Rossari Biotech Share Price: Rossari Biotech’s animal health division experienced some issues, notably during the month of Shravan, because the poultry industry accounts for a sizable chunk of their sales.
Rossari Biotech, a maker of specialty chemicals, has maintained its revenue growth forecast for fiscal year 2024. Sunil Chari, Co-Founder and Managing Director of Rossari Biotech, anticipates a 10-12% increase in sales this fiscal year.
It derives a major percentage of its revenue from exports, which account for around 20% of total sales. “We achieved approximately 105 crore in exports in the last quarter, and we recorded exports in the range of 85-90 crore in the previous quarter.” “We have already secured approximately 190 crore through exports, and we anticipate strong growth in this segment,” Chari explained.
However, Chari stated that the company’s export estimates are dependent to external factors over which they have no control. “The performance of the company’s exports relies heavily on the geopolitical situation, particularly the ongoing tensions in Israel, Palestine, and the wider China sub-continent,” he said.
The company’s animal health business saw certain difficulties, particularly during the month of Shravan, when a significant amount of revenues were focused towards the poultry industry. Shravan, a fasting period observed by many, influenced consumption habits in the poultry business, resulting in a temporary setback in the animal health segment. Despite this, It is optimistic about its future growth possibilities and is looking into new opportunities in the specialty chemicals sector. Over the last month, the stock has dropped by more than 2%.
Rossari Biotech Share Price: Rossari Biotech closed today at 802.55, a -2.31% decrease from yesterday’s close of 821.55
The closing price of Rossari Biotech Share Price today was 802.55, a reduction of 2.31% from yesterday’s closing price of 821.55. This results in a net change of -19. It’s shares fell in value overall throughout today’s trading session.
Rossari Biotech
It is a specialty chemical manufacturing firm based in India. It also manufactures specific enzymes and chemicals in India for use in the pharmaceutical, paper, construction, textile, nutrition, and animal health industries. It was founded in 2003 as a partnership corporation called Rossari Labtech. In 2009, the company was incorporated and renamed Rossari Biotech. It has two research and development sites, one in Silvassa and the other in Dahej.
Click here to learn about Rossari Biotech.
image source: google
