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Board recommends dividend of ₹ 2.5 per equity share
Bengaluru, 23 Apr 2024: Rallis India Limited, a TATA Enterprise and a leading player in the Indian Agri inputs industry announced its financial results for the fourth quarter of the financial year ending March 2024.
Key Highlights: FY24
Announcing the results, Dr Gyanendra Shukla, Managing Director & CEO, Rallis India Limited, said,
“FY24 PAT is ₹ 148 Cr compared to Rs 92 Cr for FY 23. Company reported FY 24 revenue at ₹ 2648 Cr, lower by 11% over the previous year in the backdrop of continuing challenges in the exports demand and low agro-chemical prices. Positive low single digit volume growth in our Domestic Formulation business. Seeds revenue grew 21% and delivered break-even profit. This was driven by the superior performance of our Cotton hybrids viz. Diggaz and Aatish Express. Our Innovation turnover index has also improved to 16% in FY24.
Exports business declined by 35% and the market continues to be under pressure due to Geo-political unrest and continuing de-stocking.
On a long-term basis, we remain focused on improving our market position through superior product offerings to solve farmer needs. We will continue our investment behind marketing, manufacturing, and digitization capabilities to build differentiation.”
Key Developments
· Company has begun the work on new “Rallis Science and Technology Centre (RSTC)” to augment innovation capabilities
· Continued its focus on refreshing its Domestic crop care portfolio and launched 3 new products in Crop nutrition portfolio in Q4FY24
· Rallis was conferred with Significant adoption award for best in class by Tata Affirmative Action Programme (TAAP)
· Rallis has been honored with the Award of Merit at 1st edition of the CII National Awards for Artificial Intelligence (AI) 2023 for its AI based crop weather monitoring platform ‘Drishti’
· Rallis is recognized as “Kincentric Best Employer” 2023 as one of India`s top 16 companies.
