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Company Overview
Panama Petrochem Limited is an Indian manufacturer and exporter of specialty petroleum products used across industrial, pharmaceutical, cosmetic, textile, rubber, electrical and other applications. The company was incorporated on 9 March 1982 as Panama Petrochem Private Limited and was converted into a public limited company under the name Panama Petrochem Limited on 6 December 1993. Its registered office is at Plot No. 3303, G.I.D.C. Estate, Ankleshwar, Gujarat 393002, India. A separate corporate headquarters designation is not officially disclosed.
Panama Petrochem is listed on both the BSE and NSE. Its latest official annual-report and investor disclosures identify the company's reporting business as speciality petroleum products.
Products and Business Activities
The company manufactures specialty petroleum products marketed under the PANOL brand. Its product portfolio includes white oils/liquid paraffin, petroleum jelly, transformer oils, ink and coating oils, rubber process oils, textile oils, industrial oils and greases, automotive lubricants, drilling fluids, waxes and cable compounds.
White oils are manufactured in pharmaceutical, cosmetic and technical grades and are used in applications including personal-care products, pharmaceuticals, food processing, plastics and rubber. The company's petroleum jelly products are used as bases in pharmaceutical, cosmetic, personal-care and veterinary applications.
Its industrial portfolio includes hydraulic oils, gear oils, compressor oils, turbine oils, metal-working fluids, marine oils, automotive engine oils, transmission fluids, thermic fluids and industrial and automotive greases. The company also manufactures transformer oils conforming to standards including IS 335, IEC 296, IEC 60296 and BS 148.
Business Model and Customers
Panama Petrochem's business model is based on the manufacture and sale of specialty petroleum products for industrial and commercial customers. The company states that it develops customized products according to customer specifications and supplies products in packaging and bulk formats including drums, IBCs, flexi-bags and ISO tanks.
Its products serve industries including printing inks and coatings, resins, textiles, rubber, pharmaceuticals, cosmetics, power and cables, as well as engineering and other industrial applications. Its target customers are therefore primarily business and industrial users rather than retail consumers.
Manufacturing, R&D and Geographic Presence
The company operates four manufacturing facilities in India, located at Ankleshwar, Daman, Taloja and Dahej. Its Ankleshwar facility includes an in-house research and development centre recognized by the Department of Scientific and Industrial Research (DSIR). The company states that its R&D activities support development of new and value-added petroleum products.
Panama Petrochem also has a wholly owned subsidiary, Panol Industries RMC FZE, based in Ras Al Khaimah, United Arab Emirates. The subsidiary was established to support the company's activities in the GCC and MENA regions. The FY2024-25 annual report confirms Panama Petrochem's 100% ownership of the subsidiary.
The company exports products to international markets including the United States, United Kingdom, Europe, Middle East, Australia, the African subcontinent and Southeast Asia, according to its official website.
Mission, Vision and Values
Panama Petrochem's official website publishes a vision of becoming a global name in the petrochemical industry, with emphasis on quality management, continuous improvement and teamwork. Its stated mission is to deliver products and services with commitments to safety, sustainability and innovation while emphasizing integrity, continuous improvement, stakeholder value and environmental responsibility. The company's published values are Excellence, Innovation, Integrity and Teamwork.
Certifications and Recognitions
The company's official credentials page lists Star Export House status, FDA registration, Halal registration, ISO 9001:2008 certification and ISO 14001:2004 certification. Its official history records Star Export House recognition in 2006 and DSIR recognition of its R&D facility in 2010.
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