Meghmani Organics

What Meghmani Organics does

Meghmani Organics Limited (BSE: 532865; NSE: MOL) is an India-listed specialty chemicals manufacturer founded in 1986 and headquartered in Ahmedabad, Gujarat. The company operates four business segments — Crop Protection (technical pesticides, intermediates, and formulations such as pyrethroids, neonicotinoids, diamides, and 2,4-D herbicides), Crop Nutrition (Nano Urea, Nano DAP, Nano NPK and Nano Zinc via subsidiary Meghmani Crop Nutrition Ltd using IFFCO technology), Pigments (phthalocyanine green and blue, azo pigments and high-performance pigments under the Meghafast brand), and Titanium Dioxide (anatase and rutile grades via subsidiary Kilburn Chemicals Ltd). The firm holds the #3 global position in phthalocyanine pigments with 14% market share and ranks among the top 10 pesticide producers in India, supported by 750+ CIB and Export Registrations and a GLP-accredited, CSIR-registered R&D centre at Sanand.

The company operates 9 backward-integrated, ISO-certified manufacturing facilities concentrated in Gujarat's chemical belt, employing 1,001–5,000 staff. Its go-to-market is enterprise B2B: direct sales to global agrochemical and pigment MNCs in 75+ countries through wholly-owned subsidiaries in the US and Brazil plus a Shanghai representative office, alongside a 3,500+ distributor network for the domestic Indian market. Revenue mix in FY21 was approximately 64% Crop Protection (Rs 10,451 Mn at 22.4% EBITDA margin) and 36% Pigments (Rs 5,784 Mn at 18.1% EBITDA margin), with TiO2 and nano fertilizers as newer growth verticals.

Most recent reported financials show FY23 revenue of INR 25,567 Mn and FY23 EBITDA of INR 3,640 Mn, with subsequent quarters deteriorating — Q3 FY26 revenue fell 10.51% YoY and Q4 FY26 revenue dropped 14.3% YoY, while Q4 FY26 net profit fell 59.6% YoY and EBITDA margin compressed from 11.8% to 4.1%, signaling near-term cyclical pressure on the core book even as nano fertilizer approvals and TiO2 capacity expansion progress.

Name

Meghmani Organics

Legal name

Meghmani Organics Limited

Website

https://meghmani.com

Company type

Public

Founded year

1986

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Meghmani Organics is an India-listed specialty chemicals manufacturer producing agrochemicals (insecticides, herbicides), phthalocyanine and azo pigments (top 3 globally, 14% share), titanium dioxide, and nano fertilizers, selling to enterprise customers across 75+ countries from 9 Gujarat-based facilities.

Ownership category

akta.pro rank

Product category

Agrochemicals and Specialty Chemicals Manufacturing

NAICS

Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing (3253), Synthetic Dye and Pigment Manufacturing (32513), All Other Basic Organic Chemical Manufacturing (325199)

SIC

Agricultural Chemicals (2870), Chemicals & Allied Products (2800)

akta.pro primary industry

Crop Protection Chemicals (Herbicides/Insecticides/Fungicides) (IMAEAEAI)

akta.pro secondary industry

Color Blends & Formulation Systems (Standardized Blends, Shade Matching) (AFAJAEAF)

Keywords

• Agrochemical manufacturing
• Crop protection products
• Phthalocyanine pigments
• Titanium dioxide production
• Specialty chemical intermediates

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Crop Protection Products: Manufacturing and sale of pesticides including technical, intermediates, and formulations. Products include insecticides, herbicides, and related agrochemical products. Revenue split of 64% of overall company revenues (FY21: Rs 10,451 Mn).
2. Pigment Products: Manufacturing and export of phthalocyanine-based pigments (green and blue) and azo pigments for printing inks, paints and coatings, and plastics. Revenue split of 36% of overall company revenues (FY21: Rs 5,784 Mn). Approximately 75% of pigment revenues come from exports.
3. Titanium Dioxide (TiO2): Production of TiO2 Anatase Grade and TiO2 Rutile Grade through subsidiary Kilburn Chemicals Limited. Import substitution product for paints, coatings, plastics, ink, dyes, paper and cosmetics.
4. Crop Nutrition Products: Manufacturing of nano fertilizer products including Nano DAP, Nano NPK, Nano Zinc, and Nano Urea through subsidiary Meghmani Crop Nutrition Ltd. Production facility with capacity of 5 crore bottles (500 ml each) per year.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Meghmani Organics manufactures and sells specialty chemicals across four segments: Crop Protection (technical pesticides, intermediates, and formulations including insecticides, herbicides, and fungicides); Crop Nutrition (Nano Urea, Nano DAP, Nano NPK, and Nano Zinc liquid fertilizers through subsidiary Meghmani Crop Nutrition Ltd); Pigments (phthalocyanine, azo, and high-performance pigments under the Meghafast brand for printing inks, paints, coatings, and plastics); and Titanium Dioxide (anatase and rutile grades through subsidiary Kilburn Chemicals Ltd). It sells B2B to agrochemical MNCs, pigment manufacturers, and fertilizer distributors globally.

Product overview

Meghmani Organics is a diversified chemical company operating four main business segments: Crop Protection, Crop Nutrition, Pigments, and Titanium Dioxide. The Crop Protection segment includes technical grade pesticides, intermediates, and formulations (insecticides and herbicides) with over 20 active ingredients including pyrethroids, neonicotinoids, and diamides. The Crop Nutrition segment, operated through subsidiary Meghmani Crop Nutrition Ltd, produces nano fertilizers including Nano Urea, Nano DAP, Nano NPK, and Nano Zinc. The Pigments segment manufactures phthalocyanine-based pigments (green and blue), azo pigments, and high performance pigments under the Meghafast brand for printing inks, paints and coatings, and plastics applications. The Titanium Dioxide segment, acquired through Kilburn Chemicals Ltd, produces anatase and rutile grade TiO2 for paints, coatings, plastics, inks and cosmetics. The company operates 9 manufacturing facilities in Gujarat's chemical hub and exports to 75+ countries.

Differentiator

Problem solved

Functional benefit

Brands

• Meghafast: Brand name for pigment products including Meghafast Blue and Meghafast Green pigments for printing inks, paints and coatings, and plastics applications
• Meghmani Nano Urea

Products and services

• Bifenthrin Technical Highly effective broad-spectrum pyrethroid insecticide and acaricide with technical purity 97% Min, used in agriculture crop protection, public health, and wood treatment applications.
• Lambda Cyhalothrin Technical Highly effective synthetic pyrethroid insecticide with rapid knockdown and broad-spectrum control of insect pests for agriculture, public health, and professional pest management.
• Cypermethrin Technical Widely utilized synthetic pyrethroid insecticide with broad-spectrum efficacy against insect pests via contact and stomach action; used in agriculture, public health, and residential pest control.
• Acetamiprid Technical Effective neonicotinoid insecticide targeting the central nervous system of insects with broad-spectrum efficacy against sucking insects in agriculture and pest management.
• Deltamethrin Technical Advanced synthetic pyrethroid insecticide with exceptional potency and broad-spectrum activity; used in professional pest management, public health vector control, and agricultural crop protection.
• Chlorantraniliprole Technical Anthranilic diamide insecticide providing targeted control of broad-spectrum pests including lepidopteran larvae and beetles; used in integrated pest management and resistance management programs.
• Flubendiamide Technical Powerful selective diamide insecticide from the phthalic diamide class with distinct mode of action for insect resistance management against lepidopteran pests.
• Permethrin Technical Highly effective synthetic pyrethroid insecticide with versatile applications in public health, agricultural crop protection, veterinary, and household pest control.
• Fipronil Technical Phenylpyrazole insecticide with unique mode of action and broad-spectrum control; essential in professional pest management, agriculture, veterinary medicine, and termite control.
• 2,4-D Herbicide Technical Most widely used selective herbicide globally; synthetic auxin that mimics natural plant hormones causing uncontrolled growth to control broadleaf weeds in lawns, agricultural fields, and industrial sites.
• Triclopyr Herbicide Technical Highly effective selective herbicide for control of broadleaf weeds and woody plants; absorbed by foliage and roots, used in forestry, industrial sites, and non-crop areas.
• Pesticide Intermediates Intermediate chemicals used as inputs in pesticide manufacturing for crop protection, veterinary, public health, and wood protection applications.
• Technical Pesticides Technical grade pesticide active ingredients manufactured by Meghmani for crop protection; the company is among the top 10 pesticide producers in India with FY21 segment revenue of Rs 10,451 Mn and 22.4% EBITDA margin.
• Pesticide Formulations Ready-to-use pesticide formulations including multiple formulation types (EC, SC, WG, WP, SE) of insecticides and herbicides for diverse application methods.
• Meghafast Phthalocyanine Pigments Phthalocyanine-based pigments (green and blue variants) for printing inks, paints and coatings, and plastics; Meghmani is among the top 3 global players with 14% global market share, and approximately 75% of pigment revenues come from exports.
• Meghafast Azo Pigments Azo pigment product line including yellows, oranges, and reds in various formulations for paste inks and liquid inks (Flexo and Gravure).
• Meghafast High Performance Pigments High-performance pigment products for demanding applications including automotive coatings, industrial finishes, and specialty printing; features superior color strength, light fastness, and heat stability.
• Titanium Dioxide (TiO2) Anatase Grade TiO2 anatase grade pigment produced at Kilburn Chemicals facility as an import substitute for paints, coatings, plastics, inks, paper, and cosmetics; part of the 33,000 MT production capacity expansion.
• Titanium Dioxide (TiO2) Rutile Grade TiO2 rutile grade pigment for industrial applications; produced at KCL's facility with capacity expansion from 16,500 to 33,000 MT.
• Nano Urea Liquid Fertilizer Next-generation low-dose nano fertilizer with 20% nitrogen concentration offering over 80% nitrogen use efficiency; environmentally friendly, providing nitrogen via foliar application with a recommended dose of 500 ml/acre.
• Nano DAP Fertilizer Nano phosphorus (DAP) fertilizer approved for manufacturing at Sanand facility in Gujarat, expanding Meghmani's crop nutrition portfolio for the upcoming Kharif season.
• Nano NPK Fertilizer Nano nitrogen-phosphorus-potassium fertilizer approved for manufacturing; expands Meghmani's crop nutrition product offerings.
• Nano Zinc Fertilizer Nano zinc fertilizer approved for manufacturing at Sanand facility as part of the expanded nano fertilizer product line.

Quantifiable outcome

• 14% global market share in phthalocyanine pigments
• +5 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• IFFCO (Indian Farmers Fertiliser Cooperative)coreStrategic or Co-development PartnerTechnology agreement with fertilizer cooperative giant IFFCO for nano urea (liquid) fertilizer production through subsidiary Meghmani Crop Nutrition Ltd. MCNL is using IFFCO's technology to manufacture Meghmani Nano Urea products.

Scale indicators21 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• DIC Corporation: Tokyo-headquartered global pigment and printing inks giant with leadership in phthalocyanine pigments. Overlaps with Meghmani's Meghafast phthalocyanine blue and green products and competes globally for the same printing inks and coatings customers.
• ADAMA Ltd: Israel-headquartered global crop protection company offering post-patent herbicides, insecticides, and fungicides. Competes with Meghmani's crop protection portfolio in the same off-patent pyrethroid and other active ingredient categories across multiple geographies.
• Heubach Group: German specialty chemicals group and one of the world's largest pigment manufacturers with phthalocyanine, azo, and high-performance pigment offerings. Direct global competitor to Meghmani in pigments serving inks, coatings, and plastics customers.

Direct peers

• PI Industries: Leading Indian agrochemical company focused on contract manufacturing and branded formulations for global innovators. Comparable to Meghmani on pyrethroid and other crop protection active ingredients, with overlapping R&D-driven process development capabilities.
• Kronos Worldwide: Global titanium dioxide producer with TiO2 facilities serving paints, coatings, plastics, and paper. Directly comparable to Meghmani's Kilburn Chemicals TiO2 business on product type, grade (anatase and rutile), and end-market overlap.
• Atul Limited: Diversified Indian chemical company with pigments and agrochemical intermediates in its portfolio along with other specialty chemicals. Comparable to Meghmani on the integrated chemical manufacturing model and presence in pigments plus crop protection adjacencies.
• UPL Limited: India's largest crop protection chemicals manufacturer with a global footprint of branded post-patent agrochemicals. Directly comparable to Meghmani's crop protection segment on product type (insecticides, herbicides, fungicides), B2B export model, and Indian manufacturing footprint.
• Sudarshan Chemical Industries: India's largest pigment manufacturer producing phthalocyanine, azo, and high-performance pigments plus effect pigments. Directly competes with Meghmani's pigments segment and shares the export-led B2B sales motion.

Regional players

• Navin Fluorine International: Indian specialty fluorochemicals and agrochemical intermediates manufacturer serving global innovators through contract development. Comparable to Meghmani on the Indian contract manufacturing and agrochemical intermediates model, though more focused on fluorine chemistry.
• Rallis India (Tata Group): India-based crop protection and seeds company with a domestic distribution footprint similar in scale to Meghmani's India channel. Comparable on Indian agrochemical distribution through 3,500+ distributors and branded formulations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MeghmaniO
• LinkedInlinkedin.com/company/meghmani-organics-ltd-sdr

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries6 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 Meghmani Organics