Capitaline

Analyst Meet / AGM 23-Oct-19

Conference Call

Rallis India

Plans to introduce 11-12 new products over the next few years in domestic market

Rallis India held a conference call to discuss the results for the quarter ended September 2019 and way forward. Mr. Sanjiv Lal- Managing Director & CEO, of the company addressed the call.
Highlights of the Concall

Q2FY20 sales growth was 14.5% out of which 10.7 % through volume and 3.8% is through price. Domestic business grew by 6% out of which 4% is through volume and 2% is through price. For H1FY20 H1 sales growth was 12% out of which volume is 9%

EBITDA margin for the quarter declined owing to higher input prices as a result of ongoing disruption in China. Further, higher competitive intensity, in select products both in India and internationally exerted pressure on the margins & profitability

Metahelix saw a revenue growth of 51% in Q1FY20 led by strong performance largely driven by Paddy & Millet while for H1FY20 it was 9.5% largely due to price/mix. Positive impact includes effect of channel mix due to Seed business consolidation (Chiefly in Cotton and Paddy) for H1FY20.

Rallis India introduced 4 products during the quarter in Crop Protection and is on track to launch 1 additional products during the fiscal. It plans to introduce 11-12 new products over the next few years in domestic market.

The company has commissioned and started production of expanded 500 tonne per annum (tpa) Metribuzin capacity, while another 500 tpa will be commissioned by December 2020. Post this expansion, Rallis will have 2000 tpa of Metribuzin capacity.

Revenue from the expanded Metribuzin capacity should start reflecting from next financial year

Rallis India is experiencing oversupply in Pendimethalin, as a result it expect some softness in the market.

Cash generated from Operations improved to Rs 216 crore at consolidated level from Rs 46 crore in previous year

Working capital saw an improvement in the form of inventory days which improved from 104 days to 85 days

Setting up of Dahej chemical plant is on track and production is expected to commence in FY21.

The company expects capex of Rs 200 crore in FY20

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