Indo Borax & Chemicals Limited – Company Report
1. Company Overview
Indo Borax & Chemicals Limited (IBCL), established in 1980, is a leading Indian manufacturer specializing in boron-based chemicals such as boric acid and borax. The company commissioned its first boric acid plant in Asangaon, Maharashtra, in 1981, followed by a borax plant in 1983. Currently, IBCL operates its main manufacturing facility in Pithampur, Madhya Pradesh, equipped with state-of-the-art, in-house clean-processing technology and captive power generation.
IBCL became publicly listed in 1993, with its IPO oversubscribed by over 1600%, underscoring strong investor confidence. As of 2025, the company has a shareholder base of over 28,000 and is led by Managing Director Sajal Jain. It holds BIS certification for technical grade boric acid, a fertilizer license, and is the only Indian manufacturer with FDA approval to produce pharmaceutical (IP) grade boric acid.
- Incorporated: 1980
- Headquarters: Mumbai, Maharashtra
- Managing Director: Sajal Jain
- Primary Facility: Pithampur, Madhya Pradesh
- Certifications: BIS, FDA (for IP grade), Fertilizer License
- Public Listing: 1993
- Core Products: Boric acid, borax, boron-based specialty chemicals
2. Products and Services
IBCL manufactures a range of boron-based chemical products used across industries such as pharmaceuticals, agriculture, metallurgy, glass, ceramics, and fire retardants:
Boric Acid (Technical Grade – Powder & Granular):
- Applications: Welding, brazing, lubricants, nuclear energy, catalysts, dishwashing, fire retardants, fertilizers.
Boric Acid IP Grade:
- Only FDA-approved producer in India.
- Applications: Eye wash, creams, foot powder, ointments, shampoos, and veterinary/personal care formulations.
Borax Decahydrate (Granular & Crystal):
- Applications: Glass, ceramics, soap, steel production, agriculture, metallurgy.
Disodium Octaborate Tetrahydrate (D.O.T.):
- Developed in-house as a boron nutrient for solution/suspension fertilizers and foliar sprays.
- Also used in fire-retardant treatments for cotton, wood, and paper.
Other Specialty Chemicals:
- Includes Lithium Hydroxide and Boron Oxide for niche industrial applications.
The company is widely recognized for its consistent quality, reliable delivery, and R&D focus on high-margin, specialty boron derivatives.
3. Recent News and Financial Performance
Business Developments:
- IBCL continues to expand its portfolio of value-added boron-based specialty chemicals.
- It maintains a reputation as the industry benchmark for boric acid quality in India.
- The company is actively investing in technology, compliance, and product innovation.
4. Financial Performance (FY2025)
| Metric | FY2025 Value |
|---|---|
| Total Income | ₹191 crore |
| Net Profit (PAT) | ₹42.5 crore |
| Operating Profit Margin | 26% |
| Net Profit Margin | 22% |
| Earnings Per Share (EPS) | ₹13.25 |