Vishnu Chemicals, a Hyderabad-based speciality chemical manufacturer and a large producer of barium and chromium chemicals, has announced that it has acquired 100 per cent stake in Chennai-based Ramadas Minerals Pvt Ltd. The acquisition was made through its wholly-owned subsidiary, Vishnu Barium Pvt Ltd for a consideration of ₹26 crore.
Ramadas Minerals is engaged in the manufacture of barite, mineral powder and white barite powder. Vishnu Chemicals said the acquisition will help the company to improve raw material quality resulting in exceptional products for domestic and global customers. The operational plant (of Ramadas Minerals) will enable Vishnu Chemicals to capitalise swiftly on abundant market opportunities, it added.
Vishnu Chemicals has two product lines: Chromium chemical, which is used in healthcare, leather, metal industries; and barium chemical, used in electro-ceramic materials, bricks, and enamels.
Ramadas Minerals recorded a revenue of ₹7.37 crore in 2020-21 followed by ₹9.73 crore and ₹21.3 crore in 2021-22 and 2022-23 respectively.
Shares of Vishnu Chemicals were trading at ₹351.90 on NSE, 1 per cent higher than previous day’s closing price.