Rallis India reports 7.7 percent growth in domestic crop protection business in Q3
19 January 2023, Mumbai: Rallis India Limited, a TATA Enterprise announced its financial results for the third quarter of the financial year ending 31 December 2022.
The Company recorded revenues of ₹630 Cr for the quarter ending December 31, 2022, an increase of 0.3% over PY of ₹628 Cr. Profit before tax (before exceptional items) was at ₹30 Cr as compared to PY of profit before tax (before exceptional items) of ₹53 Cr and the Profit after tax (after exceptional items) was ₹23 Cr, as compared to PY profit after tax (after exceptional item) of ₹40 Cr.
The Company recorded revenues of ₹2,444 Cr for the period ended December 31, 2022, an increase of 17% over PY of ₹2,096 Cr. Profit before tax (before exceptional items) was at ₹216 Cr as compared to PY of profit before tax (before exceptional items) of ₹239 Cr and the Profit after tax (after exceptional items) was ₹161 Cr, as compared to PY profit after tax (after exceptional item) of ₹178 Cr.
Mr. Sanjiv Lal, Managing Director, and CEO of Rallis India said, “Our Q3 revenues witnessed 0.3% growth over last year. This has been in the backdrop of erratic rainfall in the Domestic market and headwinds in International business. During the quarter, our domestic Crop Protection business grew by 7.7%, Crop Nutrition business by 22%. Exports declined by 6.5%, primarily due to inventory build-up at the customer end. Our seeds business revenue was Rs 24 Cr vs Rs 28 cr Q3 PY.”
“The long-term focus continues to be investing in growth through new product introduction, expanding our retail footprint, and investing in flexible Multipurpose manufacturing plants for our new product pipeline. We are also consistently prioritizing Technology & Digital Transformation projects in our Operations viz. Manufacturing, Customer engagement, and Supply chain” he added.
The company has launched a pre-emergent herbicide Daksh Plus (Pendimethalin + Metribuzin) for Wheat crop and has also signed an MoU with Garuda Aerospace to provide end-to-end operation of drone-based services to farmers.
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