Excel Crop Care sales declined 18.7% in Q1 2011

Indian agrochemical company Excel Crop Care net sales declined 18.7% to to Rs 160.28 crore in the quarter ended June 2011 as against Rs 197.24 crore during the previous quarter ended June 2010. Net profit declined 64.38% to Rs 6.27 crore in the quarter ended June 2011 as against Rs 17.60 crore during the previous quarter ended June 2010. The drop in the turnover being mainly owing to the loss of sale of endosulfan, said Mr. A. C. Shroff, Chairman of Excel Crop Care. The domestic sale in the first quarter in 2011 declined 6.2% to Rs. 132.55 crores as against Rs. 141.37 crores in the same quarter in 2010. Whereas the export turnover declined 50.4% to Rs. 27.73 crores as against Rs. 55.87 crores in the previous year, the profit before tax and prior period adjustments was Rs. 14.50 crores as compared to Rs. 25.71 crores.

Mr. A. C. Shroff informed that the Company had stepped up its efforts to promote other molecules in its insecticides portfolio as well as weedicide and fumigation products which had helped the Company in partly off-setting the loss of endosulfan business. The Company will continue focus on export and investment in product registration in the export markets with a view to expand to new geographies and penetrate existing markets and that the Company’s newly set up subsidiary in Tanzania Viz. Excel Crop Care (Africa) Limited, had commenced operations this year.

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