In 2021, Prabh Das, managing director and chief executive officer of HPCL–Mittal Energy Limited (HMEL), post a discussion with the Board, decided to foray into the market with polyethylene and newer grades of polyethylene. Was the decision of HMEL right, wondered Das. His concern stemmed from the fact that the plan of diversification into polyolefins and go-to-market was different from their core competencies. The case focusses on an understanding of why and how a business-to-business firm should diversify, and the criteria on the basis of which such decisions are taken. The case also offers an opportunity to assess how other decisions related to diversification can impact the success of the project.