About Indo Rama Synthetics (India) Limited

Indo Rama Synthetics (India) Limited is one of India’s pioneering polyester manufacturers, incorporated on April 28, 1986. The Company operates an integrated manufacturing complex at Butibori, near Nagpur, producing a full range of polyester products—Polyester Staple Fibre (PSF), Partially Oriented Yarn (POY), Draw Texturised Yarn (DTY), Fully Drawn Yarn (FDY) and Polyester Chips—supported by global technology partners from Japan, Germany and the USA. Its installed capacities include PSF 2,31,000 TPA, Polyester Chips 2,52,000 TPA, PFY 1,89,000 TPA, DTY 1,75,000 TPA, and a captive power plant of 71.08 MW, aggregating to a cumulative capacity of 6,72,000 TPA at Butibori.

The Company’s footprint spans 34 countries across five continents, underpinned by the Indo Rama Group’s presence in markets such as Indonesia, Thailand, the USA, Nepal and Sri Lanka, besides India. Marketing offices are located in Mumbai, Ludhiana, Coimbatore and Panipat, with the corporate office in Gurugram and the registered office and plant at Butibori, Nagpur. The Company has 4 subsidiaries, reflecting its integrated approach to polyester and allied businesses.

Key Milestones of Indo Rama Synthetics (India) Limited

• Commissioning of a 650 tonnes per day bottle-grade PET resin line on June 2, 2023, with ramp-up aimed at meeting domestic demand and diversifying the product portfolio.
• Debottlenecking that increased total daily production capacity from 1,743 TPD to 1,920 TPD, alongside the commissioning of 39 texturised yarn machines to strengthen value-added offerings.
• A strong quality and safety framework, evidenced by certifications such as ISO 9001, ISO 14001, ISO 45001, REACH (SVHC) and OEKO-TEX, supporting consistent, high-quality output across applications from apparel and home textiles to automotive and hygiene.

Indo Rama Synthetics (India) Limited Business Verticals and Geographical Presence 

Product mix contribution to turnover:

• Polyester Staple Fibre (PSF): 38%
• Draw Texturised Yarn (DTY): 26%
• Polyester Filament Yarn (PFY): 12%
• Polyester Chips: 23%

The Company’s footprint spans 34 countries across five continents. The manufacturing complex is at Butibori, Nagpur, with marketing offices in Mumbai, Ludhiana, Coimbatore and Panipat, and the corporate office in Gurugram.

Indo Rama Synthetics (India) Limited Business Segment

The Company manufactures PSF, POY, DTY, FDY and Polyester Chips at its integrated Butibori complex. It also operates a bottle-grade PET resin line commissioned on June 2, 2023. Product mix includes PSF (38%), DTY (26%), PFY (12%) and Polyester Chips (23%). The manufacturing and operating complex is at Butibori, Nagpur, with marketing offices in Mumbai, Ludhiana, Coimbatore and Panipat. The Company serves customers in 34 countries across five continents.

Indo Rama Synthetics (India) Limited Key Management

• Om Prakash Lohia – Chairman and Managing Director
• Vishal Lohia – Whole-time Director
• Sanjay Thapliyal – Whole-time Director (appointed with effect from May 17, 2024)
• Umesh Kumar Agrawal – Chief Commercial and Financial Officer
• Manish Kumar Rai – Company Secretary

Latest Updates on Indo Rama Synthetics (India) Limited

• Capacity expansion and product diversification: The Company has aligned its 650 TPD bottle-grade PET resin line (commissioned on June 2, 2023) with growing domestic demand and commissioned 39 DTY machines to enhance its value-added portfolio; overall daily capacity was ramped up to 1,920 TPD through debottlenecking.
• Governance changes: Appointment of Sanjay Thapliyal as Whole-time Director with effect from May 17, 2024; appointment of Ravi Capoor as Non-Executive Independent Director with effect from June 29, 2024; and resignation of Hemant Balkrishna Bal as Whole-time Director effective May 31, 2024.
• Credit ratings: India Ratings & Research affirmed ratings on working capital facilities at IND A-/Negative and IND A2+ during the year; the term loan rating was withdrawn following “No Dues Certificate” submission to lenders.
• Strategic sourcing: Shareholders approved material related party transactions with Indorama Petrochem Limited, Thailand, for buying PTA up to ₹1,000 crore at the 38th AGM on September 25, 2024; the Board noted specific purchases approved across the year to ensure raw material security.
• Operations and risk: The Butibori complex remains the primary manufacturing location; the Company did not enter derivative contracts for commodity hedging in FY 2024-25, focusing instead on inventory management and vendor development to manage price risk.