Hindcon Chemicals

MaterialsKolkata, IndiaFounded 1998· One of 988 Materials companies tracked by AMPulse

Manufactures sodium silicates, construction chemicals, and cement additives for construction and industrial applications.

CEO / Founder: Sanjay Goenka
Team Size: 51-200
Stage: Active
Latest Round: IPO

Technology & Products

Key Products

Sodium silicates, construction chemicals, and cement additives including waterproofing compounds, concrete & mortar admixtures, concreting aid, protective coating & sheeting, and grouts.

Technological Advantage

Proprietary chemical formulations for construction chemicals and sodium silicates, ISO 9001:2015 certified, IGBC Green Product certified products, fully-equipped laboratory meeting BIS standards.

Differentiation

Value Proposition

Provides high-quality, environmentally friendly chemical solutions for construction, including sodium silicates, cement additives, and waterproofing products.

How They Differentiate

Focuses on sodium silicates and construction chemicals with IGBC Green Product certified offerings, ISO certifications, and over 25 years of experience in the Indian market.

Market & Competition

Target Customers

Construction companies, industrial manufacturers, and infrastructure projects requiring construction chemicals and cement additives.

Industry Verticals

Construction; Infrastructure; Industrial Manufacturing

Competitors

ACC Limited, Ambuja Cements Limited, Asian Paints, Pidilite Industries

Growth & Milestones

Growth Metrics

Revenue of ₹65.02 Cr in FY2026 (up from ₹56.59 Cr in FY2025); Market cap of ₹108 Cr (approx $13M) as of June 2026; Net profit ₹3.08 Cr in FY2026; Sales growth of 7.99% over past five years.

Major Milestones

Founded in 1998; Listed on NSE Emerge in 2018; Migrated to NSE Main Board on July 5, 2021; Received Zee Business Dare to Dream Award 2018; National Award 2010 for Outstanding Efforts in Entrepreneurship in MSEs

Notable Customers

Jaiprakash Associates Limited; Bengal Traders Private Limited; Gammon India Limited; H.C.C Ltd.; Dinesh Chandra R Agrawal Infracon Pvt Ltd; Larsen & Toubro Limited; BGR Energy Systems Ltd.; Ashwin International Pvt Ltd; Chetak Enterprises Ltd; SSNR Projects Private Limited

https://www.hindcon.com

Why this company matters

HINDCON occupies a niche position as a chemical supplier focused on additives for 3D-printed concrete, differentiating itself from broad-line construction chemical makers such as ACC Limited and Pidilite Industries. Founded in 1998 and listed on the NSE, the company has shifted its product development toward formulations that support binder jetting of ceramics and composites for large-scale construction.

The company's core products include sodium silicates, waterproofing compounds, concrete admixtures, protective coatings, and grouts. Its proprietary chemical additives are designed to improve the workability, strength, and durability of 3D-printed concrete, with the stated goal of reducing material waste and enabling faster construction cycles. HINDCON also emphasizes formulations that allow hybrid additive-subtractive manufacturing workflows on construction sites.

Target customers include construction firms, industrial manufacturers, and infrastructure project developers. Named clients include Larsen & Toubro Limited, Jaiprakash Associates Limited, Gammon India Limited, and HCC Ltd. The company has participated in the European Commission's H2020 program alongside Fraunhofer IPA and SINTEF, focused on 3D printing in construction.

HINDCON's strategic moat lies in its tailored chemical IP for concrete 3D printing, but the company faces risk from larger cement and chemical players that may develop competing additive-specific formulations. Its revenue of approximately $6.8M in FY2025 and 5.13% five-year sales growth suggest steady but modest scale in a nascent market segment.