Rallis India Q2 FY23 revenues grew 31% on the back of stable growth in the Crop Care and Seeds business

Date:10-26-2022

Rallis India Limited, a TATA Enterprise and a leading player in the Indian Agri inputs industry announced its financial results for the second quarter of the financial year ending 30 Sep 2022.

Key Highlights – Q2

The Company recorded revenues of ₹951 Cr for the quarter ending September 30, 2022, an increase of 31% over PY of ₹728 Cr. Profit before tax (before exceptional items) was at ₹ 95 Cr as compared to PY of profit before tax (before exceptional items) of ₹ 76 Cr and the Profit after tax (after exceptional items) was ₹ 71 Cr, as compared to PY profit after tax (after exceptional item) of ₹ 56 Cr.

Key Highlights – H1

The Company recorded revenues of ₹1814 Cr for the period ended September 30, 2022, an increase of 24% over PY of ₹1468 Cr. Profit before tax (before exceptional items) was at ₹186 Cr as compared to PY of profit before tax (before exceptional items) of ₹186 Cr and the Profit after tax (after exceptional items) was ₹139 Cr, as compared to PY profit after tax (after exceptional item) of ₹139 Cr.

Key Developments

• Rallis India launched Clasto (Pyrifluquinazon), a 9(3) insecticide for Whitefly on the Cotton crop, Capstone, a 9(3) fungicide for Paddy blast disease, and 9(4) products viz. Clue (Pymetrozine) for Paddy BPH, Onto (Quinalphos) Broad spectrum insecticide for Multiple Crops, Castello (Difenoconazole) fungicide for Grapes, F&V
  

• Launched two products in the Crop Nutrition portfolio viz. Rallizin (FCO- Zinc based) and Paclo 9(4)
  

• MPP project at Dahej SEZ is progressing with some delays and is expected to be commissioned during this financial year
  

• Digital Transformation projects in Manufacturing, Customer engagement, and Supply chain transformation are progressing as per plans
  

Announcing the results, Mr. Sanjiv Lal, Managing Director, and CEO, Rallis India said, ″Our Q2 revenues grew 31%+ over last year on the back of 31% growth in the Crop Care business and 12% growth in Seeds. Within our Crop Care, exports grew by 67% and the domestic formulation business grew by 13% growth. Despite the uneven distribution of monsoon, domestic business leveraged our geographic and portfolio diversity to achieve growth. While margins were satisfactory in the domestic business, international business margins were lower compared to Q2 of the previous financial year. Going forward, we continue to remain focused on our long-term growth plans of new product introduction and capital investment.″

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