Mangalore Chemicals and Fertilisers Ltd (MCFL) posted about 22 per cent drop in standalone net profit at Rs 16.84 crore for the quarter ended March, 2013, as sales dropped due to poor demand in drought-hit states and rise in prices of non-urea fertilisers.
Gujarat Alkalies and Chemicals Ltd (GACL) which is the single largest producer of Caustic Soda in India stated that it posted an 82.6 per cent rise in its net profit to Rs. 80.73 crore for the fourth quarter ended March 31, 2013 as compared with a net profit of Rs 44.21 crore for the fourth quarter ended March 31, 2012.
The two-day seminar is organised by Federation of Indian Chambers of Commerce and Industry (FICCI) in association with Department of Chemicals and Petrochemicals, Government of India and Indian Institute of Chemical Engineers (IIChE)-NR. A large number of captains of the chemical and petrochemical industry as well as academia and policy makers were present.
IFFCO, world’s largest processed fertilizer cooperative, has achieved robust growth with its highest ever profit before tax at Rs1107 crores with the lowest ever specific energy consumption of 5.764 Gcal/MT of urea during the financial year 2012-13. With this remarkable performance, IFFCO has led the way in the fertiliser sector to stretch itself to provide price advantage to the farmers in the form of reduction in its retail prices.
The Cabinet Committee on Economic Affairs cleared the recommendations of Empowered Committee of Secretaries (ECoS) for revival of five units of Fertilizer Corporation of India Ltd. (FCIL) at Sindri, Talcher, Ramagundam, Gorakhpur & Korba, said Srikant Kumar Jena,Union Minister of State (Independent Charge) for Chemicals & Fertilizers.
The urea segment is expected to report steady returns in the near term, while marginal upside remains in case the pricing policy is updated to account for the under-recoveries. While earnings will remain stable, the cash flows of the players have been impacted by the subsidy delays.
Despite challenges associated with energy and feedstock volatility and regulatory policies, the global chemical industry is poised for modest growth in 2013 with merger and acquisition (M&A) activity likely to be a key factor in helping companies achieve top line growth. 
“Plastics have inspired and continue to drive innovations that help to solve society’s greatest challenges – from lifesaving technologies to more sustainable living,” Jena said while giving away the 3rd National Awards for Technology Innovation in Petrochemical and Downstream, Plastic Processing Industry in New Delhi. 
In order to strengthen its position in the Southeast Asia, India and Oceania region, Sumitomo Chemical has recently established Sumitomo Chemical (Asia Pacific) Pte Ltd in Singapore as its Business Support Regional Headquarters for the Southeast Asia, India and Oceania region. The new company will begin operation on April 1.
Clariant Chemicals (India) has said that the company will divest its textile chemicals, paper specialities and emulsion businesses for a consideration of Rs. 209.15 crores, subject to the approval by the shareholders as required under the Companies Act, 1956.
According to 'India Boiler Water Treatment Chemicals Market Forecast & Opportunities, 2018' the Indian boiler water treatment chemicals market will grow at the CAGR of 8.2% till 2018, in terms of revenues.
R Mukundan is elected as the Chairman of the Confederation of Indian Industry (CII) Western Region for 2013-14. Mukundan is the Managing Director of Tata Chemicals Limited.
Sumitomo Chemical announced that McLaughlin Gormley King Company (MGK) has become a consolidated subsidiary of Sumitomo Chemical, which acquired a majority stake in MGK.
Reliance Industries Limited (RIL) recently selected Foster Wheeler as an engineering and procurement services contractor for its Paraxylene project.
Chemical maker BASF recently opened a state-of-the-art production site for customer specific antioxidant blends (CSB) in Bahrain. This is the largest facility of this kind worldwide and will become fully operational in December. 
BASF India reported profit after tax (PAT) of Rs 28.1 crore for the second quarter ended September 30, down from Rs 34.2 crore posted in the same period of the previous year. Sales stood at Rs 1,006.6 crore as against Rs 959.3 crore in the corresponding period of the previous year, showing an increase of 5% on a comparable basis, a company statement said here.
Solvay and Russian petrochemical company SIBUR have signed an agreement to establish Ruspav, a 50/50 joint venture for the production of surfactants and oilfield process chemicals in Dzerzhinsk, Russia. The agreement was signed in presence of the Minister of Energy of the Russian Federation, Alexander Novak, during the 26th Gastech Conference in London today by Dmitry Konov, CEO of SIBUR, and Emmanuel Butstraen, Head of Solvay's Global Business Unit Novecare.
SABIC expressed its confidence in India’s petrochemical industry growth opportunities, and its commitment to continue strengthening its market presence, at India Chem 2012.
Pranab Mukherjee, the President of India, described the Indian chemical and petrochemical sector as a focus destination for investment. Explaining that virtually all sectors of the economy were dependent on this sector, he acknowledged that its growth was a prerequisite for the overall development of the country.
BASF and Ciech today announced the acquisition of parts of Ciech’s global TDI (toluene diisocyanate) business by BASF. The acquisition is subject to approval by the appropriate antitrust authorities. Closing of the transaction is expected in the first quarter of 2013. Financial terms of the agreement were not disclosed.
