| Pharmaceutical Intermediates | Manufacture and supply of iodine-based pharmaceutical intermediates and APIs, including IOHEXOL. | Technical know-how, large product portfolio, strategic JV, exclusive distribution deals, and manufacturing capacity. | B2B focus serving pharma, biotech, specialty chemicals, agrochemical industries. | Specialty iodine intermediates and new APIs like IOHEXOL delivering higher margins. | 152 | 97 | Product sales to pharmaceutical and chemical companies domestically and internationally. | Direct sales based on supply agreements and contracts. | Capacity expansion, product innovation, global partnerships, and rising pharmaceutical sector demand. | |
| Biocall (Renewable Energy) | Production and sale of bio-coal made from agro waste through subsidiary Infinium Green Energy Private Limited. | Integration with parent chemical business; proprietary bio-coal production process using agro waste. | B2B customers focusing on alternative energy solutions. | Bio-coal production efficiency improvements. | 3 | 3 | Sales of renewable energy products to industrial customers. | Direct sales; emerging market with growth potential. | Government focus on renewable energy and sustainability; cost benefits over traditional fuels. | |
