KR Choksey has given Buy recommendation for Rossari Biotech with a target price of Rs. 1456 in its research report issued on Mar 28, 2022

KR Choksey’s research report on Rossari Biotech

We recently visited Dahej plants of ‘Rossari Biotech Ltd (RBL)’ and its subsidiary ‘Unitop Chemicals Ltd’. Both these plants are located within close proximity (in the range of ~4 kms). RBL has two plants located at Silvasa and Dahej with a total manufacturing capacity of 2,52,000 MTPA. The Dahej Plant was fully commissioned in March 2021 as per the planned schedule despite COVID pandemic. Incorporated in 1980, Unitop Chemicals has three manufacturing plants located at Dahej, Patalganga (Maharashtra) and Udhampur (Jammu) with a total capacity of 80,000 MTPA.

Outlook

We have BUY rating on the stock with the target price of INR 1,456/share (an implied PE 35.0x to FY24 EPS).

More Info

At 14:53 hrs Rossari Biotech was quoting at Rs 899.00, down Rs 19.80, or 2.15 percent.

It has touched an intraday high of Rs 930.10 and an intraday low of Rs 896.35.

It was trading with volumes of 15,525 shares, compared to its thirty day average of shares, a decrease of percent.

In the previous trading session, the share closed down 1.27 percent or Rs 11.80 at Rs 918.80.

The share touched its 52-week high Rs 1,620.60 and 52-week low Rs 889.10 on 12 October, 2021 and 07 March, 2022, respectively.

Currently, it is trading 44.53 percent below its 52-week high and 1.11 percent above its 52-week low.

Market capitalisation stands at Rs 4,949.57 crore.

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