Anupam Rasayan India jumped 2.73% after the company signed letter of intent (LoI) worth revenue of $120 million or Rs 984 crore for next 6 years with Japanese chemical company to supply advance intermediate for life science active ingredient.
The product will be manufactured at company's existing as well as upcoming multipurpose manufacturing facilities.Anand Desai, managing director of Anupam Rasayan, said, "We will be primary supplier globally for this new age high value advance intermediate to the Japanese customer. Sales realisation for this molecule will be one of the highest for the company. This molecule is based on fluorination chemistry which further validates our strategy of expansion in fluorination. This product is being manufactured for the first time in India and it is in line with the government's make in India policy. This LOI demonstrates our technical capability to work on niche molecule along with Japanese customers and strengthens our revenue growth visibility in the coming years."
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 rose 13.2% to Rs 42.91 crore on 43.8% jump in revenue from operations to Rs 382.75 crore in Q3 FY23 over Q3 FY22.
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