Waldies Reports Stellar H1 2024 Results, Anticipates INR 370 Crores in FY2024 Revenue, Completes 165th Year of Operation, Growth At 90% YoY

In a snapshot:

  • Massive Revenue Growth: Waldies smashes previous records with INR 177 crores in revenue during H1 FY2024, surpassing the entire FY2023 figure.
  • The revenue boost owes to the reported growth in SBU- Energy
  • Supplier of Choice: Becoming Exide Industries Limited’s primary supplier for Oxides underscores Waldies’ industry leadership.
  • Global Expansion: Waldies gears up to take on major institutions in Europe, Africa, and South America, solidifying its global presence.
  • Company Completes 165 Years In Operation

Kolkata (West Bengal) [India], November 28: Waldies Compound Limited, a leading player in the specialty chemicals sector, proudly announces an outstanding performance in the first two quarters of fiscal year 2024, achieving unprecedented milestones and projecting substantial growth.

The company reported an impressive INR 177 crores in revenue for H1 2024, surpassing its entire FY2023 revenue of INR 196 crores. This achievement marks an exceptional 85% to 90% Year-on- Year growth, showcasing the company’s resilience and strategic prowess in a highly competitive market.

Operating across three SBUs—Energy, PVC & Rubber, and Paints—Waldies achieved significant success in the Energy sector during H1 2024. The company is on track to meet its ambitious mission of a 20% CAGR for the fiscal year.

The strategic expansion of the product portfolio within the PVC SBU positions Waldies for further growth and collaboration with industry giants.

Waldies is strategically positioning itself for international success, targeting major revenue contributions from Europe, Africa, and South America in the second half of FY2024. With a projected revenue of INR 350 crores for FY2024, the company is poised to elevate its global reputation.

Deepak Ojha, Managing Director & CEO, Waldies Compound Limited, expressed gratitude to the Board of Directors, stating, “This remarkable performance wouldn’t have been possible without the unwavering trust and support of our esteemed Board of Directors. We are poised to set a new industry benchmark by projecting revenues exceeding INR 350 crores for FY2024, a substantial leap from INR 196 crores in FY2023.

Waldies anticipates a 90% growth in revenue for H2 2024, maintaining a stable EBIT and PAT.

The company’s commitment to operational efficiency and quality control ensures a positive trajectory in the highly competitive specialty chemicals sector.

Waldies continues to set the industry standard for excellence, innovation, and strategic growth. The company’s exceptional performance in H1 2024 reinforces its position as a formidable force in the specialty chemicals landscape.

Waldies Compound Limited is excited to announce its participation in the upcoming Plastivision 2023, a premier international plastic convention. By showcasing our innovative products and solutions at this esteemed event, we anticipate a significant revenue boost for our PVC segment in the Q4 of this fiscal. This participation aligns with our commitment to industry leadership and continuous growth.


Particulars FY2024 FY2023
Revenue in H1 INR 177.14 crores INR 85.84 crores
Revenue in H2 INR 200.00 crores (projected) INR 110.10 crores
Total INR 377 crores (projected) INR 196.00 crores



Waldies is one of the oldest manufacturers of specialty chemicals that deals with B2b companies at large. The company produces PVC Stabilizers, Additives, Red Lead Oxide, Calcium & Zinc related performance chemicals for Wires, Cables, Pipes, Floorings, Ceramics and Battery industries. The company boasts of its clientele with mega conglomerates as Exide Industries & Havells India Ltd.

Waldies was founded in the year 1858 by Scottish chemist Dr. David Waldie in Calcutta.

It produces varied range of chemicals that are used in ceramics, batteries, PVC, rubber, explosives and etc.

Waldies has pioneered in the manufacturing of PVC Stabilizers over the years ever since the company first produced it in the early 20th century.

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