AMI Organics reports Q3 FY24 revenue of Rs. 166.4 Cr

AMI Organics reports Q3 FY24 revenue of Rs. 166.4 Cr

This growth is underpinned by robust volume growth of 25%, indicating strong business traction

  • By ICN Bureau | February 13, 2024

Ami Organics Limited (AMI), a leading global manufacturer of advanced pharmaceutical intermediates and speciality chemicals, has reported Q3 FY24 revenue of Rs. 166.4 crore.  

Commenting on results, Naresh Patel, Executive Chairman & Managing Director, Ami Organics Limited said, “In the face of a challenging landscape of the chemical industry, I am pleased to report that we have been able to deliver quality growth in Q3 FY24 with our revenue from operations growing 9.2% YoY to Rs. 166.4 crore. This growth is underpinned by robust volume growth of 25%, indicating strong business traction.

"During the quarter, we further solidified our relationship with Fermion by signing an agreement for two additional advanced intermediates for their APIs. This milestone reflects AMI Organics’ prowess in fostering enduring client relationships, ably supported by strong R&D and manufacturing strengths. Additionally, we also inaugurated a state-of-the-art, technology-driven plant at our Ankleshwar site, designed to meet the growing demand in the Pharmaceutical intermediate business," said Naresh Patel.

"I am also excited to share that we have signed an MoU with a global manufacturer of electrolytes for the manufacturing of electrolytes for battery cells and allied materials. In this context, we have also signed a MoU with the Government of Gujarat for investment amounting up to Rs. 300 crores for setting up of a dedicated manufacturing facility for electrolytes business in Gujarat," commented Patel.

"Despite the industry headwinds, we remain confident of closing the year with healthy growth. I would also like to highlight that the various initiatives we have taken in FY23 and FY24 enhances our revenue visibility for FY25 and beyond, bolstering our confidence in our potential for stronger growth in coming years,” added Patel.

Ami Organics is a R&D driven manufacturer of specialty chemicals with varied end usage, focused on the development and manufacturing of advanced pharmaceutical intermediates for regulated markets and generic active pharmaceutical ingredients (APIs) and New Chemical Entities (NCE) and key starting material for agrochemical and fine chemicals.

AMI has developed and commercialised over 520 Pharma Intermediates for APIs across 17 key therapeutic areas since inception and NCE, with a strong focus on R&D across select high-growth high margin chronic therapeutic areas.

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