Q1FY23 Quarterly Result Announced for Rossari Biotech Ltd.
Specialty Chemicals firm Rossari Biotech announced Q1FY23 Result : Revenues at Rs. 434.71 Cr EBITDA improves by 11% QoQ to Rs. 57.73 Cr PAT at Rs. 28.68 Cr, higher by 19% QoQ Consolidated: Revenues from operations stood at Rs. 434.71 crore as against Rs. 438.93 crore EBITDA at Rs. 57.73 crore as against Rs. 52.31 crore EBITDA margin at 13.3% as against 11.9% PAT stood at Rs. 28.68 crore as against Rs. 24.08 crore EPS (Diluted) stood at Rs. 5.18 as against Rs. 4.35 Standalone: Revenues from operations stood at Rs. 233.73 crore as against Rs. 261.64 crore EBITDA at Rs. 27.06 crore as against Rs. 27.46 crore EBITDA margin at 11.6% as against 10.5% PAT stood at Rs. 15.36 crore as against Rs. 16.87 crore EPS (Diluted) stood at Rs. 2.78 as against Rs. 3.05 Commenting on the performance for the quarter, in a joint statement, Mr. Edward Menezes, Promoter & Executive Chairman, and Mr. Sunil Chari, Promoter & Managing Director, said “We have delivered steady performance during the quarter despite a subdued demand macroenvironment. On a standalone basis, we marked growth of 15% on YoY basis. Our acquired businesses, Unitop, Tristar, and Romakk Chemicals, too, delivered improved performance in the quarter. Overall, on a consolidated basis, our total revenue from operations stood at Rs. 435 crores. On the profitability front, we delivered healthy margins during the quarter backed by price increases and softening of raw material prices. Our gross margins grew by 246 bps and EBITDA margins grew by 136 bps QoQ. Currently, we are witnessing signs of tapering of key input prices as well as stabilising supply chains. A normalised operating environment, along with our cost optimisation initiatives should enable us to improve margins, going ahead. In the past many years, we have seeded multiple new business lines with an emphasis towards sustainability and environment-friendliness. These product niches have been well appreciated by our customers and we have seen this reflect in the growth of our overall customer base. Our endeavour is to further amplify our leadership position and strengthen foothold across product categories. There is ample growth potential for all our business verticals and acquired businesses in both the domestic and international markets and we are optimistic of tapping upon these opportunities, going forward. In a stabilised environment, we look forward to delivering strong and sustainable growth across verticals. The Specialty Chemicals industry in India is fast progressing with multiple strong growth prospects ahead. With a strong balance sheet, adequate manufacturing capacities and a solid product portfolio, we are well-poised to capitalize on the upcoming opportunities in this space.” Result PDF08-08-2022