Other income was down by 39% to Rs 2.76 crore. Interest costs was lower by 55% to Rs 1.17 crore and depreciation was lower by 17% to Rs 10.03 crore. After providing total tax of Rs 5.61 crore and loss of MI of Rs 20 lakh, consolidated PAT for the Mar 18 quarter stood at Rs 19.78 crore, down by 36% YoY.

Commenting on the performance and developments, Mr. V Shankar, Managing Director and CEO, Rallis India said,

"I am pleased to report better market performance over last year driven by volume growth in both Domestic and International Businesses. Northeast monsoon which was forecasted to be normal ended at below 11% departure. Overall the Rabi cropping acreages were down by 1% while paddy and pulses improved wheat acreages were down over last year. Our suite of solutions has enabled us to help farmers in multiple crops and notably in paddy which has registered significant growth.

Rallis Samrudh Krishi ® (RSK) our solution based approach to create value for farmers by enhancing productivity through end -to -end Agri solutions has been scaled up to touch 91akh farmers during the year. We have recorded good improvement in farm yields along with farmer income enhancement driven by improvement in quality and optimization of cost through customized package of practices. Thishas been an important driver for our revenue growth during the quarter despite market challenges, increased raw material prices and pricing pressure.

Our new launches Odis, Cenator and Pulito have registered good growth in 20l7-18 and will be key drivers of growth going forward. The forecast for a normal monsoon augurs well for the coming Kharif season. Our performance in the International business continues to be better than last year due to improving situation in key markets such as Brazil and strong demand for herbicides".

RallisSamrudh Krishi® (RSK) intends to create value to farmers through close field level working disseminating the right growing practices, products and information. This leads to a better quality crop along with optimized cost and delivering improved yields.

The use of e-interventions - DrishtLSamadhan & Sampark will be the key in the execution. Drishti will provide the Predictive advisory services - accurate pest forecast (critical pest only, where support isa delight factor), Samadhan app will give the access to farmers for Customized and dynamic PoP, weather forecast, latest update on crop output prices, flash news on agriculture, can connect with our expert for problem solving etc. Sampark app will give the access to our Crop Advisors on complete PoP besides full details on our basket of products.

Performance for 12 months ended Mar 18

Net sales for 12 months ended Mar 18 stood at Rs 1790.94 crore, up by 8% YoY. OPM was lower by 100 bps to 14.8% resulting in a flat OP of Rs 264.47 crore. Other income was up by 3% to Rs 13.18 crore. Interest cost was lower by 41% to Rs 4.31 crore and depreciation was lower by 3% to Rs 46.31 crore which thus resulted in a 2% increase in PBT before EO to Rs 227.03 crore. There was an EO income of Rs 158.39 crore for 12 months ended Mar 17 relating to profit on sale of land entitlement at Taloja as compared to Nil for 12 months ended Mar 18. Thus PBT after EO was down by 40% to Rs 227.03 crore. After paying total tax of Rs 60.01 crore and MI of Rs 60 lakh, consolidated PAT for the 12 months ended Mar 18 stood at Rs 167.62 crore, down by 44% YoY.