$150 Million Acquisition: Anupam Rasayan acquires US-based firm Jayhawk Fine Chemicals

Synopsis: The shares of this small-cap chemical stock are in focus after it acquired Jayhawk Fine Chemicals for about $150 million in a strategic move to operate onshore manufacturing plants in the U.S. and more. 

This company, which is engaged in the manufacturing of speciality chemicals, which are sold locally as well as exported to other countries, had its shares in the news following the announcement of this strategic acquisition, benefiting the company in the international markets. 

With the market cap of Rs 15,027 crore, the shares of Anupam Rasayan India Ltd had hit its intraday high at Rs 1,333.30, rising by about 3 per cent compared to its previous day closing price of Rs 1294.15 . The shares are trading at a PE of 99, whereas its industry PE is at 30, and have given a return of 71 per cent in the last 1 year. 

About the Acquisition. 

Anupam Rasayan’s decision to acquire Jayhawk Fine Chemicals for about $150 million is a major step in its global expansion strategy. The deal gives the company an additional advantage in the U.S. speciality chemicals market, with Jayhawk bringing $78 million in revenue and $15 million EBITDA in CY24, valuing the transaction at roughly 9x EV/EBITDA. It will be funded through internal accruals, debt, and support from a global investment firm managing over $100 billion and is expected to be EPS accretive.

For Anupam, Jayhawk adds advanced chemistries, strong U.S. operations, and deep customer relationships across sectors like semiconductors, electronics, aviation, and performance materials. The acquisition also strengthens its value chain by building on the earlier Tanfac deal, by enabling forward integration into high-value N-1 molecules and by opening new global customer opportunities.

Together, Jayhawk’s cutting-edge R&D and onshore capabilities, combined with Anupam’s cost-efficient Indian manufacturing base, create a powerful dual-site model. This will help the company innovate faster, scale more efficiently, and offer global clients flexible, integrated supply solutions, marking a transformative moment in Anupam Rasayan’s journey toward becoming a leading global CDMO player.

Financials and more. 

The revenue from operations for the company stands at Rs 731 crores in Q2 FY26 compared to Q2 FY25 revenue of Rs 294 crores, growing by about 148 per cent YoY. Similarly, the net profit stood at Rs 57 crore in Q2 FY26, up from Rs 31 crore in Q2 FY25, giving an increase of about 84 per cent. The company has a strong orderbook of Rs 14,646 crores. 

Anupam Rasayan’s revenue mix shows how well-diversified the company has become, with agrochemicals making up the largest share at 56%, followed by a solid 23% contribution from the pharma segment. Its performance materials business adds another 16%, while personal care accounts for 5%, reflecting a steady presence across both essential and innovation-driven sectors. 

What really stands out is the company’s global client base of partners, like Syngenta, Adama, DuPont, Sumitomo Chemical, and Nissei Corporation, which highlights the trust major international players place in Anupam’s capabilities. Together, the strong revenue spread and marquee clients underline its growing reputation as a reliable speciality chemicals partner worldwide.

Anupam Rasayan positions itself as a one-stop solution for speciality chemical manufacturing, with a strong focus on custom synthesis and high-value performance materials. The company works extensively in life science–related chemistries and complex multi-step processes, catering to a wide range of Indian and global clients who rely on its technical expertise. 

What sets Anupam apart is its capability in advanced technologies, including large-scale continuous and flow chemistry, an area where only a handful of Indian manufacturers operate commercially. This mix of deep chemistry know-how, diverse customer reach, and modern manufacturing processes reinforces its standing as a key player in India’s speciality chemicals landscape.

Written by Leon Mendonca. 

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