Organic Growth… Literally
Nutan Gupta / 17 Jan 2014
Farm input major, Rallis India has put up quite a good performance for the quarter and nine month period ended December 2013. With agriculture expected to do well going forward too, this company looks all set to exploit the advantages to follow.
Rallis India, a TATA Enterprise and a leading player in the Indian crop protection industry announced its financial results for the quarter and nine months ended 31 December, 2013 reporting a consolidated net profit of Rs 30 crore.
The company's profit grew 38% to Rs 30 crore in Q3FY14 as compared to Rs 22 crore in the corresponding quarter of the previous year. Net profit rose on account of higher sales which increased by 17% to Rs 396 crore in the current quarter as against Rs 340 crore in the corresponding quarter. Operating profit for the current quarter went up by 18% to Rs 46 crore as compared to Rs 39 crore in previous year.
For the 9-months ended December 2013, its net sales registered a growth of 21% to reach Rs 1402 crore as compared to Rs 1161 crore in the corresponding period last year. The net profit (after minority interest) came in at Rs 133 crore as compared to Rs 108 crore during the same period last year, showing a growth of 23%. The operating profit increased by 26% to Rs 205 crore, against Rs 163 crore it had earned during the corresponding period last year.
Commenting on the performance, V Shankar, Managing Director and CEO, Rallis India said, "I am pleased that we have reached new highs in this quarter both in revenues and profits. While the domestic business stood its ground with strengthening relationship through the farmer programmes, international business grew well due to robust demand of the key products. Our continued focus on connecting with farmers through Rallis Kisan Kutumba initiatives, strong brands and value creating initiatives in agri space led to robust revenue growth and exceeding the full year profit of previous year by 11% in nine months."
Shankar further added that, "there were shifts in farmer preferences for crops and Rallis, with the help of a strong understanding of the field level changes, moved with agility to cater to the changing needs. Our new products in the Plant Growth Promoter segment did well and our key brands recorded good growth." Now that is what we call market connect.
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