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Rossari Biotech reports 38% PAT growth in Q2FY24

Oct 23, 2023

By: BlinkX Research Team

Rossari Biotech Limited, a specialty-chemicals manufacturer has announced its financial results for the quarter ended September 30, 2023.

Consolidated Q2 FY24 performance overview

• Revenue from operations stood at ₹483.5cr as against ₹425.4cr 
• EBITDA at ₹63.6cr as against ₹56.5cr 
• EBITDA margin at 13.2% as against 13.3% 
• PAT stood at ₹32.9cr as against ₹23.9cr 
• EPS (Diluted) stood at ₹6.0 as against ₹4.3

Consolidated H1 FY24 performance overview

• Revenue from operations stood at ₹894.1cr as against ₹860.1cr 
• EBITDA at Rs 121.3 crore as against ₹114.3cr 
• EBITDA margin at 13.6% as against 13.3% 
• PAT stood at ₹62.2cr as against ₹52.6cr 
• EPS (Diluted) stood at ₹11.2 as against ₹9.5

Commenting on the Q2 FY2024 performance, in a joint statement, Edward Menezes, Promoter & Executive Chairman, and Sunil Chari, Promoter & Managing Director, said "We are pleased to report a record quarter for Rossari, with the best ever performance both in terms of Revenue and Profits. The flag bearers for this strong performance were our core HPPC and TSC division. 

While HPPC grew by 21%, TSC was up 5% in revenue as compared to the corresponding quarter in the previous year. In the AHN division, we witnessed subdued performance due to seasonal softness in demand. 

Overall, the results for this quarter underscore the resilience and adaptability of our business model. We believe that our strategic emphasis on customer diversification, improving our capacity utilization and continuous R&D initiatives, positions us favourably to ensure sustainable operational and financial performance in the future.”

At around 9:35 AM, shares of Rossari Biotech were trading in the green by 0.04% at Rs 821.90 per share on the BSE.