Summary :
Anupam Rasayan India, a custom synthesis & speciality chemical firm, has signed a letter of intent (LoI) worth $95 million (i.e. Rs 700 crore) with a major multinational crop protection company to supply a new life science related active ingredient.
Anupam Rasayan India will enter into a long-term contract to supply this life science related speciality chemical product for the next five years. This new molecule is in addition to the existing product portfolio with this customer.
Anupam Rasayan India Sign LOI worth $95 mil. from crop Protection Firm
The speciality chemicals major is manufacturing products for over 66 domestic and international customers, including 23 multinational companies. The company has a long history of high customer retention and have been manufacturing products for select customers for over a decade. The company caters to a diverse base of Indian and global customers.
Anand Desai, the managing director (MD) of Anupam Rasayan India, has said: “We are very pleased to announce that this LoI is in line with our strategy of value re-engineering to manufacture high-value products for medium to large volumes and with the supply spanning over five years shows the confidence customers are reposing in Anupam Rasayan’s multi-faceted capability and this LoI further expands our high-value product portfolio with major global players.”
“This is one more feather in Anupam’s cap as in this financial year till date we have signed LoIs worth Rs 1,800 crore and contracts worth Rs 820 crore; taking the total contracts/ LoIs signed in this financial year to Rs 2,620 crore. These orders demonstrate firm revenue visibility for growth in the coming years through the commercialisation of new molecules.”
On a consolidated basis, the company reported 37.2% rise in net profit to Rs 36.05 crore on 13.3% increase in revenue from operations to Rs 248.92 crore in Q2 FY22 over Q2 FY21.
Shares of Anupam Rasayan India rose 0.57% to Rs 1,031.55 on BSE. Anupam Rasayan India is one of the leading companies engaged in the custom synthesis (CSM) and manufacturing of specialty chemicals in India.
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