Rallis India result puts shares on fire
Rallis India the flagship company of TATA Enterprise has posted strong results in Q1FY17. Company's reported total income from operation stands at Rs 467.66 crores. EBITDA for Q1FY17 has increased by 33 per cent as compared to Q1FY16 and stands at Rs 75.17 crores. Net profit stands at Rs 174.2 crores and has increased by 4 times as compared to corresponding quarter of the previous fiscal. In Q4FY16, the company has reported a net profit of Rs 32.07 crore.
Owing to the results, the shares on July 25 have surged.
The shares on July 25 have closed at Rs 218.35, gaining almost 4.40 per cent. Shares in the last 6 months have surged over 33 per cent. However, in the last 3 months they have given a return of 14 per cent. Shares' 52-week High/Low stands at Rs 239/142.
In March 2016, the company had entered an agreement with IKEA India to transfer its leasehold right over a land parcel in Mumbai for a consideration of nearly Rs 214 crores. This development has also been one of the reasons for such a good result.
Rallis India, is involved only in agri input business segment. The Company's agri inputs consist of crop protection chemicals, seeds and plant growth nutrients. The business areas of the company include agri business, domestic, institutional business, international business and contracting services.