Anupam Rasayan touches 52-week high on US order win

Mumbai: Anupam Rasayan, a speciality chemical manufacturer, has bagged an order worth ₹380 crore ($46 million) from an American multinational company to supply an advance intermediate for the next five years according to the company's statement to the stock exchanges. ET reported the development on Tuesday.

The stock hit a fresh 52-week high on Tuesday after the announcement. It rose by 4.4% to ₹1,123.4 at the end of the day. It has nearly doubled since February 1 following business momentum.

This is the third big order for Anupam in a month taking the cumulative value of contracts to around ₹2,500 crore. The total order backlog would cross ₹5,000 crore after the company's recent order which would improve revenue visibility for the next 5-7 years.

Anand Desai, managing director of Anupam Rasayan, said, "We have established a new relationship with an American MNC customer by signing a long-term LOI to supply a niche fluorinated molecule on an exclusive basis."

The second-order fluorinated chemistry-based molecules will help the company to achieve the target of earning nearly one-third of revenue from fluorine agents in the next three-four years. It expects revenue of ₹1,000-1,100 crore from the segment which typically fetches higher realisation and enjoys superior margins.