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Rossari Biotech (BOM:543213) Piotroski F-Score : 5 (As of Mar. 24, 2025)


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What is Rossari Biotech Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Rossari Biotech has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Rossari Biotech's Piotroski F-Score or its related term are showing as below:

BOM:543213' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 4   Max: 5
Current: 5

During the past 7 years, the highest Piotroski F-Score of Rossari Biotech was 5. The lowest was 4. And the median was 4.


Rossari Biotech Piotroski F-Score Historical Data

The historical data trend for Rossari Biotech's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Rossari Biotech Piotroski F-Score Chart

Rossari Biotech Annual Data
Trend Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Piotroski F-Score
Get a 7-Day Free Trial 4.00 4.00 5.00 4.00 5.00

Rossari Biotech Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 5.00 - - -

Competitive Comparison of Rossari Biotech's Piotroski F-Score

For the Specialty Chemicals subindustry, Rossari Biotech's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Rossari Biotech's Piotroski F-Score Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Rossari Biotech's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Rossari Biotech's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was ₹1,307 Mil.
Cash Flow from Operations was ₹433 Mil.
Revenue was ₹18,252 Mil.
Gross Profit was ₹5,211 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was (13675.65 + 15721.51) / 2 = ₹14698.58 Mil.
Total Assets at the begining of this year (Mar23) was ₹13,676 Mil.
Long-Term Debt & Capital Lease Obligation was ₹442 Mil.
Total Current Assets was ₹8,436 Mil.
Total Current Liabilities was ₹4,247 Mil.
Net Income was ₹1,073 Mil.

Revenue was ₹16,513 Mil.
Gross Profit was ₹4,729 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was (12567.22 + 13675.65) / 2 = ₹13121.435 Mil.
Total Assets at the begining of last year (Mar22) was ₹12,567 Mil.
Long-Term Debt & Capital Lease Obligation was ₹349 Mil.
Total Current Assets was ₹7,202 Mil.
Total Current Liabilities was ₹3,485 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Rossari Biotech's current Net Income (TTM) was 1,307. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Rossari Biotech's current Cash Flow from Operations (TTM) was 433. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar23)
=1306.89/13675.65
=0.09556328

ROA (Last Year)=Net Income/Total Assets (Mar22)
=1072.57/12567.22
=0.08534664

Rossari Biotech's return on assets of this year was 0.09556328. Rossari Biotech's return on assets of last year was 0.08534664. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Rossari Biotech's current Net Income (TTM) was 1,307. Rossari Biotech's current Cash Flow from Operations (TTM) was 433. ==> 433 <= 1,307 ==> CFROA <= ROA ==> Score 0.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=442.3/14698.58
=0.03009134

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=349.33/13121.435
=0.02662285

Rossari Biotech's gearing of this year was 0.03009134. Rossari Biotech's gearing of last year was 0.02662285. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=8435.75/4247.37
=1.98611141

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=7202.13/3485.08
=2.06656088

Rossari Biotech's current ratio of this year was 1.98611141. Rossari Biotech's current ratio of last year was 2.06656088. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Rossari Biotech's number of shares in issue this year was 55.327. Rossari Biotech's number of shares in issue last year was 55.356. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=5211.15/18251.88
=0.28551305

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=4728.59/16513.17
=0.28635265

Rossari Biotech's gross margin of this year was 0.28551305. Rossari Biotech's gross margin of last year was 0.28635265. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar23)
=18251.88/13675.65
=1.33462614

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=16513.17/12567.22
=1.3139875

Rossari Biotech's asset turnover of this year was 1.33462614. Rossari Biotech's asset turnover of last year was 1.3139875. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+0+0+0+1+0+1
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Rossari Biotech has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Rossari Biotech  (BOM:543213) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Rossari Biotech Piotroski F-Score Related Terms

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Rossari Biotech Business Description

Traded in Other Exchanges
Address
L.B.S. Marg, next to GE Gardens, 201 A and B, 2nd Floor, Akruti Corporate Park, Kanjurmarg (West), Mumbai, MH, IND, 400 078
Rossari Biotech Ltd is a specialty chemical manufacturing company. It provides customized solutions to specific industrial and production requirements of its customers in the FMCG, apparel, poultry and animal feed industries through its diversified product portfolio comprising home, personal care and performance chemicals; textile specialty chemicals; and animal health and nutrition products. Its business is organized into three categories home, personal care and performance chemicals; textile specialty chemicals; and; animal health and nutrition products. Its products include soaps and detergents, paints, inks and coatings, ceramics and tiles, water treatment chemicals and pulp and paper, and cleaning chemical formulations, among others.

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