Rossari Biotech logs lackluster Q1FY23 performance; Stock marginally up

8 Aug 2022 , 09:20 AM

Rossari Biotech Limited has announced its financial results for the quarter ended June 30, 2022.

Consolidated: Q1 FY23 performance overview compared with Q4 FY22

• Revenues from operations stood at Rs434.71 crore as against Rs438.93 crore 
• EBITDA at Rs57.73 crore as against Rs52.31 crore, EBITDA margin at 13.3% as against 11.9%
• PAT stood at Rs28.68 crore as against Rs24.08 crore
• EPS (Diluted) stood at Rs5.18 as against Rs4.35

Standalone Highlights: Q1 FY23 performance overview compared with Q4 FY22

• Revenues from operations stood at Rs233.73 crore as against Rs261.64 crore
• EBITDA at Rs27.06 crore as against Rs27.46 crore, EBITDA margin at 11.6% as against 10.5%
• PAT stood at Rs15.36 crore as against Rs16.87 crore
• EPS (Diluted) stood at Rs2.78 as against Rs3.05

Commenting on the performance for the quarter, in a joint statement, 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 macro-environment. On a standalone basis, we marked growth of 15% on Y-o-Y basis. 

Our acquired businesses, Unitop, Tristar, and Romakk Chemicals also delivered healthy performance in the quarter. Overall, on a consolidated basis, our total revenue from operations stood at Rs435 crore.

On the profitability front, during the quarter, we registered healthy margins supported by price increases and softening of raw material prices. Our gross margins grew by 246 bps and EBITDA margins grew by 136 bps qoq."

At around 9:18 AM, Rossari Biotech was trading at Rs956.40 per share up by Rs4.25 or 0.45% from its previous closing of Rs952.15 per share on the BSE.