Radar · Chemicals and Materials in Maharashtra
Best Chemicals and Materials Companies in Maharashtra, India
The 1025 best Chemicals and Materials companies in Maharashtra, India in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: JSW Cement.
By Riya SenguptaFinancials
1025companies tracked
$947.9Mdisclosed funding
1unicorns
34have raised
FLIAR INTELLIGENCE · CHEMICALS AND MATERIALS × MAHARASHTRA
Our analysis of 84 Chemicals and Materials companies
$9.3b in tracked funding; 55% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2024.
84companies analysed
55%cloud-native stacks
2024funding peak (by rounds)
1unicorns
1993median founding year
1.6Mcombined LinkedIn audience
63%of audience held by top 3
6companies hiring publicly (12 mo)
Ranked: Best Chemicals and Materials companies in Maharashtra
| # | Company | Revenue | Disclosed funding | Last round | Employees | Founder | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | Hindalco Manufacturer of aluminium 74Partners top 11%Market top 16%Product top 24%Fin. health top 26% All 12 signals ▾Partnerstop 11% Markettop 16% Producttop 24% Fin. healthtop 26% Moattop 26% Patentstop 30% Innovationtop 33% Talenttop 38% Newstop 41% Growthbottom 49% Techbottom 42% Globalbottom 35% Partners: 8 contract events in 12 mo · Named contractor/client in 8 deals Market: 49,909 employees (top 1% of Chemicals and Materials) · Revenue ~$28.5B rank vs industry peers · Fliar Intelligence Index 74/100 | $28.5B FY2025 | — | 111 mo ago | 49,909 | Rohit Pathak CEO | 24 patents Patents concentrated in chemistry & materials | 1 expansion · 1 award |
| 2 | DFPCL Leading Indian manufacturer of fertilizers, industrial chemicals, and value-added real estate 78Product top 14%Moat top 19%Innovation top 20%Fin. health top 25% All 10 signals ▾Producttop 14% Moattop 19% Innovationtop 20% Fin. healthtop 25% Markettop 27% Techtop 45% Growthbottom 49% Partnersbottom 48% Newsbottom 42% Globalbottom 37% Product: 6 distinct product lines · Company stage: Public Moat: Top 1% by revenue among 265 tracked Crop Inputs companies · Editorial + unicorn rating 4/10 rank vs industry peers · Fliar Intelligence Index 78/100 | $1.2B FY2025 | — | 55 mo ago | 958 | — | — | — |
| 3 | MTC Group Trader and manufacturer of metals and other products 48Moat top 20%Market top 36%Talent top 38%Fin. health top 45% All 7 signals ▾Moattop 20% Markettop 36% Talenttop 38% Fin. healthtop 45% Growthtop 46% Globalbottom 37% Techbottom 23% Moat: Top 3% by revenue among 372 tracked Metals and Alloys companies · Editorial + unicorn rating 4/10 Market: 228 employees (top 41% of Chemicals and Materials) · Revenue ~$896M rank vs industry peers · Fliar Intelligence Index 48/100 | $896M FY2025 | — | 24 mo ago | 228 | Jonathan Thompson Co-Founder | — | 2 job openings · 2 awards |
| 4 | Aarti Industries Manufacturer of specialty chemicals, pharmaceutical products, and surfactants 74Partners top 19%Product top 19%Market top 25%Moat top 25% All 13 signals ▾Partnerstop 19% Producttop 19% Markettop 25% Moattop 25% Innovationtop 26% Techtop 28% Patentstop 30% Newstop 32% Fin. healthtop 35% Fundingtop 41% Talenttop 41% Growthbottom 41% Globalbottom 37% Partners: 2 partnership announcements in 12 mo (2 in 24 mo) · 7 contract events in 12 mo Product: 3 distinct product lines · Company stage: Public rank vs industry peers · Fliar Intelligence Index 74/100 | $771M FY2024 | $11M | 59 mo ago | 6,655 6,655 → 5,118 (-23%) · sector median +0% | Chandrakant Gogri Founder | 40 patents Synthesis of fluorinated aromatic and nitrile intermediates for pharmaceuticals | 2 awards |
| 5 | JSW Cement 🦄 Manufacturer of cement, cementitious materials, aggregates, additives, and ready-mix concrete 78Innovation top 20%Funding top 20%News top 21%Moat top 24% All 12 signals ▾Innovationtop 20% Fundingtop 20% Newstop 21% Moattop 24% Markettop 27% Fin. healthtop 32% Partnerstop 33% Producttop 34% Talenttop 38% Growthtop 50% Techbottom 46% Globalbottom 39% Innovation: 4 product lines Funding: Raised $193M across 3 rounds · 3 rounds over 5 yrs (0.6/yr) rank vs industry peers · Fliar Intelligence Index 78/100 | $700M FY2025 | $193M | 36 mo ago | 1,388 1,388 → 2,887 (+108%) · sector median +0% | Nilesh Narwekar CEO | — | — |
| 6 | Indofil Manufacturer of agrochemicals and specialty products 53Moat top 28%Fin. health top 32%Market top 35%Talent top 38% All 12 signals ▾Moattop 28% Fin. healthtop 32% Markettop 35% Talenttop 38% Growthtop 47% Patentstop 49% Fundingtop 50% Productbottom 45% Globalbottom 40% Techbottom 39% Innovationbottom 36% Newsbottom 32% Moat: Top 5% by revenue among 44 tracked Agrochemicals companies · Editorial + unicorn rating 1/10 Fin. health: Revenue ~$404M (FY2022) · Net margin 10.7% rank vs industry peers · Fliar Intelligence Index 53/100 | $404M FY2025 | $12M | 209 mo ago | 991 991 → 1,677 (+69%) · sector median +0% | Rajinder Malhotra CEO & President | 30 patents Synergistic agrochemical formulations for crop disease and pest protection | — |
| 7 | Laxmi Manufacturer of diversified chemicals 64Product top 14%Innovation top 20%Market top 34%Funding top 34% All 12 signals ▾Producttop 14% Innovationtop 20% Markettop 34% Fundingtop 34% Moattop 34% Partnerstop 38% Fin. healthtop 43% Newstop 49% Talentbottom 49% Growthbottom 45% Globalbottom 37% Techbottom 27% Product: 6 distinct product lines · Company stage: Public Innovation: 6 product lines rank vs industry peers · Fliar Intelligence Index 64/100 | $356M FY2025 | $10M | 32 mo ago | 954 954 → 1,406 (+47%) · sector median +0% | Rajan Venkatesh CEO and Managing Director | — | — |
| 8 | Fine Organics Producer of specialty additives for foods, plastics, rubbers, paints, inks, cosmetics, coatings, and lubes 50Fin. health top 29%Moat top 30%Market top 35%Tech top 37% All 11 signals ▾Fin. healthtop 29% Moattop 30% Markettop 35% Techtop 37% Talenttop 38% Fundingtop 47% Growthbottom 40% Globalbottom 37% Newsbottom 36% Patentsbottom 31% Innovationbottom 28% Fin. health: Revenue ~$280M (FY2024) · Net margin 18.1% Moat: Top 1% by revenue among 930 tracked Diversified Chemicals companies · Editorial + unicorn rating 1/10 rank vs industry peers · Fliar Intelligence Index 50/100 | $280M FY2025 | $26M | 141 mo ago | 784 | Ramesh Shah Founder | 7 patents Bio-derived plasticizers and ester additives for polypropylene polymer processing | — |
| 9 | Keva Manufacturer of flavours and fragrances 64Product top 14%Innovation top 20%Moat top 30%Funding top 32% All 11 signals ▾Producttop 14% Innovationtop 20% Moattop 30% Fundingtop 32% Markettop 36% Fin. healthtop 39% Talenttop 41% Newsbottom 43% Globalbottom 43% Techbottom 42% Growthbottom 40% Product: 4 distinct product lines · Company stage: Public Innovation: 4 product lines rank vs industry peers · Fliar Intelligence Index 64/100 | $254M FY2025 | $44M | 165 mo ago | 557 557 → 871 (+56%) · sector median +0% | Kedar Vaze CEO | — | — |
| 10 | Privi Manufacturer of aroma and fragrance chemicals 60Moat top 25%Talent top 28%Product top 36%Market top 37% All 11 signals ▾Moattop 25% Talenttop 28% Producttop 36% Markettop 37% Fundingtop 39% Innovationtop 40% Fin. healthtop 44% Growthbottom 47% Techbottom 42% Globalbottom 37% Newsbottom 32% Moat: Top 4% by revenue among 55 tracked Flavors and Fragrances companies · Editorial + unicorn rating 2/10 Talent: 3 named leaders on record · 3 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 60/100 | $251M FY2025 | $19M | 183 mo ago | 695 | Mahesh Babani Co-Founder & Managing Director | — | — |
| 11 | Rossari Biotech Manufacturer of textile and specialty chemicals for diverse industries and animal health nutrition products 62Innovation top 20%Product top 29%Moat top 35%Fin. health top 37% All 11 signals ▾Innovationtop 20% Producttop 29% Moattop 35% Fin. healthtop 37% Markettop 38% Fundingtop 43% Talenttop 45% Techtop 48% Growthbottom 40% Newsbottom 40% Globalbottom 32% Innovation: 5 product lines Product: 0 product launch events in 12 mo · 5 distinct product lines rank vs industry peers · Fliar Intelligence Index 62/100 | $247M FY2025 | — | 168 mo ago | 563 563 → 322 (-43%) · sector median +0% | Yash Chari Director – Marketing and Business Development | — | — |
| 12 | DCW Provider of PVC resin, caustic soda, and liquid chlorine 42Product top 14%Moat top 29%Innovation top 36%Fin. health top 42% All 9 signals ▾Producttop 14% Moattop 29% Innovationtop 36% Fin. healthtop 42% Techbottom 48% Marketbottom 46% Globalbottom 37% Growthbottom 36% Newsbottom 21% Product: 7 distinct product lines · Company stage: Public Moat: Top 2% by revenue among 930 tracked Diversified Chemicals companies · Editorial + unicorn rating 1/10 rank vs industry peers · Fliar Intelligence Index 42/100 | $239M FY2025 | — | 82 mo ago | 4 | — | — | — |
| 13 | Visen Industries Manufacturer of polymer emulsions 55Moat top 29%Fin. health top 35%Funding top 37%Market top 40% All 9 signals ▾Moattop 29% Fin. healthtop 35% Fundingtop 37% Markettop 40% Growthtop 41% Talentbottom 49% Globalbottom 37% Techbottom 34% Newsbottom 27% Moat: Top 2% by revenue among 169 tracked Paints and Coatings companies · Editorial + unicorn rating 1/10 Fin. health: Revenue ~$235M (FY2021) · Net margin 1.6% rank vs industry peers · Fliar Intelligence Index 55/100 | $235M FY2025 | $25M | 179 mo ago | 284 284 → 310 (+9%) · sector median +0% | Vijay Nair Founder & Managing Director | — | 1 award |
| 14 | Beekaylon Manufacturer of dope dyed polyester filament yarns for textile applications 55Moat top 30%Market top 38%Talent top 38%Tech top 40% All 7 signals ▾Moattop 30% Markettop 38% Talenttop 38% Techtop 40% Fin. healthtop 44% Growthbottom 45% Globalbottom 32% Moat: Top 3% by revenue among 414 tracked Textile Yarn companies · Editorial + unicorn rating 1/10 Market: 847 employees (top 25% of Chemicals and Materials) · Revenue ~$221M rank vs industry peers · Fliar Intelligence Index 55/100 | $221M FY2025 | — | 55 mo ago | 847 | Nand Khemani Co-Founder & Chairman | — | 1 partnership |
| 15 | Gimatex Manufacturer of woven textile fabrics 45Moat top 30%Market top 32%Product top 38%Fin. health top 45% All 9 signals ▾Moattop 30% Markettop 32% Producttop 38% Fin. healthtop 45% Talenttop 45% Growthbottom 44% Fundingbottom 29% Techbottom 29% Globalbottom 25% Moat: Top 3% by revenue among 414 tracked Textile Yarn companies · Editorial + unicorn rating 1/10 Market: 3,316 employees (top 10% of Chemicals and Materials) · Revenue ~$214M rank vs industry peers · Fliar Intelligence Index 45/100 | $214M FY2025 | $3M | 155 mo ago | 3,316 | Goutam Dhang CEO | — | — |
| 16 | Camlin Fine Sciences Manufacturer of chemicals catering to food industry 48Moat top 20%Product top 35%Talent top 38%Market top 39% All 11 signals ▾Moattop 20% Producttop 35% Talenttop 38% Markettop 39% Techtop 41% Growthtop 46% Newstop 47% Fin. healthbottom 49% Patentsbottom 47% Globalbottom 42% Innovationbottom 31% Moat: Top 3% by revenue among 930 tracked Diversified Chemicals companies · Editorial + unicorn rating 4/10 Product: 0 product launch events in 12 mo · Company stage: Public rank vs industry peers · Fliar Intelligence Index 48/100 | $199M FY2025 | — | 51 mo ago | 654 654 → 657 (+0%) · sector median +0% | Nirmal Momaya Managing Director | 24 patents Specialty chemical synthesis of monoalkyl ether diphenols and chitin-derived preservatives | — |
| 17 | Calibre Chemicals Manufacturer of iodine, selenium, cobalt and peroxygens 67Talent top 28%Innovation top 30%Moat top 30%Product top 32% All 11 signals ▾Talenttop 28% Innovationtop 30% Moattop 30% Producttop 32% Techtop 38% Fin. healthtop 38% Markettop 44% Growthtop 47% Fundingbottom 46% Globalbottom 46% Newsbottom 40% Talent: 3 named leaders on record · 3 C-suite/founder profiles curated Innovation: 3 product lines rank vs industry peers · Fliar Intelligence Index 67/100 | $165M FY2025 | $6M | 52 mo ago | 188 188 → 130 (-31%) · sector median +0% | Trivik Bhavnani Co-Founder | — | — |
| 18 | Indigo Paints Manufacturer of paints 72Innovation top 20%Moat top 20%Product top 24%Market top 32% All 11 signals ▾Innovationtop 20% Moattop 20% Producttop 24% Markettop 32% Fin. healthtop 36% Fundingtop 37% Talenttop 45% Techtop 46% Growthbottom 49% Newsbottom 49% Globalbottom 32% Innovation: 12 product lines Moat: Top 3% by revenue among 169 tracked Paints and Coatings companies · Editorial + unicorn rating 4/10 rank vs industry peers · Fliar Intelligence Index 72/100 | $161M FY2025 | $23M | 123 mo ago | 1,152 1,152 → 993 (-14%) · sector median +0% | Kamalaprasad Jalan Director | — | — |
| 19 | SBL Energy Manufacturer of industrial and mining explosives, detonators, and explosive accessories 62Growth top 27%Fin. health top 28%Moat top 31%Funding top 40% All 9 signals ▾Growthtop 27% Fin. healthtop 28% Moattop 31% Fundingtop 40% Techtop 42% Marketbottom 47% Talentbottom 45% Globalbottom 37% Newsbottom 21% Growth: Headcount 112 → 164 (+46%) across vintages · Revenue +98% YoY Fin. health: Revenue ~$130M (FY2018) · Net margin 7.8% rank vs industry peers · Fliar Intelligence Index 62/100 | $130M FY2025 | $41M | 27 mo ago | 164 164 → 91 (-45%) · sector median +0% | Sanjay Choudhary Owner | — | — |
| 20 | Viswaat Chemicals Manufacturer of specialty chemicals, sanitizers, and surfactants 57Product top 18%Innovation top 20%Moat top 31%Growth top 38% All 9 signals ▾Producttop 18% Innovationtop 20% Moattop 31% Growthtop 38% Fin. healthtop 42% Marketbottom 49% Globalbottom 37% Techbottom 31% Fundingbottom 24% Product: 6 distinct product lines Innovation: 6 product lines rank vs industry peers · Fliar Intelligence Index 57/100 | $116M FY2025 | $927K | 146 mo ago | 190 190 → 196 (+3%) · sector median +0% | — | — | — |
| 21 | POSHS metal industries Processor of hot rolled and cold rolled steel coils and sheets 40Funding top 35%Market top 45%Fin. health top 50%Talent bottom 45% All 7 signals ▾Fundingtop 35% Markettop 45% Fin. healthtop 50% Talentbottom 45% Growthbottom 43% Globalbottom 33% Techbottom 18% Funding: Raised $5.0M across 1 rounds · 1 rounds over 1 yrs (1.0/yr) Market: Revenue ~$107M · Top 16% by revenue among 372 tracked Metals and Alloys peers rank vs industry peers · Fliar Intelligence Index 40/100 | $107M FY2025 | $5M | 13 mo ago | — | Vikram Puri CEO | — | — |
| 22 | APPL Industries Manufacturer of polymer compounds for the automotive, appliances, and electrical industries 35Moat top 30%Fin. health top 43%Market top 48%Growth top 49% All 8 signals ▾Moattop 30% Fin. healthtop 43% Markettop 48% Growthtop 49% Talentbottom 49% Globalbottom 37% Fundingbottom 31% Techbottom 31% Moat: Top 4% by revenue among 395 tracked Polymers companies · Editorial + unicorn rating 1/10 Fin. health: Revenue ~$101M (FY2022) · Net margin 2.9% rank vs industry peers · Fliar Intelligence Index 35/100 | $101M FY2025 | $2M | 146 mo ago | 288 288 → 606 (+110%) · sector median +0% | Inder Jain Founder & Managing Director | — | 2 launchs |
| 23 | Fineotex Chemical Manufacturer of chemicals for textiles, construction, water-treatment, fertilizer, leather, and paint industry 60Product top 14%Innovation top 20%Moat top 33%Talent top 38% All 10 signals ▾Producttop 14% Innovationtop 20% Moattop 33% Talenttop 38% Fin. healthtop 44% Newstop 45% Markettop 49% Growthtop 49% Techbottom 46% Globalbottom 30% Product: 7 distinct product lines · Company stage: Public Innovation: 7 product lines rank vs industry peers · Fliar Intelligence Index 60/100 | $66M FY2025 | — | 22 mo ago | 97 97 → 138 (+42%) · sector median +0% | Surendra Tibrewala Founder & Managing Director & Director | — | 1 expansion |
| 24 | Witmans Manufacturer specializing in production of performance lubricants, plasticizers, and specialty coatings for… 19Tech bottom 49%Talent bottom 45%Growth bottom 44%Fin. health bottom 38% All 7 signals ▾Techbottom 49% Talentbottom 45% Growthbottom 44% Fin. healthbottom 38% Marketbottom 35% Globalbottom 25% Fundingbottom 16% Tech: 27 technologies across 2/8 capability areas · Security: Recaptcha, Sectigo Talent: 1 named leader on record rank vs industry peers · Fliar Intelligence Index 19/100 | $64M FY2025 | $192K | 170 mo ago | 176 | Ravi Sekhar CEO | — | — |
| 25 | Sarla Performance Fibers Manufacturer and supplier of polyester and nylon products 48Market top 44%Fin. health top 45%Tech top 48%Talent bottom 49% All 8 signals ▾Markettop 44% Fin. healthtop 45% Techtop 48% Talentbottom 49% Fundingbottom 44% Growthbottom 40% Globalbottom 34% Newsbottom 15% Market: 335 employees (top 37% of Chemicals and Materials) · Revenue ~$53.5M Fin. health: Revenue ~$53.5M (FY2020) · Net margin 11.8% rank vs industry peers · Fliar Intelligence Index 48/100 | $54M FY2025 | — | 139 mo ago | 335 | Krishna Jhunjhunwala Managing Director | — | — |
| 26 | The Anthea Group Manufacturer of specialty chemical products 76Fin. health top 26%Product top 28%Innovation top 30%Talent top 33% All 10 signals ▾Fin. healthtop 26% Producttop 28% Innovationtop 30% Talenttop 33% Growthtop 34% Fundingtop 36% Moattop 38% Techtop 50% Marketbottom 49% Globalbottom 37% Fin. health: Revenue ~$50.0M (FY2018) · Net margin 22.7% Product: 3 distinct product lines rank vs industry peers · Fliar Intelligence Index 76/100 | $50M FY2025 | $29M | 84 mo ago | 88 88 → 65 (-26%) · sector median +0% | Mathew Menacherry Co-Founder & Director | — | — |
| 27 | Shubhalakshmi Polyesters Manufacturer of polyester chips and yarns 57Talent top 28%Moat top 31%Growth top 35%Funding top 36% All 10 signals ▾Talenttop 28% Moattop 31% Growthtop 35% Fundingtop 36% Producttop 42% Fin. healthtop 43% Techtop 47% Marketbottom 42% Globalbottom 37% Newsbottom 22% Talent: 3 named leaders on record · 3 C-suite/founder profiles curated Moat: Top 13% by revenue among 414 tracked Textile Yarn companies · Editorial + unicorn rating 2/10 rank vs industry peers · Fliar Intelligence Index 57/100 | $46M FY2025 | $40M | 60 mo ago | 18 | Ramu raman Agarwal Founder | — | — |
| 28 | Bogmallo Manufacturer of premium cotton and cotton blend shirting fabrics 45Moat top 36%Talent top 45%Market bottom 49%Funding bottom 48% All 6 signals ▾Moattop 36% Talenttop 45% Marketbottom 49% Fundingbottom 48% Fin. healthbottom 48% Globalbottom 29% Moat: Top 13% by revenue among 414 tracked Textile Yarn companies · Editorial + unicorn rating 1/10 Talent: 2 named leaders on record rank vs industry peers · Fliar Intelligence Index 45/100 | $46M FY2024 | $2M | 39 mo ago | — | Abhijit Dattatray Founder | — | — |
| 29 | Harmony Organics Lifetime Health is a fully digital hospital-at-home platform for seniors and chronic-care patients… 45Talent top 28%Product top 30%Funding top 35%Moat top 36% All 12 signals ▾Talenttop 28% Producttop 30% Fundingtop 35% Moattop 36% Growthtop 41% Fin. healthtop 46% Techbottom 48% Marketbottom 44% Globalbottom 38% Patentsbottom 32% Innovationbottom 28% Newsbottom 18% Talent: Analyst team rating 4/5 Product: 6 distinct product lines · Company stage: Series B rank vs industry peers · Fliar Intelligence Index 45/100 | $37M FY2025 | $27M | 34 mo ago | 115 115 → 85 (-26%) · sector median +0% | — | 2 patents Continuous ion‑exchange resin catalysis for methyl pentenone production in fixed‑bed reactors | 2 job openings · 1 partnership |
| 30 | Mandhana Industries Manufacturer of yarns & fabrics 48Fin. health top 41%Funding top 42%Market top 44%Growth top 44% All 7 signals ▾Fin. healthtop 41% Fundingtop 42% Markettop 44% Growthtop 44% Talentbottom 49% Globalbottom 36% Techbottom 15% Fin. health: Revenue ~$34.5M (FY2023) · Net margin 56.6% Funding: Raised $11.9M across 3 rounds · 3 rounds over 18 yrs (0.2/yr) rank vs industry peers · Fliar Intelligence Index 48/100 | $34M FY2025 | $12M | 114 mo ago | — | Purshottam C Mandhana Founder & Chairman | — | — |
| 31 | United Rubber Industries Manufacturer and supplier of rubber products 37Product top 18%Innovation top 20%Talent top 35%Moat top 38% All 9 signals ▾Producttop 18% Innovationtop 20% Talenttop 35% Moattop 38% Marketbottom 49% Fin. healthbottom 33% Globalbottom 25% Fundingbottom 20% Techbottom 16% Product: 8 distinct product lines Innovation: 8 product lines rank vs industry peers · Fliar Intelligence Index 37/100 | $31M FY2023 | $168K | 230 mo ago | 750 | Ajit Rai Founder & Managing Director | — | — |
| 32 | Automark Industries Manufacturer of reflective pavement marker, road marking paint, and air preheater 22Moat top 39%Talent bottom 45%Growth bottom 42%Fin. health bottom 42% All 7 signals ▾Moattop 39% Talentbottom 45% Growthbottom 42% Fin. healthbottom 42% Marketbottom 40% Fundingbottom 28% Globalbottom 25% Moat: Top 18% by revenue among 39 tracked Road Infrastructure Operators companies · Editorial + unicorn rating 1/10 Talent: 1 named leader on record rank vs industry peers · Fliar Intelligence Index 22/100 | $28M FY2025 | $2M | 188 mo ago | 91 | Roseline CEO | — | — |
| 33 | Elkay Chemicals Manufactures silicone products and emulsions. 50Innovation top 20%Moat top 37%Tech top 40%Product top 43% All 10 signals ▾Innovationtop 20% Moattop 37% Techtop 40% Producttop 43% Talenttop 45% Growthbottom 48% Fin. healthbottom 48% Marketbottom 39% Globalbottom 25% Fundingbottom 21% Innovation: 10 product lines Moat: Top 16% by revenue among 930 tracked Diversified Chemicals companies · Editorial + unicorn rating 1/10 rank vs industry peers · Fliar Intelligence Index 50/100 | $28M FY2025 | $165K | 161 mo ago | 136 136 → 127 (-7%) · sector median +0% | Ravi Kulkarni Founder & Managing Director | — | 2 launchs · 1 partnership · 1 expansion |
| 34 | AbhiTech Provider of oil refinery, fuel exploring, and other services 29Growth top 38%Fin. health top 42%Tech top 48%Talent bottom 45% All 7 signals ▾Growthtop 38% Fin. healthtop 42% Techtop 48% Talentbottom 45% Globalbottom 29% Fundingbottom 22% Marketbottom 21% Growth: Headcount 29 → 30 (+3%) across vintages · Revenue +42% YoY Fin. health: Revenue ~$20.9M (FY2020) · Net margin 11.5% rank vs industry peers · Fliar Intelligence Index 29/100 | $21M FY2024 | $527K | 206 mo ago | 30 | Vivek Pandit Owner | — | 2 launchs · 1 award |
| 35 | Carboline India Provider of coatings, linings, and fireproofing products 32Moat top 38%Growth top 47%Market bottom 47%Fin. health bottom 40% All 6 signals ▾Moattop 38% Growthtop 47% Marketbottom 47% Fin. healthbottom 40% Techbottom 32% Globalbottom 30% Moat: Top 16% by revenue among 169 tracked Paints and Coatings companies · Editorial + unicorn rating 1/10 Growth: Headcount 403 → 543 (+35%) across vintages · Revenue -12% YoY rank vs industry peers · Fliar Intelligence Index 32/100 | $21M FY2025 | — | 99 mo ago | 543 | — | — | — |
| 36 | Vipul Organics Manufacturer of reactive dyes, fast colour bases, salts and dyes intermideates 48Product top 14%Innovation top 20%News top 37%Moat top 40% All 10 signals ▾Producttop 14% Innovationtop 20% Newstop 37% Moattop 40% Growthtop 44% Talentbottom 49% Fin. healthbottom 43% Marketbottom 41% Techbottom 38% Globalbottom 30% Product: 7 distinct product lines · Company stage: Public Innovation: 7 product lines rank vs industry peers · Fliar Intelligence Index 48/100 | $19M FY2025 | — | 8 mo ago | 85 85 → 145 (+71%) · sector median +0% | Vipul Shah CEO | — | 2 job openings |
| 37 | Axiom Cordages Manufacturer of synthetic fiber ropes and cordages 42Product top 18%Innovation top 20%Funding top 43%Talent bottom 49% All 9 signals ▾Producttop 18% Innovationtop 20% Fundingtop 43% Talentbottom 49% Growthbottom 45% Globalbottom 45% Fin. healthbottom 43% Marketbottom 38% Techbottom 32% Product: 4 distinct product lines Innovation: 4 product lines rank vs industry peers · Fliar Intelligence Index 42/100 | $18M FY2023 | $15M | 154 mo ago | — | Mehul Vala CEO | — | — |
| 38 | Everlon Synthetics Manufacturer of polyester texturised yarn 21Funding top 37%Growth bottom 45%Fin. health bottom 41%Global bottom 25% All 5 signals ▾Fundingtop 37% Growthbottom 45% Fin. healthbottom 41% Globalbottom 25% Marketbottom 23% Funding: Raised $37.5M across 1 rounds · Stage: Public Growth: Revenue +4% YoY rank vs industry peers · Fliar Intelligence Index 21/100 | $5M FY2022 | $38M | — | 4 | — | — | — |
| 39 | Inventys Custom based manufacturer of actives, crop protection, advanced intermediates, and specialty chemicals 42Innovation top 20%Product top 36%Talent top 38%Tech top 39% All 11 signals ▾Innovationtop 20% Producttop 36% Talenttop 38% Techtop 39% Moattop 42% Fundingtop 48% Marketbottom 42% Growthbottom 42% Globalbottom 32% Newsbottom 27% Fin. healthbottom 18% Innovation: 10 product lines Product: 10 distinct product lines · Company stage: Series A rank vs industry peers · Fliar Intelligence Index 42/100 | $4M FY2025 | $64M | 50 mo ago | 197 | Raghavan Srinivasan Co-Founder & Director | — | — |
| 40 | Distil Manufacturer of specialty chemicals 53Growth top 12%Talent top 38%Funding top 39%Fin. health bottom 49% All 8 signals ▾Growthtop 12% Talenttop 38% Fundingtop 39% Fin. healthbottom 49% Globalbottom 39% Techbottom 36% Moatbottom 35% Marketbottom 33% Growth: Revenue +101795% YoY · Fresh capital in last 24 mo Talent: 2 named leaders on record · 2 C-suite/founder profiles curated rank vs industry peers · Fliar Intelligence Index 53/100 | $2M FY2025 | $3M | 8 mo ago | — | Atanuu Agarrwal Co-Founder & CEO | — | 1 job opening |
| 41 | Chemicone Manufacturer of textile auxiliaries and specialty chemicals 6Talent bottom 45%Fin. health bottom 30%Moat bottom 30%Global bottom 29% All 6 signals ▾Talentbottom 45% Fin. healthbottom 30% Moatbottom 30% Globalbottom 29% Fundingbottom 21% Marketbottom 19% Talent: 1 named leader on record Fin. health: Revenue ~$2.2M (FY2021) · Net margin 3.6% rank vs industry peers · Fliar Intelligence Index 6/100 | $2M FY2021 | $117K | 219 mo ago | — | Prabodh Shantilal Mehta Founder | — | — |
| 42 | EnviPro Engineering Manufacturer of air pollution control equipment and systems 37Innovation top 20%Moat top 40%Growth top 42%Product top 43% All 10 signals ▾Innovationtop 20% Moattop 40% Growthtop 42% Producttop 43% Talenttop 45% Fin. healthbottom 40% Techbottom 31% Globalbottom 30% Marketbottom 26% Fundingbottom 22% Innovation: 8 product lines Moat: Top 36% by revenue among 75 tracked Air Management Services companies · Editorial + unicorn rating 4/10 rank vs industry peers · Fliar Intelligence Index 37/100 | $2M FY2025 | $71K | 90 mo ago | — | Nikhil Kulkarni CEO | — | — |
| 43 | Anacon Laboratories Provider of multi-materials testing laboratory and consultancy services 27Product top 18%Innovation top 20%Moat top 45%Tech top 48% All 10 signals ▾Producttop 18% Innovationtop 20% Moattop 45% Techtop 48% Talentbottom 45% Growthbottom 38% Fin. healthbottom 32% Globalbottom 25% Marketbottom 22% Fundingbottom 21% Product: 7 distinct product lines Innovation: 7 product lines rank vs industry peers · Fliar Intelligence Index 27/100 | $1M FY2025 | $305K | 199 mo ago | 7 | Sugandha Garway Founder and Director | — | — |
| 44 | Dr. Nanoxa Manufacturer of antimicrobial coating which provides bio-security from bacteria, viruses and germs 24Growth top 27%Fin. health top 47%Talent bottom 49%Funding bottom 33% All 7 signals ▾Growthtop 27% Fin. healthtop 47% Talentbottom 49% Fundingbottom 33% Globalbottom 30% Moatbottom 14% Marketbottom 7% Growth: Revenue +1056% YoY Fin. health: Revenue ~$16.3k (FY2023) · Net margin 12.2% rank vs industry peers · Fliar Intelligence Index 24/100 | $16K FY2025 | — | 67 mo ago | — | Yash Jain Founder | — | — |
| 45 | JBF Industries Manufacturer of polyester yarn 6Funding top 39%Talent bottom 49%Global bottom 37%Market bottom 27% All 8 signals ▾Fundingtop 39% Talentbottom 49% Globalbottom 37% Marketbottom 27% Newsbottom 27% Moatbottom 13% Fin. healthbottom 10% Growthbottom 8% Funding: Raised $150M across 1 rounds · 1 rounds over 11 yrs (0.1/yr) Talent: 1 named leader on record · 1 C-suite/founder profile curated rank vs industry peers · Fliar Intelligence Index 6/100 | $9K FY2025 | $150M | 130 mo ago | 347 | Bhagirath Arya Founder | — | — |
| 46 | Excel Crop Care Online slot gaming platform with diverse casino games and jackpot opportunities 27Product top 14%Moat top 26%Funding top 39%Market top 40% All 12 signals ▾Producttop 14% Moattop 26% Fundingtop 39% Markettop 40% Fin. healthtop 47% Talentbottom 49% Globalbottom 45% Patentsbottom 42% Innovationbottom 40% Techbottom 35% Newsbottom 32% Growthbottom 10% Product: 9 distinct product lines · Company stage: Post IPO Moat: Top 9% by revenue among 44 tracked Agrochemicals companies · Editorial + unicorn rating 2/10 rank vs industry peers · Fliar Intelligence Index 27/100 | — | $93M | 120 mo ago | 204 | Chetan Shah Managing Director | 21 patents Granular agrochemical formulations for herbicides and fungicides (water‑dispersible). | — |
| 47 | Anthea Manufacturer of specialty chemicals for flavour, fragrance, pharmaceutical, and agro industries 27Funding top 42%Fin. health bottom 44%Growth bottom 42%Global bottom 36% All 7 signals ▾Fundingtop 42% Fin. healthbottom 44% Growthbottom 42% Globalbottom 36% Marketbottom 31% Moatbottom 30% Newsbottom 18% Funding: Raised $28.8M · 4 rounds over 19 yrs (0.2/yr) Fin. health: Revenue ~$3.8M (FY2022) · Net margin 22.7% rank vs industry peers · Fliar Intelligence Index 27/100 | — | $29M | 84 mo ago | 88 | — | — | — |
| 48 | Eternis Manufacturer of aroma chemicals and esters 27Innovation top 20%Product top 30%Talent bottom 49%Growth bottom 45% All 11 signals ▾Innovationtop 20% Producttop 30% Talentbottom 49% Growthbottom 45% Fundingbottom 44% Globalbottom 37% Marketbottom 34% Techbottom 34% Newsbottom 21% Moatbottom 17% Fin. healthbottom 11% Innovation: 12 product lines Product: 12 distinct product lines · Company stage: Series B rank vs industry peers · Fliar Intelligence Index 27/100 | — | $12M | 64 mo ago | 513 513 → 500 (-3%) · sector median +0% | Rajen Mariwala Managing Director | — | 2 job openings |
| 49 | Columbia Petro Chem Manufacturer of petrochemicals and paraffin oils 35Moat top 25%Fin. health top 38%Talent top 38%Market top 43% All 8 signals ▾Moattop 25% Fin. healthtop 38% Talenttop 38% Markettop 43% Fundingbottom 46% Growthbottom 35% Globalbottom 30% Techbottom 17% Moat: Top 3% by revenue among 71 tracked Petrochemicals companies · Editorial + unicorn rating 3/10 Fin. health: Revenue ~$160M (FY2021) · Net margin 1.4% rank vs industry peers · Fliar Intelligence Index 35/100 | — | $7M | 144 mo ago | — | Madan Halwasiya Founder | — | — |
| 50 | RMG Alloy Steel Manufacturer of alloy steel, stainless steel, seamless tubes, and pipes 24Talent bottom 49%Tech bottom 46%Funding bottom 31%Global bottom 25% All 5 signals ▾Talentbottom 49% Techbottom 46% Fundingbottom 31% Globalbottom 25% Newsbottom 22% Talent: 1 named leader on record · 1 C-suite/founder profile curated Tech: 19 technologies across 3/8 capability areas · Cloud: Cloudflare rank vs industry peers · Fliar Intelligence Index 24/100 | — | $2M | 192 mo ago | — | Balkrishan Goenka CEO & Chairman | — | — |
Top 12 Chemicals and Materials companies in Maharashtra
#1
Series A · Mumbai, Maharashtra · founded 2023$3.1Mraised▾
Series A · Mumbai, Maharashtra · founded 2023
Manufacturer of specialty chemicals. It provides a broad spectrum of specialty chemical solutions encompassing research, formulation, manufacturing, customization, and distribution. Its platform is designed to help customers, mainly manufacturers across verticals, like aroma and food, beauty and personal care, pharmaceuticals, coatings, masterbatches, and compounds.
Fliar Intelligence Index™ 53how this company ranks against its industry peers
Growth
top 12%Talent
top 38%Funding
top 39%Fin. health
bottom 49%Global
bottom 39%Tech
bottom 36%Growth: Revenue +101795% YoY · Fresh capital in last 24 mo
Talent: 2 named leaders on record · 2 C-suite/founder profiles curated
Funding: Raised $3.1M across 2 rounds · 2 rounds over 2 yrs (1.0/yr) · Last round Series A (Sep 2025)
Audience (LinkedIn): 3k LinkedIn followers
Hiring (LinkedIn): 1 hiring post in 12 mo (public) · hiring: Inside Sales Specialist
Funding rounds
- Sep 2025Series A$7.7M
- Mar 2024Seed$3.1M
Founders & team
Investors
Jungle Ventures, India Quotient, RB Investments, Singularity AMC, Panthera Peak Capital, Icebreaker Tech
#2
Early Stage · Pune, Maharashtra · founded 1998$5Mraised▾
Early Stage · Pune, Maharashtra · founded 1998
Processor of hot rolled and cold rolled steel coils and sheets. The company offers coil slitting, coil cutting, die blanking, and trapezoidal cutting. These processes transform steel coils into narrower coils or sheets of specific sizes and shapes. The company provides processed steel for various customer applications.
Fliar Intelligence Index™ 40how this company ranks against its industry peers
Funding
top 35%Market
top 45%Fin. health
top 50%Talent
bottom 45%Growth
bottom 43%Global
bottom 33%Funding: Raised $5.0M across 1 rounds · 1 rounds over 1 yrs (1.0/yr) · Last round Unattributed (Apr 2025)
Market: Revenue ~$107M · Top 16% by revenue among 372 tracked Metals and Alloys peers · Top-10,000,000 web property
Fin. health: Revenue ~$107M (FY2024) · Net margin 1.6% · Revenue -8% YoY
Funding rounds
- Apr 2025Unattributed$5M
Founders & team
Investors
Aavishkaar Capital
Tech stack
Font AwesomeGoogle Font ApiGoogle WorkspaceIisJqueryMediaelement.Js
#3
Public · Mumbai, Maharashtra · founded 2009 · 1388 employees$193.3Mraised▾
Public · Mumbai, Maharashtra · founded 2009 · 1388 employees
Manufacturer of cement, cementitious materials, aggregates, additives, and ready-mix concrete. The company provides building solutions for various construction needs. Its offerings include different types of cement, such as Portland slag cement and ordinary Portland cement, along with construction chemicals like tile adhesive and waterproofing solutions. It also supplies ground granulated blast furnace slag and screened slag aggregates.
Fliar Intelligence Index™ 78how this company ranks against its industry peers
Innovation
top 20%Funding
top 20%News
top 21%Moat
top 24%Market
top 27%Fin. health
top 32%Innovation: 4 product lines
Funding: Raised $193M across 3 rounds · 3 rounds over 5 yrs (0.6/yr) · Last round Conventional Debt (Jun 2023)
News: 66 BI events in 12 mo (of 174 tracked, 11 types) · +371% YoY · 37 high-value events (IPO/M&A/funding/contracts) in 12 mo
Audience (LinkedIn): 112k LinkedIn followers — 7.1% of this cohort's audience
Funding rounds
- Jun 2023Conventional Debt$50M
- Oct 2022Conventional Debt$50.1M
- Jul 2021Series D$193.3M
Founders & team
Investors
Synergy Capital, Apollo Global Management, AP Asia Opportunistic Holdings, SBI, BNP Paribas, MUFG
Tech stack
Apache Http ServerBootstrapCdnjsCloudflareCore-JsFacebook Pixel
#4
Series B · Nagpur, Maharashtra · founded 2002 · 164 employees$41.2Mraised▾
Series B · Nagpur, Maharashtra · founded 2002 · 164 employees
Manufacturer of industrial and mining explosives, detonators, and explosive accessories. The company provides a range of explosives including slurry, emulsion, and bulk emulsion explosives. It also offers detonating fuse, ordinary detonators, electric detonators, non-electric detonators, and cast boosters. The company serves public sector units, government organizations, and mining contractors. It provides technical services and consultations to clients.
Fliar Intelligence Index™ 62how this company ranks against its industry peers
Growth
top 27%Fin. health
top 28%Moat
top 31%Funding
top 40%Tech
top 42%Market
bottom 47%Growth: Headcount 112 → 164 (+46%) across vintages · Revenue +98% YoY
Fin. health: Revenue ~$130M (FY2018) · Net margin 7.8% · Revenue +98% YoY
Moat: Top 5% by revenue among 37 tracked Mining Equipment companies · Editorial + unicorn rating 1/10
Audience (LinkedIn): 2k LinkedIn followers
Activity (LinkedIn): 2 product launches announced in 12 mo
Funding rounds
- Feb 2024Series B$39.2M
- Dec 2017Series A$1.3M
- Mar 2014Seed$668.7K
Founders & team
Investors
Synergy Capital, India SME Investments, Mahanadi Metals and Chemicals, Special Blasts, Neweraltd, Nirvaan Dealcom
Tech stack
BootstrapGoogle AnalyticsGoogle CloudGoogle Cloud CdnGoogle Tag ManagerGsap
#5
Series B · Pune, Maharashtra · founded 1976 · 115 employees$27.2Mraised▾
Series B · Pune, Maharashtra · founded 1976 · 115 employees
Lifetime Health is a fully digital hospital-at-home platform for seniors and chronic-care patients, delivering diagnostics, treatment, and recovery at home with a 15-minute response SLA. We are building a “hospital-less operating system” that replaces hospital visits through a single app: instant scheduling, live tracking, and AI quality assurance. Current services include nursing, physiotherapy, lab tests, IV drips, vaccination and caregiver support, with a roadmap to ICU-level care, dialysis, and advanced stroke rehabilitation at home.
Fliar Intelligence Index™ 45how this company ranks against its industry peers
Talent
top 28%Product
top 30%Funding
top 35%Moat
top 36%Growth
top 41%Fin. health
top 46%Talent: Analyst team rating 4/5
Product: 6 distinct product lines · Company stage: Series B
Funding: Raised $27.2M · 1 rounds over 3 yrs (0.3/yr) · Last round Series B (Aug 2023)
Audience (LinkedIn): 3k LinkedIn followers
Hiring (LinkedIn): 3 hiring posts in 12 mo (public) · momentum +1 · hiring: Deputy Manager / Manager – Global Sales, Senior Manager
Activity (LinkedIn): 2 partnerships (incl. Kurkumbh manufacturing facility (Maharashtra)) announced in 12 mo
Investors
Piramal Group
Tech stack
BootstrapContact Form 7FlickityGoogle AnalyticsGoogle Font ApiGsap
#6
Series A · Mumbai, Maharashtra · founded 2005 · 197 employees$64.3Mraised▾
Series A · Mumbai, Maharashtra · founded 2005 · 197 employees
Custom based manufacturer of actives, crop protection, advanced intermediates, and specialty chemicals. The company provides custom synthesis, contract development, and manufacturing services, delivering high-quality solutions tailored to client needs. It provides primarily advanced intermediates and registered starting materials for pharma, fine chemicals, and the electronics industry.
Fliar Intelligence Index™ 42how this company ranks against its industry peers
Innovation
top 20%Product
top 36%Talent
top 38%Tech
top 39%Moat
top 42%Funding
top 48%Innovation: 10 product lines
Product: 10 distinct product lines · Company stage: Series A
Talent: 2 named leaders on record · 2 C-suite/founder profiles curated
Funding rounds
- Apr 2022Series A$29.5M
- Dec 2008Seed$247.7K
- Dec 2007Seed$482.7K
Founders & team
Investors
Pantomath Group, Plutus Wealth Management, Multi Organics, Birewar Family Trust
Tech stack
WordpressMysqlPhpBootstrapRedux FrameworkPopup Maker
#7
Public · Mumbai, Maharashtra · founded 1992 · 954 employees$9.9Mraised▾
Public · Mumbai, Maharashtra · founded 1992 · 954 employees
Manufacturer of diversified chemicals
Fliar Intelligence Index™ 64how this company ranks against its industry peers
Product
top 14%Innovation
top 20%Market
top 34%Funding
top 34%Moat
top 34%Partners
top 38%Product: 6 distinct product lines · Company stage: Public
Innovation: 6 product lines
Market: 954 employees (top 23% of Chemicals and Materials) · Revenue ~$356M · ~1% of tracked Diversified Chemicals revenue (930 cos, FY2025)
Audience (LinkedIn): 37k LinkedIn followers — 2.4% of this cohort's audience
Hiring (LinkedIn): 4 hiring posts in 12 mo (public) · hiring: Manager – Planning, Scheduling & Costing, Women in Chemical Manufacturing
Activity (LinkedIn): 1 partnerships (incl. Hempachi Energy) announced in 12 mo
Funding rounds
- Oct 2023Post IPO$31.1M
- Mar 2012Unattributed$9.1M
- Oct 2009Angel$798.2K
Founders & team
Investors
IFC, ICICI Prudential Asset Management Company, Societe Generale, 360 One, Ashoka India Equity Investment, Authum
Tech stack
AzureBootstrapGoogle AnalyticsJqueryMicrosoft Asp.NetSlider Revolution
#8
Late Stage · Mumbai, Maharashtra · founded 1982 · 347 employees$150Mraised▾
Late Stage · Mumbai, Maharashtra · founded 1982 · 347 employees
Manufacturer of polyester yarn. The company manufactures partially oriented yarn, polyester film, and different types of polyester chips such as bottle grade, film grade, and textile grade polyester chips.
Fliar Intelligence Index™ 6how this company ranks against its industry peers
Funding
top 39%Talent
bottom 49%Global
bottom 37%Market
bottom 27%News
bottom 27%Moat
bottom 13%Funding: Raised $150M across 1 rounds · 1 rounds over 11 yrs (0.1/yr) · Last round PE (Aug 2015)
Talent: 1 named leader on record · 1 C-suite/founder profile curated
Global: Investors from 1 country beyond India
Funding rounds
- Aug 2015PE$150M
Founders & team
Investors
KKR, IIML
#9
Acquired · Mumbai, Maharashtra · founded 2005 · 18 employees$39.7Mraised▾
Acquired · Mumbai, Maharashtra · founded 2005 · 18 employees
Manufacturer of polyester chips and yarns. Its offerings include twisting, fancy, air tex, poy, texturing, fully drawn, and specialty products.
Fliar Intelligence Index™ 57how this company ranks against its industry peers
Talent
top 28%Moat
top 31%Growth
top 35%Funding
top 36%Product
top 42%Fin. health
top 43%Talent: 3 named leaders on record · 3 C-suite/founder profiles curated
Moat: Top 13% by revenue among 414 tracked Textile Yarn companies · Editorial + unicorn rating 2/10
Growth: Revenue +328% YoY
Founders & team
Investors
Samridhi Global Industries, Shubhalakshmi Petroyarns, Shubhlaxmi Dyetex, Bank of Baroda, SBI, IDBI Bank
Tech stack
GodaddyGodaddy Domain ParkingHstsNext.JsNext.Js App RouterNginx
#10
Late Stage · Mumbai, Maharashtra · founded 2003 · 204 employees$93.1Mraised▾
Late Stage · Mumbai, Maharashtra · founded 2003 · 204 employees
Online slot gaming platform with diverse casino games and jackpot opportunities. This platform provides a wide array of online slot games, live casino experiences, toto options, sports betting, crash games, arcade selections, poker, e-sports, and even cockfighting. It emphasizes user accessibility with features like easy login, registration, and password recovery. The platform supports multiple languages and offers an Android application for convenient access. It promotes responsible gaming and provides customer support. It is a comprehensive online entertainment hub with various gaming options and potential for significant winnings.
Fliar Intelligence Index™ 27how this company ranks against its industry peers
Product
top 14%Moat
top 26%Funding
top 39%Market
top 40%Fin. health
top 47%Talent
bottom 49%Product: 9 distinct product lines · Company stage: Post IPO
Moat: Top 9% by revenue among 44 tracked Agrochemicals companies · Editorial + unicorn rating 2/10 · IP moat: 21 patents
Funding: Raised $93.1M across 1 rounds · 1 rounds over 10 yrs (0.1/yr) · Last round Post IPO (Jun 2016)
Funding rounds
- Jun 2016Post IPO$93.1M
Founders & team
Investors
Sumitomo Chemical
#11
Early Stage · Navi Mumbai, Maharashtra · founded 1992 · 88 employees$28.8Mraised▾
Early Stage · Navi Mumbai, Maharashtra · founded 1992 · 88 employees
Manufacturer of specialty chemical products
Fliar Intelligence Index™ 76how this company ranks against its industry peers
Fin. health
top 26%Product
top 28%Innovation
top 30%Talent
top 33%Growth
top 34%Funding
top 36%Fin. health: Revenue ~$50.0M (FY2018) · Net margin 22.7% · Revenue +970% YoY
Product: 3 distinct product lines
Innovation: 3 product lines
Audience (LinkedIn): 3k LinkedIn followers
Activity (LinkedIn): 1 awards announced in 12 mo
Funding rounds
- May 2019Unattributed$5.7M
- Jun 2016PE$16.1M
- May 2007Unattributed$6.9M
Founders & team
Investors
India Advantage, DRT, ICICI Venture
Tech stack
Apache Http ServerCloudflareCloudflare Bot ManagementCore-JsDiviGoogle Analytics
#12
Funding Raised · Mumbai, Maharashtra · founded 1991 · 88 employees$28.8Mraised▾
Funding Raised · Mumbai, Maharashtra · founded 1991 · 88 employees
Manufacturer of specialty chemicals for flavour, fragrance, pharmaceutical, and agro industries. The company focuses on green and sustainable manufacturing processes. It develops pharmaceutical intermediates to serve the API industry’s growing needs. The company also produces a synergist used in insect and crop protection applications. It continually modifies processes to reduce waste and improve efficiencies.
Fliar Intelligence Index™ 27how this company ranks against its industry peers
Funding
top 42%Fin. health
bottom 44%Growth
bottom 42%Global
bottom 36%Market
bottom 31%Moat
bottom 30%Funding: Raised $28.8M · 4 rounds over 19 yrs (0.2/yr) · Last round round (May 2019)
Fin. health: Revenue ~$3.8M (FY2022) · Net margin 22.7%
Growth: Headcount 94 → 88 (-6%) across vintages
Investors
ICICI Venture, DRT, Arun Khanderia, Bharat Khanderia, Raj Khanderia, Rekha Khanderia
Funding & investor landscape
$947.9Mtotal disclosed funding
38companies funded
63disclosed rounds
0rounds last 90 days
Most active investors
Notable founders
Atanuu Agarrwal
Co-Founder & CEO · Distil
Viraj Shah
Co-Founder · Distil
Vikram Puri
CEO · POSHS metal industries
Nilesh Narwekar
CEO · JSW Cement
Parth Jindal
Managing Director · JSW Cement
Sanjay Choudhary
Owner · SBL Energy
Raghavan Srinivasan
Co-Founder & Director · Inventys
Deepak Birewar
Founder & Chairman & Managing Director · Inventys
Rajan Venkatesh
CEO and Managing Director · Laxmi
Bhagirath Arya
Founder · JBF Industries
Ramu raman Agarwal
Founder · Shubhalakshmi Polyesters
Ajay Agarwal
Managing Director · Shubhalakshmi Polyesters
Prism market signals · India · country-scoped Prism corpus, 231,571 docs
Market landscape — 10 sub-themes by coverage
Share of Chemicals and Materials coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
RESEARCH SIGNALS · India
How research on Advanced Materials is moving in India
A read on the academic research around Advanced Materials — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 601 India-affiliated papers.
research sentiment over time
200820182026
enthusiastic · positive · guarded tone
Tone is overwhelmingly optimistic and intensifying — the enthusiastic (strongly-positive) share moved 27% → 83% across 2008–2026.
top research entities
- Ministry of Education37
- Indian Institute of Science Bangalore26
- Indian Institute of Technology Kharagpur22
- Academy of Scientific and Innovative Research21
- Indian Institute of Technology Delhi21
leading researchers
K. V. Gangadharan · Sanjib Banerjee · Bishakh Bhattacharya · Sayan Basak · A. Arockiarajan · P. Sam Paul · Balasubramanian Kandasubramanian · Ayyappanpillai Ajayaghosh
▲
Breakthroughs130 · 22%
▲ 14%→25% share
▲1.8× share momentum1 median citations74% since 2021mostly methods-led
Smart material breakthroughs are surging — Indian institution papers tripled from 9 to 28, with Polymer and Soft robotics newly emerging.
rising sub-themes (early→recent)
- Smart material9→28
- Elastomer1→10
- Nanotechnology4→12
- Composite material2→9
- Composite number2→7
Newly emergingPolymer 0→13 · Smart polymer 0→7 · Soft robotics 0→6
Landmark Cutting edge development on graphene derivatives modified by liquid crystal and CdS/TiO2hybrid matrix: optoel · 182 cites
◆
Advancements267 · 44%
▼ 55%→41% share
▼0.7× share momentum2 median citations59% since 2021mostly reviews
Nanocomposite advancement research intensified sharply — papers rose from 2 to 15, alongside newly emerging Self-healing hydrogels and Biocompatible material topics.
rising sub-themes (early→recent)
- Smart material35→64
- Nanotechnology8→25
- Nanocomposite2→15
- Graphene2→11
- Polymer5→13
Newly emergingNanomaterials 0→12 · Self-healing hydrogels 0→10 · Biocompatible material 0→9
Landmark Smart polymers for the controlled delivery of drugs – a concise overview · 577 cites
▼
Concerns53 · 9%
▲ 5%→10% share
▲2.0× share momentum2 median citations75% since 2021mostly reviews
Smart material concerns are intensifying — related papers quadrupled from 5 to 22, with 3D printing and Self-healing hydrogels raising newly flagged issues.
rising sub-themes (early→recent)
- Smart material5→22
- Nanotechnology1→11
Newly emerging3D printing 0→5 · Self-healing hydrogels 0→5
Landmark 4D printing: Fundamentals, materials, applications and challenges · 319 cites
RESEARCH HOTSPOTS · India
Where advanced materials is researched across India
Location clusters by institution affiliation — each city's volume, stance tone, and a quick read on its hot topic, what's advancing, the opening opportunity, and the main concern.
Delhi-NCR48 · +0.45
Bengaluru37 · +0.48
Chennai32 · +0.46
Mumbai29 · +0.58
Kharagpur22 · +0.44
Kolkata17 · +0.38
Kanpur12 · +0.48
Guwahati12 · +0.38
Varanasi10 · +0.63
Roorkee9 · +0.53
PATENT SIGNAL · India
Who's filing advanced materials patents in India
India advanced materials patent filing is cooling — 1,335 filings from 2,316 assignees (2016–2025), led by CSIR, TATA Steel, Tata Consultancy Services; annual filings 131→109.
1,335 filings2,316 assigneespeak 194/yr2016–2025
filing momentum (YoY 2016–2025)
top patent filers
- CSIR482
- TATA Steel117
- Tata Consultancy Services60
- Halliburton Energy SERV60
- Indian INST Scient57
- Indian OIL55
- TATA Chemicals46
- Panacea Biotec45
Common questions
How many Chemicals and Materials companies are there in Maharashtra, India?
Radar tracks 1025 indexable Chemicals and Materials companies headquartered in Maharashtra, India, India, that meet our profile-completeness bar.
What is the total funding raised by Chemicals and Materials companies in Maharashtra, India?
The Chemicals and Materials companies in Maharashtra, India on this list have raised a combined $947.9M in disclosed equity funding across 38 funded companies.
Which is the highest-funded Chemicals and Materials company in Maharashtra, India?
JSW Cement is the highest-funded Chemicals and Materials company in Maharashtra, India, with $193.3M in disclosed equity funding.
How many Chemicals and Materials companies in Maharashtra, India are funded?
38 of the 1025 Chemicals and Materials companies in Maharashtra, India on this list have disclosed at least one equity funding round.
How many Chemicals and Materials unicorns are there in Maharashtra, India?
1 Chemicals and Materials company in Maharashtra, India on this list is valued at $1B or more.
Who are the top investors in Maharashtra, India Chemicals and Materials companies?
The most active investors in Maharashtra, India Chemicals and Materials companies on this list include BIRAC, ICICI Venture, Axis Mutual Fund, Dandekar Brothers, Department of Biotechnology.
Riya SenguptaFinancials
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.