Aarti Industries announced the signing of a long-term agreement with a multinational conglomerate for supply of a niche speciality chemical. The contract entails supply over a period of four years and is anticipated to generate revenue of over Rs. 6000 crore for the Company.
The customer is a part of a multinational conglomerate having diversified business interests. AIL has established robust relationships with this customer and has been supplying the said product for the past five years. While the association has developed over the years, this contract serves to reinforce and deepen the relationship over a medium to long-term duration. The product has been an integral part to AIL's long-term growth strategy, and its volume has consistently increased over the past 4-5 years. AIL's ongoing capital expenditure programs will meet the contract requirements, and hence, AIL does not anticipate any additional capital expenditure for this contract.