Rallis India reports Consolidated Revenues at Rs. 741 crores, up 11.7% YoY

Rallis India Limited, a TATA Enterprise and a leading player in the Indian Agri inputs industry announced its financial results for the quarter ended 30 June 2021.

Announcing the results, Mr. Sanjiv Lal, Managing Director and CEO, Rallis India said, "India has witnessed an erratic monsoon this year, but with its revival, we can expect the agricultural activities to pick up pace. Q1 witnessed the second wave of COVID-19 that impacted our business to some extent and we continued to navigate our business with the principal focus firmly being on employee safety. In spite of these challenges, the Company has registered a 31.2% revenue growth for the domestic crop care segment and a 3.1% increase in revenue from our seeds business in Q1. Going forward, we will continue to focus on leveraging opportunities by making investments in new product introduction, manufacturing, R&D and automation."

Consolidated Key Highlights - Q1

The Company recorded consolidated revenues of ₹741 crs for the quarter ended 30 June 2021, a growth of 11.7% over PY of ₹663 crs. Profit before tax (before exceptional items) was at ₹109 crs, lower by 9.2% over PY of ₹120 crs and the profit after tax was ₹82 crs, lower by 10.4% over PY of ₹92 crs.

Standalone Key Highlights - Q1

Rallis recorded standalone revenues of ₹741 crs for the quarter ended 30 June 2021, a growth of 11.7% over PY of ₹ 663 crs. Profit before tax (before exceptional items) was at ₹109 crs, lower by 9.1% over PY of ₹120 crs and the profit after tax was ₹82 crs, lower by 10.3 % over PY of ₹92 crs.

Key Developments - Q1

- High focus on safety amidst the second wave of COVID-19

- Vaccination drive conducted for operating team members; over 86% of our permanent staff and 48% of our contract staff vaccinated with at least 1 dose

- Successful launch of 3 new crop protection products, 1 crop nutrition product and 6 in seeds category

- Focus continued on supply chain and logistics amid lockdown limitations and high international freight rates

- Formulation plant to get commissioned in Q2 FY22

- Migration of packaging in line with new brand architecture underway

Shares of RALLIS INDIA LTD. was last trading in BSE at Rs. 327 as compared to the previous close of Rs. 333.25. The total number of shares traded during the day was 69157 in over 1259 trades.

The stock hit an intraday high of Rs. 335.65 and intraday low of 323. The net turnover during the day was Rs. 22561470.

Source : Equity Bulls

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