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Anupam Rasayan signs LOI worth $95 million with Multinational Crop Protection Company
Anupam Rasayan
Anupam Rasayan today announced that it has signed a Letter of Intent (LOI) worth $95 million (Rs 700 crores as per the current exchange rate) with one...
Anupam Rasayan today announced that it has signed a Letter of Intent (LOI) worth $95 million (Rs 700 crores as per the current exchange rate) with one of the top ten multinational crop protection companies for supplying a new life science-related active ingredient.
The company will enter into a long-term contract to supply this life science-related speciality chemical product for the next five years. This new molecule is in addition to the existing product portfolio with this customer.
"We are very pleased to announce that this LOI is in line with our strategy of value re-engineering to manufacture high-value products for medium to large volumes and with the supply spanning over five years shows the confidence customers are reposing in Anupam Rasayan's multifaceted capability and this LOI further expands our high-value product portfolio with major global players. This is one more feather in Anupam's cap as in this financial year to date we have signed LOIs worth Rs 1,800 crores and contracts worth Rs 820 crores; taking the total contracts/LOIs signed in this financial year to Rs 2,620 crores. These orders demonstrate firm revenue visibility for growth in the coming years through the commercialisation of new molecules," said Anand Desai, Managing Director, Anupam Rasayan.
The speciality chemicals major is manufacturing products for over 66 domestic and international customers, including 23 multinational companies. The company has a long history of high customer retention and have been manufacturing products for select customers for over a decade. The company caters to a diverse base of Indian and global customers.
Anupam Rasayan India Ltd (ARIL) is one of the leading companies engaged in the custom synthesis (CSM) and manufacturing of speciality 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. The company operates via its six manufacturing facilities in Gujarat, India, with four facilities located at Sachin, Surat and two at Jhaghadia, Bharuch, with an aggregate installed capacity of 27,049 MT as of September 30, 2021.
