Rallis India stock gains 1% despite Q1 profit contracts to Rs82cr

Rallis recorded standalone revenues of Rs741cr for the quarter ended June 30, 2021, a growth of 11.7% over PY of Rs 663cr.

Jul 22, 2021 10:07 IST India Infoline News Service

Rallis India
Rallis India Limited, a TATA Enterprise and a leading player in the Indian Agri inputs industry has announced its financial results for the quarter ended June 30, 2021.

The Company recorded consolidated revenues of Rs741cr for the quarter ended June 30, 2021, a growth of 11.7% over PY of Rs663cr.

Profit before tax (before exceptional items) was at Rs109cr, lower by 9.2% over PY of Rs120cr and the profit after tax was Rs82cr, lower by 10.4% over PY of Rs92cr.

Rallis recorded standalone revenues of Rs741cr for the quarter ended June 30, 2021, a growth of 11.7% over PY of Rs 663cr. Profit before tax (before exceptional items) was at Rs109cr, lower by 9.1% over PY of Rs120cr and the profit after tax was Rs82cr, lower by 10.3 % over PY of Rs92cr.

Key Developments –Q1
  • High focus on safety amidst the second wave of COVID-19
  • Vaccination drive conducted for operating team members; over 86% of our permanent staff and 48% of our contract staff vaccinated with at least 1 dose
  • Successful launch of 3 new crop protection products, 1 crop nutrition product and 6 in seeds category
  • Focus continued on supply chain and logistics amid lockdown limitations and high international freight rates
  • Formulation plant to get commissioned in Q2 FY22
  • Migration of packaging in line with new brand architecture underway
Announcing the results, Sanjiv Lal, Managing Director and CEO, Rallis India said, “India has witnessed an erratic monsoon this year, but with its revival, we can expect the agricultural activities to pick up pace.

Q1 witnessed the second wave of COVID-19 that impacted our business to some extent and we continued to navigate our business with the principal focus firmly being on employee safety.

In spite of these challenges, the Company has registered a 31.2% revenue growth for the domestic crop care segment and a 3.1% increase in revenue from our seeds business in Q1.

Going forward, we will continue to focus on leveraging opportunities by making investments in new product introduction, manufacturing, R&D and automation.”
At around 10:21 AM, Rallis India was trading at Rs330.25 per piece up by Rs2.7 or 0.82% on Sensex.

Related Story

Open Free Demat Account (Rs699)