🧪 OCCL Ltd – India’s Sulphur Sultan or Just Another Chemical Reaction?
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At a Glance
OCCL Ltd manufactures insoluble sulphur, a sticky little compound with a big role in tyre rubber. Freshly listed in 2024, the company boasts solid Q-o-Q growth, healthy margins, and a juicy anti-dumping trigger on Chinese imports. But with a P/E of 31x and debt ticking up, is this a specialty gem or a temporary tyre grip?
1. 🚀 Introduction – New IPO, Old Business, Massive Trigger
Listed in 2024, OCCL is a spin-off from Oriental Carbon & Chemicals Ltd (that legacy sulphur biz).
Core focus? Insoluble Sulphur – a critical input in radial tyres and high-performance rubber.
Stock is already up 2x from its ₹63.6 lows. Current market cap: ₹664 Cr.
🔥 June 2025: Anti-dumping duties imposed on imports from China and Japan = direct demand boost for OCCL.
2. 🏭 WTF Do They Even Do?
🧪 Insoluble Sulphur (IS): Used in tyre manufacturing (mainly radial tyres).
🧫 Sulphuric Acid + Oleum: Co-products that ride on IS production.
🛞 Customers: Tyre giants like MRF, Apollo, CEAT, JK Tyre, plus exports.
🏗️ Facilities: Manufacturing plant with capacity of 22,000+ MTPA in Gujarat.
💡 Think of them as the MSG to Michelin. Tiny input, huge performance.
