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Speciality Chemicals company Rossari Biotech announced consolidated Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Revenue from operations grew 16.3% to Rs 472.7 crore as compared to Rs 406.5 crore
- EBITDA improved by 16.5% to Rs 63.6 crore from Rs 54.6 crore
- EBITDA margin at 13.5% as against 13.4%
- PAT increased by 17.8% to Rs 34.1 crore from Rs 28.9 crore
- EPS (Diluted) stood at Rs 6.17 as against Rs 5.24
FY24 Financial Highlights:
- Revenue from operations stood at Rs 1,830.6 crore as against Rs 1,655.9 crore, up 10.5%
- EBITDA increased by 12% to Rs 249.8 crore as against Rs 223.0 crore
- EBITDA margin at 13.6% as against 13.5%
- PAT higher by 21.8% to Rs 130.7 crore as against Rs 107.3 crore
- EPS (Diluted) stood at Rs 23.62 as against Rs 19.38
Commenting on the performance, in a joint statement, Edward Menezes, Promoter & Executive Chairman, and Sunil Chari, Promoter & Managing Director, said “We are pleased to conclude the year on a strong note, with a healthy YoY increase in revenues and profits, standing at 10.5% and 21.8%, respectively. This performance was largely driven by the expansion in our HPPC business. Price softening impacted TSC revenues however volumes have remained steady during the year. AHN performance was lower due to external industry headwinds. We remain optimistic about the recovery of these divisions in the upcoming year.
The HPPC division achieved a robust growth of 18%, underpinning the efforts put in by our team to drive performance in a challenging operating environment. We have notably increased our customer base for key products which led to growth during the year. Additionally, we registered a strong performance in our export markets by targeting new customers in both new and existing geographies, further strengthening our international presence. We also achieved substantial success in our Institutional Cleaning segment, which we expect to be an important growth vertical moving forward. This segment caters to large sectors like airports, railways, hotels, and healthcare, providing a strong base for future expansion.
Our growth strategy remains focused on seeding new verticals within our core chemistries, across our three business divisions. Our focus remains on surfactants, phenoxy series, institutional cleaning, performance chemicals etc. In TSC also, we are looking at tapping newer geographies and markets. Our plan remains to enhance our global footprint with our existing and new products and increase our wallet share with our partneRs
As we move forward, we aim to leverage our R&D expertise and strengthen our position as a leading specialty chemicals manufacturer providing intelligent and sustainable solutions. Our strong balance sheet, expanding capacities & market presence, and diverse portfolio give us a solid foundation to capitalize on opportunities within various key industries. We remain a growth-oriented company and believe this strategy will enable us to create significant value for all our stakeholders in the years to come.”
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