Update On Anupam Rasayan India Ltd By Monarch Networth Capital
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Key MeetingTakeaways
Growth strategies:
* To add multi-step synthesis products of 15-17 steps and enhance customer partnerships due to depth in chemistry. To add ~3 products every year in new patented/complex reactions. Focus of process improvement and productivity.
Logistics:
* Management expects 20-30% increase in costs in FY22 due to surge in prices. However, the company is acquiring vehicles for strong in-house supply chain management.
Raw material supplies:
* Keeps 2-3 months inventory across segments for assurance against uncertainties.
Pharma end-use therapy:
* Manufactures intermediates for anti-psychotic products and is working on other new products as per customer demands. Currently working on acquisitions of new clients by supplying small samples. Expects high growth rate to continue till FY23, post which capacity expansion would be required.
Acquisition plans:
* Management has been selectively evaluating some acquisitions with the intent to bring specialty chemicals companies which can add value in products, chemistry and customers. Capex:
* Surplus land available for expansion in Unit 4 and 6 for introducing 3-4 new chemistries; permissions in place.
New Contract:
* Rs1100cr contract won in May 2021 for 3 products with tenure of 3-5 years and expected contribution of Rs450cr per annum.
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