Kronox Lab Sciences Ltd - Stock Valuation and Financial Performance

The company was incorporated on November 18, 2008 as 'Kronox Lab Sciences Private Limited', a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated November 18, 2008 issued by the Assistant Registrar of Companies, Gujarat, Dadra and Nagar Haveli. Subsequently, the company was converted into a public limited company pursuant to a resolution passed by its shareholders at an extra-ordinary general meeting held on May 25, 2019 and a fresh certificate of incorporation dated June 11, 2019 was issued by the Registrar of Companies, Ahmedabad consequent upon conversion, recording the change in the name of the company to 'Kronox Lab Sciences Limited'.   

The company manufactures High Purity Speciality Fine Chemicals for diversified end user industries. Its High Purity Speciality Fine Chemicals are used mainly as (i) reacting agents and raw material in the manufacturing of Active Pharmaceutical Ingredients (APIs); (ii) excipients in pharmaceutical formulations; (iii) reagents for scientific research and laboratory testing; (iv) ingredients in nutraceuticals formulations; (v) process intermediates and fermenting agents in biotech applications; (vi) ingredients in agrochemical formulations; (vii) ingredients in personal care products; (viii) refining agents in metal refineries; and (ix) ingredients in animal health products, amongst others. Its products are manufactured in accordance with industry standards like IP, BP, EP, JP, USP, FCC, LR, AR, GR and ACS in addition to custom manufacturing specifications, which differ from the industry standards, required by its customers in select cases. It manufactures High Purity Speciality Fine Chemicals of various grades in particle sizes ranging from 10 mesh to 100 mesh. Its focus on product development, diversity in product offerings, meeting quality standards and customer specifications and continuous process improvement has led to repeat orders from its customers over the years.

In addition to the manufacturing of products in accordance with various domestic and international standards, it also undertakes custom manufacturing to achieve high levels of purity, as specified by the client, having different purity levels than the prescribed industry standards. Custom manufacturing requires deep domain knowledge, expertise and understanding of the characteristics of each chemical and its compounds, including decreasing the level of existing impurities and the processes to be deployed to reach the desired level of purity. It has set up an in-house research, development and testing laboratory (RDT Laboratory) to develop new products and test its products against the specified industry standards or customer specifications. Its dedicated RDT Laboratory is located in Unit I with the objective to implement a performance-oriented approach with the help of advanced equipment and systems. Its RDT Laboratory is equipped with the necessary facilities to carry out tests required to develop the products. 

Business area of the company

The company is a bulk manufacturer of high purity fine chemicals, in compliance with Reagent, Pharmacopoeia and various Food Grade standards, for the pharmaceutical, nutraceutical, veterinary, food, chemical analysis and other specialty markets. 

Major events:

• 2008: Incorporation of the company.
• 2009: Commencement of manufacturing of High Purity Speciality Fine Chemicals at Unit I.
• 2010: Commenced export of products.
• 2011: The company expanded its Unit I for manufacturing of High Purity Speciality Fine Chemicals used in pharmaceutical and nutraceutical industries.
• 2011: The company started manufacturing High Purity Speciality Fine Chemicals to cater to the solar industries.
• 2014: Acquisition of land along with factory shed for Unit II.
• 2014: Receipt of FSSC 22000 certification from ISOQAR, UK for Unit I.
• 2015: Commencement of manufacturing operations at Unit II.
• 2015: Obtained FSSAI certification for manufacturing of food grade fine chemicals and ingredients.
• 2017: Receipt of ISO 14001: 2015 & OHSAS 18001:2007 certification in respect of Unit I.
• 2019: Started manufacturing of products at its Unit III.
• 2022: Acquisition of land along with factory shed for Unit I and Unit III.
• 2023: Acquisition of land for proposed Unit IV.