Rs 7,669 crore order book: This speciality chemical company signs 3 MoUs with Government of Gujarat!

The stock is up by 30 per cent on a YTD basis.

Anupam Rasayan India Limited (NSE: ANURAS; BSE: 543275), one of India’s leading custom synthesis & speciality chemical players, has signed three Memorandums of Understanding (MoUs) with the Government of Gujarat for afforestation on a total land area of 150 hectares – 50 hectares located in Narmada district, 50 hectares located in Tapi District and 50 hectares located in Surat District. This project will be a part of the Green Belt Development Drive by development of various lands earmarked by the Gujarat government for the purpose of plantation and maintenance of different kinds of trees.

Speaking about the MoUs, Mr Anand Desai, Managing Director of Anupam Rasayan, expressed his enthusiasm stating, “We are excited to collaborate with the Forest Departments on this initiative. This will help offset our carbon emissions and further contribute to our goal of achieving energy net zero by 2027. We will be able to plant over 1,66,000 trees on these barren lands. The partnership will support efforts to identify innovative methods for sustainable land management and afforestation. We look forward to working closely with the Government of Gujarat to rejuvenate these 150 hectares, enhancing its ecological value. We are committed to minimizing our carbon footprint and maximizing the positive impact of our business.”

Earlier, the company 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 chemicals company to supply new age patented life science active ingredients.

 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. Including the above order, the company’s order book stands at Rs 7,669 crore.

The company has a market cap of Rs 9,495 crore and reported amazing numbers in its Quarterly Results and annual results. In FY23, net sales increased by 50.28 per cent and net profit increased by 42.76 per cent over FY22.

On Tuesday, shares of Anupam Rasayan plunged 0.14 per cent to Rs 882.35 per share with an intraday high of Rs 891.65 and an intraday low of Rs 877.25. The promotors of the company hold more than 60 per cent stake in the company as of June 2023.

The stock is up by 30 per cent on a YTD basis. Investors should keep an on this Mid-Cap chemical stock.