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ICICI Securities Report
Rossari Biotech Ltd. has announced two acquisitions in the past two months, which will help the company add 58% to revenue and 48% to Ebitda (on full merger) with total outlay of Rs 5.4 billion, yet the company will continue to remain debt free, which is comforting.
It would gain some backward integration and expand addressable market which will provide opportunity to cross-sell products among customers.
The acquisitions will also expand Rossari Biotech’s footprint in exports market, which has been limited so far.
We have put out pro-forma profit and loss post-merger with Unitop Chemicals Pvt. Ltd. and calculated attributable earnings per share for the company assuming two merger consummates.
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