Rossari Biotech Ltd.
Q3FY23 Quarterly Result Announced for Rossari Biotech Ltd.
Specialty chemical firm Rossari Biotech announced Q3FY23 results:
- Consolidated Q3FY23 vs Q2FY23:
- Revenue from operations stood at Rs 389.3 crore as against Rs 425.4 crore.
- EBITDA at Rs 54.2 crore as against Rs 56.5 crore.
- EBITDA margin at 13.9% as against 13.3%
- PAT stood at Rs 25.7 crore as against Rs 23.9 crore.
- EPS (Diluted) stood at Rs 4.6 as against Rs 4.3.
- Consolidated 9MFY23:
- Revenue from operations stood at Rs 1,249.4 crore as against Rs 1,044.0 crore.
- EBITDA at Rs 168.4 crore as against Rs 131.1 crore.
- EBITDA margin at 13.5% as against 12.6%.
- PAT stood at Rs 78.3 crore as against Rs 73.3 crore.
- EPS (Diluted) stood at Rs 14.1 as against Rs 13.3.
- Standalone Q3FY23 vs Q2FY23:
- Revenue from operations stood at Rs 236.9 crore as against Rs 240.9 crore
- EBITDA at Rs 31.9 crore as against Rs 27.9 crore
- EBITDA margin at 13.5% as against 11.6%
- PAT stood at Rs 17.5 crore as against Rs 15.4 crore
- EPS (Diluted) stood at Rs 3.2 as against Rs 2.8
Commenting on the performance, in a joint statement, Mr. Edward Menezes, Promoter & Executive Chairman, and Mr. Sunil Chari, Promoter & Managing Director, said “We have reported a stable performance during the quarter despite the ongoing challenging operating environment. All our standalone segments, including HPPC, Textile, and AHN, have reported stable performance. However, our subsidiaries witnessed a slowdown due to subdued demand, leading to lower consolidated HPPC sales during the quarter.
We achieved an improvement in margins on a quarter-over-quarter basis in Q3FY23, supported by moderating raw material costs. Our gross margins increased by 95 bps and EBITDA margins improved by 62 bps, reaching 30.0% and 13.9% respectively. We have been prudently expanding our business with a focus on products with better margins. We are now seeing some stabilization in the market and we look to continue with our growth plans in the coming quarters.
Over the years, our commitment to R&D has been instrumental in establishing Rossari as a leader in the industry. We have a proven track record of developing innovative and customized chemical solutions for customers across various industries. Additionally, the integration of the acquired companies into our R&D efforts has further augmented our technical capabilities.
With a strong focus on R&D, a solid balance sheet, ample capacity, and a comprehensive product portfolio, Rossari are well-positioned to pursue opportunities in the industry. We remain optimistic that a stabilized macroeconomic environment will drive long-term sustainable growth and enable us to deliver a stronger performance in the future”