Page 189 - CW E-Magazine (15-7-2025)

Special Report Special Report

Expo & Conference News

Fig. 7: Capex intensity in India’s chemical industry
Fig. 5: PMI movement October 2020 to April 2025, % Source: Ind-Ra
Source: Bloomberg, Ind-Ra
Next round of large capex over Ind-Ra expects sector participants to be incurred over FY27-FY28. In
likely to remain lower than mid-cycle able balance sheet leverage ratio. The of Ind-Ra’s portfolio having FY25 net FY27-FY28 to announce the next large round of the interim, players would look to
average, with prices remaining under sectoral net leverage stood at 1-1.25x leverage of 2.5x and above, off set by Considering the ongoing industry expansionary capex once more clarity focus on maintaining adequate balance
pressure due to oversupply. in FY25 (FY24: 1.3-1.4x), slightly bet- around 33% of players with a net cash headwinds, evolving geopolitical land- emerges on the evolving scenario and sheet liquidity to mitigate any head-
ter y-o-y, due to the higher operational position. scape and benign pricing environment, once the recently added capacities winds. Around 90% of Ind-Ra rated
The benign pricing environment EBITDA y-o-y and some working capi- FY26 capex will be largely focused on adequately ramp up. Accordingly, the entities have an adequate liquidity
kept sectoral margins in the range of tal release due to the gradual depletion
The credit metrics at a sectoral level
able individuals driving innovation vered by experts from a wide range running the session ‘Unlocking the cost optimisation and committed capex. next large round of capex is expected position.
and success in the Asia Pacific beauty of cosmetic organisations, who will benefits of multifunctional 1,3-pro-
are expected to improve y-o-y in FY26
12.5-13.5% in FY25, lower than the of supply chain inventories.
sector, including R&D professionals, take attendees through a variety of panediol to maximize performance’.
average margin levels witnessed over
Homing in on a key focus area for
scientists, innovators, and role formulation techniques focusing on due to an improvement in the opera-
The sectoral net leverage indicates tional EBITDA. As per Ind-Ra’s port-
the past seven fi scals.
models. The 9 Faces will be selected everything from foundation, UV, anti- formulators, Ms. Gwendolyn Neoh at Chemical Weekly Buyers’ Guide
by an expert judging panel and the acne and pore care to suncare pro- Ashland will be running the session
further borrowing headroom available folio sensitivity analysis, the rated port-
winners will receive a certificate, ducts, propanediol and sustainable on ‘AI driven 4D defences – Vitamin www.cwbg.in
Despite the ongoing industry head-
for growth plans. However, there is folio remains resilient to withstand any
recognition, and will be honoured at cleansing. D boosting @ hydrating jelly mask for www.cwbg.in
winds, the balance sheets at a sectoral some dichotomy in the credit profi le volatility in EBITDA, with suffi cient
the ‘In-cosmetics Asia Awards’. The acne and pore care’ on 5 November. On
level remain strong with a comfort-
In the APAC market, foundations
the same day, Mr. Carlos Ilao, Busi-
awards celebrate the most innova- of chemical players with around 28% headroom available in most cases. Pocket-Friendly Pay-as-you-use Subscription Plans
tive ingredients from the ‘Innovation with a lightweight fluid texture are ness Development Manager APAC at
Zone’ and ‘Spotlight On’ categories. gaining popularity but it can be dif- Clariant Southeast Asia, will work Opt for a scheme that suits your needs and make best use of India’s most authentic directory
ficult for formulators to achieve low with participants on sunscreen formu- for sourcing chemicals and related products.
‘Formulation Lab’ highlights viscosity, high coverage products. Ms. lation in the ‘Encapsulated UV filters
In-cosmetics Asia also announced Thalia Nghiem, from Kobo Products for ultra- light sunscreen with high UV Subscription plans
an extensive programme for its ‘For- Asia Pacific will explore this in her protection’ session. Meanwhile, Ms. Plan Hours of usage INR* USD*
mulation Lab’ – the interactive labo- session on 5 November, where partici- Haruna Sawaguchi, Technical Market-
ratories which offer formulators and pants will create a water-in-oil liquid ing Division at Nikko Chemicals will Plan 25 25 1,500 25
R&D staff a hands-on opportunity to foundation with the added benefits of enable attendees to create a water- Plan 50 50 2,500 50 Web-Based
enhance their formulation skills. a smooth feel and blurred pores. based combination sunscreen (SPF Plan 100 100 4,500 75 Directory
50+, PA ++ in-vitro) in the workshop, Plan 150 150 6,000 100 on Indian
Running across all three days of Meanwhile, on 6 November, Mr. Sean ’Skinified’ serum sunscreen with com-
the event, 10 sessions will be deli- Gahan from Primient Covation will be bination UV filter system’. *Plus GST @ 18% applicable Chemical Industry
and Trade
UNLOCKING POTENTIAL For more information or for a FREE trial contact:
In-cosmetics Global’s new report explores growing Mr. Kiran Iyer Mr. Abhishek Vora
role of SMEs in beauty industry kiran@chemicalweekly.com abhi@chemicalweekly.com Chemicals & Search & download
Chemical Weekly Database Pvt. Ltd. related products / data on 8,500+
The leading personal care tial: Meet the SMEs Driving sme-mini-report.html) explores the 602-B, Godrej Coliseum, K.J. Somaiya Hospital Road, Equipment & Manufacturers /
ingredients industry exhibition, Innovation in Cosmetics’. The impact and influence that small and Behind Everard Nagar, Sion (E), Mumbai - 400 022. Instrumentation / Dealers / Indentors /
report (more info at: https://www.
In-cosmetics Global, has released Fig. 6: Price movement in China’s chemical industry medium-sized enterprises (SMEs) Phone: +91-22-24044471 72 Consultants Merchant Exporters
a new report on ‘Unlocking Poten- in-cosmetics.com/global/en-gb/lp/ are having on a market segment
Source: Bloomberg, Ind-Ra
46 Home, Personal & Institutional Care India October 2024
188 Chemical Weekly July 15, 2025 Chemical Weekly July 15, 2025 189
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