Anupam Rasayan shares rally after bagging Rs 2,186 crore deal from Japanese firm

Anupam Rasayan has signed Letter of Intent worth revenue of $265 million (Rs 2,186 crores) for next 5 years with one of the leading Japanese Speciality Chemical company to supply new age patented life science active ingredient. 

According to the press release, the product will be in validation phase for the next eighteen months and upon the successful validation, the supply will commence from CY2025. 

“This product will be manufactured in our existing multipurpose manufacturing facilities”, the company said.

Speaking about the contract, Anand Desai, Managing Director of Anupam Rasayan, said, “We are pleased to announce that we will be the primary global supplier of this new age patented life science active ingredient to one of the leading Japanese specialty chemical companies with the support of our Japanese business development team. 

With the addition of this new customer, we are delighted to include another renowned Japanese multinational in our customer portfolio. 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 customized molecules. We are excited about the opportunities this partnership brings.”

During afternoon trade, shares of Anupam Rasayan were trading at Rs1099.70 per share higher by 1.26% on the BSE.

Source: Media reports