Ducol Organics And Colours Limited Acquires 50.67% Stake in Xchem Polymers India in Phase 1 Deal

Ducol Organics And Colours Limited Acquires 50.67% Stake in Xchem Polymers India in Phase 1 Deal​

Ducol Organics & Colours Limited, a company specializing in pigment dispersions and master batches, has significantly strengthened its presence in the construction chemicals sector. The company announced the successful completion of Phase 1 of its acquisition of a majority stake in Xchem Polymers India Private Limited.

The transaction involved Ducol completing a cash consideration payment of ₹38 crores for the acquisition of a 50.67% majority stake in Xchem. This marks the initial phase of Ducol's proposed full acquisition of 100% stake in Xchem. The Sale and Purchase Agreement (SPA) covering the total transaction value of ₹75 Crore was signed on March 26, 2026.

Ducol Organics & Colours Limited primarily focuses on the development, manufacturing, marketing, and distribution of dispersions and master batches for industries including paints, ink, textile, rubber, plastic, paper, and FMCG.

Strengthening the Construction Portfolio​

Xchem Polymers India Private Limited, incorporated in 2010, is a specialized player in the construction chemicals and industrial adhesives market. The company develops and manufactures high-performance materials, including waterproofing compounds, tile adhesives, repair mortars, sealants, and specialty coatings. With operations run from a state-of-the-art facility in Vapi, Gujarat, Xchem serves the growing needs of the construction, real estate, and infrastructure sectors. The company is noted for its decade of operational experience and its strong capability in formulation science.

The acquisition enhances Ducol's portfolio, reinforcing its commitment to disciplined inorganic growth and strategic diversification in specialty and construction chemicals. Xchem Polymers India Pvt. Ltd. was highlighted as a debt-free company possessing a comfortable working capital position.

Strategic Outlook​

Commenting on the development, Mr. Aamer Ahmed Farid, Managing Director of Ducol Organics & Colours Ltd., stated that completing Phase 1 is a pivotal step for the company. He noted that becoming the majority shareholder positions the company to build a powerful, integrated platform in waterproofing and construction chemicals.

According to Mr. Farid, the integration of the "Bitumag and Xchem ecosystem" will enable the company to serve the entire construction value chain in a more holistic manner, while also opening new avenues in international markets.

The key financial and transaction details are summarized below:


Ducol Organics and Colours Limited, which began its journey with commercial production in 1995, remains focused on building a diversified, future ready portfolio through value accretive opportunities.

DUCOL Stock Price Movement​

Shares of Ducol Organics And Colours Limited are edging higher to ₹112.75 as of 2:31 PM today, showing a healthy gain of 0.85% in live trading. The equity has witnessed 2,400 shares changing hands, indicating active buying interest throughout the session.