Anupam Rasayan India Ltd. (ARIL), one of India’s leading custom synthesis and specialty chemical players, has announced total revenue for 9M FY24 was at Rs. 1,092.3 crore as compared to Rs. 1,106.2 crore in 9M FY23, down 1.26% YoY.

EBITDA (including other income) was at Rs. 306.2 crore in 9M FY24 as compared to Rs. 298.4 crore in 9M FY23, a growth of 2.62% YoY, this would translate into 28.03% EBITDA margin. Profit After Tax was at Rs. 127 crore in 9M FY24 as compared to Rs. 144.2 crore in 9M FY23.

Speaking on the performance, Anand Desai, Managing Director, Anupam Rasayan said, “The chemical industry continues to face headwinds impacting our performance for the quarter. This, coupled with client off-taking minimum required quantities to manage their year-end working capital has led to degrowth in our revenues for the quarter. Even during such difficult times, we have been able to maintain our margins steady at 28% for the 9M FY24 on a consolidated basis.

I am happy to inform you that, during the quarter, we signed a Letter of Intent worth US $61 million i.e. Rs. 507 crores for next 9 years with one of the leading Japanese chemical companies to supply new age polymer intermediate. I firmly believe that our Japan business will see strong growth in the coming years and will likely become a major business centre for Anupam.

A next step forward in our sustainability journey, the company has decided to invest Rs. 59 crores towards setting up of 9.6 MW hybrid (wind plus solar) power plant. Post completion of this Capex, 65% of the company’s electricity consumption will be from green energy.

Overall, I believe FY24 will be a challenging year for the industry but with a resilient and a robust business model like ours, I am confident that FY25 will be a year of demand resurgence and strong growth.”

Anupam Rasayan India is currently manufacturing products for over 73 domestic and international customers, including 29 multinational companies. The company operates via its six manufacturing facilities in Gujarat, India, with four facilities located at Sachin, Surat and two located at Jhagadia, Bharuch with an aggregate installed capacity of about 27,000 MT, as of March 31, 2023.