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Rallis India share rises over 3% on strong Q4 earnings

BusinessToday.In     April 23, 2021

Rallis India share rose over 3% today after the firm reported net profit of Rs 8.12 crore in the March quarter. Share of Rallis India has gained 9.66% in the last 5 days. The stock touched an intraday high of Rs 291, rising 3.25% on BSE.

Rallis India share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

In a year, the share has gained 38% and risen 0.61% since the beginning of this year.

Market cap of the firm rose to Rs 5,496 crore on BSE.

The subsidiary of Tata Chemicals reported a consolidated profit after tax (after exceptional items) of Rs 8.12 crore in Q4 against consolidated PAT of Rs 68 lakh during the corresponding period of 2019-20. Consolidated revenue from operations in Q4 grew to Rs 471.26 crore compared to Rs 355.79 crore in the year ago period.

Rallis India's consolidated PAT during 2020-21 grew by 24 per cent to Rs 228.58 crore as compared to Rs 183.69 crore in the previous fiscal. Consolidated revenue rose 8 per cent to Rs 2,429.44 crore against Rs 2,251.82 crore in FY20.

"The favourable agricultural activities in the last quarter were supportive of our domestic crop care business, which grew by 14 per cent and seeds business by 7 per cent. Exports were robust during the quarter. The ongoing harvest season is expected to support a continued growth in agricultural production aided by normal monsoon forecast," Rallis India Managing Director and CEO Sanjiv Lal said.

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