Anupam Rasayan, a player in custom synthesis and specialty chemicals in India, recently disclosed via an exchange filing that it has entered into a Letter of Intent valued at $61 million (approximately Rs 507 crores) in revenue over the next nine years. This agreement is with a top-tier Japanese chemical company for the supply of an innovative polymer intermediate.
Anupam Rasayan India Ltd (ARIL) is involved in custom synthesis and the production of specialized chemicals. Established in 1984, this company operates through two main divisions: one focused on life science-related specialty chemicals encompassing products in Agrochemicals, Personal Care, and Pharmaceuticals, while the other deals with a range of specialty pigment and dyes, along with polymer additives.
Anupam Rasayan announced that the upcoming product will be produced across both established and newly built versatile manufacturing sites. This particular compound is set to serve as a crucial intermediary in the creation of thermoplastic polymers. These polymers are integral components in the aerospace industry for structural materials, semiconductor processes, electrical and electronic devices, and enhancing the performance of industrial machinery. This information was provided by the company in their statement.
Anand Desai, Managing Director, Anupam Rasayan, said, “We are pleased to announce that we have signed the LOI with a renowned Japanese multinational, who we are excited to add to our customer portfolio to whom we will be supplying this new age polymer intermediate. This molecule will be utilized as an intermediate for thermoplastic polymers, which find uses in structural materials in the aerospace industry, semiconductor process material, electrical & electronic devices, and high-performance industrial machinery. “
“As we are fully backward integrated for this molecule, we can provide supply chain assurance to the customer without dependencies on supplies from other geographies. The signing of this LoI represents a significant milestone for us, further cementing our position as a trusted provider of high-end polymer intermediates. We are excited about the opportunities this partnership brings,” Anand Desai added.
Anupam Rasayan witnessed a 2% decline in its shares at the close of Friday’s trading. Throughout 2023, the stock has surged by an impressive 45%. Since its IPO at ₹555 in March 2021, the stock has nearly doubled in value. However, the preceding year, 2022, saw the stock recording a substantial 30% negative return.
