Company records 31 per cent growth in the Crop Care business and 12 per cent growth in Seeds in Q2 FY 22-23
Rallis India Limited, a TATA Enterprise and a leading player in the Indian Agri inputs industry announced its financial results for the second quarter of the financial year ending 30 Sep 2022.
Announcing the results, Sanjiv Lal, Managing Director, and CEO, Rallis India said, “Our Q2 revenues grew more than 31 per cent over last year on the back of 31 per cent growth in the Crop Care business and 12 per cent growth in Seeds.
Within our Crop Care, exports grew by 67 per cent and the domestic formulation business grew by 13 per cent growth. Despite the uneven distribution of monsoon, domestic business leveraged our geographic and portfolio diversity to achieve growth. While margins were satisfactory in the domestic business, international business margins were lower compared to Q2 of the previous financial year. Going forward, we continue to remain focused on our long-term growth plans of new product introduction and capital investment”.
The Company recorded revenues of Rs 951 Crore for the quarter ending September 30, 2022, an increase of 31 per cent over PY of Rs 728 Crore Profit before tax (before exceptional items) was at Rs 95 Crore as compared to PY of profit before tax (before exceptional items) of Rs 76 Crore and the Profit after tax (after exceptional items) was Rs71 Crore as compared to PY profit after tax (after exceptional item) of Rs 56 Crore
Key Highlights – H1
The Company recorded revenues of Rs1814 Cr for the period ended September 30, 2022, an increase of 24 per cent over PY of Rs 1468 Crore Profit before tax (before exceptional items) was at Rs 186 Crore as compared to PY of profit before tax (before exceptional items) of ₹186 Cr and the Profit after tax (after exceptional items) was Rs 139 Crore, as compared to PY profit after tax (after exceptional item) of Rs 139 Crore.
