Omkar Speciality Chemicals

Omkar, set up in 1983, manufactures speciality chemicals, organic and inorganic chemicals, and inorganic intermediates, such as iodine, selenium, molybdenum, and their derivatives. The company's managing director, Mr. Pravin Herlekar, has nearly 35 years of experience in the speciality chemicals business. The company manufactures around 80 products for an established clientele, such as Dr. Reddy's Laboratories Ltd, Cipla Ltd, Biocon India Ltd (rated 'CRISIL AA+/Stable/CRISIL A1+'), Asahi India Glass Ltd, Jubilant Organosys Ltd, Cadila Healthcare Ltd (rated 'CRISIL AA+/Stable/CRISIL A1+'), and Lupin Ltd. In January 2011, Omkar made an initial public offering of its shares and raised Rs.790 million to finance the expansion and modernization of its existing facilities and to set-up a new manufacturing facility. The company has subsequently acquired a 100 per cent stake in Urdhva Chemicals Company Private Limited and Desh Chemicals Private Limited for the purpose of further expanding its manufacturing capacity. For 2011-12 (refers to financial year, April 1 to March 31), Omkar reported a profit after tax (PAT) of Rs.160 million on net sales of Rs.1.63 billion, against a PAT of Rs.101.8 million on net sales of Rs.1.04 million for 2010-11.