Petrochemicals have great significance in every industry. You require petrochemicals such as benzene, ethylene, phenol, toluene, butadiene, etc and many more hydrocarbons as either raw materials or catalysts in different kinds of industries. These petrochemicals have a great use in the petroleum corporations as well as the plastics and polymer industry.
India is one of the biggest importers of crude oil in the world. It has a couple of major oilfields as well such as those in Mumbai High and the Krishna-Godavari basin. However, the major source of crude oil is the Gulf countries. The role of the petroleum industries is to process the crude oil and manufacture the products mentioned above. This industry has witnessed a growth of 11%. It can rise further with the friendly Governmental policies in place today.
India has a large number of petrochemical industries. One has to consider many factors before ranking them. These factors include the production, sales, position of assets and debts, net profit, market capitalisation, etc. Below are the top 10 best petrochemical companies in India in 2021.
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10. Diamines and Chemicals Limited
At No 10 on the list, we have Diamines and Chemicals Limited, a petrochemical company manufacturing organic chemicals for use in the industry. They are also involved in the generation of electricity from alternate sources (Windmills). The principal product of this company is Ethylene amines. These products have great use in the pharmaceutical, agro-chemicals, water-treatment companies, etc. With overall annual sales of Rs 35 crores, this company has made a net profit of around Rs 0.25 crores in 2015-16.
9. DCW Limited
We have DCW Limited, a petrochemical industry manufacturing caustic soda, soda ash, and PVC Resin, at No 9 in this list. This Company is one of the largest producers of industrial salt in India. Having its plants in Dhrangadhra in Gujarat and Shahupuram in Tamil Nadu, this company is also a leading manufacturer of Synthetic iron Oxide Pigment. All these chemicals have great use in the industry. In addition, this company runs a 36 MW power plant and a 58.3 MW Cogeneration plant. With annual sales of Rs 1272 crores, this company has made a net profit of Rs 18 crores in 2015-16.
8. Manali Petrochemicals Limited
Based in Chennai, Manali Petrochemicals Limited is a leading manufacturer of industrial products such as propylene glycol, propylene oxide, and polyether polyol etc. With an annual production of over 27000 metric tonnes of propylene oxide, this company plays a big role in meeting the demand of polyurethane industry in India. Originally belonging to SPIC group, this company has achieved total sales of Rs 579 crores with a net profit of Rs 48 crores. This petrochemical industry is fit to rank at No 8 on this list.
7. Haldia Petrochemicals Limited
Registered in Kolkata, West Bengal Haldia Petrochemicals Limited (HPL) is one of the largest petrochemical companies in India. They were a loss making company in 2014. However, they turned the corner in 2014-15 with an annual net profit of Rs. 365.52 crores against the sales of 3130 crores. One of the main products they manufacture is naphtha. In addition to naphtha, they also extract butadiene and benzene from crude oils. This company is a joint venture between the Government of West Bengal, the Chatterjee Group, the TATA Group, and Indian Oil Corporation. Starting their production in 2001, they are one of the largest manufacturers of LDPE and HDPE in India.
6. Ineos Styrolution India
One of the largest manufacturers of ABS, a plastic resin produced from Acrylonitrile, Butadiene, and Stryene, Ineos Styrolution India has its base in Vadodara, Gujarat. Incorporated in 1973, this company manufactures resin, synthetic rubber, synthetic and artificial fibers, etc. These products have great use in the manufacture of a number of industrial products. This year, they have done very well with annual sales of around Rs. 1597 crores and earned a net profit of Rs. 63 crores. These figures make them perfect for the No 6 slot in this list of the top 10 petrochemicals industries in India 2021.
Previously known as National Organic Chemicals India Limited, NOCIL belongs to the Arvind Mafatlal group of companies. Incorporated at Mumbai in 1961, NOCIL is one of the largest manufacturers of vulcanized rubber in the country. Having the reputation of being the largest manufacturer of rubber chemicals in India, their products PILFEX Antidegradants, etc. have wide international appeal as well. Very recently, in 2012-13 they set up a net plant at Dahej in Gujarat. They managed an annual sales figure of Rs. 715 crores and a profit of Rs.78 crores in 2015-16. For its longevity in the field and trustworthiness of their products, they rank at No 5 on this list.
4. Supreme Petrochem
At No 4 on this list, we have an upcoming petrochemical industry, Supreme Petrochem Ltd. This Company has two production facilities, at Nagothane in Maharashtra, and Manali in Chennai. One of the leading manufacturers of Polystyrene, Expandable Polystyrene, and Specialty polymers in India, this Company has achieved the sales turnover of Rs. 2068 crores and a profit of Rs. 56 crores in 2015-16. With a market capitalization of Rs. 3025 crores, this company is a fit No 4 in this list of the top petrochemical companies in India.
3. Finolex Industries
Based in Pune, Finolex Group are the largest manufacturers of PVC pipes in India. In addition, they manufacture wires and cables of the highest quality. Their petrochemicals division, Finolex Industries Ltd caters to their entire requirement of PVC. They have achieved sales turnover of Rs. 2454 crores in 2015-16. Their profit of Rs. 234 crores is among the highest in this industry sector. This makes them a worthy entrant at No 3 in this list.
Some of the most notable products of the petrochemical industry are the auto lubricants and the auto fuels. When it comes to auto lubricants, no one can hold a candle to Castrol India in this country. Part of a larger Castrol Limited UK, this Company has its Indian headquarters in Mumbai. They have recorded annual sales of Rs. 3298 crores in India in 2014-15 with a net profit of Rs. 615 crores thereby enabling them to rank at No 2.
1. Reliance Petrochemicals
Reliance Petrochemicals should rank as a refinery unit because of their oil exploration activities in the Krishna Godavari basin. However, they are the world’s largest producers of integrated polymers, elastomers, etc. Part of a larger conglomerate, Reliance Petrochemicals has achieved annual sales of Rs. 233,158 crores along with a profit of Rs. 27,417 crores in 2015-16. These astronomical figures are reason enough for its inclusion at the top of the list.
We have left out the industries such as Hindustan Petroleum, Indian Oil Corporation etc because they do not strictly qualify as a petrochemical industry. Under the same context, Reliance Petrochemicals should also qualify as a refinery instead of a petrochemical industry. However, Reliance is also into the manufacture of polymers, etc that has tilted the scales in their favor. The petrochemical industry is a fast growing industry with a growth rate of 11% in the previous year.