Rallis India Ltd Share Price – NSE  /  BSE

Agro Chemicals, Small Cap

Revenue declined by 14% YoY to Rs 436 crore in the fourth quarter. The Crop Care segment revenue fell by 18% to Rs 410 crore in Q4 FY24 over Q4FY23, as its performance was primarily impacted by weak exports demand. The revenue of the Seeds segment stood at Rs 26 crore as against Rs 25 crore in Q4 FY 23.

The company’s EBITDA for Q4 FY24 was Rs 6 crore. The firm had recorded a negative EBITDA of Rs 66 crore in Q4 FY23.

Rallis said that the margins had improved through dynamic pricing, superior product mix and optimizing overhead costs in both Crop care and Seeds businesses. The base EBIDTA was also impacted by Rs 83 crore for provision for slow moving inventory and impairment of intangible in seeds.

For FY24, the company recorded revenue and net profit of Rs 2,648 crore (down 11% YoY) and Rs 148 crore (up 61% YoY), respectively.

Low Prices and weak global demand impact revenue growth. Profitability improved through pricing and cost management,” the company said in a statement.

Dr Gyanendra Shukla, managing director & CEO, Rallis India, said: “Positive low single digit volume growth in our Domestic Formulation business. Seeds revenue grew 21% and delivered break-even profit. This was driven by the superior performance of our Cotton hybrids viz. Diggaz and Aatish Express. Our Innovation turnover index has also improved to 16% in FY24.

Exports business declined by 35% and the market continues to be under pressure due to Geo political unrest and continuing de-stocking.

On a long-term basis, we remain focused on improving our market position through superior product offerings to solve farmer needs. We will continue our investment behind marketing, manufacturing, and digitization capabilities to build differentiation.

Rallis India is a subsidiary of Tata Chemicals Limited and a part of the US$ 150 billion Tata Group. It is one of the leading players in the domestic crop protection sector and manufactures pesticides, herbicides, and fungicides at its factories in multiple locations. The company’s product portfolio of seeds and crop care solutions is available across India. It has marketing alliances with several multinational agrochemical companies and is also considered as a preferred partner for contract manufacturing by leading global corporations.

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Rallis India announced that the Board of Directors of the Company at its meeting held on 22 April 2024, inter alia, have recommended the final dividend of Rs 2.5 per equity Share (i.e. 250%) , subject to the approval of the shareholders.

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Net Loss of Rallis India reported to Rs 21.00 crore in the quarter ended March 2024 as against net loss of Rs 69.00 crore during the previous quarter ended March 2023. Sales declined 16.63% to Rs 436.00 crore in the quarter ended March 2024 as against Rs 523.00 crore during the previous quarter ended March 2023.

For the full year,net profit rose 60.87% to Rs 148.00 crore in the year ended March 2024 as against Rs 92.00 crore during the previous year ended March 2023. Sales declined 10.75% to Rs 2648.00 crore in the year ended March 2024 as against Rs 2967.00 crore during the previous year ended March 2023.

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Rallis India announced that the Board of Directors of the Company at its meeting held on 22 April 2024, has recommended a Final dividend of Rs.2.50 per share (i.e.250%), subject to the approval of the shareholders.

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