Mumbai: Rallis India, a Tata enterprise and a leading player in the Indian crop protection industry, announced its financial results for the quarter ended June 30, 2012.
Consolidated Key Highlights – Q1 FY13
Net sales registered a growth of 16 percent at Rs338.31 crore as compared to Rs291.59 crore during the Q1 PY. Net profit (after minority interest) for the Q1 FY13 was Rs24.17 crore (Rs23.12 crore for Q1 PY). The net profit for the current quarter includes a net forex loss of Rs5 crore (net forex gain of Rs0.29 crore in Q1 2011-12) and income from sale of fixed assets of Rs7.83 crore.
The profit from operations (before exceptional items, other income and forex loss) for the quarter was Rs34.08 crore as against that of the previous quarter, which was Rs37.66 crore. EBITDA margins are at 12.3 percent (14.8 percent Q1 PY) on Rallis consolidated basis.
The above results also include those of the subsidiary company Metahelix Life Sciences (including its wholly-owned subsidiary Dhaanya Seeds), which was acquired (majority stake) in December 2010. Shareholding of Rallis in Metahelix on June 30, 2012, was 75.64 percent as against 60.21 percent on June 30, 2011.
Commenting on the performance, V Shankar, managing director and CEO, Rallis India, said, “I am pleased that the company has increased the revenue to Rs338.31 crore against a backdrop of delayed monsoons and kharif season progress. Quarter one being primarily a placement season, we are hopeful that the rainfall situation will improve and the delayed kharif will pan out well in the subsequent period for agriculture."