Leading specialty chemical players Anupam Rasayan has signed a Letter of Intent (LOI) worth Rs 700 crores with one of the top ten multinational crop protection company for supplying a new life science related active ingredient. The company will enter into a long-term contract to supply this life science related specialty chemical product for the next five years. This new molecule is in addition to the existing product portfolio with this customer.

Speaking about the letter, Anand Desai, Managing Director of Anupam Rasayan, said, "We are very pleased to announce that this LOI is in line with our strategy of value re-engineering to manufacture high-value products for medium to large volumes and with the supply spanning over five years shows the confidence customers are reposing in Anupam Rasayan's multifaceted capability and this LOI further expands our high-value product portfolio with major global players.

This is one more feather in Anupam's cap as in this financial year till date we have signed LOIs worth Rs 1,800 crores and contracts worth Rs 820 crores; taking the total contracts/LOIs signed in this financial year to Rs 2,620 crores. These orders demonstrate firm revenue visibility for growth in the coming years through the commercialisation of new molecules."

The specialty chemicals major is manufacturing products for over 66 domestic and international customers, including 23 multinational companies. The company has a long history of high customer retention and have been manufacturing products for select customers for over a decade. The company caters to a diverse base of Indian and global customers.