Rallis doubles dividend to 80 per cent for FY 2006-07: significant increase in Q4

Mumbai, April 2007:

Q4 FY 2006-07
Rallis India reported 11.4 per cent increase in sales and a 219 per cent increase in PAT for quarter ending March 31, 2007, compared to last year’s corresponding period. The board of directors also recommended a dividend of 80 per cent for the financial year.

The continuing success of newly introduced products Applaud and Taqat during this quarter ensured an improved product mix. The overall margin increased from 45 per cent last year to over 50 per cent during the current quarter.

Sales of Applaud — a novel insect growth regulator used to control the dread Brown Plant Hopper in rice — reached a level of over Rs37 crore during this first year of its launch.

Whole year FY 2006-07
Although the crop protection industry saw a decline of sales, Rallis increased sales.
EBITDA for the year was 39 per cent higher at Rs96.9 crore compared to Rs69.7 crore last year.
PAT at Rs58.11 crore is 37 per cent higher than the previous year.

Growth
The company is poised to expand its operations abroad and also to introduce new products which will meet the changing pest problems in India.

The company also reported receiving the coveted 5 star rating from the British Safety Council for its factories in Lote, Turbhe and Ankleshwar.

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