Year-end Statement - Mr. Ketan Sablok, Group Chief Financial Officer, Rossari Biotech Ltd

"2021 has been a good year for Rossari Biotech, even with the difficult market conditions and damp outlook. Our business fundamentals remain stronger than ever before. We have entered the Billion USD market cap club for the first time since the IPO listing in July 2020. Currently, our core business strategy is to seek growth opportunities in India and globally, while expanding our portfolio by tapping organic as well inorganic prospects. We made two strategic big-ticket acquisitions in the speciality chemical space in Q1 - Unitop Chemicals for Rs 421 crore in June and Tristar Intermediates in July for Rs 120 crore. Despite such large acquisitions we continue to remain debt free and profitable.

The long-term outlook for the specialty chemicals industry in India remains very optimistic. With multinationals focusing on 'China plus one' strategy, there is an enormous scope for the entire specialty chemicals industry to grow multifold. Within this, sectors like home and personal care, textile, nutrition, grooming etc. are also poised for a significant growth. As the competition rises, sustainability continues to be a strategic priority and differentiator for us. Being a part of a fast-evolving industry, Rossari Biotech has pioneered the art of amalgamating innovation with sustainability. We remain committed to 'Make In India' and continue to invest in R&D to enhance our portfolio of sustainable offerings. Our overall production capacity at the two strategically located manufacturing facilities at Silvassa and Dahej, Gujarat, currently stands at 2,52,500 MTPA. With Unitop and Tristar now in our fold, our overall product offerings across industry segments have increased significantly.

Rossari has been setting new benchmarks and attaining multiple accolades and accomplishments, such as entering the MSCI Global Standard India- Small Cap Index. Getting listed in one of the leading research based indexes and analytics has been a breakthrough moment for the company and an encouragement to further leverage the capabilities in the global market. This success can be attributed to our transformation in business strategy to quickly changeover production to health and hygiene products (especially sanitisers, disinfectants and hand washes) while maintaining our strength in the textile chemicals space. Our investment in the greenfield project in Dahej, Gujarat, has doubled our overall capacity to cater to the growing domestic and international demand. Apart from India, we now have operations in 17 countries which include Vietnam, Bangladesh and Mauritius. We are aiming to significantly improve our share of exports in the coming years.

Despite facing serious volatility in raw material prices and availability in the past few quarters, we planned our operations well and ensured that we were able to supply all our customers on time. Our healthy financial position enabled us to cover more raw material than was needed and this helped us gain goodwill with the customers. We expect the growth to continue and are quite optimistic of improving our performance as we move into the next year. Our products have become the building blocks of pivotal solutions for our clients, offering safety, hygiene, and wellness to the end-user - thereby touching millions of lives every day. We aim to deliver tailor-made, eco-friendly products, and penetrate deeper into new consumer segments and categories. We are confident of maintaining our leadership with our focus on sustainable products and solutions that not only act as green alternatives to harmful chemicals but have also become industry benchmarks."

Shares of Rossari Biotech Limited was last trading in BSE at Rs. 1271.10 as compared to the previous close of Rs. 1266.20. The total number of shares traded during the day was 4262 in over 1361 trades.

The stock hit an intraday high of Rs. 1286.00 and intraday low of 1249.40. The net turnover during the day was Rs. 5371999.00.

Source : Equity Bulls

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RossariBiotech INE02A801020 SpecialtyChemicals YearendStatement