Anupam Rasayan gains on bagging two contracts from European Crop Protection Company

Anupam Rasayan India advanced 1.10% to Rs 733 after the company announced the signing of two contracts with one of the leading European crop protection company for supplying two new life science related specialty chemicals.

The company will supply these products for the next three years under the contract. These products will be manufactured in our existing manufacturing facilities.

Anand Desai, managing director of Anupam Rasayan, said, We are pleased to announce that we have signed two contracts with one of our top European customers. These contracts are in line with our strategy of increasing wallet share and deepening relationship with our existing customers. With these additions, the tally of number of molecules with this MNC goes to 6.

These products were conceptualised within 3 months and it took under 18 months from conceptualisation to commercialisation of these products. We were able to deliver these products in such short period on urgent request of our customer.

Moreover, both of these products were being manufactured in Europe. Now the customer has decided to source these products exclusively from Anupam. We are starting to see this trend of India being chosen as preferred manufacturing base for strategical products presently being manufactured in Europe. We are working with few more MNC clients and expect 20 to 25 niche products to be added in Anupam's product portfolio in near term as of part of Europe plus one strategy.

Anupam Rasayan India is one of the leading companies engaged in the custom synthesis and manufacturing of specialty chemicals in India. Its business verticals are life science related specialty chemicals comprising products related to agrochemicals, personal care and pharmaceuticals, and other specialty chemicals, comprising specialty pigment and dyes, and polymer additives.

On a consolidated basis, net profit of Anupam Rasayan India rose 23.57% to Rs 39.69 crore on 31.19% rise in net sales to Rs 306.56 crore in Q1 June 2022 over Q1 June 2021.

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