Anupam Rasayan India Limited — Investor Meet, 28-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Anupam Rasayan posted Q4 revenue of INR506 Cr, up 22% YoY and 31% QoQ; FY25 revenue at INR1,448 Cr declined 4% YoY due to a weak H1 but recovered strongly in H2. Q4 EBITDA margin stood at 30%, with PAT rising 56% YoY. Pharma and Polymer drove growth, contributing over 40% of revenues, supported by 14 new molecule launches. Agrochemicals showed early revival, aided by a high-value AI molecule under a large LOI. The order book is INR14,646 Cr over 4–10 years, with INR3,100 Cr of LOIs commercialized. Management targets 25–30% revenue growth from FY26, backed by volume ramp-up and new products, with steady margins of 26–28%. Working capital is elevated but expected to normalize by FY27. Capex of INR670 Cr completed; debt reduction underway via warrant conversions. New electrolyte contracts for lithium-ion batteries begin in FY26, with potential capex later. Overall, growth outlook is confident, driven by product launches and geographic expansion.