Rossari Biotech reported a 47.1% jump in consolidated net profit to Rs 22.2 crore on a 36.8% rise in net sales to Rs 218.22 crore in Q4 FY21 over Q4 FY20.
On a consolidated basis, profit before tax jumped 46.3% to Rs 29.91 crore in Q4 FY21 as against Rs 20.44 crore registered in Q4 FY20.During the quarter, the company successfully commissioned all phases of its greenfield manufacturing facility at Dahej, Gujarat. The unit has a total installed capacity 132,500 MTPA, enhancing the total capacity of Rossari by 2.1 times to 252,500 MTPA. The company expects to sustainably ramp-up utilization levels at the Dahej unit over the next 3-4 years.
EBITDA jumped 46.7% year on year to Rs 35.2 crore in Q4 FY21 from Rs 24 crore posted in the same quarter last year. EBITDA margins improved to 16.1% in Q4 FY21 from 15.1% in Q4 FY20.
The speciality chemical company posted a 22.7% rise in net profit to Rs 80 crore for the year ended March 2021 (FY21) from Rs 65.2 crore registered in the year ended March 2020 (FY20). Revenue from operations jumped 18.2% year on year to Rs 709.3 crore in FY21 from Rs 600 crore in FY20.
Commenting on the performance, in a joint statement, Edward Menezes, promoter & executive chairman, and Sunil Chari, promoter & managing director said, "Growth was primarily driven by a robust and continued uptick in sales in the HPPC segment led by higher offtake in hygiene products and antiviral portfolio sales. In addition, normalization in demand and improved consumption across the TSC and AHN business lines assisted overall results. Even on a full year basis, our performance, despite the unprecedented environment, has been resilient and we have ended FY2021 on a strong note, with revenues higher by 18.2% YoY and PAT higher by 22.7% YoY. In one of the key developments during the quarter, we have fully operationalized our state-of-the-art Greenfield manufacturing facility at Dahej. We have seen a strong ramp-up in utilization levels from this facility in recent months, leading to healthy volumes particularly in the HPPC segment. Going forward, a strong upcoming pipeline of new product launches should enable us to sustainably ramp-up utilization levels at this unit over the next 3-4 years. In the quarter gone by, we had seen normalization in demand and consumption sentiments across all the three business segments. Overall, we are confident that the stabilization of the demand environment and improved consumption will lead to stronger and sustainable growth in the quarters ahead."
Rossari Biotech is a speciality-chemicals manufacturer providing intelligent and sustainable solutions for customers across industries.
Shares of Rossari Biotech were down 3.24% at Rs 1246 on BSE.
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