Kiri Industries Announces Successful Resolution of DyStar Matter, Plans Diversification into Copper and Fertilizer Manufacturing
Kiri Industries Limited announced the successful conclusion of the dispute relating to the company’s investment in DyStar, following a final order by the Singapore Court. The resolution resulted in the receipt of USD 689 million, equivalent to approximately INR 5,854 crore, significantly strengthening the company's balance sheet.The company is now entering a new strategic phase focused on long-term growth through diversification into copper and fertilizer manufacturing, alongside continued strengthening of its specialty chemicals platform.
Established in 1998, Kiri Industries Limited is a leading manufacturer and exporter of dyes, dye intermediates, and basic chemicals from India. The company operates a vertically integrated manufacturing model spanning Basic Chemicals → Dye Intermediates → Dyes. Kiri Industries operates facilities in Gujarat, including dye, dye intermediates and basic chemicals units, and has a global footprint across 50+ countries.
Key Milestones and Strategic Initiatives:
- DyStar Resolution: A dispute relating to the Company's investment in DyStar has been successfully concluded following the final order of the Singapore Court.
- Capital Realization: The company received proceeds of USD 689 million, translating to approximately INR 5,854 crore.
- Diversification: The company is strategically diversifying into copper smelting and fertilizers through Indo Asia Copper Limited.
- Copper Demand: Copper demand is expected to increase by ~50% by 2040 due to global electrification trends.
- Indo Asia Copper Limited: This wholly-owned subsidiary will develop an integrated copper smelting and fertilizer complex in Jafrabad, Gujarat. The project entails a total project cost of approximately INR 8,100 crore for the copper complex, INR 3,600 crore for the fertilizer project, and INR 1,600 crore for the renewable power project and jetty.
| PARTICULARS (INR Mn) | FY23 | FY24 | FY25 | 9M-FY26 |
|---|---|---|---|---|
| Revenue from Operations | 6,679 | 7,086 | 7,400 | 5,891 |
| Profit After Tax | (1,331) | (913) | (1,084) | 48,809 |
| Diluted EPS (INR per share) | 24.89 | 31.95 | 42.81 | 824.52 |
The company’s shares are traded on the BSE with Scrip Code: 532967.
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