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Analyst Meet / AGM
25-Apr-14
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Analyst Meet
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Rallis India
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Barring uncertain rain and El Nino effect, management expects better FY'15
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The company held its Analyst Meet on 23rd April'14 which was addressed by Mr. Veeramani Shankar Managing Director & CEO
Key highlights
- During FY'14, area sown under rabi season has increased from 1565 lakh acres last year to 1663 lakh acres. While area sown has increased across all the major crops, weather disturbances have led to some crop damages.
- Herbicides demand was led by increased usage of post emergent herbicide. Paddy witnessed high weed emergence. Soyabean and Sugarcane herbicides also performed well this year. Growth in Insecticides was witnessed due to sucking pests in paddy and cotton.
- In FY'14, in domestic market, the volume growth stood at around 6% and there were some price hikes as well.
- In FY'14, company's Top 5 brands constitute about 40% of total sales while top 10 constitute about 60-65% of total sales.
- The company will launch 2 new innovative products during FY'15. These 2 specialty molecules are one for herbicide namely Duton and the other one will be a combination of fungicide and insecticide namely Origin.
- Management has indicated that the performance of Metahelix and Zero Waste Agro are on expected lines. For FY2014, Metahelix reported revenue of Rs 150 crore, but reported loss at EBIDTA level. Management is confident of turnaround in FY'15.
- Management has given a guidance of a cumulative 5 year sale of Rs 100 crore from Zero Waste Agro and Rs 1000 crore from Metahelix business. Management continues to remain optimistic about its guidance. This may include some inorganic acquisitions as well.
- Exports business achieved turnover of about Rs 500 crore in FY'14 (up from about Rs 410 crore in FY'13) and constitute about 33% of total consolidated sales. Management continues to remain optimistic about exports in FY'15 as well.
- On Dahej facility, management is confident of good business in FY'15 unlike in FY'14. It's in process of securing few international contracts for exports on contract manufacturing basis.
- For FY'15, uncertain rains and El Nino effect will be a challenge. Uncertain rains already visible in some parts of Madhya Pradesh, Punjab and Haryana and in Maharashtra may lead to destruction of crops. While MSP and productivity will lead to better pricing for farmers and thus higher spending, better clarity on rainfall and El Nino will emerge in July'14.
- Overall, management continues to be optimistic about FY'15, if monsoon continues to do well and there are no major set backs from El Nino effect.
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