Multibagger from its 52-week low: This mid-cap company receives order worth Rs 2,186 crore!
The promoters of the company hold more than 60 per cent stake in the company as of March 2023.
Anupam Rasayan India Limited (NSE: ANURAS; BSE: 543275), one of India’s leading custom synthesis & speciality chemical players, has signed a letter of intent worth revenue of USD 265 million (Rs 2,186 crore) for the next 5 years with one of the leading Japanese Speciality Chemical company to supply new age patented life science active ingredient.
The product will be in the validation phase for the next eighteen months and upon the successful validation, the supply will commence from CY2025. This product will be manufactured in our existing multipurpose manufacturing facilities.
The company has a market cap of over Rs 11,000 crore with a 1-year CAGR of 79 per cent. According to the consolidated statements, the net sales increased by 47.69 per cent and net profit increased by 58.69 per cent in Q4FY23 over Q4FY22. In FY23, net sales increased by 50.28 per cent and net profit increased by 42.76 per cent over FY22.
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On Wednesday, shares of Anupam Rasayan plunged 1.01 per cent to Rs 1,075.10 per share with an intraday high of Rs 1,150 and an intraday low of Rs 1,054.45. The promoters of the company hold more than 60 per cent stake in the company as of March 2023.
The stock gave multibagger returns of 110.02 per cent from its 52-week low of Rs 547.10 per share. Investors should keep an on this mid-cap chemical stock.