Financial Daily from THE HINDU group of publications
Saturday, Jan 24, 2004
Financial Daily from THE HINDU group of publications Saturday, Jan 24, 2004 |
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Corporate
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Outlook Rallis to focus on agrochemicals Our Bureau
Mumbai , Jan. 23 RALLIS India Ltd's decision to get out of gelatine business once again reiterates its resolution to focus on its core business - agrochemicals. However, the exit of the gelatine business would reflect in Rallis's balance sheet of fiscal 2004/2005 and not in the current fiscal, Dr V.S. Sohoni, Managing Director, Rallis India Ltd, said. He said the company would suffer a Rs 30 crore reduction in topline but the impact on its bottomline was negligible. The current fiscal should augur well for Rallis primarily because of increased offtake of agrochemicals on account of fairly widespread monsoon. The demand for the rabi season is also seen higher, Dr Sohoni said. In geographical terms, the pesticide business has done well in the northern States. In terms of crops, cotton as expected, reported a good pick up of agrochemicals, followed by vegetables, rice and wheat. Cotton in a normal year accounts for 40 per cent of total pesticide consumption. Rallis had ended 2002/2003 with a loss of Rs 77.27 crore. The losses were partly on account of the fact that the overall domestic pesticide industry went through a turbulent phase over the last few years. The drought during 2002-03 impacted the industry adversely mainly because lack of rains resulted in low pest infestation levels leading to poor offtake of agrochemicals.
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