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Ami Organics Ltd (AOL), established in 2004, is one of the leading pharmaceutical companies manufacturing different types of Advanced Pharmaceutical Intermediates, Active Pharmaceutical ingredients (API) for New Chemical Entities (NCE), KSM, agrochemicals and fine chemicals. As of 31st Mar 2021, the company has developed over 450 pharma intermediates across 17 key therapeutic areas i.e. anti-retroviral, antiinflammatory, anti-psychotic, anti-cancer, anti-Parkinson, anti-depressant, and anti-coagulant. Pharma Intermediates accounted for 88% of the turnover as on March 2021.

The company also provides Specialty chemical (Preservatives / Agrochemicals/ Fine Chemicals) services to a range of multinational companies globally. Specialty chemicals contributes 5% to the overall revenue.

AOL has a global footprint spanning all the regulated markets (Europe, USA, China, Israel, Japan, Latin America) and rest of the world. AOL caters to ~150 customers across India and 25 countries. It generates 52% of its revenue from exports.

In 2015, AOL formed a 50-50 JV Ami Onco -Theranostics LLC (Delaware, USA) with Photolitec LLC. This entity currently holds the rights for 3 patents for new photosensitizing compounds used to identify and treat cancer. Ami Onco - Theranostics LLC has the rights for worldwide usage (except China) of some of these patents. Revenue flows are expected from FY25 onwards.

AOL has a dedicated in-house R&D laboratory at GIDC in Sachin, Gujarat. It has 66 research personnel at this facility working on new product development, cost efficiencies and process validation. AOL’s R&D initiatives are to develop products which have a high chemical complexity and limited competition. It spends nearly 2.4% of its net sales on R&D, which is relatively high compared to its peers.

In FY21 AOL acquired 2 manufacturing facilities located at Ankleshwar and Jhagadia with a total capacity of 3,600 MTPA for INR 93 Cr (INR 65 cr of debt) operated by Gujarat Organics Ltd (GOL) on a slump sale basis. With this acquisition AOL has enhanced its product offerings to include preservatives (paraben and paraben formulations) and other specialty chemicals.

Apart from enhancing its product portfolio AOL has also acquired a state-ofthe-art ETP, equipped with zero liquid discharge, that too located in the industrial area of GIDC. This will significantly improve utilizations, lower cost due to economies of scale and provide the necessary infrastructure to scale up the specialty vertical. The Jhagadia facility (Installed Capacity of 2,400 MTPA) has a land area of 56,998.35 sq. mtrs of which 15,830 sq. mtrs of free land are available for future brownfield expansion.

The acquired manufacturing units located at Ankleshwar have boosted custom synthesis and manufacturing capabilities. The acquired facility has a land area of 10,644 sq. mtrs and Installed Capacity of 1,200 MTPA.

In addition, AOL recently completed the acquisition of two additional manufacturing facilities operated by GOL which has added preservatives (parabens and parabens formulations which have end usage in cosmetics, animal food and personal care industries) and other specialty chemicals that find end use in cosmetics, dyes, polymers and agro-chemical industries and it commands a significant market share globally. The acquisition is in line with the inorganic growth strategy of foraying further into the specialty chemicals sector and will enable AOL to significantly diversify its existing

product portfolio, with the objective of attaining inorganic expansion of the business.

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