Anupam Rasayan signs Letter of Intent worth $182 Million with one of the Leading Japanese Multinational

Anupam Rasayan (NSE, BSE: ANURAS), one of India's leading custom synthesis & speciality chemical players, has signed Letter of Intent worth revenue of $182 Mn (₹1,500 crores) for next 7 years with one of the leading Japanese multinational to manufacture and supply three high value speciality chemicals. This product will be manufactured in our existing manufacturing facilities.

Speaking about the contract, Anand Desai, Managing Director of Anupam Rasayan, said, "We are proud to announce that we are partnering with a leading Japanese multinational to add three new molecules to our portfolio. This achievement was made possible by the joint efforts of our Japanese and Indian business development teams, and adds another marquee name to our customer base in a short span of time. These three molecules will be used as advance intermediates for highly specialized polymers and liquid crystals."

We will be the exclusive supplier for these molecules out of India and this is in line with our strategy of expansion in Fluoropolymer and Electronic segments, manufacturing high value molecules and going up the value chain with support of our customers. This LOI demonstrates the increasing confidence of global MNCs in our technical capabilities and sustainable supply chain and further reaffirms our focus on Make in India."

Shares of Anupam Rasayan India Limited was last trading in BSE at Rs. 989.20 as compared to the previous close of Rs. 950.00. The total number of shares traded during the day was 49169 in over 2467 trades.

The stock hit an intraday high of Rs. 992.00 and intraday low of 941.05. The net turnover during the day was Rs. 48122978.00.

Source : Equity Bulls

Keywords

AnupamRasayanIndia INE930P01018 SpecialtyChemicals LoI OrderWin Japan MNC