About Rossari Biotech
Rossari Biotech manufactures textile specialty chemicals. It provides customized solutions to the apparel, animal & poultry feed, and FMCG industries by offering a diversified product portfolio.
Latest Rossari Biotech News
Oct 28, 2023
KR Choksey recommended accumulate rating on Rossari Biotech with a target price of Rs 843 in its research report dated October 27, 2023. Broker Research Accumulate KR Choksey's research report on Rossari Biotech On a consolidated basis, Rossari Biotech reported revenue of INR 4,835 Mn in Q1FY24, up by 13.6% YoY and 17.7% QoQ. This is driven by strong double-digit growth in the Home, Personal Care, and Performance Chemicals (HPPC) segment. For H1FY24, revenue grew 3.9% YoY to INR 8,941 Mn. EBITDA for the quarter grew by 12.4% YoY and 10.1% QoQ to INR 636 Mn, primarily led by higher revenue. EBITDA margin contracted by 15 bps YoY and 92 bps QoQ to 13.1%. For H1FY24, EBITDA improved by 6.2% YoY to INR 1,213 Mn. Net Profit reported at INR 329 Mn for the quarter, higher by 37.8% YoY and 12.8% QoQ. NPM stood at 6.8% (+119 bps YoY/-30 bps QoQ). Net Profit for H1FY24 grew by 18.2% YoY to INR 622 Mn. Outlook We lower our target price to INR 843/share (P/E multiple of 26.0x to FY25E EPS) from INR 982/share, to account for the EPS reduction, and downgrade our rating to ACCUMULATE (upside: 13.0%). Despite top-line momentum, the persistent margin pressure raises near-term concerns. We view current levels as a good opportunity to add to existing positions, with modest upside.
Rossari Biotech Frequently Asked Questions (FAQ)
When was Rossari Biotech founded?
Rossari Biotech was founded in 2003.
Where is Rossari Biotech's headquarters?
Rossari Biotech's headquarters is located at 201 A & B, Ackruti Corporate Park, Mumbai.
What is Rossari Biotech's latest funding round?
Rossari Biotech's latest funding round is IPO.