As on June 30, 2024, Quant Mutual Fund – Quant Manufacturing Fund held 2.76 per cent or 638,155 equity shares in HCIL, the shareholding pattern data shows.

The company is engaged inter-alia, in manufacturing and selling specialty chemicals. The company has its own manufacturing sites in the State of Maharashtra, Tamil Nadu and Madhya Pradesh. The company offers an range of organic and inorganic high-performance pigments and pigment preparations for various applications including paints, plastics, coatings, printing inks, non-impact printing inks, rubber, and other special applications.

As a pigment manufacturing company, HCIL can benefit from the rising chemical consumption in sectors such as HPPC, textiles, and consumer goods, tapping into substantial growth opportunities. The demand will also be driven by infrastructure development, residential and commercial construction, and industrial expansion. Government initiatives like the ‘Smart Cities Mission’ and ‘Housing for All’ will further amplify these construction activities, the company said.

With global companies diversifying supply chains away from China, India’s chemical sector has significant growth opportunities. Competitive manufacturing costs, high-quality products, and adherence to global standards position the Indian pigment chemicals industry for strong international expansion.

India, with its favorable ecosystem and localised value chain, has emerged as a promising destination for pigment manufacturing. India’s organic pigment market value is expected to rise to $0.6 Billion by 2034 from $0.3 Billion in 2023, growing at a compound annual growth rate (CAGR) of 5.7 per cent. Organic pigments account for 58 per cent of the total pigment production in India, HCIL said in its FY24 annual report.

First Published: Oct 11 2024 | 1:49 PM IST