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Anupam Rasayan hits 6-month high; zooms 40% in 5 weeks on strong outlook

Shares of Anupam Rasayan India (ARIL) closed up 7 per cent in Wednesday’s intra-day trade to hit a six-month high of Rs 859 on the BSE. The stock of Specialty Chemicals Company has gained 15 per cent in the last two trading days. It was at its highest level since September 12, 2022. In comparison, the S&P BSE Sensex was up 0.17 per cent at 58,172 at 01:36 pm.

ARIL is one of the leading companies engaged in Custom Synthesis (CSM) and manufacturing of specialty chemicals in India. Specialty Chemicals major has two verticals, Life Science Related Specialty Chemicals which includes products related to Agrochemicals, Personal Care and Pharmaceuticals, Other Specialty Chemicals which includes Specialty Pigments and Dyes, and Polymer Additives.

In the last five weeks, ARIL’s share price has gained 40 per cent on expectations of strong growth in the coming quarters and years. In the past one month, it has declined 35 per cent, compared to a 2.6 per cent fall in the S&P BSE Sensex.

The company has a strong pipeline of products to launch in the coming quarters. The management said that the company has seen strong interest from various customers especially on the fluorination side.

Anand Desai, “Overall, our strong pipeline of products, capacity availability, capex as well as advance stage discussions with various customers, which are progressing ahead of plan, look forward to strong and sustainable growth in the coming quarters and years.” assures to give. Anupam Chemicals Managing Director had said while announcing the December quarter results on January 27.

ARIL is focused on enhancing its product portfolio in fluorination chemistry with plans to launch 14 molecules in the next 12-18 months. Accordingly, the company is expected to launch 5 molecules in Q4FY23 itself. Besides this, the company has a strong pipeline of LOIs/contracts worth Rs 2,620 crore, which provides revenue visibility for the next 5 years, said analysts at KRChoksey Shares and Securities.

Unlike other chemical companies, the company is benefitting from the European energy crisis as it has signed two new contracts worth Rs 100 crore with a European agro chemical company. The company is witnessing a change in this trend as Indian chemical players are being chosen as preferred manufacturing partners for strategic products currently being manufactured in Europe.

“ARIL has delivered a steady performance despite widespread challenges and shutdown of one of the units. We are positive on the company’s long-term growth trajectory on the back of a strong product launch pipeline, particularly in high value fluorination chemistries,” said KRChoksey Shares & Securities. However, the stock is trading above its target price of Rs 839 per share .

 

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