Anupam Rasayan has signed a Letter of Intent with a leading Japanese multinational for the manufacture and supply of three high-value specialty chemicals. The products will be manufactured at their existing facilities.

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The deal will fetch the company $182 million or Rs 1,500 crore over a seven-year period.

The three molecules will be used as advanced intermediates for highly specialized polymers & liquid crystals. Anupam Rasayan will be the exclusive supplier for these molecules out of India.

This deal is in-line with the company's strategy of expansion in Fluoropolymer and electronic segments, manufacturing high-value molecules and going up the value chain.

Anupam Rasayan's management said that the deal adds another marquee name to the company's customer base in a very short span of time.

"This LOI demonstrates the increasing confidence of global MNCs in our technical capabilities and sustainable supply chain and further reaffirms our focus on Make in India," the company said in a statement.

The company is currently manufacturing products for over 71 domestic and international customers, including 27 multinational companies. It operates via its six manufacturing facilities in Gujarat, with four facilities located at Sachin, Surat and two located at Jhaghadia, Bharuch with an aggregate installed capacity of about 27,000 MT as of December 31, 2022.

The company had also signed a Letter of Intent (LoI) last month worth revenue of $120 million (Rs 984 crore) with a top Japanese chemical company to supply new age advance intermediate and active ingredient for the next 6 years.

Last month, the company signed an MoU with the Gujarat government to set up three new plants. Anupam Rasayan's deputy CFO Vishal Thakkar had told CNBC-TV18 in an interview that revenue from the additional capacity will be around Rs 3,000 crore by financial year 2025. Thakkar also said that new molecules will contribute Rs 30 crore to the company's revenue this fiscal.

Shares of Anupam Rasayan are trading 1.2 percent higher at Rs 963. The stock made an intraday high of Rs 984.4, which also happens to be its 52-week high.

(Edited by : Hormaz Fatakia)