I G Petrochemicals

What I G Petrochemicals does

IG Petrochemicals Ltd. (IGPL) is a publicly listed Indian specialty chemicals manufacturer founded in 1988 and operating continuously since 1992 from a single integrated campus at Taloja, Maharashtra. The company operates five phthalic anhydride (PA) production plants with a combined installed capacity of 270,000 MTPA — the largest single-site PA complex in India and approximately 50% of domestic capacity. Production is based on the Wacker Chemie Von-Heyden Low Energy Process, a catalytic vapor-phase oxidation of ortho-xylene over a vanadium pentoxide/titanium dioxide catalyst, delivering PA purity of ≥99.8%. Integrated infrastructure includes four maleic anhydride (MA) recovery units, a benzoic acid (BA) recovery system, an on-site diethyl phthalate (DEP) esterification plant, and centralized DCS control rooms managing continuous 365-day operations across all five plants.

Beyond the core PA product, IGPL recovers MA (≥99.5% purity) and BA (≥99.5% purity) as byproducts from the same oxidation process and produces DEP (≥99.5% purity) downstream — extracting four commercial products from a single ortho-xylene feedstock. The company serves downstream manufacturers in paints and coatings (alkyd resins), PVC and plasticizers (DOP/DINP/DIDP), resins and composites (UPR), food preservation (sodium benzoate / E211), fragrances and cosmetics, pharmaceutical intermediates, and specialty chemicals. Revenue mechanics are based on direct B2B sales with quote-based pricing, multi-format packaging (bulk tanker, jumbo bags, drums, IBCs), and logistics via the Taloja facility's 50 km proximity to JNPT — India's largest container port.

The company is listed on NSE (IGPL) and BSE (500199), is promoter-managed with 68.74% promoter holding, and reports consolidated quarterly financials under SEBI LODR. Q4 March 2026 net sales reached Rs 524.27 crore, up 9.21% YoY, with EBITDA of Rs 71.52 crore and net profit of Rs 28.07 crore. Distribution is sales-led and direct, with no consumer-facing channels; marketing and demand generation rely on commercial team engagement, technical documentation, and investor relations disclosures. Certifications include ISO 9001:2015, ISO 14001:2015, HALAL, and Star-K Kosher, supporting access to food, pharmaceutical, and export-oriented customers.

Name

I G Petrochemicals

Legal name

IG Petrochemicals Ltd.

Website

https://igpetro.com

Company type

Public

Founded year

1988

Operating status

Operating

Headcount range

101–250 employees

Short description

IG Petrochemicals Ltd. operates India's largest single-site phthalic anhydride complex (270,000 MTPA, ~50% domestic market share) at Taloja, Maharashtra, producing phthalic anhydride, maleic anhydride, benzoic acid, and diethyl phthalate for paints, PVC, plastics, resins, food, pharmaceutical, and cosmetics manufacturers via direct B2B sales.

Ownership category

akta.pro rank

Product category

Phthalic Anhydride and Specialty Industrial Chemicals

NAICS

Petrochemical Manufacturing (32511), Other Basic Organic Chemical Manufacturing (32519)

SIC

Industrial Organic Chemicals (2860), Chemicals & Allied Products (2800)

akta.pro primary industry

Base Aromatics (BTX: Benzene, Toluene, Xylenes) (IMAEADAB)

akta.pro secondary industries

Plasticizers & Solvents (Phthalates/Alternatives, Commodity Solvents) (IMAEADAK), Polyesters & PET Chain (PTA, MEG, PET) (IMAEADAG)

Keywords

• Phthalic anhydride manufacturing
• Specialty industrial chemicals
• Plasticizer intermediates
• Maleic anhydride recovery
• Ortho-xylene catalytic oxidation

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Phthalic Anhydride Sales: Primary revenue stream from sale of phthalic anhydride (≥99.8% purity) to plasticizer, alkyd resin, and unsaturated polyester resin manufacturers. Sold in bulk tanker, jumbo bags, or drums. Approximately 50% of India's domestic PA capacity.
2. Byproduct Sales (Maleic Anhydride & Benzoic Acid): Revenue from recovered byproducts MA (≥99.5% purity) and BA (≥99.5% purity) sold to UPR manufacturers, food-grade acid converters, and pharmaceutical intermediate producers.
3. Diethyl Phthalate Sales: Revenue from downstream specialty product DEP (≥99.5% purity, APHA ≤10) sold to fragrance, cosmetics, pharmaceutical, and specialty polymer industries.
4. Quarterly Financial Performance: Consolidated net sales of Rs 524.27 crore for March 2026, up 9.21% YoY. EBITDA at Rs 71.52 crore, net profit at Rs 28.07 crore. EPS improved to Rs 9.11 from Rs 6.16 YoY.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

IG Petrochemicals manufactures Phthalic Anhydride (PA) at industrial scale — 270,000 MTPA across five plants at a single integrated Taloja, Maharashtra campus — and recovers Maleic Anhydride (MA) and Benzoic Acid (BA) as byproducts and produces Diethyl Phthalate (DEP) as a downstream value-added product, all from a single ortho-xylene feedstock. The PA, MA, BA, and DEP are sold in bulk to downstream manufacturers in paints and coatings, plasticizers for flexible PVC, unsaturated polyester resins, food preservatives, pharmaceuticals, and specialty chemicals.

Product overview

IG Petrochemicals Ltd operates as a specialty chemical manufacturer producing four products from one integrated process. The core product is Phthalic Anhydride (PA) — 270,000 MTPA across five plants at Taloja, Maharashtra — representing approximately 50% of India's domestic PA capacity. Two recovered byproducts (Maleic Anhydride and Benzoic Acid) are extracted from the PA oxidation process, maximizing value from the same ortho-xylene feedstock. Diethyl Phthalate (DEP) is produced downstream via esterification of PA. The integrated model enables byproduct recovery and downstream value addition from a single feedstock cycle.

Differentiator

Problem solved

Functional benefit

Products and services

• Phthalic Anhydride (PA) Industrial intermediate produced at IGPL's Taloja campus using the Wacker Chemie Von-Heyden Low Energy Process with ≥99.8% purity, sold to plasticizer manufacturers, alkyd resin producers, UPR manufacturers, dye and pigment producers. Total installed capacity of 270,000 MTPA across five dedicated plants at the same site.
• Maleic Anhydride (MA) High-purity (≥99.5%) maleic anhydride recovered as a byproduct from four dedicated MA recovery units at the same Taloja campus. Sold as solid briquettes, flakes, or molten to UPR manufacturers, fumaric acid producers, agrochemical manufacturers, and specialty copolymer producers.
• Benzoic Acid (BA) High-purity (≥99.5%) white crystalline benzoic acid flakes recovered as a byproduct of IGPL's PA oxidation process and sold to sodium benzoate converters for food and beverage preservatives (E211), benzoyl chloride producers, pharmaceutical intermediate manufacturers, and specialty chemical synthesizers.
• Diethyl Phthalate (DEP) Downstream specialty plasticizer (≥99.5% purity, APHA ≤10) produced by direct esterification of IGPL's PA at the Taloja campus and sold to fragrance and cosmetics manufacturers as a fragrance fixative and carrier, pharmaceutical excipient users (solvent and plasticizer for tablet film coatings and enteric coatings), and specialty polymer producers.

Quantifiable outcome

• 9.79% reduction in specific power consumption (FY26 vs baseline)
• +5 more outcomes

Named customers6 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

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Thirumalai Chemicals LtdcoreStrategic or Co-development Partner · 15 March 2026Joint petitioners in anti-dumping investigation filed with Directorate General of Trade Remedies (DGTR) against phthalic anhydride imports from Taiwan. Three Indian PA producers filed complaint citing 38% surge in Taiwanese imports to $38.82 million in FY25, threatening domestic capacity utilization.
• TCL Intermediates Pvt LtdcoreStrategic or Co-development Partner · 15 March 2026Joint petitioners in anti-dumping investigation filed with Directorate General of Trade Remedies (DGTR) against phthalic anhydride imports from Taiwan. Three Indian PA producers filed complaint citing 38% surge in Taiwanese imports to $38.82 million in FY25.
• Wacker Chemie GmbHcoreTechnology or IntegrationLicensor of Von-Heyden Low Energy Process technology for catalytic vapor-phase oxidation of ortho-xylene to phthalic anhydride. IGPL has operated this technology across five plant expansions since 1992.

Scale indicators16 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Laxmi Organic Industries Ltd: Indian specialty chemicals manufacturer producing acetic acid and downstream intermediates including specialty esters. Comparable as an Indian specialty intermediates player expanding into similar downstream chemistries, though not a direct PA competitor.

Regional players

• Aekyung Chemical Co., Ltd. Korean phthalic anhydride and plasticizer producer serving Asian markets. Comparable in PA technology and downstream integration, though focused primarily on Korean and Northeast Asian customers rather than India.

Broad incumbents

• LANXESS AG: German specialty chemicals company with material exposure to phthalate plasticizers, urethane systems, and industrial intermediates. Comparable as a downstream consumer and producer in the PA-plasticizer value chain IGPL is expanding into.
• Stepan Company: US-based specialty and intermediate chemicals manufacturer producing phthalic anhydride, plasticizers, and polymer intermediates. Comparable in PA and downstream intermediates, though with a US/Europe focus and broader specialty product mix.
• ExxonMobil Chemical: Integrated petrochemical producer with significant para-xylene and ortho-xylene capacity feeding aromatics derivatives. Comparable as a large-scale aromatic feedstocks and derivatives competitor, though ExxonMobil's portfolio extends well beyond PA.
• BASF SE: Global petrochemicals and specialty chemicals major producing phthalic anhydride, plasticizers, and downstream resins. Overlaps with IGPL in PA, MA, and plasticizer chemistries but as part of a much broader global portfolio rather than focused on the Indian PA market.

Others

• Asian Paints Ltd: India's largest decorative paints manufacturer and a major consumer of PA-derived alkyd resins. Included as the most consequential downstream customer for IGPL's PA output, illustrating end-market demand linkages rather than direct competition.

Direct peers

• Thirumalai Chemicals Ltd: Indian phthalic anhydride producer and fellow petitioner (alongside IGPL) in the March 2026 DGTR anti-dumping case against Taiwanese PA imports. Directly comparable as another domestic PA manufacturer serving the same paints, PVC, and resin customers.
• TCL Intermediates Pvt Ltd: Indian phthalic anhydride producer and the third joint petitioner with IGPL and Thirumalai Chemicals in the DGTR anti-dumping investigation. Closely comparable as a domestic PA competitor targeting overlapping downstream customers.
• UPC Technology Corporation: Taiwan-based phthalic anhydride and maleic anhydride producer named as the principal target of the FY26 anti-dumping investigation. Comparable in product portfolio and feedstock orientation, though it competes against IGPL via exports into India rather than in the domestic market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 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 I G Petrochemicals