Anupam Rasayan India posted its consolidated operating revenue for the quarter ended June 2024 at Rs. 254 crores with the Y-o-Y degrowth of 34%. These degrowth on account of lower volume offtake in Agrochemical segment. The EBITDA margin was at 23% in Q1 FY25, lower by over 5% points on account of lower sales. "With higher contribution from Polymer and Pharma business this year, coupled with ramp up of the LOIs and contracts, we expect our revenue growth to come back from H2 FY25," said Anand Desai, Managing Director, Anupam Rasayan India Limited, at Q1 FY25 Earnings Conference Call on August 14, 2024.

Replying to a question, Vishal Thakkar, Deputy Chief Financial Officer, Anupam Rasayan India, said: "We estimate that around 20-25% for this year's revenue should be from the LoIs and contracts which are commercialized over the last 1-2 years’ time."

Elaborating it further, Thakkar said that Anupam Rasayan India is looking around about Rs. 250 odd crores and “we should be adding roughly around additional Rs. 200 crores each at least for the next 2 years is what our estimation would be”.

The company is also expecting around 20-25% revenue coming from fluorination chemistry. “This quarter fluorination was around by 15% odd of my revenue. This year we are looking at around 20%-25% of my revenue coming from fluorination chemistry. And the fraction that we are seeing by 2027, we should be looking at about 30-35% of our revenue coming from fluorinated products across various applications,” Thakkar said.

Interestingly, Anupam Rasayan India is expecting to good sales revenue from Japan and US markets. “More particularly, in Japan, we are experiencing strong traction, particularly for our fluoropolymers with significant support from our local business development team in the region. We anticipate that within next 2-3 years, approximately one-third of Anupam's sales will originate from Japan with all business being secured through long term contracts. Additionally, we have several new Polymer products currently in our R&D that are targeted for supplying in US market as well.

As of 30th June 2024, the company has already utilized Rs. 530 crore out of the total planned CAPEX of Rs. 670 crore. The balance CAPEX would be incurred during the coming quarters. Anupam’s working capital remains stable in absolute terms, and the company expects it to stabilize further by the end of this fiscal with improvements anticipated in FY26.