Archean Chemical Industries Limited (ACI) share price

₹470.45 on NSE as of 2026-09-11. -2.10% on the day. market cap ₹5,807 Cr. P/E 59.6. 52-week range ₹470.45 to ₹715.60. Chemicals.

What the company does

ACIL is a leading speciality chemical manufacturing company with wide presence in the global markets. It was incorporated in 2009 and has a processing facility in the Rann of Kutch. The plant is an integrated facility with capability to produce bromine, industrial salt and SOP. ACIL is the largest exporter of bromine and industrial salt from India, and among the lowest cost producers of bromine and industrial salt globally. Raw material, brine, is found in the brine reserves of Rann of Kutch. The company markets products to 39 global customers across 13 countries, and to 30 domestic clients. ACIL has its manufacturing plant in Hajipir, Gujarat. It is first of its kind integrated unit in India to produce industrial salt, bromine and SOP. As on March 31, 2024, the promoter group, led by Mr Ranjit Pendurthi, held 53.45% stake in ACIL, mutual fund comprised of 11.91%, insurance companies 5.13%, IRF Scheme 1 & 2: 7.38%, and the balance is held by the public and others.

Filed by CRISIL, page 4.

Archean Chemical Q1 FY27: Bromine Revenue Up 58%, Salt Down 12%, and a ₹2,067 Crore Semiconductor Fab Attached to a Salt Pan

At a glance

A company that evaporates seawater in the Rann of Kutch now also builds silicon carbide MOSFETs in Odisha. Both statements are true, both are in the same annual report, and only one of them currently earns money.

The June 2026 quarter: consolidated revenue ₹327 Cr, up 11.9% from ₹292 Cr a year ago. Operating profit ₹67 Cr against ₹78 Cr — margin 21% versus 27%. Net profit ₹31 Cr against ₹40 Cr, a 23.7% fall. Against the March quarter, though, everything went the other way: operating profit rose from ₹44 Cr to ₹67 Cr, profit from ₹13 Cr to ₹31 Cr.

The two halves of the business went in opposite directions. Per the investor presentation, bromine revenue grew 58% YoY to ₹133 Cr on 4,175 tonnes with firmer realisations. Industrial salt revenue fell 12% to ₹171 Cr on 0.98 million tonnes, which management attributes to logistics and cost pressures — specifically a Gujarat government road-repair circular that lengthened the truck route from the Hajipir plant to port by 50–100%, alongside a roughly 50% rise in per-litre fuel cost.

Meanwhile the bromine derivatives subsidiary, Acume, turned EBITDA-positive at ₹1.9 Cr against ₹-2.7 Cr a year ago. Sulphate of potash, dormant for years, recorded ₹11.3 Cr of revenue.

So: a marine chemicals company whose salt trucks are stuck in a detour, whose bromine is finally repricing, and whose subsidiaries include a UK battery startup and India's first compound semiconductor fab. There is a lot happening in a business that starts with letting the sun dry seawater.

Introduction

Archean Chemical Industries Limited was incorporated in 2009, listed on BSE and NSE in 2022, and describes itself as India's largest exporter of bromine and industrial salt in Fiscal 2021. The manufacturing base is an integrated facility at Hajipir, Gujarat, on the edge of the Rann of Kutch — land held on lease from the Government of Gujarat under an MOU dated 2010 that expired on July 31, 2018, with a renewal application filed in December 2017. Management states it is confident of obtaining the renewal, and has been paying revised lease rents against annual demand notes.

The recent history is a company adding entities faster than most companies add product lines. Acume Chemicals makes bromine derivatives at Jhagadia. Idealis Chemicals holds Idealis Mudchemie, acquired for ₹76.9 crore through an NCLT e-auction, formerly Oren Hydrocarbons, with five plants across Gujarat, Andhra Pradesh and Tamil Nadu. Neun Infra holds 70% of SiCSem, the semiconductor vehicle. Alongside these sit a 21.84% stake in UK-based Clas-SiC Wafer Fab and a $12 million investment for 21% of Offgrid Energy Labs, a zinc-bromide battery company.

The last twelve months have been busy at the top. In January 2026 the board appointed Rampraveen Swaminathan as Managing Director for a five-year term and elevated P. Ranjit to Executive Vice Chairman, both confirmed by postal ballot concluding March 12, 2026. N R Kannan resigned as Executive Director effective April 30, 2026.

Also on the record: on September 9, 2025, the Income Tax Department concluded a search at the company's offices and plants. Per management as recorded by Crisil, no demand or violation notice had been received and the financial impact was unknown. Two days later, Crisil revised the outlook on the company's ₹265 crore bank facilities to Negative while reaffirming the rating at Crisil A.

Business model

Archean's business plan is, at its foundation, wait. Seawater goes into ponds. The sun does the work. What crystallises out is Grade-1 industrial salt at over 99.5% NaCl purity, sold at 7.5 MMTPA installed capacity into the chlor-alkali industry, where it becomes caustic soda and soda ash. This is a 100% export-oriented segment. It was 70% of FY26 revenue.

The clever part is what's left over. The brine that remains after halite crystallises still contains bromine — 42,000 MTPA of installed capacity, extracted by a steaming-out process that Crisil describes as more cost-effective than the blowing-out method used in China and Japan. Bromine goes into flame retardants, disinfectants, water treatment, pharmaceuticals. It was 30% of FY26 revenue. The mixed salts precipitating alongside yield sulphate of potash, a chloride-free fertiliser for crops that dislike chlorine — 1,32,000 MTPA of capacity that has, until this quarter, produced approximately nothing, because the raw material carried too much sodium chloride.

Then the value-add layers. Acume takes captive bromine and makes clear brine fluids (13,000 MTPA) for oil-well completion, PTA catalysts (5,000 MTPA) for polyester, and eventually flame retardants (10,000 MTPA, under evaluation). Idealis Mudchemie makes drilling muds for the same oil rigs. Offgrid makes batteries whose chemistry is, conveniently, zinc bromide. SiCSem makes semiconductors, which have nothing to do with brine whatsoever, and represents the point at which the seawater metaphor gives up.

Geography: 78% outside India in FY26, 22% domestic. Customer concentration is the structural feature — 77 clients total, but the largest is 36% of revenue and the top ten are 77%. That largest customer, per Crisil, is Sojitz Corporation of Japan, which has committed offtake of roughly 2.2 million MTPA of industrial salt and which also, per the company's history slide, took a strategic investment in Archean back in 2011. Your biggest customer being an early shareholder is one way to secure a contract.

Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Archean Chemical Industries Limited.

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