Rossari Biotech Limited, a specialty chemicals manufacturer providing intelligent and sustainable solutions for customers across industries, has announced Q1 FY23 revenue of Rs. 434.71 crore for the quarter ended June 30, 2022, up 88% in comparison to Q1 FY22.

Profit after Tax (PAT) was up 18% for Q1 FY23 to reach Rs. 28.7 crore whereas EBITDA was up 52% to reach Rs. 57.7 crore.    

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 subdued demand macro- environment. On a standalone basis, we marked growth of 15% on a Y-o-Y basis. Our acquired businesses, Unitop, Tristar, and Romakk Chemicals, too, delivered improved performance in the quarter. Overall, on a consolidated basis, our total revenue from operations stood at Rs. 435 crore."

"On the profitability front, we delivered healthy margins during the quarter backed by price increases and softening of raw material prices. Our gross margins grew by 246 bps and EBITDA margins grew by 136 bps Q-o-Q. Currently, we are witnessing signs of tapering of key input prices as well as stabilising supply chains. A normalised operating environment, along with our cost optimisation initiatives should enable us to improve margins, going ahead," commented Menezes and Chari.

"In the past many years, we have seeded multiple new business lines with an emphasis towards sustainability and environment-friendliness. These product niches have been well appreciated by our customers and we have seen this reflect in the growth of our overall customer base. Our endeavour is to further amplify our leadership position and strengthen foothold across product categories," they said.

 "There is ample growth potential for all our business verticals and acquired businesses in both the domestic and international markets and we are optimistic of tapping upon these opportunities, going forward. In a stabilised environment, we look forward to delivering strong and sustainable growth across verticals," they commented.  

"The specialty chemicals industry in India is fast progressing with multiple strong growth prospects ahead. With a strong balance sheet, adequate manufacturing capacities and a solid product portfolio, we are well-poised to capitalize on the upcoming opportunities in this space,” added Menezes and Chari.