October 23, 2018

Rallis India revenues up 11 percent, net profit rises to Rs85 crore

Mumbai: Rallis India, a Tata enterprise and a leading player in the Indian crop protection industry, announced its financial results for the quarter and six months ended September 30, 2018.

Consolidated key highlights – Q2

Rallis registered revenues of Rs654 crore (Rs588 crore), up by 11 percent for the quarter ended September 30, 2018. Total comprehensive income at Rs85 crore also rose 11 percent over last year.

Consolidated key highlights – H1

The company totalled revenues of Rs1,227 crore (Rs1,047 crore), up 17 percent for the six months ended  September 30, 2018.  Total comprehensive income was at Rs140 crore (Rs120 crore), which too registered an increase of 17 percent.

Standalone key highlights – Q2

Rallis registered revenues of Rs613 crore (Rs549 crore), up by 12 percent for the quarter ended September 30, 2018. Total comprehensive income at Rs88 crore increased 8 percent over last year.

Standalone key highlights – H1

The company totalled revenues of Rs966 crore (Rs810 crore), up by 19 percent for the six months ended September 30, 2018.  Total comprehensive income was at Rs96 crore (Rs81 crore), a 19 percent growth.    

Commenting on the performance and developments, V Shankar, managing director and CEO, Rallis India, said, “I am pleased to share our good performance across business segments despite the erratic south-west monsoon this kharif season. Though classified normal at a deficit of 9.4 percent against long period average, only 68 percent of area received normal rainfall. Cropping acreages were lower by 2 percent over last year. We experienced continuous dry spell in July, followed by cyclone (Cyclone Daye) and deluge in a few states.

“Our close working with farmers through our Rallis Samrudh Krishi® (RSK) providing knowledge, products and information to achieve better value out of crops, delivered robust growth in the domestic space. This despite market challenges, increased raw material prices with pricing pressure and fluctuating commodity prices.

“Our performance in international business was good due to the improving situation in key markets such as Brazil and a strong demand for herbicides.

“I do hope with a normal forecast for the north-east monsoon and improved reservoir water level, we have a better rabi season.”

Rallis Samrudh Krishi® (RSK) intends to create value for farmers through close field-level working, disseminating the right growing practices, products and information. This leads to a better quality crop along with optimised cost and improved yields.

e-interventions – Drishti, Samadhan and Sampark are key enablers in execution. Drishti provides  predictive advisory services — accurate pest forecast (critical pest only, where support is a delight factor). The Samadhan app gives farmers access to customised package of practices, weather forecast, latest update on crop output prices, flash news on agriculture, connect to experts for problem-solving, etc. The Sampark app gives field force access to complete crop practices besides full details of the portfolio of solutions.