Rallis India Limited - Q2FY22 Highlights

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

Announcing the results, Mr. Sanjiv Lal, Managing Director and CEO, Rallis India said, "The erratic monsoon season this year was not favourable to agri input companies in the last quarter. In this backdrop, our domestic crop care business grew by 3%, but the seeds business declined by 65%. The drop in the seeds business was due to the changes in cropping patterns witnessed across the country as well as the proliferation of spurious cotton seeds. The overall good cumulative rainfall witnessed in Kharif also augurs well for the upcoming Rabi agricultural season.

Meanwhile, the Company's efforts towards dealing with logistic issues helped in exports delivering growth of 22% during the quarter.

The raw material situation continues to be tough and we are focussed on minimising the disruptions to our production as much as possible.

On a longer term basis, our capex plans, new product introduction plans and demand generation investments remain on course as we do believe that normalcy will be restored progressively.

While positioning ourselves so, we are also consistently prioritising the safety and well-being of all our employees and other stakeholders."

Consolidated Key Highlights - YTD Sep

The Company recorded consolidated revenues of ₹1468 Cr for the period ended 30 September, 2021, a growth of 6% over PY of ₹1388 Cr. Profit before tax (before exceptional items) was at ₹186 Cr, with a decline of 19% over PY of ₹228 Cr and the profit after tax (after exceptional items) was ₹139 Cr, registering a decline of 21% over PY of ₹175 Cr.

Consolidated Key Highlights - Q2

The Company recorded consolidated revenues of ₹728 Cr for the quarter ended 30 September, 2021, a modest growth of 0.4% over PY of ₹725 Cr. Profit before tax (before exceptional items) was at ₹76 Cr, with a decline of 29% over PY of ₹108 Cr and the profit after tax (after exceptional items) was ₹56 Cr, registering a decline of 32% over PY of ₹83 Cr

Shares of Rallis India Limited was last trading in BSE at Rs. 303.70 as compared to the previous close of Rs. 319.50. The total number of shares traded during the day was 111854 in over 4902 trades.

The stock hit an intraday high of Rs. 324.85 and intraday low of 290.00. The net turnover during the day was Rs. 35112230.00.

Source : Equity Bulls

Keywords

RallisIndia INE613A01020 Agrochemicals Q2FY22Highlights