Dolphin Inks targets 600-tonne monthly capacity with Badlapur plant expansion

The narrative of Dolphin Inks is not merely one of manufacturing but of a visionary gamble that predated modern environmental mandates by four decades. Founded 42 years ago by Kumar Deshpande and Harjit Talwar, two IIT and IIM Calcutta alumni, the company was born from a desire to introduce water-based technology to an Indian market that was, at the time, entirely wedded to solvent-based chemistry.

The choice of the name Dolphin was a deliberate nod to the eco-friendly, green nature of the aquatic mammal, mirroring the company’s mission to provide sustainable alternatives in a high-pollution sector. When the founders first introduced water-based inks, the domestic infrastructure was largely incompatible with the technology. There were no machines suited for the medium, necessitating a collaborative effort with equipment manufacturers and early-adopting end-users to build an ecosystem from the ground up. Today, that persistence has positioned Dolphin Inks as a dominant force in the aqueous segment, operating from its parent plant in Nashik and an expanding facility in Badlapur.

The company’s portfolio has evolved from its initial niche in pharmaceutical coding inks to becoming a backbone for the booming eCommerce and food service sectors. Corrugated boxes remain the largest segment for the firm, but the recent nationwide ban on single-use plastics has triggered a surge in demand for paper bags and paper cups. This shift has turned food wrappers for global giants like McDonald’s, KFC, and Subway into a critical business line. These applications require rigorous compliance, as the inks must meet stringent migration and food-safety certifications for both domestic use and export to European markets.

Currently producing approximately 400-tonnes of finished ink per month, Dolphin Inks services a vast network of over 1500 customers. Talwar emphasises that the company’s unique selling proposition lies in its deep-rooted expertise in customisation. Because paper properties such as absorption and colour vary wildly, and machine speeds range from manual setups to CI flexo presses, almost every ink supplied is tailor-made. To manage this complexity, the company utilises an ERP system where formulations are indexed by specific four or five-digit codes, ensuring consistency for clients while maintaining a technical back-end that accounts for the specific machinery and substrate in use.

To bolster its service capabilities, Dolphin has established 30 channel partners across India and a series of regional blending centres. These centres allow for local support and final-stage formulation, bringing technical expertise closer to the printer's floor. Looking ahead, the company is preparing for a significant capacity hike, aiming to add another 200-tonnes to its monthly output at the Badlapur site. This expansion is part of a broader strategy of backward integration, where Dolphin plans to manufacture its own resins and additives to better control costs and innovation cycles.

However, the path forward is not without its hurdles. The industry is currently grappling with a 20% to 25% escalation in costs due to global supply chain disruptions affecting basic polymers and monomers. Furthermore, Talwar points to a significant talent gap in the printing and packaging sector. He observes that while the industry offers viable opportunities, it struggles to attract young professionals from tier-I cities, with most fresh talent emerging from tier-II and tier-III towns. Despite these macroeconomic and demographic challenges, Dolphin Inks remains focused on the Make in India initiative, aiming to reduce dependency on imported intermediates and solidify its leadership in the flexible packaging and high-end coating segments over the next decade.