OREANDA-NEWS. July 21, 2011. Rallis India (Rallis), a Tata enterprise and a leading player in the Indian crop protection industry, today, announced its financial results for the quarter ended June 30, 2011. The quarter’s results include the results of its newly-acquired subsidiary, Metahelix Life Sciences (Metahelix). Hence, the results achieved in Q1 this year are not comparable to the results of the previous year.

Consolidated Q1 performance:

Net consolidated sales from operations has been Rs291.6 crore.

Net profit (before minority interest) for the period has been Rs27.7 crore.

Net profit after minority interest has been Rs23.1 crore.

Commenting on the company’s consolidated performance for the first quarter, V Shankar, managing director and chief executive officer, Rallis, said, “I am happy to report robust performance in all our business segments including crop protection and seeds. The crop protection business recorded healthy growth in both revenues and profits. The consolidated results, which include Metahelix, also reflect similar achievements."

Commenting on the business aspects, Mr Shankar added, “The satisfactory progress of the monsoon in July enabled the sowings and crop acreages to improve in cotton, groundnut, pulses, etc. The performance of the domestic business was enhanced by successful launches of new products by the company, both in crop protection and in seeds. The international business recorded improved performance reflecting positive global trends. The new facility in Dahej was successfully commissioned during the quarter."

The businesses of the company and its major subsidiary Metahelix are both seasonal in nature and their performance can be impacted by weather conditions and cropping patterns. The first-quarter performance may not be generally representative for the rest of the year.

Rallis is known for its manufacturing capabilities in crop protection chemicals and various types of chemistries, with the ability to develop new processes and formulations supported by the capability to register new products. It has contract manufacturing alliances with several multinational agrochemical companies. Rallis also strengthened its seeds business by acquiring the majority stake in Metahelix in December 2010.

Rallis is one of India’s leading agrochemicals companies, with a century-old tradition of servicing rural markets and a comprehensive portfolio of pesticides 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.

During FY2010-11, the company had posted consolidated net profit of Rs126 crore and revenues of Rs1,066 crore.