Anupam Rasayan rises on inking LoI worth Rs 743 cr

Anupam Rasayan gained 3.43% to Rs 914.05 after the specialty chemical maker announced that it has signed letter of intent (LoI) worth revenue of Rs 743 crore over next 7 years with a Japanese multinational company.

The scope of the order includes supply of two advance intermediates using fluorination chemistry. These molecules will be manufactured in their existing as well as soon to be commercialised fluorination plants.

The aggregate value of order is approximately $90 million, which equivalents to Rs 743 crore and the supply will commence from FY25.

Anand Desai, managing director of Anupam Rasayan, said Anupam will be the first company in India to manufacture these key molecules within the country, with applications in both the pharmaceutical as well as engineering fluids, the signing of LOI also marks the addition of this new marquee customer.

Our business development team has demonstrated exceptional proficiency in creating opportunities that aligns with our global expansion goals by cultivating strong ties with our Japanese counterparts. This landmark LOI not only expands and diversifies our customer base but also solidifies our position in the Japanese markets as one of the most reliable partners for supplying specialized molecules to global majors.

Anupam Rasayan India is one of the leading companies engaged in the custom synthesis (CSM) 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.

The company's consolidated net profit slipped 57.09% to Rs 18.41 crore on 24.62% decrease in net sales to Rs 295.52 crore in Q3 FY24 over Q3 FY23.

Powered by Capital Market - Live News