Rallis India Limited., an Indian agrochemicals manufacturer announced its results for the second quarter ended Sept 30, 2022.
Q2 Results- QoQ
The company’s net profit grew 5.3% to Rs 710.5 million for the period ended Sept 30, 2022 as against net profit of Rs 674.7 million for the previous quarter.
Net sales increased 9.9% to Rs 9.53 billion during the period ended Sept 30, 2022 as compared to Rs 8.66 billion during the previous quarter.
Q2 Results- YoY
The company reported 25.9% growth in net profit of Rs 710.5 million for the period ended Sept 30, 2022 as against net profit of Rs 564.4 million for the prior-year quarter.
Net sales increased 29.6% to Rs 9.53 billion during the period ended Sept 30, 2022 as compared to Rs 7.35 billion during the prior-year quarter.
H1 Results- YoY
The company reported 0.2% decline in net profit to Rs 1.385 billion for the period ended Sept 30, 2022 as against net profit of Rs 1.388 billion for the prior-year 1st half period.
Net sales increased 22.7% to Rs 18.2 billion during the period ended Sept 30, 2022 as compared to Rs 14.82 billion during the the 6 Months period last year.
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”
The company’s MPP (Massively Parallel Processing) project at Dahej SEZ is progressing with some delays and is expected to be commissioned during this financial year.
Rallis India Limited is a TATA Enterprise and a leading player in the Indian Agri inputs industry engaged in the manufacture and sale of crop protection and nutrion chemicals, animal nutrition and household pest control products.