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Last Updated : Jul 13, 2020 04:52 PM IST | Source: Moneycontrol.com

Subscribe to Rossari Biotech: Angel Broking

Angel Broking At the upper end of the price band, Rossari demands PE multiple of 32.1x F.Y.20 fully diluted EPS.

Broker Research

Angel Broking's IPO report on Rossari Biotech


At the upper end of the price band, Rossari demands PE multiple of 32.1x F.Y.20 fully diluted EPS. None of the listed chemical companies has the same business as Rossari. Its specialty chemical peers such as Galaxy Surfactants, Fine Organics, Aarti industries, Atul and Vinati Organics are currently trading at F.Y.2020 P/E multiples of 24.0x, 36.6x, 30.5x, 20.6x and 30.9x respectively. We believe Rossari will command a premium over most of its chemical peers as it is net debt free as well as it has better asset turnover, working capital days, ROE and ROCE better than most of its peers. In the last three years Rossari have reported 32% and 66% revenue and PAT CAGR due to the strong promoter and management team.


Valuation and Outlook


As we are positive on the future outlook for the industry as well as the company, we would recommend to “Subscribe” to the issue.”


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First Published on Jul 13, 2020 01:15 pm
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