The shares of this small-cap stock, engaged in the business of manufacturing specialty chemicals gained attention in Friday’s trading session after signing an LOI (Letter of Intent) with USA based Elementium Materials Inc.
Stock Performance
With a market capitalization of Rs 6,991.08 crore, Anupam Rasayan India Ltd retraced from its day low of 600.95 on Friday. The shares made an intraday high at Rs 641.70 per share, marking a 7 percent increase compared to its previous closing price of Rs 628.35 per share.
What Happened
Anupam Rasayan India Ltd has signed a Letter of Intent (LOI) with the US-based Elementium Materials Inc. for the supply of chemicals used in an advanced electrolyte essential for electric vehicle (EV) batteries.
The supply is set to begin by the end of FY26. Upon successful product development, both companies negotiate to finalize a five-year supply agreement, with projected cumulative sales ranging between USD 350-450 million.
Management Commentary
Anand Desai, Managing Director of Anupam Rasayan, said “This LOI with Elementium Materials aligns with our strategy to foray into battery chemicals and directly work with OEMs. This product will play a crucial role in enabling our customer to achieve its mission of manufacturing low-cost and high-performance EV batteries.”
Company Overview
Anupam Rasayan India Ltd specializes in custom synthesis and manufacturing of specialty chemicals across agrochemicals, pharmaceuticals, and personal care. It produces agro intermediates for insecticides, fungicides, and herbicides, along with anti-bacterial and UV protection ingredients for personal care. In pharmaceuticals, it develops intermediates for active ingredients.
Financial Performance
In the latest quarter, Anupam Rasayan reported a 32 percent YoY increase in its revenue from Rs 296 crore to Rs 390 crore. On a quarterly basis however, there was a 33 percent increase from Rs 294 crore in Q2 FY25.
The net profits witnessed a significant 53 percent growth from Rs 26 crore to Rs 54 crore. This was accompanied by a 74 percent QoQ increase in net profits from Rs 31 crore in Q2 FY25.
Written by Shwetha Sairam
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