Conference Call with Rallis India Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.
Highlights: The Company recorded consolidated revenues of Rs 1468 Cr for the period ended 30 September, 2021, a growth of 6% over PY of Rs 1388 Cr. Profit before tax (before exceptional items) was at Rs 186 Cr, with a decline of 19% over PY of Rs 228 Cr and the profit after tax (after exceptional items) was Rs 139 Cr, registering a decline of 21% over PY of Rs 175 Cr. The Company recorded consolidated revenues of Rs 728 Cr for the quarter ended 30 September, 2021, a modest growth of 0.4% over PY of Rs 725 Cr. Profit before tax (before exceptional items) was at Rs 76 Cr, with a decline of 29% over PY of Rs 108 Cr and the profit after tax (after exceptional items) was Rs 56 Cr, registering a decline of 32% over PY of Rs 83 Cr. Announcing the results, Mr. Sanjiv Lal, Managing Director and CEO, Rallis India said, “The erratic monsoon season this year was not favourable to agri input companies in the last quarter. In this backdrop, our domestic crop care business grew by 3%, but the seeds business declined by 65%. The drop in the seeds business was due to the changes in cropping patterns witnessed across the country as well as the proliferation of spurious cotton seeds. The overall good cumulative rainfall witnessed in Kharif also augurs well for the upcoming Rabi agricultural season. Meanwhile, the Company's efforts towards dealing with logistic issues helped in exports delivering growth of 22% during the quarter. The raw material situation continues to be tough and we are focussed on minimising the disruptions to our production as much as possible. On a longer term basis, our capex plans, new product introduction plans and demand generation investments remain on course as we do believe that normalcy will be restored progressively. While positioning ourselves so, we are also consistently prioritising the safety and well-being of all our employees and other stakeholders.” Result PDF