Rallis India Limited, a leading player in the Indian agri-inputs industry has 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.

 

Announcing the results, Sanjiv Lal, Managing Director and CEO, Rallis India said, “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."

 

The company recorded consolidated revenues of Rs. 725 crore for the quarter ended 30 September, 2020, a decline of 3% over PY of Rs. 749 crore. Profit before tax (before exceptional items) was at Rs. 108 crore, with a growth of 3% over PY of Rs. 105 crore and the profit after tax (after exceptional items) was Rs. 83 crore, registering a decline of 2% over PY of Rs. 85 crore. 

 

The company recorded consolidated revenues of Rs. 1,388 crore for the half year ended 30 September, 2020, a growth of 1% over PY of Rs. 1,372 crore. Profit before tax (before exceptional items) was at Rs. 228 crore, with a growth of 19% (PY Rs. 192 crore) and the profit after tax (after exceptional items) was Rs. 175 crore, registering a growth of 21% (PY Rs. 145 crore).

 

The Capex program, generally on course, although delays expected due to site conditions following excessive rainfall and manpower availability.