Price Target Changed • Jul 11
Price target increased by 7.7% to ₹1,143 Up from ₹1,062, the current price target is an average from 6 analysts. New target price is 9.8% below last closing price of ₹1,268. Stock is up 11% over the past year. The company is forecast to post earnings per share of ₹29.60 for next year compared to ₹15.09 last year. Reported Earnings • May 24
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: ₹15.09 (up from ₹8.50 in FY 2025). Revenue: ₹23.8b (up 66% from FY 2025). Net income: ₹1.70b (up 82% from FY 2025). Profit margin: 7.1% (up from 6.5% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates by 7.4%. Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • May 21
Anupam Rasayan India Ltd to Report Q4, 2026 Results on May 23, 2026 Anupam Rasayan India Ltd announced that they will report Q4, 2026 results at 9:08 AM, Indian Standard Time on May 23, 2026 Price Target Changed • May 18
Price target increased by 12% to ₹1,035 Up from ₹922, the current price target is an average from 6 analysts. New target price is 24% below last closing price of ₹1,362. Stock is up 42% over the past year. The company is forecast to post earnings per share of ₹14.05 for next year compared to ₹8.50 last year. Announcement • Feb 27
Anupam Rasayan India Ltd (NSEI:ANURAS) completed the acquisition of Jayhawk Fine Chemicals Corporation from CABB Group GmbH. Anupam Rasayan India Ltd (NSEI:ANURAS) entered into a definitive agreement to acquire Jayhawk Fine Chemicals Corporation from CABB Group GmbH for approximately $150 million on December 9, 2025. The purchase consideration of approximately $150 million includes approximately $16 million of cash and cash-like items for Jayhawk as of June 2025 and existing loans payable to the existing shareholders. The acquisition will be financed through a mix of internal accruals, debt and quasi equity.
For the period ending December 31, 2024, Jayhawk Fine Chemicals Corporation reported a revenue of $78.3 million and EBITDA of approximately $15 million.
The transaction was approved by the board of Anupam Rasayan India Ltd and is expected to close in January to February 2026. The transaction shall be EPS accretive for Anupam.
N M Rothschild & Sons Private Limited acted as financial advisor for Anupam Rasayan India Ltd. Piper Sandler Capital Advisory acted as financial advisor for CABB Group GmbH.
Anupam Rasayan India Ltd (NSEI:ANURAS) completed the acquisition of Jayhawk Fine Chemicals Corporation from CABB Group GmbH on February 27, 2026. The total purchase consideration has been financed through $109 million raised via the issuance of Class?B non-voting shares by Doriath S.à r.l. and $41 million raised through debt. The acquisition is financed through $129 million funded by Altis XII Pte. Ltd. (an affiliate of funds managed by Oaktree Capital Management, L.P.) and $21 million provided by Axis Bank. Dr. Jörg Rhiel of Clifford Chance Partnerschaftsgesellschaft acted as legal advisor to CABB Group GmbH. Price Target Changed • Feb 16
Price target increased by 7.9% to ₹976 Up from ₹905, the current price target is an average from 7 analysts. New target price is 21% below last closing price of ₹1,243. Stock is up 93% over the past year. The company is forecast to post earnings per share of ₹14.05 for next year compared to ₹8.50 last year. Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: ₹4.31 (vs ₹2.57 in 3Q 2025) Third quarter 2026 results: EPS: ₹4.31 (up from ₹2.57 in 3Q 2025). Revenue: ₹5.15b (up 32% from 3Q 2025). Net income: ₹490.4m (up 74% from 3Q 2025). Profit margin: 9.5% (up from 7.2% in 3Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Announcement • Feb 07
Anupam Rasayan India Ltd to Report Q3, 2026 Results on Feb 14, 2026 Anupam Rasayan India Ltd announced that they will report Q3, 2026 results at 12:08 PM, Indian Standard Time on Feb 14, 2026 Announcement • Dec 10
Anupam Rasayan India Ltd (NSEI:ANURAS) entered into a definitive agreement to acquire Jayhawk Fine Chemicals Corporation from CABB Group GmbH for approximately $150 million. Anupam Rasayan India Ltd (NSEI:ANURAS) entered into a definitive agreement to acquire Jayhawk Fine Chemicals Corporation from CABB Group GmbH for approximately $150 million on December 9, 2025. The purchase consideration of approximately $150 million includes approximately $16 million of cash and cash-like items for Jayhawk as of June 2025 and existing loans payable to the exiting shareholders. The acquisition will be financed through a mix of internal accruals, debt and quasi equity.
For the period ending December 31, 2024, Jayhawk Fine Chemicals Corporation reported a revenue of $78.3 million and EBITDA of approximately $15 million. The transaction was approved by the board of Anupam Rasayan India Ltd and is expected to close in January to February 2026. The transaction shall be EPS accretive for Anupam.
N M Rothschild & Sons Private Limited acted as financial advisor for Anupam Rasayan India Ltd. Piper Sandler Capital Advisory acted as financial advisor for CABB Group GmbH. Announcement • Oct 14
Anupam Rasayan India Ltd to Report Q2, 2026 Results on Oct 17, 2025 Anupam Rasayan India Ltd announced that they will report Q2, 2026 results on Oct 17, 2025 Announcement • Sep 02
Anupam Rasayan India Ltd, Annual General Meeting, Sep 26, 2025 Anupam Rasayan India Ltd, Annual General Meeting, Sep 26, 2025, at 17:00 Indian Standard Time. New Risk • Aug 15
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 14
First quarter 2026 earnings released: EPS: ₹3.10 (vs ₹0.36 in 1Q 2025) First quarter 2026 results: EPS: ₹3.10 (up from ₹0.36 in 1Q 2025). Revenue: ₹4.91b (up 93% from 1Q 2025). Net income: ₹340.4m (up ₹301.2m from 1Q 2025). Profit margin: 6.9% (up from 1.5% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Aug 09
Anupam Rasayan India Ltd to Report Q1, 2026 Results on Aug 13, 2025 Anupam Rasayan India Ltd announced that they will report Q1, 2026 results on Aug 13, 2025 Price Target Changed • Jul 30
Price target increased by 14% to ₹795 Up from ₹696, the current price target is an average from 7 analysts. New target price is 31% below last closing price of ₹1,149. Stock is up 47% over the past year. The company is forecast to post earnings per share of ₹13.34 for next year compared to ₹8.50 last year. Announcement • Jul 10
Anupam Rasayan India Ltd to Report Q1, 2026 Results on Jul 15, 2025 Anupam Rasayan India Ltd announced that they will report Q1, 2026 results on Jul 15, 2025 Price Target Changed • May 26
Price target decreased by 8.9% to ₹652 Down from ₹715, the current price target is an average from 7 analysts. New target price is 34% below last closing price of ₹992. Stock is up 30% over the past year. The company is forecast to post earnings per share of ₹11.53 for next year compared to ₹8.50 last year. Reported Earnings • May 24
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹8.50 (down from ₹11.89 in FY 2024). Revenue: ₹14.5b (down 1.8% from FY 2024). Net income: ₹933.5m (down 27% from FY 2024). Profit margin: 6.4% (down from 8.7% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.1%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Price Target Changed • May 20
Price target decreased by 8.2% to ₹664 Down from ₹723, the current price target is an average from 7 analysts. New target price is 31% below last closing price of ₹963. Stock is up 23% over the past year. The company is forecast to post earnings per share of ₹9.15 for next year compared to ₹11.89 last year. Announcement • May 16
Anupam Rasayan India Ltd to Report Q4, 2025 Results on May 23, 2025 Anupam Rasayan India Ltd announced that they will report Q4, 2025 results on May 23, 2025 Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: ₹2.57 (vs ₹1.70 in 3Q 2024) Third quarter 2025 results: EPS: ₹2.57 (up from ₹1.70 in 3Q 2024). Revenue: ₹3.87b (up 31% from 3Q 2024). Net income: ₹281.9m (up 53% from 3Q 2024). Profit margin: 7.3% (up from 6.2% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Feb 07
Anupam Rasayan India Ltd to Report Q3, 2025 Results on Feb 13, 2025 Anupam Rasayan India Ltd announced that they will report Q3, 2025 results on Feb 13, 2025 Announcement • Jan 25
Anupam Rasayan India Ltd Announces Directorate Appointments Anupam Rasayan India Ltd. announced that through postal ballot, appointment of Mr. Ketan Paragji Desai, Gen. Bikram Singh, Dr. Madhuri Ajit Sawant and Mr. Anand Rajeshwarrao Chatorikar as non-executive independent directors of the company for a term of 3 years commencing from December 03, 2024 to December 02, 2027. Board Change • Dec 06
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Bikram Singh was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Nov 16
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). High level of non-cash earnings (24% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (5.7% net profit margin). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: ₹1.51 (vs ₹3.78 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.51 (down from ₹3.78 in 2Q 2024). Revenue: ₹2.96b (down 25% from 2Q 2024). Net income: ₹166.7m (down 59% from 2Q 2024). Profit margin: 5.6% (down from 10% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 11
Upcoming dividend of ₹0.75 per share Eligible shareholders must have bought the stock before 18 September 2024. Payment date: 30 October 2024. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.0%). Lower than average of industry peers (0.6%). Announcement • Sep 06
Anupam Rasayan India Ltd, Annual General Meeting, Sep 30, 2024 Anupam Rasayan India Ltd, Annual General Meeting, Sep 30, 2024, at 09:30 Indian Standard Time. Reported Earnings • Aug 14
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: ₹0.36 (down from ₹4.86 in 1Q 2024). Revenue: ₹2.60b (down 33% from 1Q 2024). Net income: ₹39.2m (down 90% from 1Q 2024). Profit margin: 1.5% (down from 10.0% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 24%. Earnings per share (EPS) also missed analyst estimates by 83%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year and the company’s share price has also increased by 2% per year. Announcement • Aug 06
Anupam Rasayan India Ltd to Report Q1, 2025 Results on Aug 13, 2024 Anupam Rasayan India Ltd announced that they will report Q1, 2025 results on Aug 13, 2024 Reported Earnings • May 19
Full year 2024 earnings released: EPS: ₹11.69 (vs ₹17.44 in FY 2023) Full year 2024 results: EPS: ₹11.69 (down from ₹17.44 in FY 2023). Revenue: ₹15.1b (down 6.0% from FY 2023). Net income: ₹1.29b (down 29% from FY 2023). Profit margin: 8.5% (down from 11% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Chemicals industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 14
Price target decreased by 12% to ₹867 Down from ₹986, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of ₹835. Stock is up 36% over the past year. The company is forecast to post earnings per share of ₹12.28 for next year compared to ₹17.44 last year. Reported Earnings • Feb 13
Third quarter 2024 earnings released: EPS: ₹1.70 (vs ₹5.31 in 3Q 2023) Third quarter 2024 results: EPS: ₹1.70 (down from ₹5.31 in 3Q 2023). Revenue: ₹2.96b (down 23% from 3Q 2023). Net income: ₹184.1m (down 57% from 3Q 2023). Profit margin: 6.2% (down from 11% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Announcement • Feb 07
Anupam Rasayan India Ltd to Report Q3, 2024 Results on Feb 12, 2024 Anupam Rasayan India Ltd announced that they will report Q3, 2024 results on Feb 12, 2024 Announcement • Jan 23
Anupam Rasayan India Ltd announced that it has received INR 2.724999276 billion in funding from Zeal Global Opportunities Fund, Zinnia Global Fund PCC, Rehash Industrial and Resins Chemicals Private Limited On , January 23, 2024, Anupam Rasayan India Ltd closed the transaction. The company announced that it has issued 3,914,886 warrants for gross proceeds of INR 924,999,476.865 in its second tranche closing. The transaction has been approved by the board of directors of the company. Board Change • Jan 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Head of Research & Development and Unit II Head & Whole-Time Executive Director Anuj Thakar was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Announcement • Dec 08
Anupam Rasayan India Limited Approves Appointment of Anuj Hemantbhai Thakar as A Whole-Time (Executive) Director Anupam Rasayan India Limited announced at extraordinary general meeting held on December 6, 2023, the shareholders approved appointment of Dr. Anuj Hemantbhai Thakar as a Director of the Company and approved appointment of Dr. Anuj Hemantbhai Thakar as a Whole-Time (Executive) Director of the Company. Board Change • Dec 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Non-Executive Independent Director Namrata Jariwala was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Nov 13
Upcoming dividend of ₹0.50 per share at 0.3% yield Eligible shareholders must have bought the stock before 20 November 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 16% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.8%). Announcement • Nov 09
Anupam Rasayan India Ltd announced that it expects to receive INR 2.724999276 billion in funding from Zeal Global Opportunities Fund, Zinnia Global Fund PCC, Rehash Industrial and Resins Chemicals Private Limited Anupam Rasayan India Ltd announced a private placement of 1,904,540 common shares at a price of INR 945.11 per share and 3,914,886 convertible warrants at a price of INR 236.2775 per warrant for the total gross proceeds of INR 2,724,999,276 on November 7, 2023. Each warrant will be convertible into 1 equity share within a period of 18 months at an exercise price of INR 698.8325 per share. The transaction will include participation from new investors, Zeal Global Opportunities Fund for 1,692,924 warrants, Zinnia Global Fund PCC for 1,692,924 warrants, Rehash Industrial and Resins Chemicals Private Limited for 1,904,540 shares and Lata Manek Bhanshali for 529,038 warrants. The transaction has been approved by the shareholders of the company. The securities will be issued on preferential basis. Announcement • Nov 08
Anupam Rasayan India Ltd Announces Resignation of Milan Ramesh Thakkar as Non-Executive Non-Independent Director Anupam Rasayan India Ltd. announced that Mr. Milan Ramesh Thakkar vide his letter dated November 06, 2023, has tendered his resignation from the position of Non-Executive Non-Independent Director of the Company, with immediate effect i.e. November 06, 2023, due to his pre-occupations and other personal commitments. Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: ₹3.78 (vs ₹4.77 in 2Q 2023) Second quarter 2024 results: EPS: ₹3.78 (down from ₹4.77 in 2Q 2023). Revenue: ₹3.92b (up 1.5% from 2Q 2023). Net income: ₹406.9m (down 2.1% from 2Q 2023). Profit margin: 10% (in line with 2Q 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in India. Announcement • Nov 07
Anupam Rasayan India Ltd Declares First Interim Dividend for the Financial Year 2023-2024, Payable on or Before December 05, 2023 Anupam Rasayan India Ltd. announced that at the board meeting held on November 07, 2023 approved declaration of 1st Interim Dividend of the financial year 2023-2024, of INR 0.50/- @5% per equity share of face value of INR 10/- each. The Record Date for the payment of 1st Interim Dividend of the financial year 2023-24, as November 20, 2023 and payment date on or before December 05, 2023. Announcement • Nov 02
Anupam Rasayan India Ltd to Report Q2, 2024 Results on Nov 07, 2023 Anupam Rasayan India Ltd announced that they will report Q2, 2024 results on Nov 07, 2023 Announcement • Sep 08
Anupam Rasayan India Ltd Appoints Ashish Gupta as Company Secretary and Compliance Officer The Board of Directors of the Anupam Rasayan India Ltd. in its meeting held on September 07, 2023, approved the appointment of Mr. Ashish Gupta as Company Secretary and Compliance Officer of the Company with effect from September 07, 2023. Mr. Ashish Gupta is an associate member of the Institute of Company Secretaries of India and has also completed the Master of Commerce (M.Com.) degree. Prior to his appointment as Company Secretary and Compliance Officer in today's Board meeting, he was acting as Deputy Company Secretary and Compliance Officer of the Company since March 16, 2023. He has an overall experience of almost a decade working with reputed companies in the business of Water Transport, Real Estate and Manufacturing sector. Price Target Changed • Aug 03
Price target decreased by 8.6% to ₹1,005 Down from ₹1,100, the current price target is an average from 7 analysts. New target price is 8.5% above last closing price of ₹926. Stock is up 22% over the past year. The company is forecast to post earnings per share of ₹22.05 for next year compared to ₹20.91 last year. Announcement • Aug 02
Anupam Rasayan India Ltd agreed to acquire ARIL Fluorospeciality Private Limited (AFPL). Anupam Rasayan India Ltd agreed to acquire ARIL Fluorospeciality Private Limited (AFPL) on August 1, 2023. The Board of Directors of the Anupam Rasayan India Ltd has approved the purchase of 10,000 equity shares of face value of INR 10 each, on book value of INR 0.1 million, aggregating to 100% shareholding of AFPL from existing shareholders, with no economic benefit to the sellers. Reported Earnings • Aug 02
First quarter 2024 earnings released: EPS: ₹4.86 (vs ₹3.96 in 1Q 2023) First quarter 2024 results: EPS: ₹4.86. Revenue: ₹3.86b (up 26% from 1Q 2023). Net income: ₹386.0m (down 2.7% from 1Q 2023). Profit margin: 10.0% (down from 13% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in India. Announcement • Jul 26
Anupam Rasayan India Ltd to Report Q1, 2024 Results on Aug 01, 2023 Anupam Rasayan India Ltd announced that they will report Q1, 2024 results on Aug 01, 2023 Upcoming Dividend • May 08
Upcoming dividend of ₹1.50 per share at 0.2% yield Eligible shareholders must have bought the stock before 15 May 2023. Payment date: 02 June 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (0.8%). Price Target Changed • May 05
Price target increased by 10% to ₹1,003 Up from ₹911, the current price target is an average from 7 analysts. New target price is 12% below last closing price of ₹1,139. Stock is up 37% over the past year. The company is forecast to post earnings per share of ₹25.62 for next year compared to ₹20.91 last year. Announcement • May 04
Anupam Rasayan India Limited Declares Third Interim Dividend of the Financial Year 2022-23, Payable on or Before June 01, 2023 Anupam Rasayan India Limited at its meeting held on May 03, 2023, declared 3rd interim dividend of the financial year 2022-23 of INR 1.50 at 15% per equity share of face value of INR 10 each of the Company. Fixed Record Date for the payment of 3rd interim dividend as May 15, 2023 and payment date on or before June 01, 2023. Reported Earnings • May 04
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: ₹20.91 (up from ₹15.22 in FY 2022). Revenue: ₹16.1b (up 51% from FY 2022). Net income: ₹1.81b (up 19% from FY 2022). Profit margin: 11% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.9%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in India. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,057, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 23x in the Chemicals industry in India. Total returns to shareholders of 24% over the past year. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹852, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 23x in the Chemicals industry in India. Total loss to shareholders of 1.1% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₹360 per share. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹742, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 23x in the Chemicals industry in India. Total loss to shareholders of 4.8% over the past year. Simply Wall St's valuation model estimates the intrinsic value at ₹346 per share. Upcoming Dividend • Feb 01
Upcoming dividend of ₹0.60 per share at 0.3% yield Eligible shareholders must have bought the stock before 08 February 2023. Payment date: 25 February 2023. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (0.8%). Reported Earnings • Jan 28
Third quarter 2023 earnings released: EPS: ₹5.31 (vs ₹3.79 in 3Q 2022) Third quarter 2023 results: EPS: ₹5.31 (up from ₹3.79 in 3Q 2022). Revenue: ₹3.83b (up 44% from 3Q 2022). Net income: ₹429.1m (up 13% from 3Q 2022). Profit margin: 11% (down from 14% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Reported Earnings • Jan 28
Third quarter 2023 earnings released: EPS: ₹5.31 (vs ₹3.79 in 3Q 2022) Third quarter 2023 results: EPS: ₹5.31 (up from ₹3.79 in 3Q 2022). Revenue: ₹3.83b (up 44% from 3Q 2022). Net income: ₹429.1m (up 13% from 3Q 2022). Profit margin: 11% (down from 14% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Announcement • Jan 27
Anupam Rasayan India Ltd Approves Dividend for Current Financial Year 2022-23, Payable on or Before February 25, 2023 Anupam Rasayan India Ltd. announced that the Board has declared 2nd interim dividend of current financial year 2022-23 of INR 0.60 at the rate of 6% per equity share of face value of INR 10 each. Fixed Record Date for the payment of 2nd interim dividend as February 08, 2023 and payment date on or before February 25, 2023. Announcement • Jan 21
Anupam Rasayan India Ltd to Report Q3, 2023 Results on Jan 27, 2023 Anupam Rasayan India Ltd announced that they will report Q3, 2023 results at 4:00 PM, Indian Standard Time on Jan 27, 2023 Announcement • Nov 20
Anupam Rasayan India Ltd Receives Commissioning Certificate from Gujarat Energy Development Agency Anupam Rasayan India Ltd. received Commissioning Certificate from Gujarat Energy Development Agency ('GEDA') for capacity of 5.40 MWdc solar power project for CPP client M/s Anupam Rasayan India Limited under 'Captive Power Producer (CPP)' Segment of the Company. Reported Earnings • Oct 30
Second quarter 2023 earnings released: EPS: ₹4.77 (vs ₹3.61 in 2Q 2022) Second quarter 2023 results: EPS: ₹4.77 (up from ₹3.61 in 2Q 2022). Revenue: ₹3.86b (up 55% from 2Q 2022). Net income: ₹415.7m (up 15% from 2Q 2022). Profit margin: 11% (down from 14% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Chemicals industry in India. Announcement • Oct 19
Anupam Rasayan India Ltd to Report First Half, 2023 Results on Oct 27, 2022 Anupam Rasayan India Ltd announced that they will report first half, 2023 results on Oct 27, 2022 Upcoming Dividend • Aug 26
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 02 September 2022. Payment date: 13 October 2022. Payout ratio is a comfortable 9.4% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (0.7%). Price Target Changed • Jul 27
Price target increased to ₹988 Up from ₹920, the current price target is an average from 5 analysts. New target price is 32% above last closing price of ₹748. Stock is up 4.3% over the past year. The company is forecast to post earnings per share of ₹20.93 for next year compared to ₹15.22 last year. Reported Earnings • Jul 26
First quarter 2023 earnings released: EPS: ₹3.96 (vs ₹3.21 in 1Q 2022) First quarter 2023 results: EPS: ₹3.96 (up from ₹3.21 in 1Q 2022). Revenue: ₹2.97b (up 27% from 1Q 2022). Net income: ₹396.9m (up 24% from 1Q 2022). Profit margin: 13% (in line with 1Q 2022). Over the next year, revenue is forecast to grow 37%, compared to a 17% growth forecast for the industry in India. Announcement • Jul 25
Anupam Rasayan India Ltd. Declares Interim Dividend for the Financial Year 2022-23, Payable on or Before August 23, 2022 Anupam Rasayan India Ltd. declared 1st interim dividend of current financial year 2022-23 of INR 0.40 @ 4% per equity share of face value of INR 10.00 each. Fixed Record Date for the payment of 1st interim dividend as August 4, 2022 and payment date on or before August 23, 2022. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 15% share price gain to ₹739, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 24x in the Chemicals industry in India. Total loss to shareholders of 9.1% over the past year. Price Target Changed • Jun 08
Price target decreased to ₹955 Down from ₹1,064, the current price target is an average from 4 analysts. New target price is 49% above last closing price of ₹642. Stock is down 15% over the past year. The company is forecast to post earnings per share of ₹23.50 for next year compared to ₹15.22 last year. Reported Earnings • May 15
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: ₹15.22 (up from ₹8.56 in FY 2021). Revenue: ₹10.8b (up 33% from FY 2021). Net income: ₹1.52b (up 117% from FY 2021). Profit margin: 14% (up from 8.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 43%, compared to a 21% growth forecast for the industry in India. Announcement • May 07
Anupam Rasayan India Limited to Report Q4, 2022 Results on May 12, 2022 Anupam Rasayan India Limited announced that they will report Q4, 2022 results on May 12, 2022 Price Target Changed • Apr 27
Price target increased to ₹1,064 Up from ₹887, the current price target is an average from 4 analysts. New target price is 27% above last closing price of ₹841. Stock is up 31% over the past year. The company is forecast to post earnings per share of ₹18.44 for next year compared to ₹8.56 last year. Major Estimate Revision • Apr 09
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from ₹16.02 to ₹18.43. Revenue forecast unchanged at ₹10.7b. Net income forecast to grow 75% next year vs 22% growth forecast for Chemicals industry in India. Consensus price target of ₹1,064 unchanged from last update. Share price was steady at ₹840 over the past week. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment improved over the past week After last week's 15% share price gain to ₹909, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 26x in the Chemicals industry in India. Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹3.79 (up from ₹2.65 in 3Q 2021). Revenue: ₹2.66b (up 45% from 3Q 2021). Net income: ₹379.0m (up 75% from 3Q 2021). Profit margin: 14% (up from 12% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 32%, compared to a 20% growth forecast for the industry in India. Announcement • Feb 03
Anupam Rasayan India Limited Appoints Vishal Thakkar as Deputy Chief Financial Officer and Key Managerial Personnel Anupam Rasayan India Limited announced that at its board meeting held on February 1, 2022 has appointed Mr. Vishal Thakkar as Deputy Chief Financial Officer and Key Managerial Personnel (KMP) of the company. He is having 20 years of experience of working with global companies like Hazira LNG and Port (Shell and Total Joint Venture), Essar Investments Ltd., GE Capital, CRISIL Research, etc. He has extensive experience in corporate finance, fund raising, treasury management, business development, M&A, commercial negotiations and contract management. Board Change • Dec 06
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Independent Director Namrata Jariwala was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS ₹3.21 (vs ₹0.05 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹238.0m (up 77% from 1Q 2021). Net income: ₹32.1m (up ₹31.9m from 1Q 2021). Profit margin: 14% (up from 0.2% in 1Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • Jun 14
Full year 2021 earnings released: EPS ₹8.56 (vs ₹6.94 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2021 results: Revenue: ₹8.37b (up 58% from FY 2020). Net income: ₹703.0m (up 33% from FY 2020). Profit margin: 8.4% (down from 10.0% in FY 2020). The decrease in margin was driven by higher expenses. 
