Anupam Rasayan gains 3% after reporting 15% rise in profit

Shares of Anupam Rasayan India gained 3 per cent in Friday's trade after the chemical company reported better-than-expected September quarter results.

At 10.00 am, the scrip was trading at Rs 804.10 on BSE, up 2.81 per cent.   On Thursday, the company reported a 15 per cent year-on-year (YoY) jump in profit after tax at Rs 41.2 crores for September quarter compared with Rs 35.80 crores in the corresponding quarter last year.    Operating revenues  were up 25 per cent YoY at Rs Rs 310.7 crore. Total revenues for the chemical company stood at Rs 308.7 crore, up 21 per cent YoY.    Ebitda for the quarter came in at Rs 8.98 crores, up 29 per cent YoY.   Managing Director Anand Desai said his company’s standalone business grew 25 per cent YoY to Rs. 310 crore. Ebitda margins were consistent, he said.   “Overall, we continue to see upward bias in all the contracted volumes with major customers. This makes us confident of delivering a strong performance in the coming quarters and for the year.” Desai said.     Desai noted that Anupam Rasayan recently signed two contracts with one of the European Crop Protection company for supplying two new life science related specialty chemicals.   Anupam Rasayan India is engaged in the custom synthesis (CSM) and manufacturing of specialty chemicals. The company operates via its six manufacturing facilities in Gujarat, with four facilities located at Sachin, Surat and two located at Jhagadia, Bharuch.