Rossari Biotech Q1 Review - Value Extraction From Inorganic Growth Key: ICICI Securities
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ICICI Securities Report
Rossari Biotech Ltd.’s Q1 FY22 Ebitda growth of 56% YoY to Rs 371 million came tad below our estimates due to raw material price volatility.
The company remains confident of navigating through margin pressure, and reiterated Ebitda margin guidance of 16-18%.
Rossari Biotech clarified it is not looking for more acquisitions and will focus on integrating the three recently acquired companies.
It remains confident of multiple synergetic benefits from the availability of products in downstream, cross-selling solutions among customers of three companies, building solutions business for Tristar and Romakk, and integrated knowledge development.
We have marginally tweaked our previous estimates.
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