The shares of the specialty chemicals manufacturer gained up to 7 percent after the company signed a letter of intent (LOI) with a leading Japanese multinational company worth Rs 743 crore.
With a market capitalization of Rs 10,049.80 crore, the shares of Anupam Rasayan India Ltd were trading at Rs 913.95 per share, increasing around 3.42 percent as compared to the previous closing of Rs 883.75 apiece.
According to the company filing, Anupam Rasayan India Ltd has signed a letter of intent (LOI) with a leading Japanese multinational company to supply two advanced intermediates using fluorination chemistry. The cost of this LoI is Rs 743 crore ($90 million).
Furthermore, 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 the LOI also marks the addition of this new marquee customer.
Looking at the company’s financials, Anupam Rasayan India Ltd’s sales decreased by 24% from Rs 392 crore in Q3FY23 to Rs 296 crore in Q3FY24. During the same time frame, net profit decreased by 52% from Rs 54 crore to Rs 26 crore.
The company serves a varied range of Indian and global clientele. The company presently produces goods for 73 domestic and foreign clients, including 29 multinational firms.
Anupam Rasayan has six production sites in Gujarat, India, with four in Sachin, Surat, and two in Jhaghadia, Bharuch, with a total installed capacity of about 27,000 MT as of December 31, 2023.
In Q3FY24, 6 new molecules were commercialized taking a total to 11 new molecules launched in 9MFY24. Of the total 6 molecules, 4 molecules were from fluorination series, and 2 molecules were from signed LOIs and contracts.
Anupam Rasayan India Limited produces and synthesizes specialist chemicals on a custom basis in India. The company’s segments include Life Science Related Specialty Chemicals and Other Specialty Chemicals. It manufactures a wide range of specialty chemicals for life science applications, such as agrochemicals, personal care products, and pharmaceuticals.
Written by:- Abhishek Singh
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