Styrenix Performance Materials Ltd.
STYRENIX.NS
National Stock Exchange of India2,212.40
INR
-19.30
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Styrenix Performance Materials Ltd.
STYRENIX.NS
(National Stock Exchange of India)
Recent
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2,212.40
P/E
ratio
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Styrenix Performance Materials Ltd. manufactures, trades and sells engineering thermoplastics, with a focus on styrenic polymers including Absolac (ABS), a plastic resin produced from acrylonitrile, butadiene and styrene used in home appliances, automobiles, consumer durables and machinery; Absolan (SAN), a polymerized resin from styrene and acrylonitrile applied in lighting, stationery, novelties, refrigerators and cosmetic packaging; Styrenix PS (polystyrene); and styrenic specialties such as ASA (ASALAC), PC+ABS, PA+ABS blends and STYROLOY blends, alongside custom product development and technical support services. The company, founded in 1973 and headquartered in Vadodara, Gujarat, India, operates four production sites in Nandesari, Moxi, Katol and Dahej, all in Gujarat, with an installed capacity of approximately 100,000 MTPA for ABS and 78,000 MTPA for polystyrene; it employs around 500 people and maintains a research and development center in Moxi. Styrenix serves industries including automotive, electronics, household, construction, healthcare, packaging and toys/sports/leisure, primarily targeting the Indian market through a network of regional offices, representatives and distributors, while generating revenue with specialties comprising about 70% and polystyrene 30%. As a subsidiary of Shiva Performance Materials Private Limited, which acquired control in 2022 from INEOS Styrolution, the company changed its name from INEOS Styrolution India Limited in January 2023 and pursues debottlenecking expansions to increase ABS capacity from 85 kt to 105 kt and polystyrene from 66 kt to 105 kt; it launched new products including ASALAC (ASA) as an import substitute and STYROLOY blends targeting a 40,000-50,000 ton addressable market in India. In December 2024, Styrenix executed a share purchase agreement to acquire 100% of INEOS Styrolution (Thailand) Co., Limited through a step-down subsidiary in Thailand owned by its wholly owned Styrenix Performance Materials FZE in Dubai, with the transaction expected to close in early 2025 to enhance global presence and operational scale.