Vipul Organics, a specialist in specialty chemicals, announced a significant development on Monday, securing a substantial contract valued at Rs 7.15 crore from Tamil Nadu Newsprint and Paper Ltd (TNPL) for the supply of blue and violet pigment dyes.
Vipul Organics Ltd. is a leading manufacturer and exporter of specialty chemicals and intermediates. With a strong focus on research and development, the company has developed a wide range of products for various industries, including pharmaceuticals, agrochemicals, and pigments. Vipul Organics is known for its commitment to quality, innovation, and customer satisfaction.
Tamil Nadu Newsprint and Paper Ltd. (TNPL) is a leading producer of printing and writing paper, newsprint, and packaging board. Founded in 1979, TNPL has grown to become one of the largest paper manufacturers in India, with a strong focus on sustainability and environmental conservation. The company’s products are known for their high quality and are used in various industries, including publishing, packaging, and printing.
This contract marks a notable expansion for Vipul Organics into the paper dye segment. This strategic move into paper dyes commenced in 2022 after a dedicated 18-month period of intensive product research and development. Expressing enthusiasm about this achievement, Vipul Organics’ Executive Director, Mihir V Shah, highlighted the company’s rapid emergence as the preferred supplier of colorants to the paper industry within just two years.
He emphasized the company’s commitment to delivering innovative, high-quality products that cater to the industry’s needs. Shah further revealed that Vipul Organics is poised to achieve a revenue target of Rs 50 crore from this sector over the next three years. The company’s success in this endeavor has been bolstered by a strong reception to its offerings within the paper industry, evident from its active participation and positive feedback at various B2B industry shows.
“We are actively converting our trial orders into full-fledged contracts,” Shah stated, underscoring the company’s proactive approach in leveraging market opportunities. The paper sector in India is witnessing significant growth in the dyes and pigments segment, driven by the expansion of packaging and printing industries. This trend bodes well for Vipul Organics as it continues to solidify its position as a key player in the industry.