Rallis India

Rallis India hit a new 52-week low after it announced its Q3FY16 numbers. The company posted a 20% (YoY) drop in its consolidated net profit at Rs.20 crore and this was mainly on account of lower revenues. Topline fell 2% at Rs.306 crore and EBITDA margins were down from 13.1% to 11.5%.

The company stated, “the quarter saw muted farmers sentiments due to reduced Kharif yields and lower prices of key crops. The drop in usage of crop protection solutions has impacted sales of some key Rallis brands for paddy and pulses.” The company said that he looks forward to market picking up in the first half of 2016-17.

Rallis has commissioned a 4.4 MW solar plant at Dahej for captive consumption across its units in Gujarat. This model of wheeling and distribution of green energy for captive consumption is first of its solar power sector in Gujarat.