Anupam Rasayan has signed a Letter of Intent (LoI) worth $46 million (Rs 380 crore) with one of the leading American multinational companies to supply new-age speciality chemical advance intermediate for the next five years. This product will be manufactured in our upcoming multipurpose manufacturing facilities.
This molecule is an advanced intermediate to be used as a key building block for manufacturing high-end engineering fluids and also in active pharmaceutical ingredients (API).
The company expects its share of revenues from the US to increase significantly in the coming years. This product is being manufactured for the first time in India.
“Have established a new relationship with an American MNC customer by signing a long-term LoI to supply a niche fluorinated molecule on an exclusive basis,” said Anand Desai, Managing Director of Anupam Rasayan.
Anupam Rasayan India Ltd (ARIL) is one of the leading companies engaged in the custom synthesis (CSM) and manufacturing of speciality chemicals in India.
Incorporated in 1984, the speciality chemicals major has two verticals: Life science-related speciality chemicals comprising products related to agrochemicals, personal care and pharmaceuticals and other speciality chemicals comprising speciality pigment and dyes, and polymer additives.
Also Read | Anupam Rasayan to supply three high value specialty chemicals to a Japanese firm for Rs 1,500 crore
This month Anupam Rasayan signed another LoI with a Japanese company for the supply of three high-value speciality chemicals worth Rs 1,500 crore taking the total order value for the year to Rs 3,534 crore.
The company had also signed a Letter of Intent (LoI) last month worth revenue of $120 million (Rs 984 crore) with a top Japanese chemical company to supply new-age advance intermediate and active ingredients for the next six years.
Also Read | Anupam Rasayan signs API supply contract worth Rs 984 crore with a Japanese multinational
Last month, the company signed a memorandum of understanding (MoU) with the Gujarat government to set up three new plants.
Anupam Rasayan's deputy CFO Vishal Thakkar had told CNBC-TV18 in an interview that revenue from the additional capacity would be around Rs 3,000 crore by the financial year 2025. Thakkar also said that new molecules will contribute Rs 30 crore to the company's revenue this fiscal.
Shares of Anupam Rasayan are trading 4.52 percent higher at Rs 1,125. The stock made an intraday high of Rs 1,126, which also happens to be its 52-week high.
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