Rallis India Limited, a TATA Enterprise and a leading player in the Indian agri-inputs industry announced its financial results for the quarter ended 30 September 2020.
The company witnessed a moderate quarter-ending with 3% decrease in revenues YoY, despite strong domestic performance. 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.
Consolidated Key Highlights - Q2
The Company recorded consolidated revenues of ₹725 Crs for the quarter ended 30 September, 2020, a decline of 3% over PY of ₹749 Crs. Profit before tax (before exceptional items) was at ₹108 Crs, with a growth of 3% over PY of ₹105 Crs and the profit after tax (after exceptional items) was ₹83 Crs, registering a decline of 2 % over PY of ₹85 Crs.
Consolidated Key Highlights - H1
The Company recorded consolidated revenues of ₹1388 Crs for the half year ended 30 September, 2020, a growth of 1% over PY of ₹1372 Crs. Profit before tax (before exceptional items) was at ₹228 Crs, with a growth of 19% (PY ₹192 Crs) and the profit after tax (after exceptional items) was ₹175 Crs, registering a growth of 21 % (PY ₹ 145 Crs).
Announcing the results, Mr. Sanjiv Lal, Managing Director and CEO, Rallis India said, "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."
Shares of RALLIS INDIA LTD. was last trading in BSE at Rs.273.4 as compared to the previous close of Rs. 272.4. The total number of shares traded during the day was 31114 in over 1444 trades.
The stock hit an intraday high of Rs. 279.15 and intraday low of 270.3. The net turnover during the day was Rs. 8539106.