Rallis India at new high

Rallis India is having a fantastic run on the bourses today on the back of its stellar performance for Q3FY20. The stock rose over 15% to hit a new 52-week high at Rs.222.15; it continues to remain among the top three gainers on the BSE.

The company recorded consolidated revenues of Rs.534 crore for the quarter ended 31 December, 2019, a growth of 28% (YoY). PBT (before exceptional items) was at Rs.48 crore, a growth of 146% and profit after tax was Rs.38 crore, a growth of 177%.

Operating profit was up two times at Rs.56 crore and margins showed a smart jump up from 6.6% to 10.5%. The decrease in the raw material price led to this recovery in the margins.

Its domestic business showed a 35% growth in revenue while international rose 24%.

The company’s 9MFY20 consolidated net profit stands at Rs.183 crore and it has already surpassed entire full year FY19 net profit of Rs.152 crore. With one more quarter to go, clearly Rallis will be ending this fiscal on a high note.