Commenting on the performance and developments Mr. Shankar MD and CEO of Rallis India said "We have witnessed tough conditions during the quarter with severe water stress environment in most areas. I am pleased that while we have nevertheless held ground in domestic, there has been upside on the international side delivering the revenue growth. Our continued focus on quality of operations have not only held on to the margins but also significantly improved our working capital situation. With emphasis on cash we are now to a zero debt status.

Our suite of solutions has enabled us to help farmers in multiple crops and notably in fruits and vegetables which has grown. The recent set of products such as Origin and Hunk has received encouraging response from farmers. Our performance in seeds for paddy, millets and vegetables has also been satisfying. During the quarter we have taken up the balance stake in Metahelix with the holding going up to 100% now. We continue on our farmer relationship endeavor Rallis Kisan Kutumba to help farmers with good agronomy practices to drive up productivity. We have initiated some ICT initiatives to serve farmer needs better which will be scaled up this year. The forecast for normal monsoon augurs well for coming Kharif season. "

The Board of Directors have declared a dividend of Rs 2.5 per share of Rs 1 each for FY 2015-16.

Consolidated performance for 12 months ended March 2016

For the 12 months ended Mar'16, consolidated net sales were down by 11% to Rs 1627.87 crore. OPM was lower by 110 bps to 14.1%, further reducing OP by 17% to Rs 230.17 crore. Other income was up by 228% to Rs 13.66 crore. Interest costs were up by 34% to Rs 13.55 crore and depreciation was lower by 10% to Rs 44.59 crore. Thus, PBT stood at Rs 185.69 crore, down by 16% YoY. After providing total tax of Rs 38.96 crore, PAT stood at Rs 146.73 crore. After providing MI of Rs 3.70 crore, consolidated PAT for 12 months ended Mar'16 stood at Rs 143.03 crore, down by 9% YoY