This ‘rice’ company, known for its high quality basmati rice, has posted a set of excellent numbers for Q4FY14. The largest exporter of basmati rice in India, for Q4FY14, reported a consolidated net profit of Rs.60 crore, up over 3 times on YoY though sequentially, it was down 15%. Its net sales for the quarter rose 74% (YoY) at Rs.860 crore. Operating costs, led by cost of raw material was up 68% but thanks to the very good export demand, this high price of raw material was offset . Forex gain of Rs.5 crore also helped.  The company ended the fiscal FY14 on a very robust note with net sales jumping 40% at Rs.2910 crore and net profit coming in at Rs.255 crore, up by a whopping 96%.

75% of the company’s exports are to the Middle East and balance 25% is distributed between Europe, Far East and USA.  Shifting of some of its orders from Q3 to Q4 has also helped boost the numbers. The company currently has the largest capacity in the world at 195 tonnes and this is running at 60% capacity. The company’s debt is substantial at around Rs.1300 crore, where interest outgo for FY14 was at Rs.76 crore, down marginally from Rs.77 crore in FY13. As at 31^st March 2014, the company had a reserves of Rs.1009 crore and cash was at Rs.66 crore. The company expects to post a 20% YoY rise in its net sales for FY15.