Mumbai: Rallis India, a Tata enterprise and a leading player in the Indian crop protection industry, today announced its financial results for the quarter ended June 30, 2010
Net sales from operations has registered a growth of 20 per cent at Rs196 crore as compared to Rs163 crore during the same period in 2009-10.
The company crossed the Rs200 crore gross sales milestone for the first time for any quarter clocking Rs210 crore. Net profit for the period was Rs14.8 crore as compared to Rs9.4 crore last year, a growth of 58 per cent.
PBT before exceptional items of Rs21.6 crore during Q1, increased by 28 per cent from last year’s figure of Rs16.9 crore.
The company has achieved EBITDA of Rs24.3 crore (previous year Rs20.7 crore) reflecting a growth of 17 per cent. EBIDTA margin was 12 per cent and in line with the previous year.
Commenting on the company’s performance for the first quarter, V Shankar, managing director and CEO, Rallis India, said, “I am happy to report improved company performance during the first quarter. The company has crossed Rs200 crore gross sales, a milestone in a quarter reflecting growth of 20 per cent. Net profit for the quarter at Rs14.8 crore recorded 58 per cent growth. We continue to progress well on our Rallis Poised growth agenda.”
Commenting on business aspects, Mr Shankar added “Performance of the domestic business continued in an impressive way, driven by the success of the products launched by the company in recent years, including new products introduced during the year, Ralligold and Taarak. International business recorded improved performance reflecting positive global trends. The new project at Dahej is at the advanced stages of completion and will be commissioned during the current quarter.”
The crop protection business being seasonal in nature, first quarter numbers are relatively less significant in the year's overall numbers.
Rallis is known for its manufacturing capabilities in crop protection chemicals and various types of chemistries, with an ability to develop new processes and formulations supported by the capability to register new products. It has contract manufacturing alliances with several multinational agrochemical companies.
Rallis is one of India’s leading agrochemicals companies, with a century-old tradition of servicing rural markets and a comprehensive portfolio of pesticides for Indian farmers. The company is known for its deep understanding of Indian agriculture, sustained relationships with farmers, quality agrochemicals, branding and marketing expertise and its strong product portfolio.
During the financial year 2009-10, the company had posted a net profit of Rs101 crore, and revenues of Rs933 crore.