Rallis India Posts Healthy Q1FY14 Numbers

Rallis India (RIL), a Tata Enterprise, posted a healthy Q1FY14 result on a consolidated basis against the corresponding period in FY13. Its net sales jumped by 20%, reached to Rs 409 crore in the first quarter of fiscal 2014. On a sequential basis too, its sales showed growth of 47%, against Rs 279 crore in the March ended quarter of FY13. The other operating income declined on both YoY and sequential basis.

Its operating expenses as a percentage of revenue in Q1FY14 have remained almost same as in the last corresponding period. The total expenses stood at Rs 357 crore in the first quarter of FY14 as compared to Rs 303 crore in Q1FY13.

Further, the company’s EBITDA boosted by 40% because of higher sales, to stand at Rs 52.6 crore during the said period. Interestingly, the EBITDA margin also grew by 181 basis points on a YoY basis to 12.86%.

Moreover, the decline in finance cost (due to decline in borrowings) and tax expenses has led to growth in its bottomline. The company, in the June 2013 quarter, showed growth of 13.74% to Rs 27.6 crore in bottomline on a YoY basis. However, the net margin declined by 37 basis points to 6.72% in this period, due to an increase in minority interests from Rs 2.9 crore in Q1FY13 to Rs 5.8 crore in Q1FY14.