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Domestic business of Rallis India jumps 35 per cent in Q3FY20
−− In this quarter, domestic business grew by 35 per cent YoY and international sales by 24 per cent YoY.
Jan. 20, 2020
Rallis India Limited
IndiaFollow
India
The consolidated revenue for the quarter Q3FY20 came in at Rs 533.6 crore, as against Rs 417.35 crore in the corresponding quarter last year, registering 27.9 per cent YoY increase. In this quarter, domestic business grew by 35 per cent YoY and international sales by 24 per cent YoY.
EBITDA for the quarter grew by 101.7 per cent YoY to Rs 55.74 crore as against Rs 27.63 crore in the corresponding quarter last year, with a corresponding margin expansion of 383 bps. EBITDA margin for the quarter stood at 10.4 per cent.
PAT for the quarter came in at Rs 38.05 crore as against Rs 13.76 crore in the corresponding quarter last year, with a YoY increase of 176.5 per cent.
During the quarter, company introduced two new formulations-Sarthak and Impeder. Looking at the expansion front, Metribuzin Phase II expansion of 500 MTPA is expected to be commercialised by February 1, 2020.
Sanjiv Lal, Managing Director and CEO, Rallis India said, “During the current crop season our business was supported by positive farmer sentiment, new product launches and refreshed trade policies. Our international business continued to perform positively amidst certain headwinds. Our capacity expansion at Dahej is progressing well. Our investments in R&D along with new products will continue to drive our long term growth. I am pleased to announce that the Board of Rallis has approved setting up of a new ‘state of the art’ R&D facility in Bengaluru to drive further growth”.
Source: Dalal Street Investment Journal
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