Rallis India rose 4.44% to Rs 174.10 at 9:33 IST on BSE after consolidated net profit jumped 71.40% to Rs 19.30 crore on 16.35% increase in net total income from operations to Rs 331.46 crore in Q4 March 2014 over Q4 March 2013.
The company announced the results after market hours on Tuesday, 22 April 2014.
Meanwhile, the BSE Sensex was up 101.97 points, or 0.45%, to 22,860.34.
On BSE, so far 1.03 lakh shares were traded in the counter, compared with an average volume of 31,678 shares in the past one quarter.
The stock hit a high of Rs 178.80 and a low of Rs 172.15 so far during the day. The stock hit a record high of Rs 190 on 7 April 2014. The stock hit a 52-week low of Rs 122 on 25 April 2013.
The stock had underperformed the market over the past one month till 22 April 2014, rising 2.49% compared with the Sensex's 4.61% rise. The scrip had also underperformed the market in past one quarter, falling 1.56% as against Sensex's 6.66% rise.
The mid-cap company has an equity capital of Rs 19.44 crore. Face value per share is Re 1.
Rallis India said in a statement that the quarter performance was driven by both increase in volumes as well as value improvements due to price adjustments necessitated by the cost increases through the year. The margin improvement also reflected the gains from operating efficiencies, better cash management, tighter working capital control and lower interest costs. During the quarter the farmer relationship programs such as Rallis Kisan Kutumba, Samrudh Krishi, etc gained momentum and investments were made into both field and development activities.
On a consolidated basis, Rallis India's net profit rose 27.60% to Rs 151.87 crore on 19.78% increase in total income from operations (net) to Rs 1746.56 crore in the year ended March 2014 over the year ended March 2013.
Commenting on the performance, Mr. V Shankar, Managing Director and CEO, Rallis India said, I am pleased that the Company has scaled a new milestone of Rs 1800 crore in gross revenues. While this has been a good monsoon year overall, the rainfall conditions through the agricultural seasons have not been conducive throughout. With intense farmer level activities our key brands have continued to serve well the needs of the farming community driving our relationships forward. The year saw good growth in volumes in both domestic and international businesses, and we also saw value firm-up as the year progressed."
Commenting further on the Non-Pesticides Portfolio (NPP), Mr. Shankar added that Our focus on the new initiatives continued and brought in good progress during the year with the NPP portfolio contributing to over 30% of our revenues. Our customer relationship building activities Rallis Kisan Kutumbo (RKK), Grow More Pulses (MoPU). Samrudh Krishi (SK), etc moved to the next orbit with significant increases in farmer contact and field level productivity improvement programs. Geogreen, the new Organic Manure introduced during the year, has been accepted well by the farmers, who are able to see crop productivity improvement through its usage".
The company said it continued its investments in strengthening its key brands (Mega Brands) and development of new solutions. The Innovation Turnover Index for the year stood at 15%.
Dahej Plant operated at full capacity and contributed well to the Company's growth. Some products have been added and there have been new beginnings in the contract manufacturing space. International Business grew both by volume and value terms contributing to 33% of the company revenues, the company said.
Rallis India is known for its manufacturing capabilities in crop protection chemicals and various types of chemistries with ability to develop new processes and formulations supported by the capacity to register new products. It has contract manufacturing alliances with several multinational agrochemical companies. Rallis is one of lndia's leading agrochemicals companies, with a century old tradition of servicing rural markets and a comprehensive portfolio of crop care solutions for Indian farmers. The Company is known for its deep understanding of Indian agriculture, sustained relationships with farmers, quality agrochemicals, branding and marketing expertise and its strong product portfolio. Rallis is increasingly marking its presence as a holistic agri solutions Company by helping farmers with its technical expertise, range of agri products from seeds to nutrition to protection and agronomy knowledge, to drive agricultural productivity adding value and changing the lives of farmers.
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