The Directorate General of Trade Remedies (DGTR) has launched an anti-dumping investigation into mono ethylene glycol imports from Kuwait, Saudi Arabia, and Singapore, a move that could have significant implications for India Glycols Ltd and the broader chemical industry in India.

Investigation Details

The DGTR, India's trade remedy investigation arm, has initiated this probe in response to concerns about potentially unfair trade practices in the mono ethylene glycol market. Mono ethylene glycol is a crucial chemical compound used in various industries, including textiles, packaging, and automotive applications.

Impact on India Glycols

As a key player in the Indian chemical industry, India Glycols is likely to be affected by the outcome of this investigation. The company, which is involved in the production and trade of glycols, including mono ethylene glycol, may see changes in its competitive landscape depending on the findings of the DGTR.

Broader Industry Implications

This anti-dumping investigation is not limited to a single company but has the potential to reshape the entire mono ethylene glycol trade in India. The probe targeting imports from Kuwait, Saudi Arabia, and Singapore—major producers of petrochemicals—could lead to significant shifts in supply chains and pricing structures within the industry.

Next Steps

The DGTR will conduct a thorough investigation to determine if dumping has occurred and, if so, to what extent it has impacted the domestic industry. Based on its findings, the authority may recommend the imposition of anti-dumping duties on imports from these countries.

Industry stakeholders, including India Glycols and other domestic producers, as well as importers and users of mono ethylene glycol, will be closely monitoring the progress and outcome of this investigation. The results could have far-reaching consequences for the chemical sector's competitiveness and profitability in India.

India Glycols Limited (IGL) has announced a revised dividend payment following a recent stock split, maintaining its commitment to shareholder returns while adjusting for the new share structure.

Dividend Announcement

The company has declared a dividend of 100% on the new face value of its shares, which translates to Rs. 5.00 per share. This announcement comes after a 2:1 stock split that changed the face value of India Glycols' shares from Rs. 10.00 to Rs. 5.00 each.

Stock Split Details

• The Board of Directors approved the stock split on May 30.
• Shareholders gave their approval through a postal ballot on July 22.
• The record date for the split was set as August 12.

Dividend Timeline and Approval

• The Board initially recommended a 100% dividend when shares had a Rs. 10.00 face value on May 16.
• The revised dividend of Rs. 5.00 per share (post-split) maintains the 100% dividend rate on the new face value.
• The dividend payout is subject to shareholder approval at the upcoming 41st Annual General Meeting scheduled for September 30.

Company's Communication

In a filing to the stock exchanges dated September 22, India Glycols stated, "In view of the above, the dividend at the rate of 100% i.e. Rs. 5/- per Equity Share having face value of Rs. 5/- each would be paid, if approved by the Members at the 41st Annual General Meeting of the Company scheduled on Tuesday, 30th September."

This move by India Glycols demonstrates the company's effort to maintain consistent shareholder returns while adapting to its new share structure. Investors will be keeping a close eye on the upcoming Annual General Meeting for the final approval of this dividend payout.