Rallis India is a big gainer on the bourses today morning, hitting an intra day high of Rs.224.90, not very far away from its 52-week high of Rs.239.70. Volumes have jumped up over 5.5 times.

The market is thrilled to bits with the company’s Q1FY17 performance with consolidated net profit jumping up over four times to Rs.174 crore from Rs.42 crore in previous Q1. This superlative jump in bottomline was on a mere 7% rise in total income at Rs.468 crore. Apart from keeping a tight leash on its operating costs, coming at 85% of total income v/s 89% (YoY), helped mainly by lower raw material prices, its EBITDA jumped up 26% at Rs.75 crore and margins also showed a smart spurt from 13.6% to 16.1%.

Apart from operational efficiency helping the performance, an exceptional income of Rs.158 crore, which was a profit earned on account of assigning leasehold rights to a plot of land in Mumbai to Ikea. Profit before adding this exceptional income was at Rs.62 crore, up 38% which is also pretty good.

Its wholly owned subsidiary Meiohelix Life Science also did well with revenues rising by 15% to Rs.200 crore and profit coming in at Rs.47 crore v/s Rs.36 crore, driven by higher volumes and belter operating efficiencies.

With kharif season sowing picking up, it is expected that in Q2 the company will reap a much richer harvest, even without any exceptional gain.