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Saturday, December 28, 2013

Jayant Agro: Bio-based Polyamides: India, the assured raw material supplier

Link to the original article in Business Standard (Link)
Jayant Agro Organics
CMP: 71.50
Market Cap: 107.18cr
With demand for bio-based polyamides (PA) increasing, can India emerge as a reliable global supplier of castor oil, the key raw material to make this eco-friendly polymer?

Polyamides (nylons), the widely used engineering and high performance plastics, find applications in various industries such as automotive, consumer goods, electrical & electronics (E&E), engineering parts, housings, building & construction, packaging, sporting goods, etc. Increase in environment awareness has led to rise in interest to develop polyamides (PAs) using renewable feedstocks in recent times. 
Green benefits are not the only reasons for wide acceptance of bio-based PA. In fact, some experts claim that bio-based PA can offer better performance than the conventional made engineering thermoplastics (ETPs).

Most of these bio-based PAs are made from sebacic acid which is derived from castor oils. For example, DSM uses renewable feedstock that is based on castor oil to make EcoPaXX – a bio-based PA which it launched in 2009 to meet increasing market demand for high performance durable bio-based engineering plastics. “EcoPaXX is a material belonging to a completely different group of bio-polymers: the bio engineering plastics. EcoPaXX has, next to its bio-based character, also a set of excellent properties which makes it suitable for high demanding applications in automotive and E&E,” said Kees Tintel, Business Manager EcoPaXX, DSM Engineering Plastics International B.V.
Some of the other castor-based PA producers include Rhodia (Technyl eXten, PA 6,10); BASF (Ultramid Balance, a PA 6,10), Arkema (Rilsan, PA 11), DuPont (Zytel PA10 and PA 6,10), etc. "Bio-based polyamides 11 and 10 (that Arkema produces) have very high properties that meet perfectly these requirements, bringing savings and supporting the environmental policies and that, supported by a global manufacturing, R&D and commercial coverage," informed Lionel Guerdoux, Vice President Technical Polymers Business Unit, Arkema.
Demand drivers

The global market for bio-based polyamides is experiencing strong growth rate (about 15% per year) supported by the need of technology, the cost reduction, the environmental policies, and the emerging countries, said Guerdoux. He added, “For instance, automotive manufacturers require high resistant materials (to the heat or to chemical corrosion of new generations of fuel) for tubing applications in the engine compartment. As for any other high performances polyamide, performances, quality and savings are expected. The other specific drivers remain a way to minimise the environmental impact (by decreasing the greenhouse gas emissions) and the consumption in fossil resources.”

(Picture:Arkema's Lionel Guerdoux)
 In recent time there has been an increased focus on manufacturing PA using castor oil route, since it offers various advantages over the other bio-based feedstocks. Castor plant is non-edible crop, requires very few pesticide (as the castor plant is indigenous to tropical regions, drought tolerant, naturally resistant to pests and disease), grown on poor soil in semi-arid areas (as compared to corn or soy), requires less water, etc. Another feature of castor oil is: though the demand is increasing it is less sensitive to speculation as it is considered to be a specialty oil and not as competitive as corn for bio fuels. “This last point addresses another driver which is the stability and the visibility of the raw materials and the safety of the supply on a mid and long-term basis,” observed Guerdoux.
India: Securing supplies
With rise in demand for bio-based PA, manufacturers are strategising to secure supply of raw material – ie castor oil. India, world’s leading exporter of castor oil, has emerged as one of the reliable suppliers to plastic makers in the last years. “For EcoPaXX, castor oil is indeed the raw material, and yes, it comes from India,” said a DSM official. 
As a result, a few PA manufacturers are eyeing to tie-up with castor oil suppliers in India for long-term benefits. Take the example of Arkema, which in April 2013 signed an agreement to acquire about 25% stake in Ihsedu Agrochem - a subsidiary of Jayant Agro, one of India’s leading manufacturers of castor oil and castor based derivatives. “The rationale behind this move is for Arkema to secure our supply of castor oil over the long term from a reliable and competitive source, Ihsedu Agrochem, subsidiary of Jayant Agro, being the leader in this market,” opined Guerdoux.
This partnership is viewed as a critical step to consolidate Arkema’s leading position in bio-sourced specialty polyamides. It is expected to spur growth of Arkema’s long chain polyamides 10 and 11 more specifically in the applications such as offshore flexible pipes or light materials for automotive.
Not just supplier, but innovator? 
Demand for more renewable and bio-based solutions is increasing with rise in population and consumption growth, climate change and energy & resource security. To meet this requirement, companies will have to investment in sustainable and bio-based products and production processes. This is expected to drive the bio-based PA industry to next level.
“Regarding market demand for this group of bio-based materials: overall we see a growing market demand, which is positively influenced by upcoming regulations in, for example, building and construction, automotive and E&E. However, at this moment in time EcoPaXX is often selected as the material of choice, firstly on the basis of its excellent properties, and secondly on the basis of its green character. We see a growing demand especially in Europe, USA and Japan, while China and India are lagging behind,” added Tintel.
Though the consumption of bio-based polymers in India is still at nascent stage, things are looking bright as MNCs are looking to develop applications for bio-based PA to meet domestic requirements.  
In May this year, DSM India Pvt Ltd, a subsidiary of Royal DSM, signed a Memorandum of Understanding (MoU) with the Vadodara-based Electrical Research & Development Association (ERDA), covering basic research in the field of electrical applications. The MoU covers various activities intended to help develop new eco-friendly sustainable engineering plastic solutions for the electrical industry. “Presently, DSM Engineering Plastics focus for bio-based materials is mainly on automotive, building and construction, sports, film and fibers. Our program for bio-based applications in cooperation with ERDA still has to be determined,” said Tintel. Applications for bio-based PA in E&E application are likely to be explored through this collaborative effort. 
So, do not be surprised if next time you hear new applications using bio-based PA from India, as MNCs are looking at the country not just to source the raw material (castor oil), but also to develop new applications. 

This is the last and final call for getting on the Jayant Agro Bandwagon.. Jayant stock is available at below its 5yrs EMA which stands at Rs95.14.. current stock price is 33% below its 5 yrs Exponential Moving Average(EMA)..

I must confess my holding of Jayant Agro stock is at a higher price than current market price of 71.50
Jayant Agro Organics is a multibagger of a stock no doubt about it..

=happy investing

Friday, November 01, 2013

Jayant Agro: Plant based Polyurethane opens up the future of Japanese Auto Manufacturing

Jayant Agro recently signed a JV Agreement with Mitsui chemicals to produce Plant (Castor oil) based Polyols.. Vithal Castor Polyols (Jayant: 50%, Mitsui Chemicals:40%, ITOH oil - 10%) in India. 
with this JV Mitsui chemical stated plant based polyols will be price competitive with crude oil based polyols

here is an interesting article which talks about Plant based Polyols and  their future

First in the Industry: Plant-Based Polyurethane opens up the Future of Japanese Auto Manufacturing

“Chemical engineering” is not well known by the public.
However, it is one of the most important and competitive industries Japan can be proud of.
It gives birth to materials used for various products.The Japanese auto industry is ranked at the top of the world.Many automobile parts to build vehicles are made from such materials brought forth by chemical engineering.  

As in many other industries, this industry is required to be designed more environmentally conscious in the future.The plant based polyurethane developed by Mitsui Chemicals Inc. with the collaboration with Toyota Motor Corporation and Toyota Boushoku Corporation is gathering the attention of the world.

 Among the manufacturing industries, chemical engineering might be an unfamiliar area for liberal arts students. When considering chemical engineering as a whole, its products can widely range from the production material itself to the processed goods. There are many more examples that the industry is not at the forefront of attention but in fact, the chemical power is in such a place.

According to the Japan Standard Industry Classification (JSIC), “chemical engineering” is categorized as “the establishments whose production process is mainly the chemical treatment and the compounded material obtained by those chemical processes or the final processing establishments that are not classified in other categories.”  Among all the industries, cost of all the shipments and added value of chemical engineering are the third largest next to transportation equipment and general machinery. (Industrial Statistics Survey, 2007) It could be said that the chemical engineering is one of the key and core industry in Japan.

Besides Mitsui Chemicals, as for your information, enterprises such as Mitsubishi Chemical Holdings, Sumitomo Chemicals, Asahi Kasei, Showa Denko, Shin-Etsu Chemical, and Tosoh earn the top sales in Japan.

In worldwide, the shipping volume of Japanese chemical engineering is the fourth place following the U.S., China and Germany (2007). According to the manufacturers, Mitsubishi Chemical Holdings, Mitsui Chemicals and Sumitomo Chemical are among the top 20.

Each company has its own area of specialty. Mitsui Chemicals, focus of this article, has three operational headquarters: 
Functional Materials OHQ that produces and sells mainly automotive and industrial materials, coating and functional materials, life and energy materials, and electron and IT materials; 

Advanced Chemical Materials OHQ that produces and sells fine chemicals and agrochemicals, and

Basic Chemicals OHQ that produces and sells petrochemical feedstock, phenol and synthetic fiber feedstock.  They produce many and variety of products.

These materials and products leveraged chemicals have advanced significantly over time. Let’s take the automobile parts as a simple example. It is said that if you disassemble a car made by some manufactures, more than 70% of its parts are supplied by Mitsui Chemicals.  It is rare the power of chemicals gets the spotlight but it is crucial, and expected to play even larger role in the future from the viewpoint of meeting the demand for weight savings and environment consciousness.

Environment related issues are now unavoidable, and global action is required to deal with the reductions of green house effect and carbon dioxide emissions. To address those issues, Mitsui Chemicals, as a material manufacturer, tackled the challenges with extremely high level difficulty – the development of the environmental-responsive products for the car interior materials which satisfy the Japanese auto manufacturers whose demand the highest level of performance in the world – using polyurethanes based upon the concept of the carbon neutral by the utilization of the non-edible plant based material.

As a result of joint development among Mitsui Chemicals, Toyota Boushoku and Toyota Motors, the first car seat cushions made from the plant-based polyurethane were commercialized in 2009.  These seat cushions are adopted in the environment-responsive concept cars, new Toyota Prius and Lexus HS250h. The molecularly designed bio-polyol was developed based on the castor-oil origin ricinus that will not compete against food resources in order to express the functions demanded for the car seat cushions.  Fifteen per cent of the polyurethane materials are made by this bio-polyol instead of traditional 100% petroleum-based. This technology is surpassing greatly the content rate of the plant based material and in performance beyond other plant-based polyurethane for car seat cushions being developed by other companies both in Japan and overseas.

The extension of the utilization of this environment-responsive product is setting out, too. At present, it is used only for the surfaces of the seat but the possibilities of utilization of this material for the other interior parts, and the increased content rate without impairing quality while reducing the environmental burden, has been reviewed actively.

On the other hand, it is noted that the functions demanded for the materials for today’s automobile are: “environment-responsive” and “comfort.”   The correspondence to the “environment-responsive” includes the reduction of the carbon dioxide emissions by the usage of plant-based material, and “weight savings” by the decreased consumption of energy while running.  To address the “comfort” aspect, the expanded inside spaces by thinning are a prime example. In the future, it is expected that it can be used for the parts that did not use polyurethane while shifting toward the hybrid and electric vehicles.  Mitsui Chemicals will keep researching and developing such polyurethanes based on those key words, commercializing and introducing to the market with customers, and aiming to establish the status of a dominating presence in the world.

The polyurethane business of Mitsui Chemicals is not for the domestic market only. It is rather rare for a material manufacturer in the area of automobile interior to break into the foreign markets independently. Parts manufacturers and material manufacturers usually build the factories overseas when Japanese auto manufacturers such as Toyota, Nissan and Honda establish staging points there. By doing so, it becomes possible to ensure the same quality as made in Japan.  Mitsui Chemicals built several staging points in primary areas in Asia where they supply polyurethane materials to the customers’ factories on the spot.  Furthermore, it has built and strengthened the technical support networks.

Because of the global trend of moving out from the fossil energy dependence and focus on the environment-responsiveness, Japanese auto industry is facing a critical and important turning point.

In such circumstance, can Mitsui Chemicals explore with the plant-based car seat cushions development and can act as a detonator for the Japanese auto industry?

The fate of a chemical engineering manufacturer depends on whether it can succeed in business development responsive to the markets which require high quality and low costs as the environmental related demands increase.

Because now is the time a big paradigm shift is required, it might be the time for Mitsui Chemicals and Japanese chemical technologies to demonstrate the strength.

Fueled by a solar battery, an engine powered by a motor with parts and interior that are plant-based, more than 90% of the parts are recyclable… such automobile could be developed in near future.

Jayant Agro Organics:
Current Market Price: 77.80
Market Cap: 118Cr (1,180 Million INR(Indian Rupees))

7 yrs 600% increase in Net Profit and 400% increase in sales
Consolidated Sales/NP numbers.Indian Rupees (INR)
March 2007 Sales 462.49Cr  Net Profit: 6.76Cr  
March 2008 Sales 605.96Cr  Net Profit: 9.51Cr
March 2009 Sales 875.86Cr Net Profit 7.49Cr 
March 2010 Sales 904.01Cr Net Profit: 12.47Cr
March 2011 Sales 1,175.26Cr Net Profit: 24.92Cr
March 2012 Sales 1,832.26Cr Net Profit: 31.35Cr 
March 2013 Sales 1,624Cr Net Profit: 36.24Cr
Current Market cap of Jayant agro is less than 1/12 its Annual sales which means you can buy 100% stake in Jayant Agro and its subsidiaries for a price equal to one month sales of Jayant Agro

Jayant Agro is a Govt recognized Star Trading House, other Star Trading House (companies with similar export numbers..) L&T, M&M, Sesa Goa, Ipca Labs, Balkrishna Industries, Bayer Cropscience, Hindustan Levers, HCC, Ruchi Soya .. all these listed companies are quoting at a Market Cap atleast 10 times Jayant agro's Market Cap..

Jayant Agro is also a Govt of India recognized , Dept of Science and Technology:- Research Oriented company. Jayant Promoters Udeshi's also hold US patent for efficient production of Sebacic acid and its salts US Patent no: 6392074

Promoter stake in Jayant is at  64.79% in 2012 promoters spent 10Cr (100 Million INR) to buy a 4.99% stake from the open market (Buy price: 130 per share)

Consistent dividend paying company since inception and with increasing dividends 
2009: 1.25 
2010: 1.50 
2011: 1.75 
2012: 2.00 
2013: 2.25 

Only 5198 shareholders (Sept 2013) closely held company available at a price which is below its 5 yrs EMA(Exponential moving average) high probability of special dividend (due to stake sale to Arkema) and bonus (Authorized capital increased to 42Cr when issued capital is just 7.5Cr Link)

Jayant due to market conditions and poor results for Sept 2013 is available at a deep discount to its intrinsic share value.. Due to the fact that castor oil and its derivatives are established Green chemicals and its a sunrise industry the long term future is very bright for Jayant Agro. 

Current Price(78.5) is very good price to buy as Jayant is available below its 5yrs EMA .. 

PN: This information is based on publicly available data.. please do your own deep dive before investing.

Friday, October 18, 2013

Shale Gas Production on Downhill Slope..

Shale Gas revolution started in Barnett Shale... 2005 was the first year when Horizontal drilling wells formed majority of wells being drilled in Barnett Shale..

There are indicators of production.. 
1. No of Active wells
2. No of new well permits
3. Actual Production figures

No of Active wells in Barnett Shale:

No of new well permits:

Actual Production Figures

The drop in drilling permits is an early indicator of the subsequent drop in production rates of Shale Gas..
So looks like the wells are at the max productive for 6yrs or so.. 

As per the article I am referencing.. "David Hughes has made a detailed study of the Barnett Shale and the report includes activities up until May 2012. For individual wells the production in newly drilled wells falls by 61% in the first year and this fact and the fact that production continues to decline thereafter means that every year 1507 new wells must be drilled to maintain a constant level of total production. The fact that they drilled 840 new wells in 2012 should mean therefore that production will decline in 2013."

So Shale Gas is a short term boost and its coming to an end.. maybe another couple of years or so we will start seeing drop in Shale Gas production in US.. (my personal opinion)

David Hughes - PCI - Energy Sustainability Dilemma - Cornell 5-2-12

Conclusion: What ever people say.. its important to be ready for an "energy deficient future" plan your investments and your lifestyle accordingly.. Its important to be aligned to agro based investments (GAEL, Jayant Agro).. energy efficient investments (NHPC, Tata Comm). 
Save energy should be the underlying theme.

Thursday, October 17, 2013

Jayant Agro: Quarter Ending Sept 2013: Estimated Sales/Profit Numbers

This is the first time I have complete FOB (Freight on Board) export data for 3 months for Jayant as well as Ihsedu Agro Chem..  
I have hidden some data like actual shipping data (Source/destination Port, date etc..) to prevent misuse of data.. 
The FOB and DBK+STR (DBK: Duty Draw back, STR: Sales Tax Refund) numbers are actual figures..

Ihsedu Agro Chem, Export (FOB: Freight on Board) data

July 2013: 116.00Cr 
August 2013: 73.01Cr
Sept 2013: 102.14Cr

Ihsedu Agro Chem Total FOB Export Value for Quarter July-Aug-Sept 2013: 291.15Cr
DBK+STR = 5.31Cr

Jayant Agro Organics, Export (FOB Freight on Board) data:
July 2013:   21.81Cr + 21.49Cr  = 43.30Cr
August 2013: 20.86Cr+ 18.51Cr = 39.37Cr
Sept 2013:  16.64Cr + 19.27Cr  = 35.92Cr

Total FOB Export data for Jayant Agro Organics is: 118.60Cr
Consolidated Sales: 118.60+291.15 = 409.75Cr
As per Annual Report 2013
FOB Export data: 1288.44Cr
Total Revenues from Operations: 1621.00
Domestic sales: 332.56Cr = 27.71Cr/Month
Assumed similar domestic sales numbers for July-Aug-Sept 2013= 27.71 x 3 = 83.14Cr
Projected Q2 Quarter ending Sept 2013 Data:

Expected Consolidated Sales data for Quarter ending Sept 2013: 409.75+83.14 = 492.89Cr

PBDIT for Quarter Ending Sept 2013: 30.00Cr 
(6.00% PBDIT Margin- Annual Report March 2013)

Net Profit for Quarter Ending Sept 2013: 10.99Cr  
(2.23% Net Profit Margin- Annual Report March 2013)
Estimated/Projected Consolidated Quarterly Numbers for Jayant Agro Organics:
Sales: 492.89Cr
PBDIT: 30.00Cr
Net Profit: 10.99Cr

So there we have it.. according to my calculations at a consolidated level Jayant should report for Quarter ending Sept 2013: 492.89Cr of Sales and 10.99Cr of Net Profit.

In addition to the projected sales and net profit figures for Jayant Agro.. Jayant agro has also reported a sale of 24.9% stake sale in Ihsedu agro Chem to Arkema for 30Cr.. Ihsedu Agro Chem has also reported a special dividend distribution to Jayant Agro worth 15Cr  (Link)

Dividend distribution is taxed at Ihsedu Agro Chem level and when Jayant distributes it again it is not taxed again .. so it makes sense for Jayant to distribute it to its shareholders.. As per my understanding we could see the 15Cr dividend passed on to shareholders of Jayant agro.. 

Jayant Agro has an equity base of 7.5Cr so 15Cr translates to a Dividend of Rs 10 per share (Face value :Rs5)..

So this Quarterly results announcement on Oct 29 2013.. could also include a "One Time/Exceptional" dividend payout of Rs10/= per share to shareholders of Jayant Agro Organics..

Please Note: This is information based on publicly available information.. and my personal assumptions Please do your own deep dive before investing. This information does not recommend you to buy or sell.. please talk to your investment advisor with regards to investment in stocks..

(Sept 2013 Ihsedu AgroChem FOB Data)
(Sept 2013 Ihsedu AgroChem )
(Aug 2013 Ihsedu Agro Chem)
(Aug 2013 Ihsedu Agro Chem)
(July 2013 Ihsedu Agro Chem)

(July 2013 Ihsedu Agro Chem)

(Sept-2013 Jayant Agro FOB Data)
Sept 2013 - Jayant Agro FOB Data

(Aug 2013 - Jayant Agro FOB Data)
(Aug 2013 - Jayant Agro FOB Data)
(July 2013 - Jayant Agro FOB Data)

(July 2013 - Jayant Agro FOB Data)

Wednesday, October 02, 2013

Book Review: Arjuna Saga of a Pandava Warrior Prince -By:- Anuja Chandramouli

Arjuna the warrior prince needs no introduction.. the plot is well known and every Indian has heard and read stories from Mahabharata.

Book: Arjuna - Saga of a Pandava Warrior Prince
Publisher: Leadstart Publishing www.leadstartcorp.com
Price: 250 INR, 10 USD

the Book : "Arjuna-Saga of Pandava Warrior Prince" is the story of Mahabharata retold. There are number of details which make the book an interesting read, some excerpts from the book..

The first time the Mahabharat was told by Ved Vyasa when great grandson of Arjuna - Janamejaya performed the Sarpasatra yagna to avenge his father's (Parikshit) death.

Dronacharya acquired all the great weapons of great warrior Parashurama as a gift from Parashurama.

Drona gave precise orders to servants: "make sure that Arjuna never eats in the dark. A lamp must always remain lighted for him when he takes the evening meal"  .....Then in a moment of insight Arjuna realized that with similar practice his skill as an archer can be improved a 100 fold and he would not have to rely on his eyes to find his mark.

Kunti said to Surya  'O Lord let our son be born with the celestial armour and ear rings unique to his father so that I will always be able to recognize him as mine'

Sage Narada said to the Pandavas....'Wise men always learn from the lessons history has to offer. It would be prudent to have some ground rules where Draupadi is concerned so that you can avoid quarreling with each other over her'

On being rejected Apsara Urvashi cursed Arjuna to be a Eunuch

Arjuna is given the Bow Gandeeva by Varuna the God of Wind.

Duryodhana's wife Bhanumati suggested we play a game of dice (to Karna) to while away the time.. I had gained an upper hand and became excited by the thrill of it. Suddenly Bhanumati interrupted our game.. I tugged at her waistband to detain her and the delicate garment, embroidered with pearls, ripped, scattering precious gems all over the floor, just as Duryodhana stepped in..Struggling to find words to express... and to somehow apologise for my indelicacy.. Duryodhana pre-empted me and said that those he loved would never do anything to breach the trust ..

Duryodhana remembered that the preceptor of the Asuras, Shukracharya, possessed knowledge of the secret craft of Sanjivani which could bring  the dead back to life.. Duryodhana decided that if he could somehow acquire knowledge of that esoteric craft, he would be able to revive everyone he had loved and lost...

- Arjuna's Story
- Early Days
- Mentor Extraordinaire
- The Honour Student
- The Tournament
- Sworn Rival
- Arjuna Wins A Bride
- Serpent Princess
- The Abduction That Saved The Lineage
- Feeding Agni
- Arjuna's Quest For Celestial Weapons
- Brihannala, The Eunuch
- Arjuna's Charioteer
- Death Of A Hero
- Arjuna Avenges His Son's Martyrdom
- The Possessed & The Pledged
- Kurukshetra
- Duel Unto Death
- Midnight Massacre
- Restitution
- The Final Journey

The great war of Kurukshetra is well documented in this book with the tide turning in favour of one party to the other as the war progressed . The storyteller gives a clear indication that as in life.. things are not always in Black and White but shades of grey.. Pandavas and the Kauravas both are driven into action by feelings of fear, greed and anger..

Indian mythlogical tales impart values of Indian culture, convey subtle facts, rules and maxims to guide our daily lives..  Arjuna compel's the reader to understand that life is a complex bundle of action and its consequences.. and importance of clarity of thought and action, to lead a purposeful life

Tuesday, September 24, 2013

Investing Fundas: How The Economy Works

Ray Dalio's explanation is very simple.. 
It say's the same thing except for a very important point (According to me)
Dalio ji says that.. as Debt cycle goes down.. "Credit" reduces.. and its quite possible that the rate of "Credit reduction is so fast that .. it will result in Deflation and economic downturn..

The key it seems is to strike a balance.. Rate of "Credit Reduction" should be balanced by "monetary printing" so that the economy (which consist of credit + printed money) does not contract too fast else.. the asset prices will fall too fast.

Best to see the video.. Really good !!

=happy investing!!

Tuesday, September 10, 2013

Jayant Agro: New Joint Venture in India for Bio-Polyol (Jayant Agro,Mitsui Chemicals and Itoh Oil)

Sep 09, 2013 --Mitsui Chemicals, Inc. Itoh Oil Chemical Co., Ltd. Jayant agro Organics.

Mitsui Chemicals, Inc. (Toshikazu Tanaka, President & CEO) and Itoh Oil Chemical Co., Ltd. (Masatsugu Akita, President) announced the signing of a joint venture agreement on August 29th with India's Jayant Agro-Organics Ltd.(Abhay V. Udeshi, Chairman)for the establishment of the company in India to produce "bio-polyol", the main raw materials of which are non-edible plant derived fatty acid.

Signing Ceremony at Yokkaichi, Japan --from left to right : Mr. Hiroyasu Ishimaru of Mitsui Chemicals, Inc., Japan,

Mr. Abhay V. Udeshi of Jayant Agro-Organics Ltd., India and

Mr. Masatsugu Akita of Itoh Oil Chemical Co., Ltd., Japan

Mitsui Chemicals manufactures and distributes polyurethane raw materials for various applications including that of insulation application for refrigerators. The Company is the largest supplier of polyurethane raw materials for automotive interior to Japanese manufacturers and is the world's only commercial supplier of non-edible plant derived bio-polyol. The joint venture will make "bio-polyol" cost competitive with fossil derived polyol, allowing Mitsui Chemicals to target further expansion of automotive application sales on its own and through its six system houses strategically located throughout Asia. (refer to note)

Itoh Oil Chemical is Japan's leader in castor oil production with state-of-the-art refineries, manufacturing technology, and quality control expertise in castor oil derivatives such as fatty acids. The Company targets use of other by-products, co-produced in the manufacture of bio-polyol, in development of new applications to expand its castor oil derivative market and intensify existing businesses such as its urethane elastomer operations.

Jayant Agro-Organics is the world's leading producer of castor oil. Through supply of raw materials derived from castor oil to the new joint venture, the Company targets development of new business in the castor oil derivatives sector to further strengthen its position in the castor business.

The partnership of the three companies who bring their own unique strengths to the table in India, where 80% of the world's castor oil are produced, will establish a stable supply base for overwhelmingly cost competitive bio-polyol.

Note: System House: Strategic production and distribution sites where manufacturing formulas are meticulously adjusted to meet individual customer needs in polyurethane foam materials including bio-polyol.

Outline of Joint Venture
1. Company name: Vithal Castor Polyols Pvt. Ltd.
2. Business area: Manufacture of bio-polyol
3. Location: Gujarat, India
4. Investment ratio (based on voting rights): JAO 50%, Mitsui Chemicals 40%, Itoh Oil Chemical 10%
5. Production capacity: Bio-polyol 8,000 tons/year
6. Schedule (tentative) Establishment: September 2013
7. Commercial operation: January 2015

Link to original article

Jayant Agro Organics: corporate announcement with regards to JV

Jayant Agro is ultra cheap.. what is the cost of buying 100% stake in Jayant Agro: 19.35 Million US Dollars!! And now foreigners can directly purchase stock in Indian market without going through intermediaries like mutual funds!! Must buy Jayant agro Organics Stock with a bright future in Sunrise industry "Green Chemicals"

Jayant Agro Organics (Blog Archives)

Here are some examples of Polyols:








Monday, September 09, 2013

Sinead O Connor: I Do Not Want What I Haven't Got!!

There is not much to say except that Sinead O Connor's is a must listen!!

Song: Feel So Different!!

Lyrics: Feel So Different!!

God grant me the serenity to accept the things I can not change
Courage to change the things I can
And the wisdom to know the difference

I am not like I was before
I thought that nothing would change me
I was not listening anymore
Still you continued to affect me

I was not thinking anymore
Although I said I still was
I'd said "I don't want anymore"
Because of bad experience

But now I feel so different
I feel so different
I feel so different

I have not seen freedom before
And I did not expect to
Don't let me forget now I'm here
Help me to help you to behold you

I started off with many friends
And we spent a long time talking
I thought they meant every word they said
But like everyone else they were stalling

And now they seem so different
They seem so different
They seem so different

I should have hatred for you
But I do not have any
And I have always loved you
Oh you have taught me plenty

The whole time I'd never seen
All you had spread before me
The whole time I'd never seen
All I'd need was inside me

Now I feel so different
I feel so different
I feel so different

I feel so different
I feel so different

"I do not want what I haven't got"  was the album which according to the press made Sinead a rock star!! with the world wide chart topping single "Nothing Compares 2U"

Song: Nothing compares 2U 

Lyrics: Nothing compares 2U (original song by Prince)

It's been seven hours and fifteen days
Since you took your love away
I go out every night and sleep all day
Since you took your love away
Since you been gone I can do whatever I want
I can see whomever I choose
I can eat my dinner in a fancy restaurant
But nothing
I said nothing can take away these blues
`Cause nothing compares
Nothing compares to you

It's been so lonely without you here
Like a bird without a song
Nothing can stop these lonely tears from falling
Tell me baby where did I go wrong
I could put my arms around every boy I see

But they'd only remind me of you
I went to the doctor n'guess what he told me
Guess what he told me
He said girl u better try to have fun
No matter what you'll do
But he's a fool
`Cause nothing compares
Nothing compares to you

all the flowers that you planted, mama
In the back yard
All died when you went away
I know that living with you baby was sometimes hard
But I'm willing to give it another try
Nothing compares
Nothing compares to you
Nothing compares
Nothing compares to you
Nothing compares
Nothing compares to you