20 Microns Limited (NSE: 20MICRONS | BSE: 533022)
Source: 20 Microns Limited Annual Report FY 2025-26 (Fiscal Year Ended March 31, 2026)
📋 Quick Facts: Company Snapshot
| Attribute | Disclosed Detail |
|---|---|
| Official Company Name | 20 Microns Limited |
| Corporate Identity Number (CIN) | L99999GJ1987PLC009768 |
| ISIN | INE144J01027 |
| NSE Symbol & BSE Scrip Code | NSE: 20MICRONS | BSE: 533022 |
| Date of Incorporation / Founding Year | 1987 |
| Founders / Key Figures | Mr. Rajesh C. Parikh (Chairman & Managing Director), Mr. Atil C. Parikh (CEO & Managing Director) |
| Registered Office | 9-10, GIDC Industrial Estate, Waghodia, Dist. Vadodara – 391760, Gujarat, India |
| Corporate Headquarters | 134-135, Hindustan Kohinoor Industrial Estate, L. B. S. Marg, Vikhroli (W), Mumbai – 400083, Maharashtra, India |
| Telephone & Investor Contact | +91 75 748 06350 | co_secretary@20microns.com / investors@20microns.com |
| Chairman & Managing Director | Mr. Rajesh C. Parikh |
| CEO & Managing Director | Mr. Atil C. Parikh |
| Chief Financial Officer (CFO) | Mr. Nihad Baluch |
| Company Secretary & Compliance Officer | Mrs. Komal Pandey (ACS 37092) |
| Promoter & Holding Group | Parikh Family & Ionix Advanced Materials Private Limited (Formerly Eriez Industries Private Limited) |
| Industry / Sector Classification | Industrial Minerals, Specialty Chemicals & Functional Additives |
| Total Workforce (Permanent Employees) | 413 Permanent Employees (as of March 31, 2026) |
| Manufacturing Facilities Count | 8 Operating Locations in India; Overseas Facilities in Malaysia, Vietnam, and Sharjah (UAE) |
| Countries / States Served | Exports to 83+ Countries; Domestic distribution across major Indian states |
| Statutory Auditors | M/s. Manubhai & Shah LLP, Chartered Accountants, Ahmedabad |
| Registrar and Share Transfer Agent (RTA) | Cameo Corporate Services Limited, “Subramanian Building”, No. 1, Club House Road, Chennai – 600002, Tamil Nadu |
🏢 The Corporate Identity: Who They Are & Where They Came From
The Big Picture
20 Microns Limited stands as India’s pioneer and market leader in micronized industrial minerals, specialty functional additives, and advanced material solutions. Headquartered in Vadodara, Gujarat, the enterprise has spent nearly four decades advancing particle engineering technology, transitioning from basic raw mineral processing to sophisticated, technology-led formulations at the sub-micron and nanoscale. The company bridges nature’s mineral abundance and modern industrial demands by developing tailored material inputs that optimize performance across paints, coatings, plastics, polymers, rubber, ceramics, paper, construction chemicals, and agriculture.
Operating an integrated “mining-to-market” value chain, 20 Microns controls captive mineral reserves alongside advanced micronization, calcination, wet processing, spray-drying, and surface-engineering infrastructure. By engineering specific particle size distributions and functionalizing surfaces, the enterprise delivers functional fillers and opacifiers that allow industrial customers to optimize material costs, substitute expensive imported inputs like Titanium Dioxide (TiO2), and enhance product durability, opacity, thermal stability, and rheological control.
- Pioneering Micronization: Introduced specialized, fine particle size industrial mineral processing in India during the late 1980s.
- Broad Geographic Reach: Exports performance minerals and additives to over 83 countries across Asia, Europe, North America, Latin America, and the Middle East.
- Technology Shift: Strategic business focus evolving from high-volume industrial mineral commodities toward higher-margin specialty functional additives and nanomaterials.
The Founders, Promoters & Their Legacy
The operational and strategic foundation of 20 Microns Limited was laid by the Parikh family, who recognized early that raw mineral extraction lacked the technical consistency required by evolving industrial sectors. Under the leadership of Mechanical Engineer Mr. Rajesh C. Parikh and Chemical Engineer Mr. Atil C. Parikh, the enterprise institutionalized in-house Research & Development, building DSIR-certified analytical laboratories and product application testing centers.
The promoter group maintains active stewardship over corporate strategy, technological developments, and global expansion. Mr. Rajesh C. Parikh directs long-term strategy, mining lease security, and R&D innovations, while Mr. Atil C. Parikh leads operational execution, international joint ventures, and digital transformation initiatives. Smt. Sejal R. Parikh oversees business operations, production planning, and corporate planning. Together with corporate promoter entity Ionix Advanced Materials Private Limited, the promoter group holds a consolidated equity stake of 45.04% as of March 31, 2026.
The Journey: History & Evolution
The corporate journey began in 1987 with the establishment of commercial operations at Waghodia near Vadodara, Gujarat. During its initial decade, 20 Microns introduced structured quality management systems and expanded production capacity by setting up a second manufacturing unit at Vadadala. Between 1996 and 2005, the company strengthened its national footprint by building specialized manufacturing plants at Hosur in South India, Bhuj in Kutch (focusing on Kaolin), and expanding to Alwar in Rajasthan and Tirunelveli in Tamil Nadu.
From 2006 to 2020, 20 Microns initiated its global expansion, setting up an international operational base in Malaysia for Calcium Carbonate processing, forming step-down manufacturing units in Vietnam, and establishing export distribution hubs in Sharjah (UAE). During this phase, the company established a Department of Scientific and Industrial Research (DSIR) approved R&D centre at Waghodia, formed strategic distribution partnerships with European industrial leaders like Dorfner GmbH Germany, and launched dedicated functional additive portfolios. In recent years (FY 2023–2026), 20 Microns has deepened backward integration by acquiring limestone extraction assets in Ipoh, Malaysia (GTLQ SDN BHD and IQ Marble SDN BHD), entering joint ventures for construction chemicals with Germany’s Sievert Baustoff GmbH, and launching breakthrough nano-engineered products.
The Corporate Umbrella
The group operates through a multi-tiered corporate structure comprising its flagship listed entity, 20 Microns Limited, along with direct subsidiaries, step-down foreign subsidiaries, and joint venture partnerships designed to secure captive mineral supply and expand market coverage:
- 20 Microns Nano Minerals Limited: 99.99% owned Indian subsidiary focusing on advanced sub-micron sizing, nano-clay systems, and high-purity functional fillers.
- 20 MCC Private Limited: 100% owned Indian subsidiary executing retail B2C consumer strategy across construction chemicals, waterproofing admixtures, and mineral-based agricultural soil conditioners (MinFert Division).
- International Operations: 20 Microns SDN BHD (Malaysia, 100%), 20 Microns FZE (UAE, 100%), and 20 Microns Vietnam Company Limited (Vietnam, 100% group holding), serving foreign processing and regional export logistics.
- Quarry Holdings (Malaysia): Step-down subsidiaries Goh Teik Lim Quarry SDN BHD (90%) and IQ Marble SDN BHD (86.68%) providing captive limestone reserves.
- Joint Ventures: Dorfner-20 Microns Private Limited (45% associate with Dorfner GmbH) and Sievert 20 Microns Building Materials Private Limited (40% associate with Sievert Baustoff GmbH).
⚙️ The Business Engine: What They Do & Where They Operate
The Core Divisions
20 Microns Limited reports as a single primary segment—Industrial Micronized Minerals and Specialty Chemicals—in alignment with Ind AS 108. However, internal management and market execution are structured around distinct end-use industrial applications. The sales mix across these sectors demonstrates a balanced industrial customer base:
| Industrial Division / Application Segment | Disclosed Revenue Contribution (%) | Key Primary Material Inputs Provided |
|---|---|---|
| Paints & Coatings | 46% | Hydrous & Calcined Kaolin, Calcium Carbonate, Talc, Silica, Barium Sulphate, Opacifiers, Rheology Modifiers |
| Plastics & Polymers | 26% | Coated & Uncoated Calcium Carbonate, Talc, Barytes, Flame Retardants, Desiccants, Anti-block Additives |
| Rubber & Elastomers | 10% | Engineered Fillers, Activators, Calcined Kaolin, Magnesium Oxide, Reinforcing Minerals |
| Ceramics & Sanitaryware | 5% | Hydrous Kaolin, Feldspar, Quartz, Premium Low-iron Talc, Specialty Minerals |
| Paper & Packaging | 4% | Low-abrasion Coating Kaolin, Calcium Carbonate, Barrier-enhancing Talc |
| Others (Construction Chemicals, Agriculture, Inks, Personal Care) | 9% | Waterproofing Admixtures, Biostimulants, Soil Conditioners, Cosmetic Kaolin, Infrared Management Additives |
The Product & Service Catalog
The company maintains a portfolio of over 50 specialty mineral products and functional additives engineered at the particle level. Key functional offerings include:
- Industrial Minerals Platform: High-purity micronized and surface-modified grades of Talc, Kaolin (Hydrous and Calcined), Calcite (Calcium Carbonate), Dolomite, Barytes, and Silica.
- Opacifiers & TiO2 Substitutes: Sub-micron kaolin and calcined aluminum silicate grades engineered to replace up to 15–20% of Titanium Dioxide in paint formulations without compromising scrub resistance or opacity.
- Plastic Film & Polymer Additives: TALC HFM 25 SD (spray-dried anti-blocking solution for plastic films) and HYPERTHERM UT (infrared management additive for agricultural greenhouse films).
- Rheology Modifiers & Specialty Coatings: HYDROXYLGEL A1, a surface-engineered rheology modifier designed for water-borne coatings and construction chemical systems.
- Personal Care & Cosmetics: White Kaolin Cosmetic Grade, a high-purity, ultra-fine mineral input supplying global personal care markets.
- Construction Chemicals (20MCC Division): Colido (integral crystalline waterproofing admixture), Micronsil 30C / 30C Plus, Metakrete, Cracksil (self-healing micro-crack repair), and Nanosil.
- Agricultural Inputs (MinFert Division): Mineral-based biostimulants, soil conditioners, and crop protection granules including MinFert BLK, GBR Series, Humicrons, Geo Care, and Thalaivaa.
The Names You Know
While 20 Microns operates predominantly in the B2B space supplying industrial formulators, its branded functional additives and retail construction products hold strong visibility across dealer networks. Its consumer-facing brand 20 MCC operates through a direct retail dealer base concentrated in Tier 2 and Tier 3 cities across India. Its specialized industrial additive brands (such as Micronsil, Metakrete, Colido, and MinFert) serve as standard benchmarks in construction, farming, and coating formulations.
Mapping the Domestic & Global Reach
The company serves both the domestic Indian market and international export destinations. Geographically, revenues are distributed as follows:
| Geographic Region | FY 2025-26 Revenue (₹ in Crores) | FY 2024-25 Revenue (₹ in Crores) | Latest YoY (%) |
|---|---|---|---|
| India (Domestic Market) | 838.27 | 794.20 | +5.55% |
| International (Export Markets / Foreign Subsidiaries) | 107.12 | 117.46 | -8.80% |
| Total Consolidated Revenue from Operations | 95,383.26 | 91,278.52 | +4.50% |
The Brick & Mortar Footprint
20 Microns Limited operates 8 manufacturing plants in India, positioned near captive mining reserves or major industrial consumer clusters. Key domestic manufacturing sites are located in Waghodia and Vadadala (Gujarat), Bhuj (Kutch, Gujarat), Hosur (Tamil Nadu), Tirunelveli (Tamil Nadu), Alwar (Rajasthan), Udaipur (Rajasthan), and Parbatsar-Makrana (Rajasthan). These plants are supported by 13 regional warehouse and distribution facilities across India.
Internationally, the group operates processing units and quarry operations in Malaysia (Ipoh, Perak), Vietnam, and a distribution office in Sharjah, UAE. The group holds captive mining leases covering 11.3 million tonnes of mineral reserves across Gujarat, Rajasthan, Andhra Pradesh, and Tamil Nadu, ensuring raw material security for China Clay, Dolomite, Calcite, and Limestone.
📊 The Financial Health: The Numbers Simplified
Multi-Year Financial Highlights (₹ in Crores)
The following multi-year trend table illustrates 20 Microns Limited’s financial progression over the 5-year period from FY 2021-22 to FY 2025-26:
| Financial Metric | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | Latest YoY (%) |
|---|---|---|---|---|---|---|
| Revenue from Operations (₹ Cr) | 953.83 | 912.78 | 777.49 | 701.69 | 613.20 | +4.50% |
| EBITDA (₹ Cr) | 123.09 | 117.39 | 105.09 | 85.74 | 79.39 | +4.86% |
| EBITDA Margin (%) | 12.90% | 12.90% | 13.50% | 12.20% | 12.90% | – |
| Profit After Tax – PAT (₹ Cr) | 66.67 | 62.48 | 56.16 | 41.96 | 34.73 | +6.71% |
| PAT Margin (%) | 7.00% | 6.90% | 7.20% | 6.00% | 5.70% | – |
| Return on Capital Employed – ROCE (%) | 16.41% | 18.31% | 20.28% | 18.02% | 17.54% | – |
| Return on Equity – ROE (%) | 14.60% | 15.97% | 16.00% | 15.40% | 14.90% | – |
| Cash Flow from Operations (₹ Cr) | 103.60 | 54.44 | 31.79 | – | – | +90.30% |
| Net Debt / Equity Ratio (x) | 0.13x | 0.24x | 0.30x | 0.30x | 0.30x | -45.83% |
Earnings, Expenses, & Take-Home Profits
During FY 2025-26, consolidated Revenue from Operations grew 4.50% to reach ₹95,383.26 in Crores, up from ₹91,278.52 in Crores in FY 2024-25. Consolidated EBITDA expanded 4.85% to ₹12,308.61 in Crores, maintaining a stable EBITDA margin of 12.90%. Net Profit After Tax (PAT) grew 6.70% year-on-year to ₹6,667.00 in Crores.
| Consolidated Statement of Profit and Loss (Ind AS) | FY 2025-26 (₹ in Crores) | FY 2024-25 (₹ in Crores) | Latest YoY (%) |
|---|---|---|---|
| Revenue from Operations | 953.83 | 912.79 | +4.50% |
| Other Income | 6.26 | 3.76 | +66.49% |
| Total Income | 960.09 | 916.55 | +4.75% |
| Expenses | |||
| Cost of Materials Consumed | 493.37 | 478.08 | +3.20% |
| Purchase of Stock in Trade | 9.74 | 12.39 | -21.39% |
| Changes in Inventories of Finished Goods, Stock in Trade and Work In Progress | 3.83 | (4.08) | N/M |
| Employee Benefits Expense | 85.08 | 74.98 | +13.47% |
| Finance Costs | 17.14 | 18.16 | -5.62% |
| Depreciation and Amortisation Expense | 20.53 | 18.26 | +12.43% |
| Other Expenses | 238.73 | 234.03 | +2.01% |
| Total Expenses | 868.42 | 831.82 | +4.40% |
| Profit Before Exceptional Items and Tax | 91.67 | 84.73 | +8.19% |
| Exceptional Items | 0.40 | 2.04 | -80.39% |
| Profit Before Tax | 91.28 | 82.69 | +10.39% |
| Add: Share of net profit/(loss) of equity accounted investee | (0.57) | 0.00 | N/M |
| Profit Before Tax (Post Share of Associates) | 90.71 | 82.70 | +9.69% |
| Tax Expense | |||
| Current Tax | 22.96 | 20.77 | +10.54% |
| Deferred Tax | 1.07 | (0.56) | N/M |
| Total Tax Expense | 24.04 | 20.21 | +18.95% |
| Profit for the Period | 66.67 | 62.48 | +6.71% |
| Profit Attributable to Owners of the Company | 66.83 | 62.38 | +7.13% |
| Profit Attributable to Non-Controlling Interest | (0.16) | 0.11 | N/M |
| Basic & Diluted Earnings Per Equity Share (₹) | 18.94 | 17.68 | +7.13% |
Assets, Borrowings, & Net Worth
Total Consolidated Assets stood at ₹75,622.26 in Crores as of March 31, 2026. Total Equity expanded to ₹48,361.90 in Crores, strengthening the company’s financial structure. Non-current debt stood at ₹1,744.97 in Crores, while current borrowings (working capital cash credit lines) were ₹12,837.41 in Crores.
| Consolidated Balance Sheet (Ind AS) | As at March 31, 2026 (₹ in Crores) | As at March 31, 2025 (₹ in Crores) | Latest YoY (%) |
|---|---|---|---|
| ASSETS | |||
| Non-Current Assets | |||
| Property, Plant and Equipment | 286.00 | 270.11 | +5.88% |
| Capital Work in Progress | 12.50 | 9.09 | +37.51% |
| Right of Use Assets | 8.91 | 12.78 | -30.28% |
| Intangible Assets | 1.54 | 1.24 | +24.19% |
| Intangible Assets under Development | 0.04 | 0.20 | -80.00% |
| Investments in Associates | 1.89 | 2.46 | -23.17% |
| Non-Current Investments | 16.86 | 22.58 | -25.33% |
| Non-Current Loans | 2.00 | 0.00 | N/M |
| Other Non-Current Financial Assets | 8.15 | 14.09 | -42.16% |
| Deferred Tax Asset | 1.15 | 1.26 | -8.73% |
| Other Non-Current Assets | 0.22 | 7.55 | -97.09% |
| Total Non-Current Assets | 339.27 | 341.37 | -0.62% |
| Current Assets | |||
| Inventories | 142.24 | 159.77 | -10.97% |
| Trade Receivables | 176.71 | 143.23 | +23.37% |
| Cash and Cash Equivalents | 73.58 | 31.30 | +135.08% |
| Bank Balances other than Cash and Cash Equivalents | 8.31 | 6.95 | +19.57% |
| Current Loans | 0.31 | 0.20 | +55.00% |
| Other Current Financial Assets | 2.87 | 2.64 | +8.71% |
| Other Current Assets | 12.93 | 26.17 | -50.59% |
| Asset held for sale | 0.00 | 2.88 | -100.00% |
| Total Current Assets | 416.95 | 373.14 | +11.74% |
| TOTAL ASSETS | 756.22 | 714.51 | +5.84% |
| EQUITY AND LIABILITIES | |||
| Equity | |||
| Equity Share Capital | 17.64 | 17.64 | 0.00% |
| Other Equity | 465.98 | 411.72 | +13.18% |
| Total Equity | 483.62 | 429.36 | +12.64% |
| Non-Controlling Interest | 3.24 | 4.69 | -30.92% |
| Non-Current Liabilities | |||
| Non-Current Borrowings | 17.45 | 22.21 | -21.43% |
| Lease Liabilities (Non-Current) | 5.32 | 9.95 | -46.53% |
| Other Non-Current Financial Liabilities | 0.61 | 0.48 | +27.08% |
| Non-Current Provisions | 1.47 | 0.90 | +63.33% |
| Deferred Tax Liabilities (Net) | 27.41 | 27.62 | -0.76% |
| Total Non-Current Liabilities | 52.27 | 61.15 | -14.52% |
| Current Liabilities | |||
| Current Borrowings | 128.37 | 128.87 | -0.39% |
| Trade Payables – Micro & Small Enterprises | 36.86 | 37.84 | -2.59% |
| Trade Payables – Other than Micro & Small Enterprises | 24.06 | 30.53 | -21.19% |
| Lease Liabilities (Current) | 4.87 | 3.80 | +28.16% |
| Other Current Financial Liabilities | 14.22 | 12.25 | +16.08% |
| Other Current Liabilities | 7.43 | 4.13 | +79.90% |
| Current Provisions | 0.14 | 0.75 | -81.33% |
| Current Tax Liabilities (Net) | 1.15 | 1.12 | +2.68% |
| Total Current Liabilities | 217.10 | 219.31 | -1.01% |
| TOTAL EQUITY AND LIABILITIES | 756.22 | 714.51 | +5.84% |
Cash Flow: Tracking the Money Movement
Cash generated from operations expanded to ₹10,359.49 in Crores in FY 2025-26, up from ₹3,178.64 in Crores in FY 2024-25, driven by improved working capital discipline and inventory liquidations. Net cash utilized in investing activities was ₹3,093.51 in Crores, while net cash used in financing activities stood at ₹3,037.45 in Crores due to debt servicing and dividend distributions.
| Consolidated Statement of Cash Flows (Ind AS) | FY 2025-26 (₹ in Crores) | FY 2024-25 (₹ in Crores) | Latest YoY (%) |
|---|---|---|---|
| Net Cash Generated from Operating Activities (A) | 103.59 | 31.79 | +225.86% |
| Cash Flow from Investing Activities | |||
| Purchase of Property, Plant and Equipment (CapEx / CWIP) | (26.36) | (76.68) | -65.62% |
| Acquisition of Equity Shares of Subsidiary | (4.89) | 0.00 | N/M |
| Loan Given (Including Interest) | (2.00) | 0.00 | N/M |
| Proceeds from Sale of Property, Plant and Equipment | 122.66 | 136.22 | -9.95% |
| (Deposit in) / Maturity of Bank Deposits (>3 Months) | (0.52) | 2.50 | N/M |
| Investment in Equity Shares of Associates | 0.00 | (2.00) | -100.00% |
| Interest Income Received | 1.60 | 1.31 | +22.14% |
| Bargain Gain & NCI on Acquisition of Control in Subsidiaries | 0.00 | 14.66 | -100.00% |
| Net Cash Used in Investing Activities (B) | (30.94) | (58.85) | -47.43% |
| Cash Flow from Financing Activities | |||
| Proceeds / (Repayment) of Long-Term Borrowings (Net) | (475.82) | 979.54 | N/M |
| Proceeds / (Repayment) of Short-Term Borrowings (Net) | (49.97) | 2,566.59 | N/M |
| Payment of Lease Liabilities | (3.56) | (3.28) | +8.54% |
| Finance Cost Paid | (17.14) | (18.16) | -5.62% |
| Dividend Paid (Including Tax) | (4.41) | (4.41) | 0.00% |
| Net Cash Used in Financing Activities (C) | (30.37) | 9.61 | N/M |
| Net Increase / (Decrease) in Cash and Cash Equivalents (A+B+C) | 42.29 | (17.45) | N/M |
| Cash and Cash Equivalents at Beginning of the Year | 31.30 | 48.75 | -35.79% |
| Cash and Cash Equivalents at End of the Year | 73.58 | 31.30 | +135.08% |
Funding the Future: CapEx, CWIP & R&D Spending
20 Microns has announced a ₹100 Crore CapEx roadmap to be deployed over a 24-month horizon. The strategy prioritizes infra-tech upgrades across manufacturing and R&D centers, strengthening captive quarrying operations, and scaling high-margin specialty variants. Capital Work in Progress (CWIP) stood at ₹12.50 Crores as of March 31, 2026. In FY 2025-26, direct Research & Development expenditure reached ₹2.33 Crores (₹2.33 Crores), supporting 35+ scientists and engineers across its DSIR-certified Waghodia research center.
🗺️ The Corporate Family Tree: Structure & Investments
Subsidiaries, Associates, & Joint Ventures (Form AOC-1)
The financial performance and operational contributions of the group’s subsidiary and associate entities for FY 2025-26 are summarized below:
| Entity Name | Relationship | Country of Incorporation | Group Ownership (%) | Total Turnover (₹ in Crores) | Profit / (Loss) After Tax (₹ in Crores) |
|---|---|---|---|---|---|
| 20 Microns Nano Minerals Limited | Direct Subsidiary | India | 99.99% | 114.92 | 7.41 |
| 20 MCC Private Limited | Wholly-Owned Subsidiary | India | 100.00% | 11.64 | 0.18 |
| 20 Microns SDN BHD | Wholly-Owned Foreign Subsidiary | Malaysia | 100.00% | 3.12 | 1.16 |
| 20 Microns FZE | Foreign Subsidiary | UAE | 100.00% | 4.55 | 0.31 |
| 20 Microns Vietnam Company Ltd | Foreign Step-down Subsidiary | Vietnam | 100.00% | 4.98 | 1.24 |
| Goh Teik Lim Quarry SDN BHD | Foreign Step-down Subsidiary | Malaysia | 90.00% | 1.44 | (1.69) |
| IQ Marble SDN BHD | Foreign Step-down Subsidiary | Malaysia | 86.68% | 0.00 | (0.09) |
| Dorfner – 20 Microns Private Limited | Associate / Joint Venture | India | 45.00% | 8.37 | 0.77 |
| Sievert 20 Microns Building Materials Pvt. Ltd. | Associate / Joint Venture | India | 40.00% | 0.25 | (2.29) |
Strategic Investments & Treasury Holdings
The company maintains strategic equity investments carried through Other Comprehensive Income (OCI). This includes 6,80,000 equity shares (representing a 13.58% stake) in Ionix Advanced Materials Private Limited (formerly known as Eriez Industries Private Limited), holding a fair value of ₹16.86 Crores as of March 31, 2026. Furthermore, the parent company acquired an additional 2,49,891 equity shares in 20 Microns Nano Minerals Limited during the year for ₹4.90 Crores, increasing its ownership from 97.21% to 99.99%.
👥 Power & Control: Who Pulls the Strings?
The Brain Trust: Board of Directors & Key Managerial Personnel (KMP)
The company’s governance framework is administered by a 7-member Board of Directors, comprising 3 Executive Directors and 4 Non-Executive Independent Directors:
| Name of Director / KMP | Designation / Role | DIN | Category |
|---|---|---|---|
| Mr. Rajesh C. Parikh | Chairman & Managing Director | 00041610 | Executive Director |
| Mr. Atil C. Parikh | CEO & Managing Director | 00041712 | Executive Director |
| Mrs. Sejal R. Parikh | Whole Time Director | 00140489 | Executive Director |
| Mr. Jaideep B. Verma | Independent Director | 03122096 | Non-Executive Independent Director |
| Dr. Swaminathan Sivaram | Independent Director | 00009900 | Non-Executive Independent Director |
| Mr. Dukhabandhu Rath | Independent Director | 08965826 | Non-Executive Independent Director |
| Mr. Prem Kumar Taneja | Independent Director | 00010589 | Non-Executive Independent Director |
| Mr. Nihad Baluch | Group Chief Financial Officer | – | Key Managerial Personnel |
| Mrs. Komal Pandey | Company Secretary & Compliance Officer | ACS 37092 | Key Managerial Personnel |
Who Owns the Stock? Shareholding Pattern
The shareholding structure of 20 Microns Limited as of March 31, 2026, comprising 3,52,86,502 equity shares of face value ₹5 each, is detailed below:
| Category of Shareholder | Number of Shareholder Folios | Total Equity Shares Held | Percentage of Total Shareholding (%) |
|---|---|---|---|
| Promoter & Promoter Group (Individuals) | 4 | 72,27,183 | 20.48% |
| Promoter Group (Corporate Bodies – Ionix Advanced Materials) | 1 | 86,66,181 | 24.56% |
| Total Promoter & Promoter Group Holding | 5 | 1,58,93,364 | 45.04% |
| Public Shareholding | |||
| Resident Individuals | 36,879 | 1,47,23,995 | 41.72% |
| Body Corporates | 137 | 28,28,495 | 8.02% |
| Non-Resident Indians (NRIs) | 601 | 7,24,747 | 2.05% |
| Hindu Undivided Family (HUF) | 637 | 5,20,177 | 1.47% |
| Limited Liability Partnerships (LLPs) | 23 | 3,93,497 | 1.12% |
| Foreign Portfolio Investors (FPIs) | 6 | 1,45,583 | 0.41% |
| Alternative Investment Funds (AIFs) | 3 | 36,918 | 0.10% |
| Investor Education & Protection Fund (IEPF) | 1 | 16,379 | 0.05% |
| Employees | 8 | 3,145 | 0.01% |
| Banks | 1 | 202 | 0.00% |
| Total Public Shareholding | 38,296 | 1,93,93,138 | 54.96% |
| Grand Total | 38,301 | 3,52,86,502 | 100.00% |
🎯 The Strategic Outlook: Future Plans & Potential Pitfalls
Competitive Advantages & Economic Moats
20 Microns Limited maintains operational moats anchored in vertical integration, proprietary R&D, and deep application intelligence:
- Integrated Mining-to-Market Model: Captive mining reserves of China Clay, Dolomite, Calcite, and Limestone totaling 11.3 million tonnes provide long-term raw material security and cost optimization.
- R&D & Application Simulation: Dedicated Product Application Centres feature specialized testing suites (including Sedigraph, Malvern Particle Size Analyzers, Spectrophotometers, and Brookfield Viscometers) that simulate customer manufacturing conditions.
- High Customer Switching Costs: Micronized minerals and surface-modified functional additives are integral to complex client formulations in paints and polymers. Re-qualifying new suppliers requires extensive testing cycles, locking in customer relationships.
- Regulatory Compliances & Status: Tier 1 Authorised Economic Operator (AEO) status, 2-Star Export House recognition, and DSIR-certified research facilities facilitate global trade access.
What Could Go Wrong? Key Challenges & Business Risks
Management outlines several key risk factors that could impact operational performance:
- Raw Material & Resource Security Risk: Environmental regulatory changes, mining lease renewal conditions, or volatility in fuel and energy costs for calcination can impact margins.
- Cyclicality in End-Use Sectors: Demand stays closely linked to output trends in paints, automotive polymers, real estate construction, and infrastructure development.
- Global Trade & Freight Volatility: Export revenues (accounting for ~11–14% of turnover) remain subject to international freight rates, foreign exchange fluctuations, and geopolitical tensions.
- Working Capital Intensity: Extended customer credit terms in industrial distribution require tight monitoring of trade receivables (aging receivable risk).
The Next Chapter: Growth & CapEx Initiatives
The group’s 3-year strategic roadmap is built on six core growth pillars, supported by its planned ₹100 Crore CapEx deployment over 24 months:
- Capacity Expansion & Quarrying: Upgrading processing technology across domestic facilities and expanding Malaysian limestone quarrying to 92,000 MTPA and processing to 1,08,000 MTPA by FY30.
- Breakthrough Product Platforms: Commercial scaling of TALC HFM 25 SD, White Kaolin Cosmetic Grade, HYPERTHERM UT, and HYDROXYLGEL A1, while developing nano-minerals for EV batteries and renewable energy.
- Construction Chemical Expansion: Joint venture Sievert 20 Microns targets expanding tile adhesive and construction chemical production capacity to 22,500 MTPA by FY29.
- Digital Transformation: Full SAP integration coupled with AI-driven CRM (20MCRM), automated logistics (20MSHP), vendor management (20MSRM), and e-invoicing.
- ESG & Carbon Neutrality: Allocating 15% of CapEx to energy optimization, waste-to-fuel bio-methanation, and targeting a 15% carbon footprint reduction over 3 years.
The Verdict: Strategic Outlook & Conclusion
20 Microns Limited is undergoing a structural shift from a commodity-focused mineral grinding enterprise to an advanced materials, functional additives, and technology-driven solutions provider. Backed by solid balance sheet fundamentals, an expanding portfolio of specialized inputs, and an integrated global processing footprint, the enterprise is well positioned to capture demand across core industrial, consumer, and green technology applications.
Note: Financial ratios, margins, YoY growth percentages, and % revenue shares are calculated by IndianCompanies.in based on disclosed Ind AS financial statements.
Official Site: http://www.20microns.com