21 July 2022, Mumbai: Rallis India Limited, a TATA Enterprise and a leading player in the Indian Agri inputs industry announced its financial results for the first quarter of the financial year starting April 2022.
Announcing the results, Mr Sanjiv Lal, Managing Director, and CEO, Rallis India said, “In Q1, we witnessed a strong growth of 16.5% in revenue on the back of 17.1% growth in domestic crop care business and 51% growth in exports. However, we faced cost headwinds which affected our margins. In the seeds business, there were challenges of delayed monsoon and crop shifts. The revival of monsoons in July augurs well for agriculture.”
“Our 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 multiple chemistry capabilities required for our new product pipeline” he added.
Key Highlights – Q1
The Company recorded revenues of ₹ 863 Cr for the quarter ending 30 June 2022, an increase of 16.5% over PY of ₹ 741 Cr. Profit before tax (before exceptional items) was at ₹ 90 Cr as compared to PY of profit before tax (before exceptional item) of ₹ 109 Cr and the Profit after tax (after exceptional items) was ₹ 67 Cr, as compared to PY profit after tax (after exceptional item) of ₹ 82 Cr.
- With the announcement of CAPSTONE, Rallis India became the first company in India to introduce FENOXANIL
- Launched 1 new herbicide for Cotton and Paddy crops each, 3 new Paddy hybrids and a Tomato hybrid
- Received product registrations for ‘Daksh Plus’ – a Wheat herbicide – and ‘Clasto’ – a Cotton insecticide