Anupam Rasayan India Limited on Thursday announced it has signed a letter of intent worth$182 million (about ₹1,500 crore) of revenue with a Japanese multinational for the manufacture and supply of three high-value speciality chemicals for the next seven years.

This product will be manufactured at the company’s existing facilities, it said.

Anand Desai, Managing Director of Anupam Rasayan, said about the contract, “We are proud to announce that we are partnering with a leading Japanese multinational to add three new molecules to our portfolio. These three molecules will be used as advance intermediates for highly specialised polymers and liquid crystals.”

Also read

Broker’s call: Ami Organics (Buy)

India’s e-pharmacy market was pegged at ₹26 billion in 2021 and is expected to reach around ₹90 billion in 2027 with a CAGR of 22 per cent.  

Health Min mulls meet with e-pharmacies, stringent restrictions loom

The four members said the orders appeared to be tools to protect domestic industry

Canada, Japan, UK, EU question India’s quality control orders at WTO

Anupam Rasayan will be the exclusive supplier for these molecules out of India. “This is in line with our strategy of expansion in fluoropolymer and electronic segments, manufacturing high-value molecules, and going up the value chain with support of our customers,” he added.

Last month, the company had signed a memorandum of understanding (MoU) with the government of Gujarat for setting up new plants in Jhaghadia and Sachin in Gujarat, with an investment of $670 crore. The plants, which are likely to be commissioned before 2025, would largely focus on manufacturing fluorochemicals for the agrochemical, polymers and pharma sectors in Japan, Europe and America, the company had said in March 2023.

Anupam Rasayan shares traded at ₹963.55, up about 1.5 per cent from previous close on BSE Thursday.