Fortis

What Fortis does

Fortis Chemicals Pvt. Ltd. is a specialty chemicals manufacturer headquartered in Jharsuguda, Odisha, India, focused on synthetic phenolic resins and related industrial chemicals. Founded in 2010/2011, the company produces Novolac and Resole phenolic resins used as binders in refractories, foundries, abrasives, friction materials, and rubber compounds. Its product portfolio spans the Fortiplast series (phenolic novolac powder and liquid resins), Fortiset series (liquid resole resins), foundry binder systems (FORTISET Alpha ester-cured no-bake and FORTIPLAST S shell molding resins), and alternate fuel products (Fortifuel, Fortilight) that substitute furnace oil and light diesel oil for steel and mining customers. Manufacturing is anchored in a single plant at Raghunathpali, Jharsuguda, with stated capacities of 600 mt/month for finished resins, 400 mt/month for resin intermediates, 8,000 mt/month for alternate fuels and oleo chemicals, 400 mt/month for DEF, and 500 mt/month for bitumen.

The company operates a sales-led B2B model, supplying engineered chemical solutions directly to industrial process customers. Its flagship relationship is a long-running technology partnership with TRL Krosaki Refractories (formerly Tata Refractories Ltd), under which Fortis develops import-substitute resin products for basic refractories, dolomite refractories, flow control products, and tap-hole clay products. Other disclosed end-customers include Tata Steel (co-developer of a patent-pending polymer binder for coal fines) and Koshal Ceramics. Fortis is part of a diversified industrial group encompassing 10+ affiliated companies in chemicals, refractories, sponge iron, steel, solar power, and construction, with 1,200+ employees group-wide. The company is privately held by promoters Rajesh Agrawal, Anil Kedia, and Deepak Agrawal, with no disclosed external institutional funding or public listing.

The business model is built on customized formulations, technical support, and quality consistency backed by ISO 9001:2015 certification. Fortis differentiates through import substitution for specialty chemicals that reduce customer dependency on foreign suppliers, paired with in-house R&D. Revenue mechanics are quote-based B2B contracts with industrial buyers; pricing is not publicly disclosed. The company has invested in a 2023 modernization program adding SS 316 reactor vessels, digital process monitoring, ACM powder-resin units, and a zero-liquid-discharge effluent treatment plant. Quantified outcomes cited by the company include a 15% increase in polymerization efficiency for a customer, zero reportable safety incidents over five years, and zero liquid discharge at the plant. Distribution is single-country/domestic (Eastern India), with no disclosed international footprint.

Name

Fortis

Legal name

Fortis Chemicals Pvt. Ltd.

Website

https://fortischemicals.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

Fortis Chemicals manufactures synthetic phenolic resins (Novolac and Resole types), foundry binder systems, and alternate fuels for industrial process customers. It supplies customized binders and chemical solutions primarily to refractory, foundry, abrasive, friction, rubber, steel, and mining companies in eastern India.

Ownership category

akta.pro rank

Product category

Specialty Chemicals

NAICS

Resin and Synthetic Rubber Manufacturing (32521), Plastics Material and Resin Manufacturing (325211)

SIC

Adhesives & Sealants (2891), Plastic Material, Synth Resin/Rubber, Cellulos (No Glass) (2820), Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821)

akta.pro primary industry

Adhesives & Sealants Chemicals (IMAEABAA)

akta.pro secondary industries

Functional Additive Compounds (UV/Antioxidant/Slip/Antiblock/Processing Aids) (IMANABAJ), Plasticizers & Solvents (Phthalates/Alternatives, Commodity Solvents) (IMAEADAK)

Keywords

• Phenolic resins
• Specialty chemicals
• Foundry binders
• Refractory chemicals
• Industrial oils

Headquarters

HQ city

Jharsuguda

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Revenue model

1. Industrial Chemical Sales: Manufacturing and sale of phenolic resins (novolac powder, novolac liquid, resole liquid), foundry chemicals, industrial oils, and alternate fuels to process industries including refractories, foundries, abrasives, friction, rubber, steel and mining sectors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Fortis Chemicals manufactures synthetic phenolic resins (Novolac and Resole types) and specialty chemicals for industrial applications. The company produces binders and resins for refractories, foundries, abrasives, friction materials, rubber compounds, and alternate fuels for the steel and mining sectors. Products are sold under proprietary brand families including Fortiplast, Fortiset, Fortifuel, and Fortilight.

Product overview

Fortis Chemicals is a manufacturer of industrial chemicals and specialty products, primarily focused on phenolic resins and industrial oils. The product portfolio centers on three main brand families: Fortiplast (Phenolic Novolac Powder and Liquid Resins) used as binders for refractories and abrasives; Fortiset (Phenolic Liquid Resole Resin and foundry resin systems including FORTISET Alpha and shell molding resins) for foundries and refractory applications; and alternate fuel products (Fortifuel, Fortilight, Industrial Oil) for steel and mining industries. Additional products include substituted phenolic resins for rubber and friction industries, specialty coatings for dolomite refractories, and industrial chemicals like Diesel Exhaust Fluid and Bitumen. The company operates with ISO 9001:2015 certification and serves refractory, foundry, abrasive, friction, rubber, steel, and mining sectors.

Differentiator

Problem solved

Functional benefit

Brands

• Fortiplast: Phenolic Novolac Powder Resin series blended with Hexamine, used as binder for shaped and unshaped refractories. Brand names include Fortiplast-1132, 1035, 3095, 1185, 1195, 0882.
• Fortiset
• Fortifuel
• Fortilight
• FORTISET Alpha
• FORTIPLAST S

Products and services

• Fortiplast Novolac Powder Resin

Quantifiable outcome

• 15% increase in polymerization efficiency
• +3 more outcomes

Named customers4 records

Segments7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• TRL Krosaki Refractories (formerly Tata Refractories Ltd)coreTechnology or IntegrationFortis Chemicals operates as a technology partner to TRL Krosaki Refractories, furnishing their requirements of specialty chemicals and resin products for basic refractories, dolomite refractories, flow control products and tap hole clay products. With strong R&D backup, Fortis developed and furnished innovative import substitute products, providing techno-commercial benefits to TRL.
• GRIDCOminorStrategic or Co-development PartnerAlex Green Power Pvt Ltd (acquired in 2019, part of Fortis Group) has entered an agreement with GRIDCO for transmitting power from its 5-Megawatt solar power plant.
• Kalyan JewelersminorChannel Partner/ Reseller/ DistributorOmkara Ventures Pvt Ltd (part of Fortis Group) operates 10 franchise stores of Kalyan Jewelers across major cities including New Delhi, Mumbai, Ahmedabad, Kolhapur.

Scale indicators16 records

Recent moves7 records

Expansion highlights4 records

Regional players

• Atul Ltd: Diversified Indian specialty chemicals company producing resins, intermediates, and performance chemicals. Comparable Indian specialty chemicals manufacturer with broader product portfolio and public-market governance.
• Bakelite Hylam: Indian manufacturer of phenolic resins and surface coatings with decades of presence in domestic industrial markets. Direct regional peer competing in similar Indian refractory and friction segments.

Direct peers

• SI Group: Major global manufacturer of phenolic resins and specialty chemicals serving rubber, adhesives, coatings, and industrial applications. Direct competitor in the substituted phenolic and resole segments used in friction and rubber compounding.
• ASK Chemicals: Global foundry chemicals specialist with phenolic no-bake and shell molding resin systems directly comparable to Fortis's FORTISET Alpha and FORTIPLAST S foundry product lines.
• DIC Corporation: Japanese specialty chemicals manufacturer with significant phenolic resin production for printing inks, coatings, and industrial binders. Comparable in resin chemistry and end-use diversification.
• Sumitomo Bakelite: Japanese specialty chemical company with a strong phenolic resin business serving electronics, abrasives, and refractory applications. Direct product-line competitor in novolac and resole phenolic resins.
• Hexion (formerly Momentive Specialty Chemicals): Global leader in phenolic resins (novolac and resole) serving foundry, refractory, abrasives, friction, and forest products industries. Direct product overlap with Fortiplast and Fortiset lines, though at vastly greater scale and global reach.
• Prefere Resins (formerly Dynea): European phenolic resin manufacturer focused on wood adhesives, insulation, and industrial applications. Closely comparable in product family (novolac/resole resins for binders) and customer segments to Fortis.

Broad incumbents

• BASF: Global chemical giant with broad phenolic resin, binders, and specialty intermediates offerings serving refractories, foundries, and industrial customers. Competitor primarily at the higher end and larger accounts.

Others

• Schenck Process: Industrial solutions provider into mining and process industries where Fortis sells industrial oils and alternate fuels for mining and steel applications. Adjacent ecosystem participant in the same end markets.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/fortischemicalsodisha
• LinkedInlinkedin.com/company/fortis-chemicals---india

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fortis