About De Nora India Limited

De Nora India Limited (DNIL) was incorporated in June 1989 as Titanor Components Limited, commenced business the same year, and adopted its present name on June 27, 2007. The Company is listed on the National Stock Exchange of India Limited (NSE) and operates from its manufacturing facilities in Kundaim, Goa, where it produces and services electrolytic products for industrial applications.

DNIL primarily caters to the chlor-alkali industry, manufacturing and recoating anodes and cathodes used in the electrolytic production of caustic soda and chlorine. Its product portfolio also includes LIDA anodes for cathodic protection, platinized titanium and GREENCHROME anodes for surface finishing, and electrochlorination systems for water disinfection. With the proprietary technologies and global expertise of its ultimate parent, Industrie De Nora S.p.A., Italy, the De Nora group is recognised as a world leader in chlorine and caustic soda technology and is the largest supplier of electrodes to the global electrochemical industry.

In India, DNIL is a leading service provider for anode and cathode elements used in the latest zero-gap membrane cell electrolyzers, offering recoating, mechanical repairs and retrofits that help customers reduce power consumption and improve cell performance. The Company serves customers across India and select international markets, with South East Asia identified as a key expansion region. DNIL confirms that it does not have any material subsidiary, and maintains a policy for determining material subsidiaries on its website.

De Nora India Limited Key Milestones

• Incorporation in 1989 as Titanor Components Limited; business commencement in November 1989
• Name change to De Nora India Limited on June 27, 2007
• Listing on the National Stock Exchange of India Limited
• Expansion of portfolio into cathodic protection, surface finishing and electrochlorination systems
• Strengthening position as a leading supplier and service provider in the chlor-alkali and electrochemical industries

De Nora India Limited Business Segments

• Reportable segment: Electrode Technologies (100% of revenues)
• Geographic revenue mix (FY 2024–25):
  • India: 91.58%
  • Outside India: 8.42%

De Nora India Limited Key Management

• Supriya Banerji – Chairperson & Independent Director
• Vinay Chopra – Managing Director
• Deepak Nagvekar – Chief Financial Officer
• Purushottam S. Mantri – Independent Director
• Lalita Correia Afonso – Independent Director
• Robert Scannell – Non-Executive Director
• Francesco L’Abbate – Non-Executive Director

Latest Updates on De Nora India Limited

Warranty provisioning: DNIL provided for product warranties amounting to ₹1,439.81 lakh during FY 2024–25 as a prudent measure to cover potential future performance-related liabilities.

Shareholder approvals: At the 35th AGM held on September 25, 2024, shareholders approved the re-appointment of Mr. Vinay Chopra as Managing Director and adopted a revised set of Articles of Association.

Related party transactions:

• For FY 2024–25: Approval granted for transactions with Industrie De Nora S.p.A. up to ₹950 lakh.
• For FY 2025–26: DNIL sought approval for transactions of
  • up to ₹1,635 lakh with Industrie De Nora S.p.A. for services, capital goods, software and royalty, and
  • approximately ₹2,000 lakh with De Nora Italy S.r.l. for sale/purchase and repairs.

Audit and governance: The Company received an unmodified (clean) audit opinion for the year ended March 31, 2025, and reported no commodity hedging exposure.

Board and leadership changes:

• Mr. Francesco Labbate, Non-Executive Director, notified his decision not to seek reappointment at the ensuing AGM.
• Company Secretary Mr. Shrikant Pai resigned with effect from May 9, 2025.