Chemicals producer Anupam Rasayan on Monday reported it has signed a Letter of Intent (LoI) worth USD 95 million (about Rs 700 crore) with a multinational crop protection firm for supply of new life science related active ingredient. The organization, in an assertion, said it will go into a drawn out agreement to supply this life science-related strength chemical item for the following five years. This new molecule is notwithstanding the current item portfolio with this client, it added.
This LoI further expands the company’s high-value product portfolio with major global players, he said.
Speaking about the development, Anupam Rasayan Managing Director Anand Desai said this LoI is in line with the company’s strategy of value re-engineering to manufacture high-value products for medium to large volumes.
So far in the 2021-22 fiscal, Anupam Rasayan has signed LoI worth Rs 1,800 crore and contracts worth Rs 820 crore, taking the total contracts and LoIs signed to Rs 2,620 crore, he added.
Anupam Rasayan is engaged in the custom synthesis (CSM) and manufacturing of specialty chemicals in India. It makes products for over 66 domestic and global customers, including 23 MNCs.
Desai said, “These orders demonstrate firm revenue visibility for growth in the coming years through the commercialisation of new molecules.”
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