MUMBAI, 23 April 2021: Rallis India Limited, a TATA Enterprise and a leading player in the Indian crop protection industry announced its financial results for the quarter and year ended 31 March, 2021.
Announcing the results, Sanjiv Lal, Managing Director and CEO, Rallis India said, “The favourable agricultural activities in the last quarter were supportive of our domestic crop care business which grew by 14% and seeds business by 7%. Exports were robust during the quarter. The ongoing harvest season is expected to support a continued growth in agricultural production aided by normal monsoon forecast. We will continue to keep a close watch on the second wave of COVID-19 to ensure we can sail through the hard times. While positioning ourselves to meet the market requirements, we are also consistently prioritising the safety and well-being of all our employees and other stakeholders”
Consolidated Key Highlights – fourth quarter (Q4)
The Company recorded consolidated revenues of INR 471 Crs for the quarter ended 31 March, 2021, a growth of 36 percent over PY of INR 346 Crs. Profit before tax (before exceptional items) was at INR 10 Crs, as compared to PY loss of INR 14 Crs and the profit after tax (after exceptional items) was INR 8 Crs, as compared to PY of INR 1 Crs.
Consolidated Key Highlights – 12 months
The Company recorded consolidated revenues of INR 2429 Crs for the quarter ended 31 March, 2021, a growth of 8 percent over PY of INR 2252 Crs. Profit before tax (before exceptional items) was at INR 294 Crs, with a growth of 30 percent over PY of INR 226 Crs and the profit after tax (after exceptional items) was INR 229 Crs, registering a growth of 24 percent over PY of INR 184 Crs.
Key Developments – Q4
● Continued priority on the safety and health of employees amidst the second wave of COVID-19
● Focus on shipping, logistics, procurement and supply of raw materials
● New product launch: 9(3) formulation product Eevee launched as an insecticide & fungicide combination for vegetables
Key Developments – 12M
● Focus remained on the safety and health of employees
● Successfully launched four new products in crop care, six in crop nutrition and four in seeds segments
● New Brand Architecture rollout underway: Total 26 Products launched
● With strong collections, maintained optimum cash flow throughout the year
● Accelerated digital initiatives from product trials to employee and farmer engagements