. After acquiring Miteni SpA in 2020, they began producing fluorospecialties in 2024. The company's products, now categorized into Essentials and Specialties, serve industries like pharmaceuticals, agrochemicals, and more, solidifying its market position with expertise in acetyl and specialty intermediates.
Laxmi Organic Industries Ltd moves in 2024:
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Laxmi Organic Industries Ltd is a leading company in the Basic Materials sector with a market capitalization of Rs. 7,479.36Cr. Laxmi Organic Industries Ltd’s revenue for the quarter ending March 2024 was Rs. 799.96Cr, reflecting a year-on-year growth of 8.54% since the last quarter. The company's profits for the same period were Rs. 44.31Cr, showing an impressive increase of 82.2% year-on-year. As of 12 July 2024, the Laxmi Organics share price stands at Rs. 270.25.
Evolution of Laxmi Organic Industries Ltd: From Past to Present:
Past:
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Laxmi Organic Industries Ltd began its journey in 1992 with the commissioning of the AI Manufacturing Facility at Raigad for glacial acetic acid production. The company expanded its product range in 1996 by commencing the production of ethyl acetate. Significant milestones in the early 2000s included the installation of windmills in Karnataka and Maharashtra and the acquisition of ISO certifications for quality and environmental management. By 2008, the company had increased its ethyl acetate manufacturing capacity and established a distillery at Jarandeshwar. The 2010s saw further expansion with the acquisition of Clariant’s ketene/diketene business, the commissioning of the SI Manufacturing Facility, and multiple international incorporations. These strategic moves solidified Laxmi Organic's position in the global Basic Materials sector.
Present:
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Today, Laxmi Organic Industries Ltd stands as a leading entity in the Basic Materials sector, marked by significant achievements and certifications. The company expanded its energy portfolio with a hydroelectric power project. The acquisition of assets from Miteni and the signing of definitive agreements for the YCPL acquisition have further strengthened its market position with a current market capitalization of Rs. 7,479.36Cr and the Laxmi Organics share price at Rs. 270.25 as of July 12, 2024, Laxmi Organic continues to innovate and expand, driven by a commitment to quality, sustainability, and growth.
|
Name |
Laxmi Organic Industries Ltd |
|
Founded year |
1989 |
|
Chairman |
Ravi Goenka |
|
Headquarters |
Mumbai, India |
|
Sector |
Chemicals |
|
Major subsidiaries |
Acetyls Holding Private Limited, Laxmi Speciality Chemicals (Shanghai) Co. Ltd. |
|
Nse code |
LXCHEM |
|
Bse code |
543277 |
Timeline of Laxmi Organic Industries Ltd :
|
Fiscal Year |
Particulars |
|
1992 |
The AI Manufacturing Facility at Raigad was established to produce glacial acetic acid. |
|
1996 |
Commenced production of ethyl acetate. |
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2004 |
Installed two windmills in Chitradurga district, Karnataka, with capacities of 0.6 MW each. |
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Received ISO 9001-2000 certifications for manufacturing and marketing ethyl acetate, acetic acid, and absolute alcohol. |
|
|
2008 |
Expanded ethyl acetate manufacturing capacity at the AI Manufacturing Facility to 51,000 MT. |
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Set up a distillery at Jarandeshwar. |
|
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2010 |
Acquisition of Clariant’s ketene/diketene business led to expansion into diketene and its derivatives, alongside the commissioning of the SI Manufacturing Facility. |
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Received ISO 14001:2009 and OHSAS 18001:2007 certifications for manufacturing and marketing ethyl acetate, acetic acid and its derivatives, acetaldehyde, and absolute alcohol. |
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2011 |
Increased the capacity of diketene and diketene derivatives from 8,900 MT to 13,380 MT and expanded ethyl acetate capacity to 0.12 MT. |
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Set up a DSIR-approved R&D center at the SI Manufacturing Facility. |
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2012 |
Received investment from the International Finance Corporation. |
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2013 |
Incorporated Laxmi Organic (Europe) B.V. in the Netherlands. |
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Established Laxmi Petrochem Middle East FZE in Sharjah. |
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2018 |
Commissioned a hydro-electric power project at Yedgaon. |
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2019 |
Received DSIR registration for the Rabale Innovation Centre. |
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2020 |
Acquired assets from Miteni by VLPL. |
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2021 |
Obtained the USDA Certified Biobased Product label from the U.S. Department of Agriculture for ethyl acetate. |
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Signed definitive agreements for the YCPL Acquisition. |
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Received ISO 45001:2018, ISO 9001:2015, and ISO 14001:2015 certifications for manufacturing, marketing, and sales of ethyl acetate, acetic acid, and its derivatives, acetaldehyde, and absolute alcohol. |
Inside Laxmi Organic Industries Ltd: Exploring Products/Brands
Laxmi Organic Industries Ltd
Corporate actions: Laxmi Organic Industries Ltd declared a dividend with a last dividend date of 21/05/2024, offering a current dividend yield of 0.22% and an annual dividend payment amounting to Rs. 0.60.
As of 12 July 2024, the Laxmi Organics share price stands at Rs. 270.25.
Main News:
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Laxmi Organic's standalone net sales for March 2024 reached Rs. 811.21 crore, marking a year-over-year increase of 13.96%.
Current laxmi organic share price NSE:
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COMPANY NAME |
SECTOR |
SHARE PRICE LINK |
|
laxmi organics share price |
Chemicals |
Achievements and Milestones:
|
Year |
Award |
|
2018 |
Awarded the Maharashtra Safety Award in 2017 for outstanding industrial safety performance in Chemicals & Fertilizers by the National Safety Council. |
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2020 |
The Indian Chemical Council honored Laxmi Organic with the ICC Award for "Excellence in Energy Conservation and Management”. |
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2020 |
21st National Award for Excellence in Energy Management for “Energy Efficient Unit”, granted by the Confederation of Indian Industry for the manufacturing Unit 2 in Mahad. |
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2023 |
Won State Level Occupational Health and Safety Award |
CONCLUSION
Since its inception in 1989, Laxmi Organic Industries Ltd has grown from a chemical manufacturer to a leading player in the Basic Materials sector. The company's strategic expansions and diversifications, including into ketene, diketene derivatives, and fluoro specialties, have strengthened its market position. With a solid market capitalization and strong financial performance, Laxmi Organic continues to innovate and excel. The Laxmi Organics share price reflects the company's commitment to quality, sustainability, and growth, positioning it for a promising future in the chemical industry.
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Frequently Asked Questions:
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Where can I find real-time updates on the Laxmi Organics share price?
Explore the latest Laxmi Organics share price and real-time stock price updates on Enrich Money's stock analysis page here.
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What has been the peak laxmi organics share price in the last 52 weeks?
52 Week's highest Laxmi Organic Industries limited share price is Rs 395.80, while 52 Week's lowest Laxmi Organics share price is Rs 220.50.
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How has Laxmi Organic Industries Ltd's revenue grown over the past 5 years?
Over the last 5 years, Laxmi Organic Industries Ltd's revenue has grown at a yearly rate of 12.95%, which is significantly higher than the industry average of 6.51%. This growth is reflected in the stability and increase of the Laxmi Organics share price.
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What is market share, and how has Laxmi Organic's market share changed over the past 5 years?
Market share is the percentage of an industry's total sales that goes to a particular company, indicating the company's size relative to its competitors. In the past 5 years, Laxmi Organic has boosted its market share from 2.68% to 3.52%, positively impacting the Laxmi Organics share price.
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How has Laxmi Organic Industries Ltd's net income grown compared to the industry average?
Over the last 5 years, Laxmi Organic Industries Ltd's net income has grown at a yearly rate of 10.74%, while the industry average has seen a decline of -0.86%. This robust growth is one of the factors supporting the Laxmi Organics share price.
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