Shares of Rallis India skyrocketed 14 percent on October 16 as investors rejoiced in the company's well-rounded performance in the July-September period. The firm delivered growth on all three key parameters of profit, revenue, and profitability in Q2.
At 09.33 am, shares of Rallis India were trading at Rs 367.05 on the NSE, inching closer to its record high of Rs 373.20. The strong Q2 earnings show also lifted trading volumes in the counter. About 32 lakh shares already changed hands so far, significantly higher than the one-month daily traded average of three lakh shares.
The company's net profit for the quarter rose 20 percent on year to Rs 98 crore, up from Rs 82 crore in the year-ago period. Revenue also charted a similar trajectory and grew 11.5 percent to Rs 928 crore in Q2 as against Rs 832 in the same quarter last fiscal.
Gyanendra Shukla, Managing Director & CEO, of Rallis India stated that the growth in Q2 was driven by strong domestic demand with above-normal monsoon, better commodity prices, and volume recovery in the international market even as pricing continued to be muted.
"Domestic crop care delivered volume led revenue growth of 11 percent with prices impacting
overall realization. Seeds revenue was up by 48 percent due to better Kharif liquidation. International business had volume recovery though prices continue to be a challenge," Shukla further added.
Along with strong topline and bottom-line growth, the EBITDA margin also expanded to 17.9 percent in Q2 from 16 percent in the corresponding quarter of the previous fiscal.
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