Rossari Biotech tumbles 10% despite double growth in revenue to Rs428.4 crore in Q3FY22

15 Feb 2022 , 09:35 AM

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 and nine months ended December 31, 2021.

The company’s revenues from operations stood at Rs428.4 crore in Q3FY22 as against Rs210.0 crore in Q3FY21, a rise of 104% yoy. EBITDA at Rs46.7 crore as against Rs34.0 crore.

EBITDA margin at 10.9% as against 16.2%.

Profit After Tax (PAT) stood at Rs22.5 crore in Q3FY22 as against Rs21.6 crore in Q3FY21, a rise of 4% yoy.

EPS (Diluted) stood at Rs4.07 as against Rs4.11.

Revenues from operations stood at Rs1044 crore in 9MFY22 as against Rs491.1 crore in 9MFY21.

EBITDA at Rs127.8 crore as against Rs87.8 crore, higher by 45.6%. EBITDA margin at 12.2% as against 17.9%. PAT stood at Rs73.3 crore in 9MFY22 as against Rs57.8 crore in 9MFY21, higher by 26.7%.

EPS (Diluted) stood at Rs13.29 as against Rs11.12.

Rossari registered steady organic revenue growth of 30.6% in Q3FY22 and 65.8% in 9MFY22.

At around 9.40 AM, Rossari Biotech Ltd was trading at Rs1,016.45 per piece down by Rs115.8 or 10.23% per piece from its previous closing of Rs1,132.25 on the BSE. from its previous closing of Rs1,132.25 per share on the BSE.

Commenting on the performance for the quarter, in a joint statement, Edward Menezes, Promoter & Executive Chairman, and Sunil Chari, Promoter & Managing Director, said: “We have delivered steady performance during the quarter despite a challenging inflationary macro-environment. Our HPPC business reported healthy yoy sales growth supported by stable traction in FMCG, anti-viral & personal hygiene product portfolio volumes. TSC and AHN segments also delivered yoy topline growth driven by a pickup in demand in domestic and export markets. We are pleased to share that this is the first full quarter of consolidation of our recent acquisitions of Unitop and Tristar in Rossari’s performance. Both these companies delivered growth during the period, which assisted overall performance.

The raw material situation remained challenging in Q3 as well. In order to offset these persistent raw material pressures, we have been undertaking price hikes wherever possible. However, raw material volatility has impacted our profitability performance during the quarter.

On the business front, our latest acquisition of Romakk Chemicals has now been consolidated with effect from December 01, 2021. The timely integration of Romakk will further strengthen our presence in the textile and Home and Personal Care segment, going forward.”