Rallis India, a Tata Group firm, with a more than 150-year history. The business manufactures agrochemicals and supplies agricultural inputs along the whole value chain, from seeds to organic plant development nutrients. Rallis also engages in contract manufacturing for large multinational companies.
Financial Results:
Rallis India Ltd. reported a 43% drop in net profits for the December quarter at 22.55 crore due to subpar sales growth and higher costs. In the same time the previous year, Rallis had generated a net profit of 39.55 crore. The total revenue for the December quarter increased slightly over the same period last year, from 628 crore to 630 crore.
“Our Q3 revenues witnessed 0.3% growth over last year. 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 Cr vs Rs 28 cr Q3 PY.”
– Mr. Sanjiv Lal, Managing Director & CEO