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Rallis India’s Sales Up 16 Per Cent

30 April 2014

INDIA - Mumbai based agrochemical company, Rallis India has registered a 16 per cent growth in net sales at $52.94 million for the fourth quarter ended 31 March.

During the same period last year, the company recorded $45.58 million in net sales, the company said in a statement on April 24, 2014.

The company profit after tax (PAT) also recorded a 71 per cent growth at $3.10 million, as compared to $1.79 million posted in the same period last year.

The company said the quarter performance was driven by both increase in volumes as well as value improvements due to price adjustments necessitated by the cost increases through the year.

The margin improvement also reflected the gains from operating efficiencies, better cash management, tighter working capital control and lower interest costs, the statement adds.

The company also declared final dividend of $0.03 per share.

Speaking on the performance, V Shankar, managing director and CEO, Rallis India said, “While this has been a good monsoon year overall, the rainfall conditions through the agricultural seasons have not been conducive throughout. The year saw good growth in volumes in both domestic and international businesses, and we also saw value firm-up as the year progressed.”

Commenting further on the non-pesticides portfolio (NPP), Shankar added: “Our focus on the new initiatives continued and brought in good progress during the year with the NPP portfolio contributing to over 30 per cent of our revenues.”

Overall during the fiscal year of 2013-14 (March 2013-April 2014), the company’s PAT rose by 28 per cent to $24.83 million, against $19.44 million. Net sales grew by 20 per cent to $282 million, as compared to $235 million during 2012-13 fiscal year.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) margin for the year improved by 50 bps to touch around 15.10 per cent, the company statement added.

The company said that its Dahej plant operated at full capacity and contributed well to the company’s growth and international business grew both by volume and value contributing to 33 per cent of the company revenues.

 

TheCropSite News Desk



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