External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

External broker reports(aggregated public sources)

A Relationship Beyond Broking

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Equity Bottom-Up

<div><div><div><div><ul><li>ROSSARI has taken some price hikes from March’22 in order to cope with the ongoing inflationary challenges.</li><li>Formulations business is the core strength of ROSSARI’s business model and inability to pass on the cost impact would mean margin pressure for two more quarters</li></ul><ul style="list-style-type: none;"><li> </li></ul></div></div></div></div><div><div><div><div><ul><li>On a consolidated basis, the management has guided for Rs20bn revenue and Rs2.5bn EBITDA for FY23.</li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

ROSSARI has taken some price hikes from March’22 in order to cope with the ongoing inflationary challenges.Formulations business is the core strength of ROSSARI’s business model and inability to pass on the cost impact would mean margin pressure for two more quarters On a consolidated basis, the management has guided for Rs20bn revenue and Rs2.5bn EBITDA for FY23.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Rossari Biotech: Complete Pass-Through Is a Challenge in Formulations Biz

<div><div><div><div><ul><li>4QFY22 earnings performance: ROSSARI’s 4QFY22 consolidated revenue growth of 101% YoY was broadly in line with our estimate.</li></ul><div><div><div><div><ul><li>HPPC/TSC/AHN grew by 180%/25%/17% YoY, including acquisitions. Unitop and Tristar revenue came in at Rs1,240mn and Rs495mn, respectively in 4QFY22, with EBITDA margin coming in at ~15% and ~12%, respectively.</li></ul><div><div><div><div><ul><li>The share of HPPC revenue increased from 50% in 4QFY21 to 69% in 4QFY22.</li></ul></div></div></div></div></div></div></div></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

4QFY22 earnings performance: ROSSARI’s 4QFY22 consolidated revenue growth of 101% YoY was broadly in line with our estimate.HPPC/TSC/AHN grew by 180%/25%/17% YoY, including acquisitions. Unitop and Tristar revenue came in at Rs1,240mn and Rs495mn, respectively in 4QFY22, with EBITDA margin coming in at ~15% and ~12%, respectively.The share of HPPC revenue increased from 50% in 4QFY21 to 69% in 4QFY22.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Rossari Biotech - Complete Pass-Through Is a Challenge in Formulations Biz

India

Rossari Biotech Limited manufactures specialty chemicals, textile, and animal health and nutritional products. The Company offers personal care, soaps, detergents, paints and coatings, and water treatment chemicals, as well as produces cotton, polyester, acrylic, and other textile specialty products. Rossari Biotech serves customers worldwide.

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Rossari Biotech (ROSSARI IN)

Rossari Biotech: Complete Pass-Through Is a Challenge in Formulations Biz

We hosted Rossari Biotech’s (ROSSARI) management at our Annual Investor Conference in order to understand the overall demand outlook across segments

Nirmal Bang

Rossari Biotech - Complete Pass-Through Is a Challenge in Formulations Biz

RM inflation and increase in other costs like solvents, power & fuel etc has affected the margin profile of the business meaningfully for the last...

Nirmal Bang

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