Q3FY24 Quarterly Result Announced for Rallis India Ltd.
Agrochemicals company Rallis India announced Q3FY24 results: The Company recorded revenue of Rs 598 crore for Q3FY24 vs Rs 630 crore in Q3FY23. Profit after tax (after exceptional items) was at Rs 24 crore vs Rs 22 crore in Q3FY23. Continued its focus on refreshing its Domestic crop care portfolio and launched 3 new products in Crop Care & 4 in Seeds CSM: Commercial dispatches done for one active ingredient and one formulation from our new MPP and Formulation facilities respectively. Rallis will commence the construction of integrated R&D; facility. Rallis is also planning to further expand capacity of “Pendimethalin" Rallis awarded with Silver award by “ICAI Sustainability Reporting Awards FY23” for BRSR reporting Announcing the results, Sanjiv Lal, Managing Director & CEO, Rallis India, said, “During the Quarter, our Domestic business maintained its momentum despite challenging external conditions, recording volume growth of 7%. However, challenges continued on the export front due to steep price drop and weak demand on account of continuing inventory overhang at industry level. Our focus on optimizing working capital and margin improvement continues. We are closely monitoring Global market demand recovery and remain cautious about El Nino conditions. Global agro-chemical demand is still soft and is expected to recover only next financial year. Meanwhile, the company's long-term strategy remains unchanged and is focused on refreshing the product portfolio, widening of market reach, increasing manufacturing capacities, and digitalization in operations”. Result PDF24-01-2024
