Revenue from operations rose marginally to Rs 630.39 crore in quarter ended 31 December 2022 from Rs 628.08 crore recorded in Q3 FY22.

Profit before tax stood at Rs 29.97 crore in Q3 FY23 as compared to Rs 53.06 crore reported in the corresponding quarter previous year, registering a decline of 43.5% year on year.

EBITDA slipped 21% to Rs 53 crore in Q3 FY23 from Rs 67 crore posted in Q3 FY22. The decline in the EBITDA was mainly due to higher marketing spends and provision taken for retrospective rent demand by MbPA.

Sanjiv Lal, managing director and CEO of Rallis Indi, said, “Our Q3 revenues witnessed 0.3% growth over last year. This has been in the backdrop of erratic rainfall in the Domestic market and headwinds in International business. During the quarter, our domestic Crop Protection business grew by 7.7%, Crop Nutrition business by 22%. Exports declined by 6.5%, primarily due to inventory build-up at the customer end. Our seeds business revenue was Rs 24 crore vs Rs 28 crore Q3 PY. For the ongoing Rabi, we remain positive due to increasing crop acreages and robust commodity prices.”

“Our long-term focus continues to be investing in growth through new product introduction, expanding our retail footprint, and investing in flexible Multipurpose manufacturing plants for our new product pipeline. We are also consistently prioritizing Technology & Digital Transformation projects in our Operations viz. Manufacturing, Customer engagement, and Supply chain.” he added.

Rallis India is a subsidiary of Tata Chemicals and a part of the US$ 100+ billion Tata Group. It is one of India's leading Agro Sciences Companies, with the most comprehensive portfolio of products/solutions for Indian farmers. It has marketing alliances with several multinational agrochemical companies.