Rallis India reports flat revenues Rs 2,444 Cr with 17% growth YoY, PAT at Rs 161 Cr
Mumbai/IBNS: Rallis India Limited, a TATA Enterprise and a leading player in the Indian Agri inputs industry, registered 0.3% growth in revenue in Q3FY23.
Announcing the results, Sanjiv Lal, Managing Director, and CEO, Rallis India said, “This has been in the backdrop of erratic rainfall in the Domestic market and headwinds in International business. During the quarter, our domestic Crop Protection business grew by 7.7%, Crop Nutrition business by 22%. Exports declined by 6.5%, primarily due to inventory build-up at the customer end. Our seeds business revenue was Rs 24 crore vs Rs 28 crore Q3 PY."
For the ongoing Rabi, we remain positive due to increasing crop acreages and robust commodity prices.
Our long-term focus continues to be investing in growth through new product introduction, expanding our retail footprint, and investing in flexible Multipurpose manufacturing plants for our new product pipeline.
We are also consistently prioritizing Technology & Digital Transformation projects in our Operations viz. Manufacturing, Customer engagement, and Supply chain” he added.
Key Highlights – Q3FY23
The Company recorded revenues of Rs 630 crore for the quarter ending December 31, 2022, an increase of 0.3% over PY of Rs 628 crore. Profit before tax (before exceptional items) was at Rs 30 crore as compared to PY of profit before tax (before exceptional items) of Rs 53 crore and the Profit after tax (after exceptional items) was Rs 23 crore, as compared to PY profit after tax (after exceptional item) of Rs 40 crore.
Key Highlights – YTD
The Company recorded revenues of Rs 2,444 crore for the period ended December 31, 2022, an increase of 17% over PY of Rs 2,096 crore. Profit before tax (before exceptional items) was at Rs 216 crore as compared to PY of profit before tax (before exceptional items) of Rs 239 crore and the Profit after tax (after exceptional items) was Rs 161 crore, as compared to PY profit after tax (after exceptional item) of Rs 178 crore.
Key Developments
·Rallis India was conferred with the “36th National Convention on Quality Concepts Award” for its Ankleshwar plant under the Allied Six Sigma Concept category for the project “Manufacturing Efficiency” (Yield & Safety Improvement) in December 2022
·Rallis India has Launched 9(3) Pre-emergent herbicide - Daksh Plus (Pendimethalin + Metribuzin) for Wheat crop
·Rallis India signed an MoU with Garuda Aerospace to provide end-to-end operation of drone-based service
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