What does Vadilal Chemicals Limited do?

Vadilal Chemicals Limited is a Ahmedabad-based public limited company engaged in the manufacture and supply of industrial gases and chemicals. It is described as a leading player in the industrial gases business and is registered with RoC Ahmedabad under CIN L24231GJ1991PLC015390. It was incorporated in 1991.

Is Vadilal Chemicals related to Vadilal Industries (ice cream)?

Vadilal Chemicals Limited shares the Vadilal name with the well-known Vadilal Group, which is famous for its ice cream brand (Vadilal Industries Limited, listed on BSE/NSE). While they may share group connections, Vadilal Chemicals operates as a separate legal entity focused on industrial gases and chemicals, distinct from the ice cream and food business of Vadilal Industries.

When was Vadilal Chemicals Limited incorporated?

Vadilal Chemicals Limited was incorporated in 1991 and is registered at the Registrar of Companies, Ahmedabad, Gujarat. Its CIN is L24231GJ1991PLC015390.

Is Vadilal Chemicals Limited listed on a stock exchange?

Vadilal Chemicals Limited is currently classified as an unlisted public limited company. It does not appear to be actively traded on BSE or NSE, and no ISIN has been publicly confirmed.

How do I buy Vadilal Chemicals unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Vadilal Chemicals?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Vadilal Chemicals shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Vadilal Chemicals Unlisted Share Price | Buy Vadilal Chemicals Pre-IPO Shares — wisefolio

Investment Thesis

Ahmedabad-based industrial and specialty gas manufacturer (est. 1991) linked to the prestigious Vadilal Group (Gandhi family, est. 1907). Produces commercial, ultra-purity, high-purity and calibration gases. Revenue ~₹71 Cr FY2022 with PBT ₹4.51 Cr and surging operating cash flow ₹7.24 Cr in FY2024. Separated from listed Vadilal Industries since 2009–10; remains a Gandhi family entity. 52 employees. Unlisted. Genuine operating gas business with improving profitability. March 2025 family settlement is a watch point for governance stability.

Pros

Revenue ~₹71 Cr FY2022; PBT ₹4.51 Cr FY2024 — profitable operating business
Operating cash flow ₹7.24 Cr FY2024 (up from ₹0.52 Cr FY2023) — strong cash generation improvement
Gandhi family (Vadilal Group, est. 1907) — 30+ years in gas industry; strong brand equity
52 employees; established industrial gas business with Ahmedabad base
Independent of listed Vadilal Industries (divested in 2009–10) — clean structure

Cons

Unlisted public company — no exchange price discovery
FY2024 full revenue not publicly disclosed (last confirmed: ₹71 Cr FY2022)
March 2025 Vadilal promoter family pact (internal dispute resolution) may affect governance

Business Segments

Industrial and specialty gas manufacturing — commercial grade, ultra-purity, high-purity gases

Industrial gas mixtures and calibration gases

Specialty gases for industrial applications

Revenue Model

Revenue generated from manufacturing and selling industrial gases and chemicals to B2B customers in sectors including pharmaceuticals, food processing, steel, automotive, and general manufacturing. Industrial gas companies typically earn through cylinder deposits, gas supply contracts, and on-site gas plant agreements.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds6

Growth Plans

India's growing manufacturing sector and PLI schemes driving demand for industrial gases across electronics, pharma, and automotive sectors

Potential group synergies with the broader Vadilal Group's food business creating captive demand for food-grade gases like CO2

Industry Tailwinds

India's growing manufacturing sector and PLI schemes driving demand for industrial gases across electronics, pharma, and automotive sectors

Recent Developments

FY2024: PBT ₹4.51 Cr (up from ₹4.25 Cr FY2023); operating cash flow ₹7.24 Cr (14x improvement vs FY2023)

52 employees (October 2024); Ahmedabad HQ at Ambli Bopal Road

29 March 2025 — Vadilal promoter family signed Memorandum of Family Arrangement — internal dispute resolution; potential governance implications for VCL

Comparable Companies

CompanyTypeTickerMkt Cap

Linde India LimitedPE: 70xxListedLINDEINDIA55000 Cr

INOX Air ProductsPE: 40xxListedINOXAP18000 Cr

Vadilal IndustriesPE: 25xxListedVADILALIND2500 Cr

Linde India LimitedListed

Frequently Asked Questions

About Vadilal Chemicals

Vadilal Chemicals Limited is a Gujarat-based chemical company incorporated on 11 April 1991 under CIN L24231GJ1991PLC015390. The company is registered at 201, 2nd Floor, Puniska House, Next to One 42, Opp. Jayantilal Park BRTS Bus Stop, Ambli Bopal Road, Ahmedabad, Gujarat — 380058. Vadilal Chemicals operates in the manufacture of chemical substances used in the pharmaceutical and related industries. As per its MCA classification, the company is involved in the manufacture of antibiotics, endocrine products, basic vitamins, opium derivatives, sulpha drugs, serums and plasmas, salicylic acid and its derivatives, glycosides and vegetable alkaloids, chemically pure sugars, and related compounds. This places it in the specialty and pharmaceutical-grade chemicals segment. The company is part of the broader Vadilal group ecosystem, which is primarily known for its flagship ice cream and food products business (Vadilal Industries Limited). However, Vadilal Chemicals is a distinct legal entity focused on chemical manufacturing rather than food products. For the financial year ending March 31, 2023, Vadilal Chemicals' operating revenue was in the INR 1 Crore to 100 Crore range. EBITDA increased by 20.34% over the previous year, indicating improving operational efficiency and profitability at the operating level. Gujarat's chemical industry is one of the largest in India, with the state accounting for nearly 40% of India's total chemical production. Companies operating in Gujarat benefit from well-developed industrial clusters, port access, and a strong supply chain ecosystem for chemical raw materials. Vadilal Chemicals, as an Ahmedabad-based entity, can tap into this industrial infrastructure. The pharmaceutical chemicals sub-sector is particularly attractive given India's position as the 'Pharmacy of the World' — a major exporter of generic drugs globally. Demand for pharmaceutical-grade and specialty chemical intermediates remains strong, driven by domestic API manufacturing and API export growth. As an unlisted company with limited public disclosure, detailed revenue and profit figures are not publicly available beyond the ranges disclosed via corporate registry platforms. Investors should conduct thorough due diligence via MCA filings before considering any investment in the company's unlisted shares.

Key Milestones

Common questions about unlisted shares

How do I buy Vadilal Chemicals unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

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