Evaluating opportunities to launch new business lines
Mumbai-based Rossari Biotech generated a revenue of Rs 688.47 crore in the enzymes space during the FY 2020-21 exhibiting a growth of 15 per cent in comparison to the revenue generation of Rs 600 crore in the previous fiscal. The FY20-21 saw the company’s IPO launch with Rossari listed publicly on national stock exchange (NSE) and Bombay stock exchange (BSE). Rossari raised Rs 100 crore through pre-placement of shares with institutional investors in February 2020. Further, the company raised Rs 50 crore through the issue of fresh equity in -uly 2020. The proceeds from this issue were used towards funding the company’s working capital requirements, prepayment of loans and for general corporate purposes. The company also fully operationalised Rossari Centre of Excellence, the company’s new state-of-the -art and certified R&D laboratory, strategically located on the Indian Institute of Technology (IIT) campus in Mumbai. The facility is fully equipped with advanced testing and research equipment. Rossari fully commissioned all phases of the Greenfield manufacturing facility at Dahej, Gujarat during FY20-21. A strong upcoming pipeline of new product launches and new business lines within the four core chemistries of acrylic, surfactants, silicones and enzymes is expected to enable the company to sustainably ramp-up utilisation levels at the Dahej unit over the next three to four years. Other developments which took place within the company during 2020 included tie-up with Mumbai Airport to place branded dispensers and supply sanitisers for the use of passengers and foray into e-commerce by listing Home, Personal Care and Performance chemical (HPPC) products on the Amazon platform. While the company delivered strong performance in its HPPC business led by accelerated momentum in hygiene products and anti-viral portfolio sales, broader operating constraints and slowdown in demand impacted performance of its textile specialty chemicals (TSC) and animal health and nutrition (AHN) businesses during the first half of the fiscal. As the country moved to the un-lockdown phase in H2 FY 2020-21, Rossari started seeing a healthy uptick in consumption and demand, which further strengthened through the course of the fiscal. Rossari is one of India’s leading manufacturers and exporters of textile chemical auxiliaries, enzymes, polymers and animal health care products. The company’s enzymes portfolio is spread across a wide range of functions such as Desizing Agent, Bioscouring Agent, Peroxide Killer, Biopolishing, Fading and Washing Off catering to the textile chemicals section. Apart from this, the company also has a large number of enzyme products such as Mannobac, Phytobac, Protoxy Forte, Rosslipase, Rossphyte 5000 10000 and ;ylot Ex in the individual form and Enzyfort, Maxi ex, Maxizyme Ex and Rosszyme Plus in the cocktail form, within the Poultry Supplements & Additives sector. The company has state-of-the-art research facilities both at its head office in Mumbai as well as at the manufacturing plant in Silvassa in Gujarat. Rossari is one of the few companies in the sector credentialed with a Department of Scientific and Industrial Research (DSIR) certification.
As we move forward, we are evaluating opportunities to introduce new business lines with distinguished offerings and unique product value, but which are centred on our four basic chemistries of acrylic, surfactants, silicones and enzymes. This will enable us to keep up with the constant technology evolutions happening in markets and will be another strong growth propeller for us, going forward.”