Rossari Biotech posts 37% revenue growth in Q4 at Rs 218 crore

Speciality chemicals manufacturer Rossari Biotech has posted 37 per cent increase in its revenues from operations during the quarter ended March at Rs 218 crore as against Rs 160 crore in the year-ago period.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) moved up 47 per cent to Rs 35 crore from Rs 24 crore.

Profit after tax too jumped by 47 per cent to Rs 22 crore in Q4 FY21 from Rs 15 crore in Q4 FY20. Earnings per share stood at Rs 4.29 as against Rs 3.06.

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.)


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel