Performance and Other Chemicals segment 2024-25 2023-24 change Sales (` cr) 3,818 3,236 582 Share in total sales (%) 70% 70% - Performance and Other Chemicals segment consists of five sub-segments, namely, Aromatics-II, Bulk Chemicals and Intermediates, Colors, Polymers - Performance Materials and Polymers - Retail. Aromatics – II Product groups: intermediates, perfumery, others The products falling under these product groups are mainly used by customers belonging to the Fragrance and Personal Care industries. The product groups comprise about 42 products. para Cresol, para Anisic aldehyde and para Cresidine are some of the key products. During 2024-25, sales increased by 14% from ` 736 cr to ` 837 cr. Sales in India increased by 17% from ` 290 cr to ` 339 cr. Sales outside India increased from ` 446 cr to ` 498 cr and formed 59% of the total sales. Growth on account of volume was 16%. The Company completed one project during the year. The world market for para Cresol was valued at US$ 6.25 bn in 2024 and is growing at about 4.5%. While the product was previously manufactured in the UK and the USA, China and India are now its major suppliers. The size of the world Fragrance industry is estimated at US$ 18 bn in 2025 and is growing at about 5%. The size of the world Personal Care industry is estimated at US$ 293 bn in 2025, of which the personal care ingredients segment is US$ 15.48 bn and is growing at about 5%. formed 45% of the total sales. Growth on account of volume was about 16%. Sales of Atul Bioscience Ltd (ABL), a 100% subsidiary company, increased by 4% from ` 131 cr to ` 136 cr. Sales in India increased by 13% from ` 103 cr to ` 116 cr. Sales outside India decreased by 29% from ` 28 cr to ` 20 cr and formed 15% of the total sales. Seven Drug Master Files were filed during the period, taking the total number of regulatory filings to 37 across the regulated markets. All the three sites (including two sites of ABL) have successfully cleared USFDA inspections with zero US-483 observations. The world Pharmaceuticals industry grew marginally from US$ 1.56 tn in 2023 to US$ 1.61 tn in 2024 and is expected to reach US$ 1.7 tn by 2025. The API industry, valued at US$ 210 bn in 2024, is estimated to reach US$ 359 bn by 2032. The Indian Pharmaceuticals industry valued at US$ 65 bn in 2024, is expected to reach about US$ 107 bn by 2030, with further growth projected to US$ 174 bn by 2033 — reflecting a CAGR of 11.32% between 2025 and 2033. The Company, along with ABL, will participate in this growth by — i) leveraging the regulatory clearances obtained for all its facilities, ii) increasing manufacturing efficiencies, iii) debottlenecking and adding capacities and iv) introducing new products. Fluctuations in foreign exchange may impact sales. Key trends such as tariff-related uncertainties, supply chain disruptions, rising inflation and evolving ESG expectations may influence growth. 68 68 Integrated Annual Report 2024-25
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