The stocks of Anupam Rasayan India Limited opened their trading hour today at Rs 1,123.90 and currently trade at Rs 1,090, up 0.35 percent as compared to the previous closing levels of Rs 1,085.50. In the last six months, the scrip has gained more than 50 percent ranging from Rs 713.05 to the current price levels.
The company, in a regulatory filing published with the BSE yesterday, informed that it has received a Letter of Intent (LoI) worth Rs 2,186 crores ($265 Million) from a leading speciality chemical company based in Japan. The tenor for the same is fixed to be five years.
“We are pleased to announce that we will be the primary global supplier of this new age patented life science active ingredient to one of the leading Japanese speciality chemical companies with the support of our Japanese business development team. With the addition of this new customer, we are delighted to include another renowned Japanese multinational in our customer portfolio.
As we are fully backward integrated for this molecule, we can provide supply chain assurance to the customer without dependencies on supplies from other geographies.” Mr. Anand Desai, MD of Anupam Rasayan, commented on the contract.
The consolidated financial results for FY22-23 showcase an operating revenue of Rs 1,601 crores, as compared to Rs 1,066 crores of revenues in the previous financial year. Moreover, the net profit numbers, keeping the timeframe the same, moved up from Rs 151 crores during FY21-22 to Rs 215 crores in FY22-23.
In recent years, the company has been successful in reducing its debt-to-equity ratio from 0.46 times during FY21-22 to 0.33 times in FY22-23.
The latest shareholding data exhibits the Promoters holding a 60.81 percent stake, and Foreign Institutional Investors (FIIs) holding a 8.52 percent stake in the company.
Anupam Rasayan India Limited is involved in the process of custom synthesis as well as the manufacturing of speciality chemicals. Its business verticals include science-related speciality chemicals which comprise products that are related to personal care & pharmaceuticals, agrochemicals, and other chemicals including dyes, speciality pigments, etc.
Written by Amit Madnani
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