DCM Shriram, a leading player in the sugar and seeds business, has announced to acquire Hindusthan Specialty Chemicals Ltd (HSCL) at a value of ₹375 crore, which the Board has approved.
The acquisition of the unlisted subsidiary of HSCL is subject to regulatory and customary approvals, DCM Shriram said in a statement.
Gujarat-based HSCL has a production facility in Jhagadia in Bharuch district, covering 43 acres of land. It is located 3.5 km from DCM Shriram’s existing chemicals complex in the same area, and the company added that the proximity is expected to create operational synergies.
HSCL is said to have reported revenue of over ₹274 crore in 2024-25, with liquid epoxy resin capacity exceeding 17,000 tonnes per annum. Its product portfolio includes liquid epoxy resins, hardeners, reactive diluents, solvent cuts, and formulated resins for aerospace, electronics, renewable energy, electric vehicles, defence, and composites sectors.
“This acquisition is a pivotal step in our chemicals growth strategy and a catalyst for DCM Shriram’s entry into advanced materials,” Chairman and Senior Managing Director of DCM Ajay Shriram and Vice Chairman & Managing Director Vikram Shriram said in a joint statement.
The deal builds on DCM Shriram’s February 2024 commitment to invest ₹1,000 crore in establishing its Epoxy and Advanced Materials business under its Chemicals Strategic Business Unit, the company said.