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HomePosts Tagged "Managing Director & CEO"
Agribusiness, Agro chems – Chemicals, Company News, Finance, India

Company reported PAT Rs 331 Cr in Q1 FY25 vs Rs 505 Cr in Q1 of previous year.

Coromandel International Limited, India’s leading Agri solutions provider is in the business of Fertilisers, Crop Protection Chemicals, Bio products, Specialty Nutrients, Organic Fertilizer and Retail. The Company has reported the financial results for the quarter ended 30th June 2024. Company’s total income for the quarter ended June 2024 was at Rs 4,783 Cr vs. Rs 5,740 Cr for the quarter ended June 2023. The profit after tax for the quarter was at Rs 309 Cr as against Rs. 494 Cr for the quarter ended June 2023. Company’s EBITDA for Q1 was Rs. 507 Cr vs. Rs 710 Cr in Q1 of previous year. Company reported PAT Rs 331 Cr in Q1 FY25 vs Rs. 505 Cr in Q1 of previous year.

Nutrient and Allied Business

The Revenue for the quarter ended June 2024 was at Rs 4,198 Cr as against Rs. 5,192 Cr for the quarter ended June 2023, registering a year-on-year de-growth of 19 per cent. Profit before interest and tax for the quarter was Rs 436 Cr vs. Rs. 672 Cr for the quarter ended June 2023.

Crop Protection Business

The Revenue for the quarter ended June 2024 was at Rs 551 Cr as against Rs. 556 Cr for the quarter ended June 2023. Profit before interest and tax for the quarter was Rs 63 Cr vs. Rs 55 Cr for the quarter ended June 2023.

Commenting on the financial results, S Sankarasubramanian, Managing Director & CEO, Coromandel International Ltd. said, ″During the quarter, Coromandel made sequential recovery, registering healthy volume sales in Nutrients and Crop Protection businesses despite the delay in onset of monsoons. However, margins for the fertilizers business were impacted due to lower subsidy rates and rise in input costs.

Strengthening its backward integration capabilities has been one of the core focus areas for the company. Towards this, the fertilizer business has commenced activities for its Phosphoric acid (650 tpd)-Sulphuric acid (2000 tpd) complex at Kakinada. Further, to improve the operational efficiency and throughput at its phosphate mines at BMCC, Senegal, the company is setting up a fixed processing plant which is expected to be commissioned during the 2nd quarter of the year. During the quarter, the company commissioned Nano DAP plant at Kakinada and has set up Urea Super Phosphate unit at Nimrani, MP.

Crop Protection business volumes improved by 5 per cent driven by growth in technical and formulations. The company introduced ten new products during Q1 including four patented products. Its inlicenced formulation ‘Prachand’ has received very encouraging response from the market and business intends to introduce such novel formulations in coming periods by partnering with global innovators. The business has also finalized plans for setting up multi product plants for herbicide and fungicide manufacturing and activities for the same will commence during the year. The company continues to take progressive steps in strengthening its capabilities in Speciality chemicals and CDMO space.

Company reported PAT Rs 331 Cr in

Agribusiness, Agro chems – Chemicals, Company News, Finance, India, Inputs

 In Q1 FY24 company posted Profit after tax was Rs 48 Cr, as compared to Rs 63 Cr of Q1 FY24. Crop care delivered strong volume led revenue growth of 8 per cent.

Rallis India Limited (A TATA Enterprise) is a leading player in the Indian agri inputs industry announced its financial results for the quarter ended June 30, 2024. Announcing the results, Dr Gyanendra Shukla, Managing Director & CEO, Rallis India Limited, said, “The agrochemical Industry continues to face growth challenges due to muted price arising from oversupplies. Domestic demand is looking positive with monsoon arrival and pickup.

Our revenue for Q1 FY25 was at Rs 783 Cr at par with Rs 782 Cr of Q1 FY24, Profit after tax was Rs 48 Cr, as compared to Rs 63 Cr of Q1 PY. Crop care delivered strong volume led revenue growth of 8 per cent. Seeds revenue was down by 16 per cent vs PY largely due to supply constraints. Despite market challenges, concerted actions were taken to drive margins through better product mix and dynamic pricing. We are pleased with the progress of our new launch of “Clasto” in Crop Protection and “Diggaz” in Cotton Seeds. Water Soluble Fertilizers (WSF) plant was commissioned during the quarter to support the Crop Nutrition Business.

We remain cautious about the export market and expect a gradual recovery during the year. Sentiments for the domestic market are positive with the recent monsoon pick-up. On a long-term basis, Customer Centricity will remain a key thrust and we will continue to offer differentiated solutions to solve varying farmer needs. We will further intensify our efforts to build capabilities in Manufacturing, Digitalization and leverage Collaborations and Alliances”.

Key Developments: Q1 FY25

Successful Key New Products launches:

  • Crop Protection- Mark Plus (Diclosulam 0.9% + Pendimethalin 35% SE), 9(3) Herbicide for Soybean and Groundnut
  • Clifton (Mesotrione 2.27%+Atrazine 22.7% SC), Herbicide for Maize and Sugarcane
  • Kevat (Pyrithiobac Sodium 10 % EC), Herbicide for Cotton
  • Blend (Bifenthrin 10% + Thiamethoxam 5% SE), Insecticide for multiple crops
  • Crop Nutrition: Aquafert Pomegranate Grade Water Soluble Fertiliser
  • Seeds: 14 products across field and vegetable crops
  • “Dhaan ka power play” campaign launched to educate farmers of Punjab and Haryana about key Paddy products.

 In Q1 FY24 company posted Profit after

Agribusiness, Biofuel industry, Company News, India

The pilot plant is designed to produce 0.2 tons of biogas daily and the anticipated output is about 1 lakh standard cubic meters of biogas in FY 2024-25.

Maruti Suzuki India Limited (MSIL) announced the commencement of a pilot Biogas plant at its Manesar facility in the fiscal year 2024-25, harnessing the untapped potential of in-house food waste and Napier grass as resources at its plant. The initiative is in alignment with the Ministry of New and Renewable Energy’s ‘Waste to Energy’ program, reflecting our commitment to sustainable practices and innovative waste management solutions.

In FY 2023-24, the company invested Rs 120.8 crores towards commissioning renewable energy initiatives like solar power and biogas. It has further pledged to increase the investment approximately fourfold to Rs 450 crores spread over three years starting FY 2024-25. This will significantly boost MSIL’s environmental sustainability initiatives.

The pilot plant is designed to produce 0.2 tons of biogas daily. The anticipated output is about 1 lakh standard cubic meters of biogas in FY 2024-25. It will offset approximately 190 tonnes of CO2 per annum. Imbibing principles of circularity, the company will be using food waste from canteens and Napier grass as raw materials. The pilot biogas plant will provide energy for the manufacturing processes of company’s Manesar facility. The residual organic manure will be utilised in horticulture effectively making it a zero-discharge model.

Speaking on the company’s upcoming green energy initiatives, Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited said, “Energy is one of the critical inputs in the manufacturing process. As we ramp up our production capacity from around 2 million to 4 million by 2030-31, we are also accelerating our efforts to increase the share of sustainable and renewable energy sources across our operations. This is in line with Suzuki’s Environment Vision 2050 and Govt of India’s renewable energy focus. The biogas plant at Manesar is another step towards fostering a cleaner and more sustainable energy landscape at MSIL and the industry at large. Just as we are bringing multiple technologies in our products, we would also focus on multiple renewable energy sources to make our operations greener.”

Furthermore, Takeuchi added, “We strategically invest in our existing and upcoming facilities to ensure they are environmentally sustainable by optimizing energy consumption, integrating renewable energy sources, implementing efficient waste management protocols, and conserving water resources. The learning from this pilot will be implemented at our upcoming world-class manufacturing facilities.”

The pilot plant is designed to produce

Agribusiness, Agro chems – Chemicals, Company News, Finance, India, Seeds

Company registered Rs 148 Crores Profit After Tax in FY24 is compared to Rs 92 Crores for FY 23.

Rallis India Limited, a TATA Enterprise and a leading player in the Indian agri inputs industry announced its financial results for the fourth quarter of the financial year ending March 2024.

Announcing the results, Dr Gyanendra Shukla, Managing Director & CEO, Rallis India Limited, said, “FY24 PAT is Rs 148 Crores compared to Rs 92 Crores for FY 23. Company reported FY 24 revenue at Rs 2648 Crores, lower by 11 per cent over the previous year in the backdrop of continuing challenges in the exports demand and low agro-chemical prices. Positive low single digit volume growth in our Domestic Formulation business. Seeds revenue grew 21 per cent and delivered break-even profit. This was driven by the superior performance of our Cotton hybrids viz. Diggaz and Aatish Express. Our Innovation turnover index has also improved to 16 per cent in FY24.

Exports business declined by 35 per cent and the market continues to be under pressure due to Geo-political unrest and continuing de-stocking.

On a long-term basis, we remain focused on improving our market position through superior product offerings to solve farmer needs. We will continue our investment behind marketing, manufacturing, and digitization capabilities to build differentiation.”

Key Developments

Company has begun the work on new “Rallis Science and Technology Centre (RSTC)” to augment innovation capabilities

Continued its focus on refreshing its Domestic crop care portfolio and launched 3 new products in Crop nutrition portfolio in Q4FY24

Rallis was conferred with Significant adoption award for best in class by Tata Affirmative Action Programme (TAAP)

Rallis has been honoured with the Award of Merit at 1st edition of the CII National Awards for Artificial Intelligence (AI) 2023 for its AI based crop weather monitoring platform ‘Drishti’

Rallis is recognized as “Kincentric Best Employer” 2023 as one of India`s top 16 companies.

Company registered Rs 148 Crores Profit After

Agribusiness, Agro chems – Chemicals, Company News, Finance, India, Inputs

 Company’s Profit After Tax Margin improved by 60 bps under challenging conditions.

Rallis India Limited, a TATA Enterprise and a leading player in the Agri inputs industry announced its financial results for the quarter ended December 31, 2023.

The Company recorded revenue of Rs 598 Cr for the third quarter ending December 31, 2023, vs Rs 630 Cr over PY. Profit after tax (after exceptional items) was at Rs 24 Cr vs Rs 22 Cr of PY.

Announcing the results, Sanjiv Lal, Managing Director & CEO, Rallis India, said, “During the Quarter, our Domestic business maintained its momentum despite challenging external conditions, recording volume growth of 7 per cent. However, challenges continued on the export front due to steep price drop and weak demand on account of continuing inventory overhang at industry level. Our focus on optimizing working capital and margin improvement continues.

We are closely monitoring Global market demand recovery and remain cautious about El Nino conditions. Global agro-chemical demand is still soft and is expected to recover only next financial year. Meanwhile, the company’s long-term strategy remains unchanged and is focused on refreshing product portfolio, widening of market reach, increasing manufacturing capacities and digitalization in operations”.

Key Developments

Continued its focus on refreshing its Domestic crop care portfolio and launched 3 new products in Crop Care & 4 in Seeds

CSM: Commercial dispatches done for one active ingredient and one formulation from our new MPP and Formulation facilities respectively.

Rallis will commence the construction of integrated R&D facility. Rallis is also planning to further expand capacity of “Pendimethalin”

Rallis awarded with Silver award by “ICAI Sustainability Reporting Awards FY23” for BRSR reporting.

 Company’s Profit After Tax Margin improved by

AgroPolicy, Agrotech, India

More than 2,165 FPOs of 8 lakh farmers are doing business through online platform ONDC.

The Ministry of Agriculture and Farmers Welfare, Small Farmers Agri-Business Association (SFAC), and CSC jointly organized a Farmer Producer Organization (FPO) Mela at INA Market, Delhi Haat. Major FPOs from across the country participated in the fair, displaying a wide range of products from more than 20 FPOs. Visitors had the opportunity to taste and experience the essence of natural products at the fair.

FPOs are groups of farmers that run commercial activities related to farming and crop production in their area. They provide farmers with discounts on wholesale prices of agricultural inputs, such as manure, seeds, fertilizers, and equipment, and also help farmers sell their finished crops and produce in the market. FPOs are playing a vital role in boosting the rural economy.

To make it easier for farmers to access markets, the government has either formed or is in the process of forming an FPO in every block in the country. Today, more than 2,165 FPOs of 8 lakh farmers are doing business through the online platform ONDC.

Speaking at the event, Managing Director & CEO, CSC SPV, Sanjay Rakesh said that CSC has always strived to improve the lives of citizens in rural areas through various initiatives. Farmers and agriculture are an integral part of our initiative.

 Thanks to the vast network of CSCs present in remote areas of the country, we are already providing various services to the farmers through tele-consultation, crop insurance, e-veterinary, Kisan Credit Card and PM Kisan schemes.

In this context, we are working with full enthusiasm in the formation of FPOs across the country. Our VLEs through FPOs are playing a big role in the empowerment of farmers across the country. CSCs provide rural citizens with access to a variety of government services at their doorstep, such as caste, income, domicile, character certificates, and employment registration.

 Through these services, CSCs have played a remarkable role in helping the people of India in the field of e-governance. More than 5.5 lakh CSCs located in remote areas of the country have changed the lives of the citizens.

According to an estimate, there are more than 12 crore small and marginal farmers in India, with an average land holding size of less than 1.1 hectares. Most small and marginal farmers need access to both production and post-production functions, such as technology, quality inputs at reasonable prices, seed production, units of farming machinery, value added products, processing, credit, investment, and most importantly, markets. Collectivisation of such producers through formation of FPOs is crucial to address these challenges and increase farmers’ income.

The FPO Mela held in Delhi Haat was a successful event that showcased the wide range of products and services offered by FPOs. It also provided a platform for farmers to learn about the benefits of joining FPOs and how to access FPO services.

More than 2,165 FPOs of 8 lakh