Crop Care grew by 8% yoy and Seeds by 29%. However, international revenues were under pressure, recording a decline of 29%.
Rallis India Limited,a TATA Enterprise and a leading player in the Indian agri-inputs industry announced its financial results for the quarter ended September 30, 2020. The company recorded consolidated revenues of Rs725cr for the quarter ended September 30, 2020, a decline of 3% over PY of Rs749cr, despite strong domestic performance.
Profit before tax (before exceptional items) was at Rs108cr, with a growth of 3% over PY of Rs105cr and the profit after tax (after exceptional items) was Rs83cr, registering a decline of 2 % over PY of Rs85cr. Crop Care grew by 8% yoy and Seeds by 29%. However, international revenues were under pressure, recording a decline of 29%. EBITDA margins were stable.
Rallis India recorded consolidated revenues of Rs1388cr for the half year ended September 30, 2020, a growth of 1% over PY of Rs1372cr. Profit before tax (before exceptional items) was at Rs228cr, with a growth of 19% (PY Rs192cr) and the profit after tax (after exceptional items) was Rs175cr, registering a growth of 21 % (PY Rs145cr).
“Gradual return to normalcy and a good monsoon season have led to a favourable momentum for agricultural activities. Even though we are now in the Unlock phase, we continue to prioritise the safety and wellbeing of our employees. We have registered an 8% revenue growth during Q2 for domestic crop care business and a 29% revenue growth in seeds.
Product specific challenges in the international business resulted in 29% YoY de-growth during Q2. Strong operating discipline resulted in improved cash from operating activities. Despite covid challenges, our capex program and focus on new product introduction remain on course,” Sanjiv Lal, Managing Director and CEO, Rallis India said.