Multibagger from its 52-week low: Mid-cap marvel bags massive Rs 436 crore long-term contract; announces dividend!

The net sales rose by 47.69 per cent and net profit rose by 58.69 per cent in Q4FY23 over Q4FY22.

Anupam Rasayan India Limited (NSE: ANURAS; BSE: 543275), one of India’s leading custom synthesis & speciality chemical players, has renewed long term contract worth revenue of USD 53 million (Rs 436 crore) with one of the leading German multinationals for the supply of patented life science speciality chemical for the next 3 years on an exclusive basis.   

This renewal is in accordance with the automatic renewal clause agreed upon by the parties in the long-term agreement signed three years ago, following the completion of the original contract duration of three years.  

Additionally, the company has declared an interim dividend of Rs 1.50 per equity share having a face value of Rs 10 per share. The company fixed the record date as Monday, May 15, 2023.  

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On Wednesday, shares of Anupam Rasayan India Ltd surged 0.16 per cent to Rs 1,132.10 with an intraday high of Rs 1,153.50 and an intraday low of Rs 1,131.05. 

The company has a market cap of over Rs 12,000 crore with a 1-year CAGR of 39 per cent.  According to the consolidated statements, the net sales rose by 47.69 per cent and net profit rose by 58.69 per cent in Q4FY23 over Q4FY22. In FY23, net sales rose by 50.28 per cent and net profit rose by 42.76 per cent over FY22.   

The stock gave multibagger returns of 110.84 per cent from its 52-week low of Rs 547.10 per share. Investors should keep an eye on this mid-cap chemical stock.