Shares of the chemical manufacturer have fallen sharply in recent days after Rainbow Agro entered the pyroxasulfone market with a substantial 2,000-tonne project approval
The revenue of the custom synthesis manufacturing (CSM) segment of the company increased by 27% to Rs 1,632 crore in the September quarter as it gained market share from glyphosate. CSM, which contributes over 75% to the revenue, is a unique business model where it provides product development services to innovator companies along with manufacturing in bulk scale. The revenue growth of the CSM business excluding the pharma acquisition was 22%.