Agrochemicals company Rallis India announced Q3FY23 results:

• Q3FY23:
  • The Company recorded revenues of Rs 630 crore for the quarter ending December 31, 2022, an increase of 0.3% over PY of Rs 628 crore.
  • Profit before tax (before exceptional items) was at Rs 30 crore as compared to PY of profit before tax (before exceptional items) of Rs 53 crore and the Profit after tax (after exceptional items) was Rs 23 crore, as compared to PY profit after tax (after exceptional item) of Rs 40 crore.
• FY23:
  • The Company recorded revenues of Rs 2,444 crore for the period ended December 31, 2022, an increase of 17% over PY of Rs 2,096 crore.
  • Profit before tax (before exceptional items) was at Rs 216 crore as compared to PY of profit before tax (before exceptional items) of Rs 239 crore and the Profit after tax (after exceptional items) was Rs 161 crore, as compared to PY profit after tax (after exceptional item) of Rs 178 crore.

Announcing the results, Mr. Sanjiv Lal, Managing Director, and CEO, Rallis India said, “Our Q3 revenues witnessed 0.3% growth over last year. This has been in the backdrop of erratic rainfall in the Domestic market and headwinds in International business. During the quarter, our domestic Crop Protection business grew by 7.7%, Crop Nutrition business by 22%. Exports declined by 6.5%, primarily due to inventory build-up at the customer end. Our seeds business revenue was Rs 24 Cr vs Rs 28 cr Q3 PY.

For the ongoing Rabi, we remain positive due to increasing crop acreages and robust commodity prices.

Our long-term focus continues to be investing in growth through new product introduction, expanding our retail footprint, and investing in flexible Multipurpose manufacturing plants for our new product pipeline. We are also consistently prioritizing Technology & Digital Transformation projects in our Operations viz. Manufacturing, Customer engagement, and Supply chain” he added.

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