Astral Limited, through its wholly owned subsidiary Astral Chemie Limited (formerly Astral Coatings Private Limited), has entered into definitive agreements to acquire a 60% partnership interest in Differentiated and Sustainable Solutions LLP for an aggregate consideration of Rs 39.11 crore.
DSS is a limited liability partnership incorporated on December 28, 2015, with manufacturing operations in Bharuch, Gujarat. DSS develops and manufactures specialty chemicals and advanced materials for electronics, aerospace, renewable energy and infrastructure sectors. The product portfolio includes specialty polyamines, curing agents for thermosets, high-purity bismaleimides and benzoxazines, and systems for adhesives, coatings, composites, and electrical and electronic applications.
DSS reported a turnover of Rs 1.44 crore in FY 2024, Rs 6.41 crore in FY 2025, and Rs 3.21 crore in FY 2026 (unaudited), with an annual production capacity of 5,200 metric tonnes. India imports most of its requirements for polyamines, bismaleimides and benzoxazines, and DSS is the only domestic entity with the technology to produce a broad range of these specialty chemicals.
The consideration is payable in cash, and the transaction is expected to close on or before August 31, 2026, subject to satisfaction of conditions precedent. Upon completion, DSS will become a subsidiary of ACL and a step-down subsidiary of Astral Limited.
The acquisition is aimed at backward integration in key raw materials and strengthening Astral's capabilities in specialty chemistries. DSS's technology platform and product approvals with major Indian customers, along with export opportunities in the US, EU and Japan, are expected to complement Astral's existing adhesives, construction chemicals and paints businesses.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.