Rallis India
A Tata Enterprise, Rallis India reported a 3% (YoY) drop in its consolidated net profit at Rs.73 crore despite a 28% jump in total income. EBITDA for the quarter was up 7% at Rs.122 crore and EBITDA margins rose from 19.09% to 19.18%. Higher operating costs and then a 10% rise in tax outgo at Rs.34 crore put pressure on the net profit. 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 though later sowing made progress. New product launches during Q2 – Hunk and Origin, also did well. 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% in Q1 and Q2 it has risen further to 15.76%.