What we do Machhar Industries Ltd manufactures ammonium nitrate for explosives and AdBlue (Diesel Exhaust Fluid) for automotive emission control, serving chemical and automotive sectors in India. |
Founded in 2,008 |
Market share Key player in ammonium nitrate and emerging AdBlue markets within India’s industrial and automotive chemicals sector. |
Problem solved Provides essential raw materials for explosives and environmentally friendly solutions to reduce vehicle emissions. |
Top clients or who we serve Serves explosives manufacturers and diesel vehicle fleet operators; caters to B2B industrial and automotive clients. |
Key management Sandeep Bhagawatiprasad Machhar (Managing Director) and Vyankat Waman Katkar (Whole Time Director) |
Our journey and innovations Established post-demerger in 2008; diversified into automated AdBlue production under brand YUNI BLUE; listed on BSE in 2023. |
Where we operate Operations primarily in India with manufacturing units in Gujarat and Maharashtra; domestic market focus. |
Top products or what we offer Ammonium nitrate for explosives; AdBlue (Diesel Exhaust Fluid) branded as YUNI BLUE for diesel vehicles equipped with SCR technology. |
Top brands YUNI BLUE AdBlue – growing brand for emission control fluids; ammonium nitrate product – critical raw material for explosives. |
Raw materials needed Ammonium nitrate melt sourced mainly from Gujarat Narmada Valley Fertilizers, Bharuch; urea and deionised water for AdBlue. |
Raw materials supplier Gujarat Narmada Valley Fertilizers supplies ammonium nitrate melt; other inputs sourced locally. |
Recurring vs cyclical contribution Revenue is largely recurring through supply contracts in chemicals and automotive fluids, with some cyclical demand linked to industrial activity. |
Our industry position Leading regional supplier of ammonium nitrate, emerging player in India’s AdBlue segment; recognized for quality and capacity. |
Financial highlights FY 2023-24 revenue around Rs. 17.32 Cr; modest profit before tax; EBITDA and net profit improving year on year. |
Geographical revenue split Revenue predominantly domestic India, contributing 100% of sales in fiscal 2023-24. |
Order book Maintains steady order inflows in explosives and automotive fluids segments; specific order book details not disclosed. |
Whats driving growth Growth driven by adoption of stricter vehicular emission norms and steady industrial demand for explosives. |
Our future plans Plans to expand capacity and commercialize joint venture in nutraceuticals; focus on increasing AdBlue market share. |
Our green promise Manufacturing adopts energy-saving practices; promotes reduced vehicle emissions through AdBlue products. |
Our people and values Small, dedicated workforce focused on operational excellence and compliance; fosters safe workplace culture. |
Key challenges ahead Regulatory approvals for joint ventures, volatile raw material prices, and scaling new product adoption. |
Interesting facts Listed on BSE in July 2023 with significant stock price appreciation; first mover in automated AdBlue production in region. |
Risks and strategy Mitigates industry cyclicality through product diversification and cost control; pursuing JV approvals and compliance rigor. |
