Anupam Rasayan India announces Long term contract worth $53 Million renewed with the leading German Multinational

Anupam Rasayan India Limited ("Anupam Rasayan") (NSE: ANURAS; BSE: 543275), one of India's leading custom synthesis & speciality chemical players, has renewed long term contract worth revenue of $53 Mn (₹436 crores) with one of the leading German multinational for supply of patented life science speciality chemical for the next 3 years on exclusive basis. This renewal is in accordance with the automatic renewal clause agreed upon by the parties in the long-term agreement signed three years ago, following the completion of the original contract duration of three years.

Speaking about the contract renewal, Anand Desai, Managing Director of Anupam Rasayan, said, "With a consistent supply at a lower cost owing to process optimisation led by strong R&D, this contract renewal reaffirms our position as a preferred supplier to the MNCs, showcasing the trust and reliability that have been established over the years.

Furthermore, we anticipate the volumes of this molecule to increase beyond the minimum offtake volumes, considering the high-growth end market. The renewed contract not only solidifies our position as a reliable supplier but also highlights our agility in meeting the evolving needs of clients. This contract renewal, along with recently signed LOIs assures the consistent and steady growth trajectory of the company."

Shares of Anupam Rasayan India Limited was last trading in BSE at Rs. 1132.10 as compared to the previous close of Rs. 1138.95. The total number of shares traded during the day was 12208 in over 1461 trades.

The stock hit an intraday high of Rs. 1156.55 and intraday low of 1119.00. The net turnover during the day was Rs. 13893036.00.

Source : Equity Bulls

Keywords

AnupamRasayanIndia INE930P01018 LongtermContract Renewabl