DCM Shriram is set to acquire full ownership of Hindusthan Specialty Chemicals Ltd for Rs 375 crore, marking its entry into advanced materials. The move enhances synergies with its core chemicals business and aligns with its strategic focus on renewables and mobility, as part of a broader Rs 1,000 crore investment plan.

DCM Shriram Ltd’s board has approved the signing of a definitive agreement to acquire 100 per cent stake in Hindusthan Specialty Chemicals Ltd (HSCL) for Rs 375 crore, with the deal formalized on June 12, 2025. The acquisition, subject to regulatory approvals, marks DCM Shriram’s strategic entry into the advanced materials space and strengthens integration with its existing chemicals operations.

HSCL, an unlisted subsidiary of Hindusthan Urban Infrastructure Ltd, operates a 43-acre state-of-the-art facility in Jhagadia, Gujarat—just 3.5 km from DCM Shriram’s current chemical complex—offering significant operational synergies. In FY 2024–25, HSCL reported revenue exceeding Rs 274 crore and has a production capacity of over 17,000 KTPA for Liquid Epoxy Resin.

Its portfolio includes advanced materials such as epoxy resins, hardeners, and formulated resins used across aerospace, electronics, renewable energy, EVs, defence, and composites. The acquisition aligns with DCM Shriram’s Rs1,000 crore investment plan announced earlier in February 2024, aimed at expanding its Chemicals Strategic Business Unit into the epoxy and advanced materials space.

The company views HSCL’s proven technology, established customer base, and strategic location as key enablers for rapid scaling. It also sees the move as a critical step in building a diversified, innovation-led chemicals portfolio aligned with India’s growth in sunrise sectors.