1. COMPANY OVERVIEW
Auro Impex & Chemicals Limited is a public company listed on NSE SME EMERGE Platform, incorporated on 20th January 1994 as a private company. The registered office of the company is situated at 32, K. L. Saigal Sarani, 740A, Block P, New Alipore, Kolkata 700053, West Bengal, India.
Our Company is specifically engaged into manufacturing of Collecting Electrodes, Discharge Electrodes and other ESP Internal spare parts, for some Original Equipment manufacturers (OEMs) and service providers ranging from sourcing of components, designing, manufacturing, quality testing as per the specifications provided by OEMs and service providers.
Our primary aim is to develop a sustainable organization that remains responsive to our clients priorities, while also creating avenues for growth among our employees, delivering profitable returns to our investors, and making meaningful contributions to the communities in which we operate.
We have created a long running relationship with our clients and have been able to expand our presence in India over the years by manufacturing quality items according to their specifications.
Besides Electrodes and ESP Internal Parts, our company has installed Four S.S Tig Mill to manufacture stainless steel pipelines of various sizes. Hopefully this will help in generating revenue for upcoming years. The company is also engaged in trading activities.
2. INDUSTRY OVERVIEW
I. GLOBAL AIR POLLUTION CONTROL SYSTEMS MARKET
The global air quality control system market was estimated at USD 110.5 billion in 2024, forecasted to rise to USD 116.2 billion in 2025, and reach USD 181 billion by 2034, at a compound annual growth rate (CAGR) of 5.1%.
India ranks as the second-largest market globally in the air pollution control segment, with the market projected to reach $6 billion by 2029.
The awareness regarding the harmful effects of air pollution on human health is rising especially in developing countries. The rising adoption of air quality control systems by small and medium enterprises is proving to be a crucial factor that supports the air quality control system market growth. Increasing
49 stringent norms, policies, and regulations with respect to pollution are encouraging the demand for air quality control systems across various manufacturing industries.
Air quality control systems provide solutions to control and handle gases, air, and contaminants in order to ensure air discharge. For maintaining the quality of air, air quality control systems involve the use of scrubbers, air filters, electrostatic precipitators, and other related products.
Drivers of Growth
- Government regulations & emission standards (e.g., Clean Air Act, EU Industrial Emissions
Directive, tightened NO /SO norms) drive escalating demand for Electrostatic Percipitator (ESP), scrubbers, filters, and monitoring systems.
- Industrialization and urbanization, particularly in Asia-Pacific, fuel adoption in energy, power plants, cement, chemicals, and metal sectors.
- Growing health awareness, rising public concern about pollution and respiratory risks boost indoor/outdoor air quality solutions.
Market Segmentation
- By Product/Technology
Electrostatic precipitators, scrubbers, fabric filters (baghouses), thermal oxidizers, catalytic converters, FGD systems are widely deployed.
- By End-User Applications
Power generation/energy sector leads (40 42%) of consumption, due to flue gas treatment needs.
Heavy industry like cement, metals, petrochemical, and transportation facilities also major adopters.
- By Region
Asia-Pacific, particularly China and India, leads in growth and revenue share (APAC 38 40%) due to urban/industrial expansion.
North America holds strong share (26 38%) backed by early technology adoption and stringent U.S./Canada/Mexico regulations.
Europe contributes 20%+ of the market, driven by robust environmental policies and industrial demand Germany particularly strong.
LAMEA (Latin America, Middle East & Africa) is growing, but more slowly due to infrastructure and investment limitations.
Outlook
The global air pollution control systems market is projected to grow strongly over the coming years, driven by a combination of tightening environmental regulations, rapid industrialization in both developed and emerging economies, and a heightened public focus on health and sustainability.
The global air quality control system market was estimated at USD 110.5 billion in 2024, forecasted to rise to USD 116.2 billion in 2025, and reach USD 181 billion by 2034, at a compound annual growth rate
(CAGR) of 5.1%.
II. GLOBAL ELECTROSTATIC PRECIPITATOR (ESP) MARKET
Electrostatic Precipitator Market was valued USD 8.2 Billion in 2024, forecast to grow to US $11.1 billion by 2033, with a compound annual growth rate (CAGR) of 3.46% during 2025 2033. Electrostatic Precipitator is an air pollution control device that removes particulate matter from exhaust gases by applying a high-voltage electrostatic charge to the particles, which are then attracted to and deposited on charged plates or other collection surfaces.
Regional Insights
- Asia Pacific leads the market, projected to capture nearly 47 48% market share (USD 3.5 3.8 billion in 2024), driven by rapid industrialization in China, India, and Southeast Asia. By 2032, Asia-Pacific market could reach up to USD 6.5 7.1 billion.
- North America is significant U.S. and Canada markets together were ~USD 1.8 2.4 billion in 2023 2024, projected to grow at 5 7% CAGR to USD 2.9 3.8 billion by 2032.
- Europe holds USD 1.7 billion in 2023, expected to grow to USD 2.8 billion by 2033.
- Latin America, Middle East & Africa are smaller but growing: from USD 0.35 0.42 billion in 2023, reaching ~USD 0.57 0.68 billion by 2033.
By application
- Power generation is the largest end-use (27 34% revenue share in 2024), often combined with Flue Gas Desulfurization systems. Growing industries such as power generation, cement, steel, and chemicals along with their increasing particulate emissions create demand for effective particulate control technologies.
- Chemicals & petrochemicals segment alone was USD 2.08 billion in 2024, growing at 6.2% CAGR from 2025 to 2034 as stricter emission controls take hold.
Growth Drivers
Tightening environmental regulations worldwide (e.g. EPA toxics rules in the U.S., Indias national clean-air mandates, Chinas five-year plans) are accelerating ESP adoption across industries.
Industrialization in emerging markets especially in Asia Pacific fueling demand for pollution-control systems in power plants, cement, steel, chemicals.
Technological innovation: AI and IoT for real-time monitoring and predictive maintenance, remote sensing for installations in remote locations, modular designs to reduce footprint and cost.
Applications in carbon capture and biomass energy: ESPs serve as pre-cleansing steps before CO capture or for particulate-prone biomass combustion exhausts.
Electrostatic Precipitator Market Analysis
Based on system, the dry segment is anticipated to grow over USD 12.4 billion by 2032. Increasing demand for systems with highly effective properties at capturing fine particulate matter, including PM2.5 and PM10 to meet stringent environmental regulations is set to influence the system adoption. Their lower operational and maintenance costs along with fewer moving parts, resulting in reduced wear and tear and lower maintenance expenses will complement the business landscape.
Electrostatic Precipitator Industry News
- In February 2025, FLSmidth expanded its network of service centers with a new center in Saudi Arabias Dammam to meet advanced emission control technologies such as electrostatic precipitators. The expansion aims to increase customer proximity and meet the regions more stringent environmental regulations. The Dammam Centre will concentrate on enhancing ESP installations and maintenance for cement and power generation industries, in line with Saudi Arabias sustainability agenda. - In February 2024, Valmet announced to supply of electrostatic precipitators for the recovery boiler at Nordic Papers Backhammar mill in Sweden, with completion expected by the end of 2025. This initiative is part of Nordic Papers efforts to enhance sustainability and competitiveness at the
B?ckhammar mill, which produces unbleached kraft papers mainly for packaging.
Outlook
Electrostatic Precipitator Market was valued USD 8.2 Billion in 2024, forecast to grow to US $11.1 billion by 2033, with a CAGR of 3.46% during 2025 2033.
The global ESP market is solidly growing from around USD 7 8 billion currently to over USD 11 13 billion by early 2030s. Adoption is driven by tightening regulations, industrialization (especially in Asia), and technological innovation including IoT/AI-enhanced systems. Dry ESPs and power generation remain core segments, while APAC dominates market share.
Growing reliance on advanced pollution control technologies to meet stringent environmental standards will drive product demand. This will prompt manufacturers to invest in innovative electrostatic precipitator technologies that fit their sustainability aspirations and operational performance objectives.
3. FINANCIAL AND OPERATIONAL PERFORMANCE:
Your Companys performance for the Financial Year ended on 31st March, 2025, is summarized as under: -
Particulars | Standalone For the Financial Year ended | Consolidated For the Financial Year ended | ||
31st March 2025 | 31st March 2024 | 31st March 2025 | 31st March 2024 | |
( In Lakh) | ( In Lakh) | ( In Lakh) | ( In Lakh) | |
Revenue from Operations | 16,371.97 | 24,344.54 | 26,295.21 | 31,815.51 |
Other Income | 125.21 | 81.79 | 176.23 | 129.99 |
Total Income | 16,497.17 | 24,426.33 | 26,471.44 | 31,945.50 |
Total Expenses | 15,925.34 | 23,604.72 | 25,852.64 | 31,061.48 |
Profit before Tax | 571.83 | 821.61 | 618.80 | 884.02 |
Tax Expenses | 143.93 | 241.09 | 155.82 | 256.94 |
Profit after tax for the year | 427.90 | 580.53 | 462.98 | 627.08 |
Earnings Per Share (Basic) | 3.51 | 4.93 | 3.79 | 5.32 |
Earnings Per Share (Diluted) | 3.51 | 4.93 | 3.79 | 5.32 |
During the year under review, your Company has achieved Standalone Revenue from operations of Rs. 16,371.97 Lakhs in F.Y. 2024-25 compared to Rs. 24,344.54 Lakhs in F.Y. 2023-24 and Operational Profit (PBT) of Rs. 571.83 in F.Y. 2024-25 compared to Rs. 821.61 Lakhs in F.Y. 2023-24. After deduction of all expenses, the company has earned Net Profit after Tax of Rs. 427.90 Lakhs in F.Y. 2024-25 compared to Rs. 580.53 Lakhs in F.Y. 2023-24. Your Company has achieved Consolidated Revenue from operations of Rs. 26,295.21 Lakhs in F.Y. 2024-25 compared to Rs. 31,815.51 Lakhs in F.Y. 2023-24 and Operational Profit (PBT) of Rs. 618.80 Lakhs in F.Y. 2024-25 compared to Rs. 884.02 Lakhs in F.Y. 2023-24. After deduction of all expenses, the company has earned Net Profit after Tax of Rs. 462.98 Lakhs in F.Y. 2024-25 compared to Rs. 627.08 Lakhs in F.Y. 2023-24. The Company has installed Four S. S. Tig Mill for manufacturing of Stainless-Steel Pipe, having production capacity of 350 ton per month. Hopefully this will help in generating revenue for upcoming year. The company will have good sales visibility due to setting up of the new plant and the Board of Directors are hopeful to reap more profits in the coming years as well.
4. HR AND INDUSTRIAL RELATIONS
The Company is committed to ensuring that all employees are treated with dignity and respect. It takes utmost care of its people and provides them with the best working facilities equipped with modern technologies. Auro aims to build a safe environment to work in and ensure a sense of belongingness, where employees feel heard. As of March 31, 2025, the Company had a workforce of 55 employees and around 80 contract our manufacturing facility. The number of contract labour varies from time to time based on the nature and extent of work involved in our on-going projects.
5. OPPORTUNITIES AND STRENGTH
- Consistent focus on High Standard of Quality
- Experienced Promoter and strong senior management team with extensive knowledge of the sector - Established distribution network and long-term relationship with our customers - Operational Excellence
6. THREATS AND RISK
- General economic and business conditions in the markets in which we operate and in the local & regional economies - Changes in laws and regulations that apply to the industries in which we operate - The performance of the financial markets in India and globally
7. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
Taking into account the size and nature of the business, the Company has established a robust internal control mechanism. This framework entails rigorous procedures, systems, policies, and processes to uphold the accuracy of financial reporting, safeguard assets, optimise resource utilisation, and ensure compliance with statutory regulations. Quarterly internal audits are conducted to oversee operations, with observations and recommendations scrutinised by the Audit Committee, which implements necessary corrective actions. To maintain the effectiveness of internal control systems, the Audit Committee maintains ongoing communication with both statutory and internal auditors.
8. KEY FINANCIAL RATIOS
Description | 31.03.2025 | 31.03.2024 |
Current Ratio | 1.74 | 2.13 |
Debt Equity Ratio | 1.06 | 0.81 |
Debt Service Coverage Ratio | 2.28 | 2.95 |
Return on Equity Ratio | 0.10 | 0.16 |
Inventory Turnover Ratio | 5.72 | 9.47 |
Trade Receivable Turnover Ratio | 7.46 | 17.00 |
Trade Payable Turnover Ratio | 34.03 | 75.24 |
Net Capital Turnover Ratio | 5.12 | 10.86 |
Net Profit Ratio | 0.03 | 0.02 |
Return on Capital Employed | 0.09 | 0.16 |
Interest Coverage Ratio | 3.9 | 4.52 |
Return on Investment | - | - |
Return on Net Worth* | 0.10 | 0.16 |
*Return on Net Worth decline due to decrease in profits and Revenue from operations.
9. FORWARD-LOOKING STATEMENT
The statements made in the Management Discussion and Analysis describing the Companys objectives, projections, estimates, and expectations may be forward-looking statements within the meaning of applicable securities laws & regulations. Actual results could differ from those expressed or implied.
Important factors that could make a difference to the Companys operations include economic conditions affecting demand, supply, and price conditions in the domestic & overseas markets in which the Company operates, changes in Government regulations, tax laws & other statutes, and other incidental factors.
On behalf of the Board of Directors of Auro Impex & Chemicals Limited
Sd/- | Sd/- |
MADHUSUDAN GOENKA | PRAVEEN KUMAR GOENKA |
Managing Director | Whole Time Director |
DIN: 00146365 | DIN: 00156943 |
Dated: - 21.08.2025 | |
Place: - Kolkata |
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