Anupam Rasayan hits 52-week high; zooms 58% in 2 mths on strong biz outlook

Last month, ARIL signed LoI worth revenue of $120 million (Rs 984 crore) for the next 6 years with Japanese Chemical company

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SI Reporter Mumbai

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Shares of Anupam Rasayan India (ARIL) hit a 52-week high of Rs 951.75, as they surged 7 per cent on the BSE in Thursday's intra-day trade. In the past two trading days, the stock of the specialty chemicals company has rallied 13 per cent.

It surpassed its previous high of Rs 928, touched on September 12, 2022. The company made its stock market debut on March 24, 2021, with its shares hitting a record high of Rs 1,106 on February 2, 2022. The company had garnered Rs 760 crore via the public offering, and had issued shares at Rs 555 per share.

In the past two months, the market price of ARIL has zoomed 58 per cent on expectation of strong and sustainable growth in the coming quarters and years.

On March 23, 2023, ARIL signed Letter of Intent  (LOI) worth revenue of $120 million (Rs 984 crore) for the 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 the company’s existing as well as upcoming multipurpose manufacturing facilities.

"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," the management said.

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," the management said.

ARIL is one of the leading companies engaged in the custom synthesis (CSM) and manufacturing of specialty chemicals in India. The speciality chemicals major has two verticals: Life science related Specialty Chemicals comprising products related to Agrochemicals, Personal Care and Pharmaceuticals, Other Specialty Chemicals comprising Specialty Pigment and Dyes, and Polymer Additives.

ARIL said it has received approval to restart the plant from the Gujarat Pollution Control Board (GPCB) and other regulatory authorities after following all the regulatory and safety compliances.

Overall, strong pipeline of products, availability of the capacity, advance stage discussion with various clients along with capex which is moving ahead of the plan makes the management confident of delivering strong and sustainable growth in coming quarters and years.

First Published: Apr 06 2023 | 2:32 PM IST

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