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Rossari Biotech: Calibrated inorganic strategy opens up opportunities

Rossari’s M&A strategy is apparently focussed on encompassing complementary technology, talent, products and client base

July 21, 2021 / 10:31 AM IST
Rossari Biotech: Calibrated inorganic strategy opens up opportunities

COVID-19 pandemic aside, financial wealth in India grew by 11 percent per annum to $3.4 trillion between 2015 and 2020, a new report ‘Global Wealth 2021: When Clients Take the Lead‘, by the Boston Consulting Group (BCG) showed. Here are some key (Image: Shutterstock)

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Rossari Biotech (CMP: Rs 1,254; Market Cap: Rs 6,884 crore) has announced one more acquisition within two months. Rossari is acquiring Tristar Intermediates at an enterprise value (EV) of Rs 120 crore (7.7x EV/EBITDA), which is at a discount to its earlier acquisition in June of Unitop Chemicals (10x EV/EBITDA). (image) While in the case of Unitop, Rossari gets a higher exposure to surfactants-based chemicals catering to agrochemicals and oil & gas segments, Tristar Intermediates provides a higher exposure to...

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