Stock Report

Anupam Rasayan signs LoI worth $120 Million with one of the Leading Japanese Chemical Company

Posted On : 2023-03-23 11:35:44( TIMEZONE : IST )

Anupam Rasayan signs LoI worth $120 Million with one of the Leading Japanese Chemical Company

Anupam Rasayan (NSE, BSE: ANURAS), one of India's leading custom synthesis & speciality chemical players, has signed Letter of Intent worth revenue of $120 Mn (₹984 crores) for next 6 years with one of the leading Japanese Chemical company to supply new age advance intermediate for life science active ingredient. This product will be manufactured in our existing as well as upcoming multipurpose manufacturing facilities.

Speaking about the contract, Anand Desai, Managing Director of Anupam Rasayan, said, "We are excited to announce that we will be primary supplier globally for this new age high value advance intermediate to the Japanese customer. We are happy to add yet another marquee Japanese multinational in our customer portfolio. Sales realisation for this molecule will be one of the highest for the company. This molecule is based on fluorination chemistry which further validates our strategy of expansion in fluorination.

This product is being manufactured for the first time in India and it is in line with the government's make in India policy. This LOI demonstrates our technical capability to work on niche molecule along with Japanese customers and strengthens our revenue growth visibility in the coming years."

Shares of Anupam Rasayan India Limited was last trading in BSE at Rs. 828.10 as compared to the previous close of Rs. 805.30. The total number of shares traded during the day was 47400 in over 2999 trades.

The stock hit an intraday high of Rs. 859.00 and intraday low of 799.70. The net turnover during the day was Rs. 39650017.00.

Source : Equity Bulls


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