Chairman Edward Menezes and Managing Director Sunil Chari said the growth was primarily driven by a robust and continued uptick in sales in the home, personal care and performance chemicals (HPCC) segment led by higher offtake in hygiene products and anti-viral portfolio sales.
"We are confident that stabilisation of demand environment and improved consumption will lead to stronger and sustainable growth in the quarters ahead," they said in a joint statement.
In addition, normalisation in demand and improved consumption across textile specialty chemicals, and animal health and nutrition segments assisted overall results.
For FY 2020-21, the board of directors has recommended a dividend of Rs 0.50 per share.
The company has operationalised a new manufacturing unit at Dahej in Gujarat with an installed capacity of 1.32 lakh tonnes per annum to double its capacity.
Rossari Biotech expects to sustainably ramp up utilisation levels at the Dahej unit over the next three to four years. It will be further augmented by R & D, automation, administration and other corporate facilities in coming quarters.
The board of directors has also approved allotment of 30.12 lakh equity shares with a face value of Rs 2 each on preferential basis with a floor price of Rs 996 per unit aggregating to Rs 300 crore.
The company plans to utilise net proceeds to invest in inorganic growth opportunities within its core chemistries.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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