DGTR Initiates Anti-Dumping Probe into Chinese Organophosphonates, Excel Industries in Focus
The Directorate General of Trade Remedies (DGTR) has initiated an investigation into alleged anti-dumping practices involving HEDP and ATMP organophosphonates imported from China. This probe could potentially impact Excel Industries, a key player in the chemical industry. Separately, Excel Industries has received Show Cause cum Demand Notices from GST authorities, raising a demand of Rs. 4,06,11,539 plus interest and penalties for the period 2019-20 to 2022-23. The company plans to contest these notices, claiming they are without merit.

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The Directorate General of Trade Remedies (DGTR) has launched an investigation into alleged anti-dumping practices involving certain organophosphonates imported from China, potentially affecting Excel Industries , a key player in the chemical industry.
Investigation Details
The probe specifically targets two chemical compounds:
- HEDP (1-Hydroxyethylidene-1,1-diphosphonic acid)
- ATMP (Amino trimethylene phosphonic acid)
These organophosphonates are widely used in various industrial applications, including water treatment, oil field operations, and as scale inhibitors in industrial processes.
Implications for Excel Industries
While the exact nature of Excel Industries' involvement in this trade investigation remains unclear, the company's position as a significant player in the chemical sector suggests potential implications. Excel Industries, known for its diverse portfolio in chemicals, polymers, and pharmaceuticals, may be affected by the outcome of this anti-dumping probe.
Industry Impact
The initiation of this investigation highlights the ongoing scrutiny of international trade practices, particularly in the chemical sector. If dumping is confirmed and anti-dumping duties are imposed, it could lead to changes in the competitive landscape for domestic producers of organophosphonates.
Company's Recent Regulatory Interactions
In a separate development, Excel Industries recently disclosed receiving Show Cause cum Demand Notices from the Office of the Principal Commissioner of CGST & Central Excise Audit – III, Mumbai. These notices pertain to GST-related matters:
- A demand of Rs. 4,06,11,539 has been raised by the GST Authority, along with applicable interest and penalties.
- The notices cover the period from 2019-20 to 2022-23.
- The primary issues involve non-payment of GST under the Reverse Charge Mechanism (RCM) for certain transactions and disallowed Input Tax Credit (ITC) claims.
Excel Industries has stated that these notices are without merit and plans to file a detailed reply with supporting evidence to substantiate its tax position.
Market Outlook
As the anti-dumping investigation unfolds, market participants will be closely watching for any potential impact on Excel Industries and the broader organophosphonates market in India. The outcome of this probe could influence pricing dynamics and competitive positioning within the industry.
Investors and industry stakeholders are advised to monitor further developments in both the anti-dumping investigation and the company's ongoing GST-related matters for a comprehensive understanding of Excel Industries' regulatory landscape.
Historical Stock Returns for Excel Industries
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
-0.33% | -1.33% | -1.86% | +9.88% | -24.35% | +12.80% |