Rossari Biotech Consolidated Revenue From Operation At ₹410.6 Cr in Q1FY24

Rossari Biotech Limited (Rossari), a Specialty-Chemicals manufacturer providing intelligent and sustainable solutions for customers across industries, has announced its financial results for the quarter ended June 30, 2023, the company on Saturday announced through an exchange filing.

Consolidated: Q1FY24 performance overview compared with Q1FY23

i) Revenue from operations stood at ₹410.6 crore as against ₹434.7 crore.

ii) EBITDA at ₹57.7 crore as against ₹57.8 crore.

iii) EBITDA margin at 14.1 percent as against 13.3 percent.

iv) PAT stood at Rs. 29.3 crore as against Rs. 28.7 crore.

Standalone: Q1FY24 performance overview compared with Q1FY23

i) Revenue from operations stood at ₹258.3 crore as against ₹233.7 crore.

ii) EBITDA at ₹35.1 crore as against ₹27.1 crore.

iii) EBITDA margin at 13.6 percent as against 11.6 percent.

iv)PAT stood at ₹21.6 crore as against ₹15.4 crore.

"We have recorded a steady performance during the quarter, demonstrating the resilience and adaptability of our business model amidst a challenging global economic landscape. Our commitment to sustainable and innovative solutions has kept us in a stable position despite the current subdued demand scenario witnessed in the chemical markets," said Edward Menezes, Promoter & Executive Chairman, and Sunil Chari, Promoter & Managing Director.

"As a part of its digitisation initiatives, the Company during the quarter went live on SAP S/4 HANA across the Group. For the purpose of this transformation to a new ERP, the Company had taken about a week’s planned shutdown in April and then about another week for system stabilisation. We are happy to inform that the entire process happened seamlessly and the system is running smoothly. This planned migration resulted in lower sales in April 2023," added.

Rossari Biotech Limited shares

The shares of Rossari Biotech Limited on Friday at 3:30pm IST were at ₹872, down by 1.08 percent.