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Rallis Q1 profit seen up 27%, seed biz may boost growth.


Date: 23-07-2015
Subject: Rallis Q1 profit seen up 27%, seed biz may boost growth
​Rallis India's first quarter is expected to be strong with the seed business revenue boosting growth and pushing margin higher, believe analysts.

Consolidated net profit is seen rising 27 percent year-on-year to Rs 47 crore and revenue may increase 16.8 percent to Rs 547 crore in the quarter ended June, according to the average of estimates of analysts polled by CNBC-TV18.

Operating profit may surge 25.6 percent to Rs 73 crore and margin may expand 90 basis points year-on-year to 13.3 percent in the quarter gone by.
The growth in quarter is expected to be boosted by Metahelix’s performance as Metahelix, a subsidiary which is into seeds and contract research business, may continue doing well with 25 percent Y-o-Y growth in Q1.

Analysts see 10-12 percent growth in agro-chemical business and 25 percent growth in seed business. They said growth may also be higher because of a softer base in the year-ago period.

About 60 percent of revenue comes from standalone business and 40 percent from Metahelix. Analysts feel this ratio is likely to change given Metahelix’s recent exponential growth.
Concerns

They said competitve intensity may have created pressure on Rallis India and export challenges in Europe and Latin America are still evident. The growth in standalone business at 12 percent is not as robust and domestic & international revenue may see similar growth, they added.

Key factors to watch out for would be margin expansion, plans on Dahej facility (to build on CRAM business), monsoons & reciprocating impact on performance in Q2 and outlook on new product launches & progress in seeds.

Source moneycontrol.com

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