MUMBAI, 21 July, 2021: Rallis India Limited, a TATA Enterprise and a leading player in the Indian Agri inputs industry announced that it has recorded an increase in consolidated revenue of over 11.7 percent at INR 741 crore for the first quarter ended 30 June 2021.
Announcing the results, Rallis India managing director and CEO Sanjiv Lal 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."
"In spite of these challenges, the Company has registered a 31.2 percent revenue growth for the domestic crop care segment and a 3.1 percent increase in revenue from our seeds business in Q1. Going forward, we will continue to focus on leveraging opportunities by making investments in new product introduction, manufacturing, R&D and automation,”Lal added.
Consolidated Key Highlights – Q1
The Company recorded consolidated revenues of INR 741 crs for the quarter ended 30 June 2021, a growth of 11.7 percent over PY of INR 663 crs. Profit before tax (before exceptional items) was at INR 109 crs, lower by 9.2 percent over PY of INR 120 crs and the profit after tax was INR 82 crs, lower by 10.4 percent over PY of INR 92 crs.
Standalone Key Highlights – Q1
Rallis recorded standalone revenues of ₹741 crs for the quarter ended 30 June 2021, a growth of 11.7% over PY of ₹ 663 crs. Profit before tax (before exceptional items) was at ₹109 crs, lower by 9.1% over PY of ₹120 crs and the profit after tax was ₹82 crs, lower by 10.3 % over PY of ₹92 crs.
Key Developments during – Q1
- High focus on safety amidst the second wave of COVID-19
- Vaccination drive conducted for operating team members; over 86 percent of our permanent staff and 48 percent of our contract staff vaccinated with at least 1 dose
- Successful launch of 3 new crop protection products, 1 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
