Acutaas Chemicals Limited has successfully completed the acquisition of a controlling stake in Indichem Inc, a South Korean semiconductor chemicals company. The acquisition was executed through Acutaas Advance Material Limited, a wholly owned subsidiary of the company, which has acquired 75% shareholding in the joint venture company.

Acquisition Details

The transaction represents the completion of a joint venture agreement originally executed on June 27, 2025, between Acutaas Advance Material Limited and J & Materials Co. Ltd. With this acquisition, Indichem Inc has become a step-down subsidiary of Acutaas Chemicals Limited.

Target Company Profile

Indichem Inc operates in the semiconductor chemicals industry, focusing on the manufacture of specialty chemicals for semiconductor applications catering to South Korean and global markets. The company was newly incorporated in 2025, and its audited annual financial statements are yet to be prepared.

Strategic Rationale

The acquisition aligns with Acutaas Advance Material Limited's growth strategy for expansion into specialty chemicals for the semiconductor industry in the global market. This move significantly complements the company's existing product portfolio and positions it to capitalize on opportunities in the semiconductor chemicals sector.

Regulatory Compliance

The company has obtained requisite governmental and regulatory approvals in both India and South Korea under applicable laws of both countries. The transaction does not fall within related party transactions, ensuring arm's length dealing principles are maintained.

Manufacturing Development

Indichem Inc is currently in the construction and capex phase for its manufacturing plant in South Korea. The facility is scheduled to be commissioned by the end of the current calendar year, which will enable the company to commence commercial operations in the semiconductor chemicals market.

Acutaas Chemicals Limited has released its Annual Sustainability Report for FY 2024-25, providing comprehensive insights into the company's environmental, social and governance (ESG) performance during the reporting period from April 1, 2024 to March 31, 2025.

Key Performance Highlights

The report showcases significant achievements across multiple sustainability dimensions. The company earned the prestigious EcoVadis Platinum Medal, positioning it among the top 1% of companies assessed globally. This recognition underscores Acutaas Chemicals' commitment to sustainable business practices and responsible operations.

Environmental Stewardship Initiatives

The company demonstrated strong environmental performance through various initiatives. A 10.8 MW solar plant was commissioned during FY 2024-25, with an additional 5 MW solar capacity completed in the current financial year. The Sachin unit achieved ISO 50001:2018 certification, reinforcing systematic energy management practices.

Social Impact and Governance

The report highlights the company's commitment to workforce development and community engagement. All employees received safety training, while 100% of workers were trained in health and safety protocols. The company reported zero conflict-of-interest cases and zero POSH complaints during the reporting period.

Operational Excellence and Compliance

Acutaas Chemicals operates three manufacturing units and an R&D centre in Gujarat, India. The facilities are located at GIDC Sachin (Unit 1), GIDC Ankleshwar (Unit 2), and GIDC Jhagadia (Unit 3). All manufacturing units maintain compliance with multiple international standards including ISO 9001, ISO 14001, ISO 45001, ISO 50001, SA8000 and ISMS 27001.

The company's sustainability reporting framework aligns with Global Reporting Initiative (GRI) Standards 2021, United Nations Global Compact principles, and Business Responsibility and Sustainability Report (BRSR) requirements under SEBI regulations.

Future Sustainability Roadmap

The report outlines the company's commitment to advancing decarbonisation and circular economy initiatives. Key focus areas include expanding renewable energy capacity, strengthening supplier ESG performance, and enhancing digital assurance for improved transparency and real-time monitoring. The ESG Committee, which met twice during the year, continues to guide sustainability strategy and performance evaluation.

Selected ESG indicators covering energy consumption, greenhouse gas emissions, water management and waste management were independently assured by Growlity Private Limited using standard verification methods, reinforcing the credibility of reported sustainability data.