Rallis India
A Tata Enterprise, Rallis India posted a good set of numbers for Q1FY15. On a consolidated basis, it reported a 14% (YoY) growth in revenues with net sales touching a new milestone at Rs.465 crores. PBT was at Rs.48 crore, up from Rs.36 crore in previous Q1. EBITDAgrew by 25%to Rs.59 crore and net profit for the quarter was at Rs.37 crore, up 35%. The company is a leading player in crop protection and is thus directly linked with the monsoon. Due to the delayed monsoon, crop sowing was delayed in many parts of the country and this YoY, sowing is lower. The monsoon progress made in July and August , crucial for kharif crops is crucial for the financial health of the company. The company continues to concentrate on non-pesticide portfolio (NPP) and today, it contributes over 30% to the topline.
As per the shareholding pattern as at 30th June 2014, the Tata group, mainly through Tata Chemicals holds 50.09% stake and the ‘big attraction’ on the counter is the fact that Rakesh Jhunjhunwala holds 10.08% stake in the company. FII holding has gone up from 13.75% to 14.96%. Its interest service coverage ratio has doubled up from 18.06 in Fy13 to 32.63 in FY14, indicating a very healthy book.