Blackrose Industries - flat results ( Disclosure- Invested)
Blackrose Industries- commencement of NMA production
Blackrose industries - Margin pressure.
-The start of the acrylamide powder plant is awaiting approval from the government authorities and is expected shortly and orders are already in hand. The company will be the only producer outside of China in this segment.
-The start of the acrylamide powder plant is awaiting approval from the government authorities and is expected shortly and orders are already in hand. The company will be the only producer outside of China in this segment.
NMA-Sales of the product have started at a small scale while the product is undergoing trials at larger customers.
Blackrose industries- started production of Acrylamide solid.
Blackrose Industries- BUSINESS UPDATE
✍️ Acrylamide Liquid
Domestic sales of acrylamide liquid reduced by 29% over the previous quarter as demand from
downstream sectors fell. The CIF India price of acrylonitrile came down to $1600/MT levels as
the oversupply position in the
✍️ Acrylamide Liquid
Domestic sales of acrylamide liquid reduced by 29% over the previous quarter as demand from
downstream sectors fell. The CIF India price of acrylonitrile came down to $1600/MT levels as
the oversupply position in the
Indian market and low plant capacity utilisation in China continued to plague the spot markets. Lower acrylonitrle prices coupled with the dumping of Chinese acrylamide powder into India led to reduced price realisations for acrylamide liquid.
✍️Exports of acrylamide liquid were unchanged over the previous quarter, but with the drop in
domestic sales, exports made up 30% of total acrylamide liquid sales.
✍️Solid
The company commenced commercial production of acrylamide powder on June 2, 2022 and
has become the only
domestic sales, exports made up 30% of total acrylamide liquid sales.
✍️Solid
The company commenced commercial production of acrylamide powder on June 2, 2022 and
has become the only
company outside of China producing acrylamide in solid form. The slowdown in Chinese domestic demand has resulted in dumping of Chinese acrylamide powder into India, resulting in large domestic inventories of Chinese product. The company exported acrylamide powder during the q
✍️Outlook – Acrylamide Liquid and Solid
Q2 FY23 has seen a further reduction in both acrylonitrile prices, which is now at $1400 levels,
and in acrylamide prices. Demand from the ceramic tile industry has reduced following the
announcement in July of the month-long Morbi industry
Q2 FY23 has seen a further reduction in both acrylonitrile prices, which is now at $1400 levels,
and in acrylamide prices. Demand from the ceramic tile industry has reduced following the
announcement in July of the month-long Morbi industry
shutdown during August 2022
(business-standard.com). Exports of acrylamide liquid have improved.
✍️The company has started reviewing the possibility of applying for anti-dumping duty on Chinese acrylamide.
(business-standard.com). Exports of acrylamide liquid have improved.
✍️The company has started reviewing the possibility of applying for anti-dumping duty on Chinese acrylamide.
✍️Export freights have started to come down and the company is working to enhance its export
activities.
✍️ Polyacrylamide Liquid
Ceramic Binder
Sales of the company’s ceramic binder, BRILBIND CE01, increased by approximately 4%
compared to the previous quarter despite an
activities.
✍️ Polyacrylamide Liquid
Ceramic Binder
Sales of the company’s ceramic binder, BRILBIND CE01, increased by approximately 4%
compared to the previous quarter despite an
overall weak sentiment in the ceramic tiles sector
caused by overcapacity and increasing inventory of tiles. Selling prices were increased to reflect
raw material cost increases from the earlier quarter and in consideration of increased packaging
costs.
caused by overcapacity and increasing inventory of tiles. Selling prices were increased to reflect
raw material cost increases from the earlier quarter and in consideration of increased packaging
costs.
✍️Outlook
As highlighted above, in July 2022 the Morbi ceramic tile industry announced a month-long
shutdown during August 2022. Market demand for ceramic binder has reduced during Q2 FY23
due to this announcement. It is expected that the current supply glut in the tile industry
As highlighted above, in July 2022 the Morbi ceramic tile industry announced a month-long
shutdown during August 2022. Market demand for ceramic binder has reduced during Q2 FY23
due to this announcement. It is expected that the current supply glut in the tile industry
would be alleviated due to the shutdown, and that demand for the company’s ceramic binder will start
picking up towards the second-half of September, following the shutdown.
✍️ N-Methylol Acrylamide
The company produces two variants – NMA 48% and NMA LF. The products were
picking up towards the second-half of September, following the shutdown.
✍️ N-Methylol Acrylamide
The company produces two variants – NMA 48% and NMA LF. The products were
launched in Feburary 2022, and being specialty monomers, customer approvals are required in multiple stages.
Repeat orders were received from regular customers while sampling and trials were on at other potential customers’ ends.
Repeat orders were received from regular customers while sampling and trials were on at other potential customers’ ends.
✍️Outlook
The company has started receiving orders/inquiries from domestic and foreign multinational
companies during Q2 FY23. Competition is largely from European manufacturers and the
company hopes to make significant breakthroughs in this product.
The company has started receiving orders/inquiries from domestic and foreign multinational
companies during Q2 FY23. Competition is largely from European manufacturers and the
company hopes to make significant breakthroughs in this product.
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