ROSSARI BIOTECH LIMITED — M&A Activity 2021

Jul 17, 2021

ROSSARI

making you more competitive

July 17, 2021

DCS-CRD Listing Compliance BSE Limited National Stock Exchange of India Ltd. First Floor, New Trade Wing Exchange Plaza, 5th Floor Rotunda Building, Phiroze Jeejeebhoy Towers Plot No.C/1, 'G'Block, Bandra- Kurla Complex Dalal Street, Fort Mumbai 400 023 Bandra East Mumbai 400 051 Fax No.2272 3121/2037/2039 Fax No.2659 8237/8238 Stock Code: 543213 Stock Code: ROSSARI

Dear Sir/Madam,

Subject: Press Release - Rossari to acquire Tristar Intermediates

Please find enclosed a copy of the Press Release titled "Rossari to acquire Tristar Intermediates" The same may please be taken on record and suitably disseminated to all concerned.

Thanking you,

Yours Sincerely, For Rossari Biotech Limited

==> picture [79 x 53] intentionally omitted <==

==> picture [75 x 74] intentionally omitted <==

Manasi Nisal Chief Financial Officer

Encl.: as above

ROSSARI BIOTECH LIMITED

(An ISO 9001:2015 & 14001:2015 Certified Company)

Regd. Office: 201 A & B, Ackruti Corporate Park, Next to GE Gardens, LBS Marg, Kanjurmarg (W). Mumbai - 400078. India. T +91-22-6123 3800 F +91-22-2579 6982 Factory: Plot No. 10 & 11, Survey No. 90/1/10 & 90/1/111/1, Kumbharwadi, Village Naroli, Dadra & Nagar Haveli (U.T.), Silvassa - 396 235. India. T 0260 - 669 3000 E info@rossarimail.com W www.rossari.com CIN: L24100MH2009PLC194818

TEXTILE I ANIMAL HEALTH & NUTRITION I POLYMER I PHARMA I HLS

==> picture [32 x 48] intentionally omitted <==

==> picture [32 x 48] intentionally omitted <==

==> picture [31 x 48] intentionally omitted <==

==> picture [32 x 48] intentionally omitted <==

==> picture [461 x 48] intentionally omitted <==

==> picture [115 x 67] intentionally omitted <==

Rossari Biotech Limited

CIN: L24100MH2009PLC194818

Corporate Office: 201 A & B Akruti Corporate Park LBS Marg Next to G. E. Gardens, Kanjurmarg West, Mumbai, Maharashtra 400078

Rossari to acquire Tristar Intermediates

• Strategic acquisition adds scale and brings business synergies

• Expanded product portfolio, primarily in Personal Care segment, combined with extended market presence to facilitate cross-selling opportunities

Mumbai, July 17, 2021: Rossari Biotech Limited (Rossari, Company), a SpecialityChemicals manufacturer providing intelligent and sustainable solutions for customers across industries, today announced that its Board of Directors has approved the acquisition of Tristar Intermediates Pvt. Ltd. (Tristar Intermediates, company). As per the agreement and subject to customary closing conditions, Rossari will be acquiring 100% of the equity share capital of Tristar Intermediates. 76% of the equity share capital will be acquired upon closure of the transaction, and the balance 24% over the next 3 years. The total enterprise value of the transaction is Rs. 120 crores. Rossari plans to fund the investment through cash on balance sheet and doesn’t intend to raise any debt for this acquisition.

The transaction brings together two high-potential companies within the speciality chemical space. The blend of capabilities will add scale, provide cross-selling opportunities, and accelerate growth for Rossari, while significantly enhancing value creation in the longer term. The synergistic acquisition provides Rossari with enhanced portfolio of products, stronger presence in new & untapped international markets and access to newer technologies. Through the transaction, the Company also welcomes on-board Tristar Intermediate’s four experienced promoters with proven entrepreneurial expertise across technical & marketing functions, who will continue driving this business for atleast next three years. Rossari and Tristar Intermediate’s complementary cultures and business models will together strengthen and consolidate Rossari’s market position as a preferred solutions provider in the Speciality Chemicals space in India.

Page | 1

==> picture [66 x 39] intentionally omitted <==

Tristar Intermediates established in the year 1998, is one of the prominent companies in India in the field of Preservatives, Aroma Chemicals, and Home & Personal Care Additives with high-tech distillation facilities. Headquartered in Thane, Maharashtra, Tristar Intermediates is a preferred supplier to various reputed companies and MNCs across India, Europe, USA and Far East countries. With a superior presence in Personal Care and Home Care segments, the company’s expansive product range also has applications across diverse industries such as Pharmaceuticals, Textiles, Paints, Automotive, Agro-chemicals and others. Tristar Intermediates has manufacturing facilities at Sarigam (Vapi), Gujarat, India with a total capacity of 15,000 MTPA.

In the fiscal year 2021, Tristar Intermediate’s revenues stood at Rs. 110.5 crore, with EBITDA at Rs. 15.6 crore, EBIDTA margins at 14.1%, and PAT at Rs. 10.4 crore. In FY2021, Personal Care segment contributed to ~60% of revenues and Exports accounted for ~53% of revenues.

Commenting on the business update, in a joint statement, Mr. Edward Menezes, Promoter & Executive Chairman, and Mr. Sunil Chari, Promoter & Managing Director, said,

“We are pleased to announce the acquisition of Tristar Intermediates, which is a strategic and important milestone for us. The combined capabilities will provide a strong growth momentum and will enable us to expand further into the high-potential product categories of personal care and home care, among others. The addition of new international markets, cross-selling opportunities, talent, and technology know-how will also drive business efficiencies.

The acquisition meets all operational & financial criteria laid down by our Board. The complementary heritage of Rossari and Tristar Intermediates will allow for a smooth integration to the benefit of our stakeholders, customers and employees, in the coming months.”

Page | 2

==> picture [66 x 39] intentionally omitted <==

About Rossari Biotech Limited

CIN: L24100MH2009PLC194818

Rossari Biotech Limited (Rossari) (BSE: 543213, NSE: ROSSARI), is a Speciality-Chemicals manufacturer providing intelligent and sustainable solutions for customers across industries. Headquartered at Mumbai, India, the Company operates 2 strategically located manufacturing facilities at Silvassa and Dahej. The Company offers tailor-made solutions for Home, Personal Care and Performance chemicals (HPPC), Textile speciality chemicals and Animal Health and Nutrition (AHN). With differentiated product offerings, Rossari caters to an array of applications across FMCG, Home care, Industrial Cleaning, Personal Care, Textile Speciality Chemicals, Performance Chemicals, the Animal Health and Nutrition and Pet Care businesses. The Company has an extensive and a dedicated network of distributors spread all over India.

For more information, please visit www.rossari.com OR contact:

Manasi Nisal Anoop Poojari / Shikha Kshirsagar Rossari Biotech Limited CDR India Tel: +91 22 6123 3800 Tel: +91 98330 90434 Email: manasi.nisal@rossarimail.com Email: anoop@cdr-india.com shikha@cdr-india.com

DISCLAIMER:

Certain statements and opinions with respect to the anticipated future performance of Rossari Biotech Limited in the press release (“forward-looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be correct. Such forward-looking statements involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forwardlooking statements. These include, among other factors, changes in economic, political, regulatory, business or other market conditions. Such forward-looking statements only speak as at the date the press release is provided to the recipient and Rossari Biotech Limited is not under any obligation to update or revise such forward-looking statements to reflect new events or circumstances. No representation or warranty (whether express or implied) is given in respect of any information in this press release or that this press release is suitable for the recipient’s purposes. The delivery of this press release does not imply that the information herein is correct as at any time subsequent to the date hereof and Rossari Biotech Limited has no obligation whatsoever to update any of the information or the conclusions contained herein or to correct any inaccuracies which may become apparent subsequent to the date hereof.

Page | 3