We believe that R&D is critical in maintaining our competitive position, addressing changing consumer trends and industry developments, developing innovative processes, undertaking complex chemistries, environmental management and developing costs and operating efficiencies.
We have a dedicated in-house R&D facility located at Sachin Unit – 6, which is equipped with laboratories engaged in process development, process innovation, new chemical screening and engineering that assist us in pursuing efficiencies from the initial conceptualization up to commercialization of a product. The Department of Scientific and Industrial Research has also recognized our in-house R&D facility. In addition, we have a pilot plant at Sachin Unit – 6 that has the capability to support customer needs for pre-commercial production for product development by employing new production technology and performing large number of complex chemical reactions.
Each of our products are subjected to quality check by our in-house R&D team, to ensure that the finished product meets customer standards and other specifications. As of September 30, 2020, we had a dedicated team of over 40 employees in R&D department. We believe that our R&D has and will continue to assist us in developing newer technologies, manufacturing processes and chemistries for existing as well as new products, which will help reduce the cost of production, simplify manufacturing processes to improve safety, reduce environmental load and provide us with other growth opportunities. Our R&D has played a key role in the expansion of our commercialized product portfolio from 25 products in Fiscal 2018 to 34 products in Fiscal 2020 and 36 products in the six months September 30, 2020. Further, we received the ‘Corning Green Innovation Award’ for customer excellence in Advanced-FlowTM Reactor applications development for 2015.