Rallis India To Install Manufacturing Units In Jammu & Gujrat

Rallis_IndiaRallis India, a Tata group company has announced that it has planed to setup up a formulation manufacturing unit in Jammu and an agro chemical manufacturing unit at the Special Economic Zone (SEZ) at Dahej in Gujrat.

According to a top official of the company, A total investment of Rs. 200 crore is expected to be made from internal accruals on these projects.

Rallis India is one of India's leading agrochemical companies. It offers the most comprehensive portfolio of pesticides and also markets some seed varieties and specialty fertilizers. It also has marketing alliances with several multinational agrochemical companies, including FMC, Nihon Nihyaku, Dupont, Syngenta, Makhteshim Agan and Bayer.

The company presently has three manufacturing units in Maharashtra and one each in Gujarat and Andhra Pradesh.

Veeramani Shankar, chief executive officer of Rallis India said, “"Apart from agrochemicals and pesticides, we are looking at adjacent areas like specialty chemicals and seeds for growth. We would also like to build our international business, which, at present, constitutes 22% of our portfolio. For some Indian companies, it is up to 45%. If that is taken as a benchmark, we would like to reach that level."

“We are exploring various ways – boosting domestic sales, increasing exports, improving seeds portfolio and venturing into specialty chemicals to get back the leadership position,” he added.

The firm presently holds market cap worth Rs. 549 crore, PE Ratio of 11.49; EPS of 39.85 and BV of 103.27. The firm had showed a net profit of Rs 102 crore for the quarter ended September 2007 as against Rs. 43 crore in same quarter of last year.

The stock closed on Thursday at Rs. 461 on NSE, up by 0.47% compared with previous close of Rs. 459. It touched an intraday high of Rs. 462 and low of Rs. 453.