Rallis India has reported 40 per cent rise in net profit at Rs 34 crore in the December quarter against Rs 24 crore recorded in the same period last year. Net sales jumped 32 per cent to Rs 268 crore (Rs 203 crore).

Though EBIDTA in absolute term increased 15 per cent to Rs 53 crore (Rs 46 crore),

EBIDTA margins were a tad lower at 20 per cent in the quarter under review against 22 per cent in corresponding quarter last year due to product usage.

Mr V. Shankar, Managing Director, Rallis India, said the growth has been driven by value-added offerings introduced in the last four years.

“Despite the setback due to unseasonal rains our farmers and channel access driving productivity solutions has kept up our performance,” he said.

The company is set to start commercial production at Dahej plant by end of this quarter as it awaits final approval by end of this month.

The plant, built with an investment of Rs 150 crore, is likely to cumulatively add Rs 1,000 crore over five years, said Mr Shankar.

The plant, with a capacity of 5,000 tonnes, will be a multi-purpose technical manufacturing facility for a number of agro-chemical products.

New seeds

Rallis India has proposed to launch new seeds developed by its recently acquired-Metahelix Life Sciences, a Bangalore-based seeds research company.

Taking into consideration of the prevailing negativity due to unseasonal rains and farmers' affordability, the company has not undertaken any serious price revision despite increase in raw material cost, said Mr Shankar.

branding

On the recently-launched branded pulses business, Mr Shankar said, the company has identified six other crops to be launched under i-Shakti brand, but would cover the entire pulses group and banana under the brand first.

The company's shares on BSE were down 4 per cent at Rs 1,297 on Monday.

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