Rallis India Q2 Profits soar

Mumbai, October 12, 2007

Q2 2007-08 RESULTS

Rallis India Ltd, a TATA Enterprise announced its financial results for Q2 ended 30th September 2007. The Company recorded highest ever PBT of Rs 120.51 crores which is 184% higher than the corresponding PBT of Q2, last year. PBT from operations at Rs 37.88 crores is more than PBT from operations for the whole year of 2006-07 of Rs 35 crores. During this quarter, the Company has also sold a part of its surplus land at a profit of Rs 87.38 crores (Rs 54.12 crores in Q2 2006-07) which has been included in Other Income of Q2 FY 2007-08. The total revenue of Rs 334.4 crores is 26% higher than the total revenue of Q2 of the last year. The interest charge at Rs 0.97 crores is also its lowest ever in any quarter.

H1 RESULTS

Superlative Q2 performance of Rallis India Ltd has contributed in achieving its highest ever in both Turnover from operations and PBT of Rs 403.45 crores and Rs 122.55 crores in H1 FY 2007-08 respectively. These are substantially higher than the corresponding amounts in H1 of last year by 8% and 220% respectively.

PBT from operations in H1 FY 2007-08 at Rs 39.17 crores is also the highest ever recorded by the company in any quarter.

Commenting on the Company’s performance, Mr V Shankar, CEO and Executive Director, Rallis India said,

“I am happy to report strong operating and financial performance for Q2 and H1 2007-08. We have registered a healthy revenue growth driven by increases in sales volumes of our key products. Sales realizations have improved and our new products APPLAUD and TAQAT in particular, which address farmers’ critical requirements have done very well. Our new initiative DISHA targeted to enhance enterprise value creation and reduce costs has begun to yield results, which reflects in the improvement in operating margins. Rallis is now poised to grow and well positioned to deliver sustained performance.”

Rallis is focusing on growing its international business. During the quarter, it broke new grounds by obtaining registration for one of its key products for sale in the US market. Its international business initiative titled APOLLO is directed at growing this segment aggressively in the short to medium term.

The unaudited financial results for the quarter ended 30 September 2007, are enclosed. They have undergone ‘limited review’ by the auditors.

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