Rallis India, a Tata Group subsidiary and part of Tata Chemicals, saw its shares dip early on Monday after the company reported on Monday that its losses for the March quarter narrowed to ₹21 crores from ₹69 crores in the same period last year.
Rallis India Q4 Performance: Revenue from operations for the quarter dropped 16.63% to ₹436 crores, down from ₹523 crores in the corresponding quarter of the previous year. For the full fiscal year 2024, however, Rallis India’s net profit increased to ₹148 crores, up from ₹92 crores in fiscal 2023.
The company’s annual revenue fell by 11.82% to ₹2,642 crores in fiscal 2024 from ₹2,967 crores in the previous fiscal year. Gyanendra Shukla, CEO of Rallis India noted that the decline in revenue was due to continued challenges in export demand and lower prices for agrochemicals.
He also explained that the company’s exports business declined by 35% amid geopolitical unrest and ongoing de-stocking.
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Despite these challenges, Shukla emphasized the company's commitment to improving its market position through superior products that meet farmer needs and to continuing investment in marketing, manufacturing, and digitization to create market differentiation.
The company’s board has recommended a dividend of ₹2.50 per share, or 250%, for fiscal 2024, subject to approval by the shareholders at the forthcoming annual general meeting.
Price Action: Rallis India shares were trading 3.2% lower at ₹273.65 on Monday morning after markets opened up for trading.
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