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Rossari Biotech announces Q1 FY22 results

Posted On: 2021-07-31 10:36:09 (Time Zone: UTC)

Rossari Biotech Limited (Rossari), a Speciality-Chemicals manufacturer providing intelligent and sustainable solutions for customers across industries, has announced its financial results for the quarter ended June 30, 2021.

Q1 FY22 performance overview compared with Q1 FY21

- Revenues from operations stood at Rs. 231.11 crore as against Rs. 109.47 crore, higher by 111.12%

- EBITDA at Rs. 37.12 crore as against Rs. 23.74 crore, up by 56.33%

- PAT stood at Rs. 24.55 crore as against Rs. 15.49 crore, higher by 58.40%

- EPS (Diluted) stood at Rs. 4.49 as against Rs. 3.14

Commenting on the performance, in a joint statement, Mr. Edward Menezes, Promoter & Executive Chairman, and Mr. Sunil Chari, Promoter & Managing Director, said: "The new fiscal year began on an encouraging note, with solid gains across businesses. While the quarter gone by witnessed a challenging operating environment due the second wave of the COVID-19 pandemic, the demand and offtake across our HPPC, TSC and AHN divisions broadly remained steady. Our HPPC business demonstrated strong growth led by robust volumes in hygiene products and anti-viral portfolio, supported by consistent demand in key end user categories. Although broader operating constraints due to the lockdown restrictions moderated growth of our TSC business sequentially, we have started witnessing sustained improvement in sales from June onwards. In addition, higher consumption in the AHN segment assisted our overall results. Consolidated revenues in the quarter stood higher by 111.12% YoY and PAT up by 58.40% YoY. Our profitability margins also remained within healthy levels.

2021 has been yet another milestone year in Rossari's growth story. In the last two months, we have announced strategic acquisitions of two high-quality & high-potential companies in the Speciality Chemical space viz. Unitop Chemicals and Tristar Intermediates. These acquisitions bring in multitude of synergies such as expanded product portfolio, stronger presence in new markets, cross-selling opportunities, and access to newer technologies, capacity and talent. Our primary focus area in the coming quarters will be towards seamlessly integrating these into our business model, thus accelerating the growth momentum at Rossari.

Our constant endeavor is to drive operational excellence across our businesses at all times. In the last few years, we have undertaken several growth initiatives, which we believe will lead to stronger growth in the quarters ahead. From a demand perspective, improved recovery in the domestic economy should further support momentum. Overall, with the blend of capabilities from recent acquisitions and with our robust & resilient organic business, the outlook remains positive in the medium-to-longer term."

Source: Equity Bulls

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