Gem Aromatics is a leading Indian manufacturer of specialty ingredients, including essential oils, aroma chemicals, and Value-Added Derivatives, with a strong legacy of over two decades. The company offers a diverse portfolio of 70 products across four primary categories: mint and mint derivatives, clove and clove derivatives, phenol, and other synthetic and natural ingredients. Its products are widely used across various industries, such as oral care, cosmetics, pharmaceuticals, nutraceuticals, and personal care.

Gem Aromatics holds a dominant market position in India, particularly for products derived from mint, clove, and eucalyptus oils. In FY 2025, the company was one of the largest procurers of Piperita oil and a leading processor of DMO, Clove oil, Eugenol, and Eucalyptus Oil by volume. It also held significant market shares in DMO (12%) and Eugenol (65%). The company’s success is bolstered by its advanced in-house manufacturing and R&D capabilities, including expertise in complex chemistries and green chemistry principles. This focus on innovation and quality has earned Gem Aromatics long-standing relationships with prominent domestic and global customers like Colgate-Palmolive, Dabur, Patanjali, and dōTERRA.

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• A deep-rooted presence and dominant market share: The Company is an established manufacturer of specialty ingredients, including essential oils and their derivatives, with over two decades of industry experience and a dominant market presence in India.
• A diversified product portfolio and commitment to innovation: Gem Aromatics offers a wide and diverse portfolio of 70 products across four key categories, supported by continuous product innovation and robust in-house R&D capabilities.
• Strong, long-term customer relationships: It has built strong, long-standing relationships with well-known domestic and global customers like Colgate-Palmolive and Dabur, establishing its reputation and reliability in the market.
• Strategic location for operational efficiency: The Company’s manufacturing facilities are strategically located, with one in the heart of India’s mint cultivation belt and another near a major port to optimize export and reduce raw material costs.

The Company GEM AROMATICS IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

• Repayment /pre-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and its subsidiary, Krystal Ingredients Private Limited (₹ 140 Cr.)
• General corporate purposes.

At the upper band of IPO ₹ 325, the stock is valued at 31.8 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.