Domestic chemical companies to benefit from curbs on Chinese imports, Neogen Chemicals' Joint MD Harin Kanani tells Anil Singhvi

Indian companies have been benefitting from the shrinking of Bromine and Lithium-based chemical manufacturing space for China and the post Covid-19 scenario has only enhanced the ongoing trend, Harin Kanani, Joint Managing Director (MD) at Neogen Chemicals told Zee Business Managing Editor Anil Singhvi in an exclusive chat. (#NewsParViews)

Many manufacturing plants had shut down in China, aiding the Indian companies, especially in the production of bromine-based chemicals, Kanani said while speaking with the Market Guru. These businesses started looking for alternate arrangements in India, fearing disruption in the supply chain. The domestic companies have already been benefitting from this situation, Kanani said.

The post Covid-19 situation is an opportunity for many companies, including Neogen, to increase its market share, he further added.  

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On his company’s operations, Kanani said that Neogen has been working in full capacity from the last year, itself. It started doubling the production capacity during the last year and has already doubled its Lithium molecules capacity by February this year. The work is ongoing in doubling the capacity of Bromine, which is an organic derivative and used in the pharma sector.  

It is expected to get doubled by Q4 of 2020-21, he added. 

The company is already in touch with domestic and foreign pharmaceutical companies in relation to product development, which will start once the capacity enhancement work is completed, he said. 

An alumnus from IIT Bombay, Kanani went on to complete his doctorate from the US. He said that the decision to come back to India was inspired from his father, who had set up a dedicated indigenous plant.               

 Regarded as a leading company in manufacturing Lithium and Bromine-based speciality chemicals, Neogen Chemicals started its business operations in 1991. There are over 200 products in its portfolio.

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The company which has an impressive list of clients such as Voltas, Aurobindo Pharma and Sun Pharmaceuticals, exports its products in almost 27 countries. The company has three manufacturing unit across the country.