Anupam Rasayan signs LoI with Japanese multinational chemical firm

Anupam Rasayan signs LoI with Japanese multinational chemical firm

Anupam Rasayan India share price gained more than 7% on August 30 after company signed Letter of Intent (LoI) amounting Rs 135 crore with a Japanese multinational chemical company for supplying a life sciences related speciality chemical product.
The company will enter into a long-term contract with the Japanese multinational firm for next four years to supply this life science related speciality chemical product.

This order will further strengthen Anupam Rasayan’s revenue and profitability. It also showcases the quality of the product allowing the customer to depend upon the company on long term basis making Anupam Rasayan, a preferred partner for these MNC.
Earlier this month, the Chemicals maker reported a multi-fold jump in its consolidated net profit at Rs 32.12 crore in the first quarter of 2021-22 fiscal. The company had posted a net profit of 0.226 crore in the same quarter of the previous fiscal.

Net revenue increased on a consolidated basis to Rs 237.9 crore in the April-June quarter of 2021-22 fiscal from Rs 134.6 crore in the year-ago period.
The company will continue to increase its investments in research and development, especially in light of increasing inquiries received from major MNCs recently exhibiting promising market potential.

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