Rallis net jumps 40 pc to Rs 33 cr

Written by: Pti
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Mumbai, Jan 17 (PTI) Tata Group company Rallis todayreported its best-ever result with a 40 per cent jump in itsthird quarter numbers to Rs 33 crore driven by a 32 per centspike in sales, despite challenging weather patterns impactingsales.

"Our performance in this quarter has been thehighest-ever for any quarter, both in terms of revenues andoperating financials. Growth has been driven by our valueadding offerings which were introduced in the past four years.

I am pleased that despite the setback due to unseasonal rains,our performance has been the best-ever," Rallis India ManagingDirector and Chief Executive V Shankar said here today.

The company reported a 32 per cent jump in sales toRs 268 crore during the reporting period. In the same periodlast year, Rallis had a net profit of Rs 24 crore and netsales of Rs 202 crore.

However, rising input cost has driven down net marginsby a full 200 basis points in the reporting quarter to 20 percent, from 22 per cent in the year-ago period. But Shankarsaid this is in line with the company''s objective as its focusnow is topline growth.

The company enjoys 12 per cent market share of the Rs7,000 crore domestic crop protection market, Shankar said,adding, there has been considerable growth in the herbicideareas since the past few years. This is much lower than theglobal average of 50 per cent, in the country, herbicide usageis still low at 10-15 per cent of pesticide intake.

Company as a policy does not offer any forward lookingstatements Shankar said when asked for his outlook for Q4,which normally is a lean season.

He further said their Dahej plant will becommissioned very shortly and over the next five years, itwill add Rs 1,000 crore to the topline.

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