HMEL Achieves Record Polymer Sales Amid Robust Expansion

Key Highlights

1. Polymer Prices: HDPE and LLDPE prices in Ahmedabad range from ₹90,020/MT to ₹1,09,520/MT depending on grade and application.
2. HMEL Milestone: Record 2 million tonnes of polymer sold in FY 2024–25, backed by full-scale Bathinda operations and robust logistics.
3. Capacities Expanding: IOCL’s Paradip petrochemical complex will boost India’s polymer output across multiple grades.
4. Outlook Positive: Polymer demand is projected to grow steadily, supported by industrial recovery and government infrastructure projects.

Stable Polymer Prices as HMEL Strengthens Market Presence

• As of April 9, 2025, HMEL's HDPE and LLDPE prices in Ahmedabad are as follows: HDPE Films (Prime) are priced at ₹91,640 per metric tonne, while HDPE IM (Prime) is slightly higher at ₹91,980/MT. 
• HDPE Raffia (Prime) stands at ₹95,320/MT, HDPE PE100 Natural (Prime) at ₹90,020/MT, and HDPE CCM (Prime) is quoted at ₹95,290/MT.
• For LLDPE grades, 2 MFI Non-Slip (Prime) is available at ₹95,690/MT, and 1 MFI Slip (Prime) at ₹94,370/MT. 
• Injection molding grades such as M2024L (Prime) are priced at ₹1,08,280/MT, and M5026L (Prime) at ₹1,09,520/MT. 
• Meanwhile, LLDPE Film (OGLLES - OG) is listed at ₹92,370/MT.

HMEL Achieves 2 Million Tonnes Sales, Driven by Demand & Expansion

• HPCL-Mittal Energy Ltd (HMEL) has demonstrated remarkable strength in India’s petrochemical sector by clocking a record 2 million tonnes of polymer sales in FY 2024–25. 
• This milestone underscores a robust demand environment driven by increased offtake across diverse end-use industries, including automotive, industrial manufacturing, high-performance materials, and niche chemical applications.
• HMEL's performance is particularly noteworthy as it marked its state-of-the-art petrochemical facility's first full operational year in Bathinda, Punjab. The facility boasts a multi-feed cracker with a capacity of 1.2 million tonnes, supplemented by an equal capacity in polyethylene (PE) and 1.0 million tonnes in polypropylene (PP).
• This integrated setup has allowed the company to seamlessly cater to both bulk and niche polymer demands while reducing supply-side friction.
• The company’s $3 billion petrochemical expansion initiative, which significantly augmented its PP and PE capacities, has been instrumental in meeting the rising domestic polymer demand. 
• Moreover, its emphasis on AI-driven logistics, doorstep delivery, and value-added services has further enhanced accessibility and market reach, positioning HMEL as a preferred supplier among processors and converters.
• In terms of supply, HMEL's strategically located 11.3 million tonnes per annum refinery, supported by a 1,017 km long crude pipeline, ensures consistent feedstock availability—an edge that becomes crucial amidst global supply chain volatilities.
• The backward-integrated setup has also helped cushion cost escalations and ensures steady conversion margins, making HMEL's polymer offerings competitive in both pricing and quality.

Global Developments: Key Plants Restarted, Major Investments Ahead

• Yeochun NCC (YNCC) has successfully restarted its No. 2 cracker in Yeosu, South Korea, achieving on-spec production. The facility has an annual production capacity of 591,000 tons of propylene and 915,000 tons of ethylene.
• In India, the Indian Oil Corporation Ltd (IOCL) plans to build a major petrochemical complex in Paradip, Odisha, with an investment of ₹61,077 crore. 
• The project, formalized through an MoU with the Odisha government, will include facilities to produce phenol, polypropylene (PP), isopropyl alcohol (IPA), high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE), polyvinyl chloride (PVC), and butadiene, strengthening the region’s petrochemical infrastructure.
• Meanwhile, Shanghai Golden Phillips has resumed operations at its high-density polyethylene (HDPE) unit in Shanghai after maintenance. 
• The plant has a production capacity of 140,000 tons per year. 
• BASF-YPC has shut down its low-density polyethylene (LDPE) unit in Nanjing, China, for maintenance starting April 8, 2025. The unit has an annual capacity of 220,000 tons.

Market Outlook: Policy Push and Innovation to Fuel Growth

• Going forward, the market anticipates steady growth in polymer consumption supported by industrial revival and policy-driven infrastructure push. With its focus on innovation, tailored customer solutions, and a strong R&D roadmap, HMEL is expected to further strengthen its market share. 
• Industry observers foresee a sustained uptick in demand for both PE and PP in FY 2025–26, with HMEL likely playing a pivotal role in import substitution and supporting the “Make in India” vision.