Rallis India posts a consolidated net profit of Rs 91.87 crore for Q1FY21

Rallis India Ltd., a subsidiary of Tata Chemicals announced its quarterly results on July 22, 2020. The company posted a consolidated net profit of Rs 91.87 crore for Q1FY21, which increased by 52.58 per cent, as compared to Q1FY20 when it reported Rs 60.21 crore.

The consolidated net sales reported in Q1FY21 came in at Rs 662.7 crore, which increased by 6.33 per cent YoY from Rs 623.24 crore in Q1FY20. At EBITDA level, the company stood at Rs 128.29 crore in Q1FY21 that decreased by 0.83 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 129.37 crore.                                                                                                                                                    

EBITDA margin as of Q1FY21 was at 19.36 per cent that declined by 1.40 per cent YoY. The net profit margin in Q1FY21 came in at 13.86 per cent, which increased by 4.20 per cent YoY. The net profit margin in Q1FY20 was at 9.66 per cent.

The stock closed in the green at Rs 306 with growth of 2.22 per cent on BSE.

"With timely arrival of the monsoons and positive farmer sentiment, agricultural activity has picked up well. With the ongoing pandemic situation, we are taking all the safety measures at the organisation level as per the government guidelines.

"We have registered a 13.5 per cent revenue growth during Q1 for domestic crop care business on account of robust demand and a 3 per cent revenue growth in seeds sales over the previous year despite the challenges faced," Rallis India Managing Director and CEO Sanjiv Lal said.

Going forward, the company expects domestic demand to remain buoyant for crop care products, and exports to gradually pick up as well, he added.