Sabero Organics Q1 2010 revenue slips 18%

Indian agrochemical company, Sabero Organics first quarter ended June 2010, with total revenue falling 18% to $1 billion, according to company financial reports. Part of the decrease was due to debottlenecking monocrotophos and chloropyriphos plants; production in those plants was much lower in the quarter. The monocrotophos plant incrased capacity from 2,200 to 4,400 tonnes per annum, but only started producing the higher rate in mid-May. The chloropyriphos plant is expected to start production again by September with a 50% increase in capacity. Another plant is currently under construction, will produce the fungicide propineb starting by the end of the third quarter.

Absolute operating profit rose 17% over the same quarter last year to $179.8 million. Net profit after tax grew 21% to $83.6 million on a year-on-year basis.

Sabero has begun to export methamidaphos to Zimbabwe and mancozeb to Ghana. Around 50% of the companys revenue comes from the domestic market and the remaining 50% from exports.