Our Business Model

Financial Capital

We ensure prudent financial management practices and leverage our cash generating business model to strengthen balance sheet position and sustain business growth.

  • Cash and cash equivalents: ₹ 2,975 crore ()
  • Networth: ₹ 15,143 crore ()
  • Capital employed: ₹ 25,418 crore ()

Manufactured Capital

We invest in new capacities and maintaining existing ones to manufacture quality products and in building inbound/outbound logistics to ensure efficient supply chain. These investments also help manage our environmental footprint.

  • Capex incurred: ₹ 1,242 crore ()

Intellectual Capital

We are strengthening our competitive edge by making sustained R&D investments at our innovation centres, collaborating with scientific institutes and investing in digital technologies to enhance operational efficiency.

  • Investment in R&D (including Rallis): ₹ 70 crore ()
  • Technically skilled people in R&D: 220 ()

Human Capital

We provide training and skills to create a pool of high performing, innovative people with diverse skillset to operate business efficiently. We also undertake initiatives around inclusivity, safety and leadership development.

  • Training days per employee: 2.25 man-days ()
  • Leadership training provided: 270+ man-days ()
  • Safety training per employee: 0.95 man-days ()

Social and Relationship Capital

We integrate the needs of our stakeholders (customers, suppliers, contractors, community) and invest in various welfare initiatives, processes and technologies to strengthen relations and build trust.

  • CSR spending* (standalone) – ₹ 21 crore ()

Natural Capital

We sustainably use resources and actively invest in sustainable technologies to promote circular economy and reduce our environment footprint.

  • Resources used:
    Trona 46,05,233 MT ()
    Solar Salt 24,02,580 MT ()
    Limestone 18,88,378 MT ()

*Higher than our 2% commitment

() Increase (over past financial year)

() Decrease (over past financial year)

Basic Chemistry Products

Performance Materials

  • Soda Ash
  • Sodium Bicarbonate (Industrial)

Nutrition Sciences

  • Salt
  • Sodium Bicarbonate (Food, Feed, Pharma)

Agri Sciences

Specialty Products

  • Silica
  • Prebiotics (FOS / GOS)
  • Formulations
  • Active Ingredients (AI)
  • Agri Formulations
  • Seeds

Technology (R&D)



Sustainability and good health for a better tomorrow

Listening and Engagement Process

  • Emergent Needs
  • Buying Patterns
  • VoC
  • KAM
  • Customer Complaint Management
  • CSAT
  • Inputs to SPP / LTSP
  • Opportunities for New Product Development/Variants
  • Innovation opportunities in Customer/Operating Processes
Refer page 50-58

to view the detailed value chain for each business

We produce a wide range of bulk and value-added products including Soda Ash, Sodium Bicarbonate, Salt, Specialty Silica, Prebiotics, Crop Care (Rallis), Seeds (Rallis)

Sales volume of key products are as follows:

Soda Ash


Sodium Bicarbonate




Financial Capital

  • Proposed Dividend: ₹ 10 per share ()
  • Cash generated from operations: ₹ 2,037 crore ()
  • EBITDA: ₹ 1,501 crore ()
  • EBITDA/Revenue from operations: 15% ()
  • Strengthened balance sheet as gross debt : equity improved to 0.46 ()
  • Net debt to EBITDA at 2.6 ()

Manufactured Capital

  • Enhancement in manufactured assets and capex progressing well
  • Prebiotics plant at Nellore stabilised
  • Decline in sale of Soda Ash to 3,023 KT
  • Increase in sale of Sodium Bicarbonate to 221 KT; Salt to 1,581 KT

Intellectual Capital

  • Robust new product launches and registrations
  • Enhancement in intellectual property
  • Total No. of Patents filed: 163

Human Capital

  • High employee productivity, job satisfaction, engagement and retention
  • Total Recordable Injury Frequency Rate decreased to 1.46 from 1.69
  • Zero incident of labour unrest

Social and Relationship Capital

  • CSR beneficiaries: 2 lakh beneficiaries (increase from 1.5 lakh)
  • High customer satisfaction index
  • Multiple new customers added
  • Support to all stakeholders during COVID-19 pandemic
  • Enhancement in global supply chain network

Natural Capital

  • No serious environmental incidents or material impact to biodiversity / habitats
  • Responsible manufacturing index (global) changed from 0.31 to -0.08 and for Indian operations changed from 1.29 to 2.82.
  • Operations changed from 1.29 to 2.82
  • Reduction in CO2 emission (4.48 to 4.13 million MT)
  • Reduction in fresh water withdrawal (27,728 to 26,143 Megalitres)
  • Sustainable use of resources
  • Positive outcome
  • Negative outcome
  • Neutral outcome