Vinyl Chemicals
Vinyl Chemicals (India) Limited is a publicly listed, pure-play Vinyl Acetate Monomer (VAM) trading company that imports from global suppliers and distributes within India, with nearly all revenue derived from its parent, Pidilite Industries.
- Company typePublic
- Founded1986
- HeadquartersMumbai, India
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Vinyl Chemicals does
Vinyl Chemicals (India) Limited, a Parekh Group company promoted by Pidilite Industries, was incorporated in 1986 and is publicly listed on the NSE (VINYLINDIA) and BSE (524129). Originally engaged in manufacturing Vinyl Acetate Monomer (VAM) at its Mahad plant in Raigad District, Maharashtra — where it held a major share of the Indian VAM market — the company demerged its manufacturing operations into parent Pidilite Industries in December 2007. Post-demerger, Vinyl Chemicals operates as a single-product, pure-play VAM trading entity that imports/sources from global suppliers and distributes the chemical within India.
The company functions as a low-headcount (11-50 employees) chemical trading intermediary with no manufacturing assets and a near-zero debt balance. Revenue is generated through the buy-sell spread on VAM traded domestically. Vinyl Chemicals has historically derived nearly all of its revenue from its parent company, Pidilite Industries, with related-party transaction limits authorized up to Rs 1,300 crore. FY26 revenue stood at Rs 652.44 crore, with a 10-year ROCE of approximately 28% reflecting the capital-light model. There are no subsidiaries, no patents, no product diversification, and no disclosed AI/technology capabilities.
Vinyl Chemicals is governance-controlled by the Parekh family through the board: M.B. Parekh serves as Chairman & Managing Director, with N.K. Parekh and A.B. Parekh as Non-Executive Directors, supplemented by independent directors and a Company Secretary. Capital allocation has tilted toward shareholder returns, with a Rs 7 per share FY26 dividend declared and a stock price re-rating of approximately 65% between March and May 2026. The strategic posture is best characterized as a capital-efficient, captive trading vehicle rather than a growth-oriented operating business.
Vinyl Chemicals firmographics
Firmographics- Name
- Vinyl Chemicals
- Legal name
- Vinyl Chemicals (India) Limited
- Website
- https://vinylchemicals.com
- Company type
- Public
- Founded year
- 1986
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Vinyl Chemicals (India) Limited is a publicly listed, pure-play Vinyl Acetate Monomer (VAM) trading company that imports from global suppliers and distributes within India, with nearly all revenue derived from its parent, Pidilite Industries.
- Ownership category
- akta.pro rank
Vinyl Chemicals industry classification
Industry- Product category
- Chemical Trading
- NAICS
- Chemical and Allied Products Merchant Wholesalers (4246), Basic Chemical Manufacturing (3251)
- SIC
- Industrial Organic Chemicals (2860), Wholesale-Chemicals & Allied Products (5160)
- akta.pro primary industry
- PVC & Chlor-Vinyl Chain (Chlor-Alkali, EDC/VCM, PVC) (IMAEADAF)
- akta.pro secondary industry
- PVC & Chlorinated Polymers (IMAEANAB)
Keywords
Where Vinyl Chemicals is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Vinyl Chemicals business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel
Revenue model
- VAM Trading: The company generates revenue through trading in Vinyl Acetate Monomer (VAM), importing/sourcing from various global suppliers and distributing/trading in India. Revenue is derived from the margin between purchase and sale prices of VAM.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
Vinyl Chemicals product offering
Product offeringCore offering
Vinyl Chemicals (India) Limited is engaged in the trading of Vinyl Acetate Monomer (VAM), a chemical commodity that is imported/sourced from various global suppliers and distributed/traded in India. The company previously manufactured VAM at its Mahad plant in Raigad District, Maharashtra, but demerged that manufacturing unit into its parent company Pidilite Industries in December 2007, and now focuses solely on VAM trading operations with Pidilite Industries serving as its primary customer.
Product overview
Vinyl Chemicals (India) Limited operates as a single-product chemical trading company focused exclusively on Vinyl Acetate Monomer (VAM). Originally established in 1986 as a manufacturer with a significant market share in India, the company underwent a strategic restructuring in December 2007 when its manufacturing operations were demerged into parent company Pidilite Industries. The company now operates as a pure-play VAM trading business, importing and distributing the chemical across India.
Differentiator
Problem solved
Functional benefit
Products and services
- Vinyl Acetate Monomer (VAM) Trading Trading of Vinyl Acetate Monomer (VAM), a chemical commodity that is imported/sourced from various global suppliers and distributed/traded in India. The company previously manufactured VAM at its Mahad plant but demerged the manufacturing unit into Pidilite Industries in December 2007, and now focuses solely on trading operations, with Pidilite Industries as its primary customer.
Quantifiable outcome
- Dividend yield of 3.25% demonstrating shareholder returns
- +1 more outcomes
Companies that use Vinyl Chemicals
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Vinyl Chemicals technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Vinyl Chemicals partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Pidilite Industries LimitedcorePidilite Industries is the parent company that promoted Vinyl Chemicals in 1986. In December 2007, Vinyl Chemicals de-merged its VAM manufacturing unit into Pidilite Industries for strategic reasons. Currently, Vinyl Chemicals sources VAM from global suppliers and Pidilite Industries remains the primary customer, representing nearly all of Vinyl Chemicals' revenue. Related party transactions with Pidilite are authorized up to ₹1300 crores.
Scale indicators7 records
Recent moves6 records
Expansion highlights2 records
Vinyl Chemicals competitors and assessment
Company assessmentBroad incumbents
- Celanese Corporation: One of the world's largest producers of Vinyl Acetate Monomer (VAM) and a key global supplier from whom Vinyl Chemicals sources imports. Comparable at the product level (VAM) but operates as an integrated global manufacturer rather than a domestic Indian trader.
- Pidilite Industries: Parent company and primary customer of Vinyl Chemicals; Pidilite acquired Vinyl Chemicals' VAM manufacturing operations in 2007 and remains the captive offtaker for the trading business. It is the most structurally connected entity, although it operates across a much broader specialty chemicals portfolio.
- Kuraray Co., Ltd. Japanese specialty chemicals company with significant VAM and PVA/MOWITAL/EVA production. Comparable at the VAM and downstream polymer level and an Asia-based counterpart in the same vinyl acetate value chain.
- Dow Inc. Global integrated chemicals producer with VAM among its industrial intermediates portfolio. Comparable as a potential global supplier and a major participant in the global VAM market that anchors the same commodity pricing environment Vinyl Chemicals trades within.
- Wacker Chemie: Major global producer of VAM and downstream PVA/EVA polymers with strong presence in Asia. Comparable as a VAM-focused industrial chemicals producer and a likely supplier to global VAM traders including Vinyl Chemicals' import channels.
- LyondellBasell Industries: Global petrochemicals major with VAM and acetic acid production. Overlaps with Vinyl Chemicals at the petrochemical/VAM level but operates at vastly greater scale as an integrated olefins and derivatives producer.
- INEOS Group: Global chemicals producer with VAM and acetyls capacity. Comparable at the VAM product level as one of the global supply sources from which Indian VAM traders like Vinyl Chemicals can import product.
Regional players
- Tata Chemicals: Indian-listed diversified chemicals company (soda ash, salt, specialty chemicals). Comparable as a publicly listed Indian chemicals platform, though its product mix (inorganic/basic chemicals) differs from Vinyl Chemicals' pure VAM focus.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights5 records
Customer concentration
Vinyl Chemicals social profiles
Digital presenceVinyl Chemicals financial estimates
Financial estimateRevenue estimate
Valuation estimate
Vinyl Chemicals leadership team
Management profileNumber of profiles
Profiles9 records
Vinyl Chemicals funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Vinyl Chemicals M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Vinyl Chemicals
What does Vinyl Chemicals do?
Vinyl Chemicals (India) Limited is engaged in the trading of Vinyl Acetate Monomer (VAM), a chemical commodity that is imported/sourced from various global suppliers and distributed/traded in India. The company previously manufactured VAM at its Mahad plant in Raigad District, Maharashtra, but demerged that manufacturing unit into its parent company Pidilite Industries in December 2007, and now focuses solely on VAM trading operations with Pidilite Industries serving as its primary customer.
Is Vinyl Chemicals a public or private company?
Vinyl Chemicals is a public company. It is classified as public and is currently operating.
When was Vinyl Chemicals founded?
Vinyl Chemicals was founded in 1986. It employs 11 to 50 people.
Where is Vinyl Chemicals based?
Vinyl Chemicals is headquartered in Mumbai, India, in the Asia region.
How does Vinyl Chemicals make money?
One revenue line is on record: VAM Trading.
Who are Vinyl Chemicals's main competitors?
Broad incumbents on record are Celanese Corporation, Pidilite Industries, Kuraray Co., Ltd., Dow Inc., Wacker Chemie, LyondellBasell Industries and INEOS Group. Tata Chemicals is listed as a regional player.
Does Vinyl Chemicals have an API?
No public API is recorded for Vinyl Chemicals.
What industry is Vinyl Chemicals in?
Vinyl Chemicals's product category is Chemical Trading. Its primary akta.pro industry code is IMAEADAF, PVC & Chlor-Vinyl Chain (Chlor-Alkali, EDC/VCM, PVC), with a secondary code of IMAEANAB, PVC & Chlorinated Polymers. Its NAICS code is 4246 and its SIC code is 2860.