Rallis India, a TATA Enterprise and a leading player in the Indian Agri inputs industry, announced its financial results for the quarter ended 30 June 2021.
Announcing the results, Sanjiv Lal, managing director and chief executive officer, Rallis India, said, “India has witnessed an erratic monsoon this year, but with its revival, we can expect the agricultural activities to pick up the pace. Q1 witnessed the second wave of Covid-19 that impacted our business to some extent and we continued to navigate our business with the principal focus firmly being on employee safety. Despite these challenges, the company has registered a 31.2% revenue growth for the domestic crop care segment and a 3.1% increase in revenue from our seeds business in Q1. In the future, we will continue to focus on leveraging opportunities by making investments in new product introduction, manufacturing, R&D and automation.”
Consolidated Key Highlights – Q1
The company recorded consolidated revenues of Rs 741 crore for the quarter ended 30 June 2021, a growth of 11.7% over PY of Rs 663 crore. Profit before tax (before exceptional items) was at Rs 109 crore, lower by 9.2% over PY of Rs 120 crore and the profit after tax was Rs 82 crore, lower by 10.4% over PY of Rs 92 crore.
Standalone Key Highlights – Q1
Rallis recorded standalone revenues of Rs 741 crore for the quarter ended 30 June 2021, a growth of 11.7% over PY of Rs 663 crore. Profit before tax (before exceptional items) was at Rs 109 crore, lower by 9.1% over PY of Rs 120 crore and the profit after tax was Rs 82 crore, lower by 10.3 % over PY of Rs 92 crore.
Key Developments – Q1
Focus on safety amidst the second wave of Covid-19
Vaccination drive conducted for operating team members; over 86% of our permanent staff and 48% of our contract staff vaccinated with at least one dose
Launch of 3 new crop protection products, one crop nutrition product and 6 in seeds category
Focus continued on supply chain and logistics amid lockdown limitations and high international freight rates
Formulation plant to get commissioned in Q2 FY22
Migration of packaging in line with new brand architecture underway
Rallis India is a subsidiary of Tata Chemicals and a part of over US$ 106 billion Tata Group. It is one of India’s leading Agro Sciences Companies, with more than 160 years of experience in servicing Rural Markets and with the most comprehensive portfolio of products or solutions for Indian farmers. Rallis is known for its deep understanding of Indian Agriculture, sustained contact with farmers, quality agrochemicals, branding and marketing expertise, along its strong product portfolio. Rallis has marketing alliances with several multinational agrochemical companies. Rallis is also known for its manufacturing capabilities and ability to develop new processes and formulations. Hence it is considered a preferred partner for contract manufacturing by leading global corporations.