Domestic crop care business grew by 15% and seeds business by 38% albeit on a smaller base.
Rallis India Limited, a TATA Enterprise and a leading player in the Indian agri-inputs industry announced its financial results for the quarter ended 31 December 2020.
Announcing the results, Sanjiv Lal, Managing Director and CEO, Rallis India said, “During the current crop season, our business has witnessed a favourable demand resulting in an overall growth of 7 per cent. In the domestic market, growth in Rabi’s sowing area was supportive and our domestic crop care business grew by 15 per cent and seeds business by 38 per cent albeit on a smaller base. Export demand also witnessed a revival, as the revenue shortfall vs PY narrowed in Q3. All our capex projects are progressing satisfactorily and are on schedule. As the world witnesses a new strain of the COVID-19 virus, employee safety continues to be our priority.”
Consolidated Key Highlights – Q3
The Company recorded consolidated revenues of ₹570 Crs for the quarter ended 31 December, 2020, a growth of 7 per cent over PY of ₹534 Crs. Profit before tax (before exceptional items) was at ₹56 Crs, with a growth of 16 per cent over PY of ₹48 Crs and the profit after tax (after exceptional items) was ₹46 Crs, registering a growth of 20 per cent over PY of ₹38 Crs.
Consolidated Key Highlights – 9M
The Company recorded consolidated revenues of ₹1958 Crs for the nine months ended 31 December, 2020, a growth of 3 per cent over PY of ₹1906 Crs. Profit before tax (before exceptional items) was at ₹284 Crs, with a growth of 18 per cent (PY ₹240 Crs) and the profit after tax (after exceptional items) was ₹220 Crs, registering a growth of 20 per cent (PY ₹183 Crs).
Key Developments –
- Continued high focus on safety and health of employees, amidst the pandemic
- 1 new insecticide and 3 new crop nutrition products launched
- Continued up stocking of raw materials to avert production disruptions due to potential supply chain issues
- 14% revenue growth on YTD basis in the domestic formulation business. Strong support by flagship brands
