Rossari Biotech Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Rossari Biotech Ltd filed with BSE on 04 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Rossari Biotech reported Q4 FY26 revenue of Rs. 684.9 crore, up 18% YoY, and full-year FY26 revenue of Rs. 2,396.4 crore, up 15% YoY, with EBITDA margin for the year at 11.9% versus 12.7% in FY25. Management attributed margin pressure to raw material price increases in March and a challenging institutional and B2C business, while noting core B2B operations delivered a 14% EBITDA margin. The company also disclosed a rephasing of its previously announced Rs. 192 crore capex plan across Rossari, Unitop and Tristar in light of evolving business and market conditions.
Numbers mentioned
Revenue from operations: Rs. 684.9 crore (Q4 FY26)
p. 5
“In Q4 FY26, we delivered a strong performance with revenue from operations at Rs. 684.9 crore registering a growth of 18% YoY.”
Ketan Sablok, page 5 of the filed PDF · View the filing
EBITDA: Rs. 77.3 crore (Q4 FY26)
p. 5
“EBITDA for the quarter stood at Rs. 77.3 crore, up 11% YoY with an EBITDA margin of 11.3% compared to 12% in the corresponding period last year.”
Ketan Sablok, page 5 of the filed PDF · View the filing
Revenue from operations: Rs. 2,396.4 crore (FY26)
p. 5
“For the full year FY26, revenue from operations stood at Rs. 2,396.4 crore, reflecting a growth of 15% YoY.”
Ketan Sablok, page 5 of the filed PDF · View the filing
EBITDA: Rs. 286 crore (FY26)
p. 5
“EBITDA for the year was at Rs. 286 crore, up 8% YoY, while EBITDA margin stood at 11.9% compared to 12.7% in FY25.”
Ketan Sablok, page 5 of the filed PDF · View the filing
Core B2B EBITDA margin: 14% (FY26)
p. 6
“Excluding the institutional and the B2C businesses, our core B2B operations delivered an EBITDA margin of 14% for the year, reflecting the underlying strength and stability of our core business.”
Ketan Sablok, page 6 of the filed PDF · View the filing
HPPC segment growth: 18% (Q4 FY26)
p. 4
“From a segment perspective, HPPC delivered growth of 18% during the quarter, Textiles grew by 20% and AHN recorded a growth of 14%.”
Sunil Chari, page 4 of the filed PDF · View the filing
Export growth: 11% YoY (FY26)
p. 4
“On the export front, we witnessed continued momentum during the year with exports growing by 11% YoY in FY26 supported by deeper engagement with existing customers and expansion into geographies across Latin America, Europe, Southeast Asia and Africa.”
Sunil Chari, page 4 of the filed PDF · View the filing
Ethoxylation capacity: 66,000 metric tons per annum
p. 3
“On the manufacturing front, Unitop commissioned additional ethoxylation capacity at Dahej taking the total installed ethoxylation capacity to 66,000 metric tons per annum.”
Edward Menezes, page 3 of the filed PDF · View the filing
Net income from Mumbai office sale: Rs. 19 crore (Q4 FY26)
p. 6
“The other income during the quarter includes sales of our office space in Mumbai. The net income from these sales is Rs. 19 crore.”
Ketan Sablok, page 6 of the filed PDF · View the filing
Long-term debt: ~Rs. 200-odd crore
p. 11
“And in terms of the debt that we have now, we have ~Rs. 200-odd crore of long-term debt, and the balance is the short-term working capital borrowings.”
Ketan Sablok, page 11 of the filed PDF · View the filing
Top 10 customer revenue concentration: 12%-13%
p. 16
“We would be doing between 12%-13%, not more than that.”
Ketan Sablok, page 16 of the filed PDF · View the filing
B2C business revenue: Rs. 250 crore to Rs. 260 crore (FY26)
p. 13
“From the total, you can subtract about Rs. 250 crore to Rs. 260 crore of B2C business, balance everything is the B2B.”
Ketan Sablok, page 13 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth — at least similar to FY26 growth, minimum 15% · FY27
stated conditionally by Ketan Sablok
p. 7
“Currently the way we understand, minimum we should be able to deliver this kind of a growth that we have done in this year and if the situation globally improves, it will only add on to our growth plans.”
Ketan Sablok, page 7 of the filed PDF · View the filing
EBITDA margin — 12% to 13% · FY27
stated firmly by Ketan Sablok
p. 7
“Currently, the EBITDA margins will remain at these current levels between 12% to 13%.”
Ketan Sablok, page 7 of the filed PDF · View the filing
Capex — Rs. 50 crore to Rs. 75 crore · FY27
stated firmly by Ketan Sablok
p. 10
“Yes. The CAPEX plan for this year would be I think anything between Rs. 50 crore to Rs. 75 crore, that is the plan.”
Ketan Sablok, page 10 of the filed PDF · View the filing
Debt reduction — debt free · next 18 months
stated as an aspiration by Ketan Sablok
p. 11
“The target is to actually get debt free in the next 18 months, but the time will tell.”
Ketan Sablok, page 11 of the filed PDF · View the filing
Thailand plant peak revenue — Rs. 50 crore - Rs. 75 crore
stated as an aspiration by Ketan Sablok
p. 15
“Yes. We should do about I think between Rs. 50 crore - Rs. 75 crore at its peak since it is blending so it depends a lot on the product also and what kind of blends we do, but at peak, we can achieve Rs. 50 crore - Rs. 75 crore of revenue.”
Ketan Sablok, page 15 of the filed PDF · View the filing
Asset turn at peak utilization — 3-4x
stated as an aspiration by Ketan Sablok
p. 8
“We should do an asset turn of at least between 3-4x at peak utilization.”
Ketan Sablok, page 8 of the filed PDF · View the filing
Institutional business breakeven — breakeven or profitability · FY27
stated as an aspiration by Sunil Chari
p. 19
“In FY27, we should look at breakeven or even profitability, along with the divestment of some lower-margin businesses or those that contributed to EBITDA losses.”
Sunil Chari, page 19 of the filed PDF · View the filing
Non-core asset divestment — 2027, possibly longer
stated conditionally by Ketan Sablok
p. 17
“The plan is we would like it to happen in 2027, but it could take more than a year, 2 years.”
Ketan Sablok, page 17 of the filed PDF · View the filing
New EO capacity availability at Reliance — later part of FY27, probably Q3
stated conditionally by Ketan Sablok
p. 7
“we are expecting the new EO capacities at Reliance to also come in the later part of this year probably by Q3, that is what we have.”
Ketan Sablok, page 7 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said they expect at least similar growth to this year, with EBITDA margins maintained between 12-13%.
Answered by Ketan Sablok
Asked by Madhur Rathi: What growth and margin should shareholders expect for FY27 given raw material inflation and geopolitical issues?
p. 7
“Currently, the EBITDA margins will remain at these current levels between 12% to 13%.”
Ketan Sablok, page 7 of the filed PDF · View the filing
Management said there are no plans for a buyback.
Answered by Ketan Sablok
Asked by Madhur Rathi: Is the company considering a share buyback given trading at less than 10x EBITDA?
p. 9
“No, we have nothing like that on the cards.”
Ketan Sablok, page 9 of the filed PDF · View the filing
Management explained the earlier ethoxylation capex was delayed due to Reliance revising its plans, prompting them to rephase the newer capex plan in view of the business environment.
Answered by Ketan Sablok
Asked by Rohit Nagraj: Why was the capex plan postponed nearly a year after being announced?
p. 10
“As the earlier capex experienced some delays, we decided not to immediately commence spending on this plan, keeping in mind the current business environment and the overall global situation that is prevailing.”
Ketan Sablok, page 10 of the filed PDF · View the filing
Management said utilization is near maximum and there is no demand-side challenge currently.
Answered by Sunil Chari
Asked by Rohit Nagraj: What is the current ethoxylation utilization level and are there demand concerns given price increases?
p. 11
“Utilization levels for ethoxylation are practically 90% to 100%, whatever maximum we can do.”
Sunil Chari, page 11 of the filed PDF · View the filing
Management pointed to divesting non-core low-margin businesses and shifting toward higher-margin, value-added products as levers for margin improvement.
Answered by Sunil Chari
Asked by Maitri Shah: How confident is management in maintaining the 12-13% EBITDA margin guidance given the margin decline through FY26?
p. 12
“Once these businesses are no longer part of Rossari, our margins should automatically improve.”
Sunil Chari, page 12 of the filed PDF · View the filing
Management declined to give a specific number or firm timeline, saying it is still being worked on internally.
Answered by Ketan Sablok
Asked by Mihir Damania: Can management give a timeline or value for the divestment of non-core assets?
p. 17
“No, we would not like to hazard any number. See, this is something which we are still internally working on.”
Ketan Sablok, page 17 of the filed PDF · View the filing
Management denied any such plans.
Answered by Sunil Chari
Asked by Mihir Damania: Were there rumours of the promoter selling stake or exiting the company?
p. 17
“I think there is nothing of such at all. We are all sitting, working and focusing on growth.”
Sunil Chari, page 17 of the filed PDF · View the filing
Management said FY27 should see breakeven or profitability alongside divestment of lower-margin businesses.
Answered by Sunil Chari
Asked by Rohit Nagraj: When is the institutional business expected to reach breakeven?
p. 19
“We feel that FY27 should be a very good year for the institutional business.”
Sunil Chari, page 19 of the filed PDF · View the filing
Risks flagged
Geopolitical conflict in the Middle East creating uncertainty across raw material markets, supply chains and logistics
p. 4
“The ongoing conflict in the Middle East has created uncertainty across raw material markets, supply chains and logistics and this may have an impact over the coming quarters.”
Sunil Chari, page 4 of the filed PDF · View the filing
Soft domestic demand conditions and subdued institutional and B2C business performance
p. 4
“On the domestic side, demand conditions remain relatively soft during certain periods of the year. Performance in the institutional and B2C businesses also remain subdued.”
Sunil Chari, page 4 of the filed PDF · View the filing
Sharp raw material price increases in March impacting costs
p. 5
“Also, March saw some raw material price increases, some of them were to the tune of 25% to 30%, which impacted the costs.”
Ketan Sablok, page 5 of the filed PDF · View the filing
El Nino effect potentially impacting the agro season and demand
p. 11
“The agro season is dependent on El Nino. The El Nino effect can affect the agro season.”
Sunil Chari, page 11 of the filed PDF · View the filing
Institutional and B2C businesses operating in a challenging environment impacting overall profitability
p. 5
“Our institutional and B2C businesses continued to operate in a challenging environment during the year, which had an impact on overall profitability.”
Ketan Sablok, page 5 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.