Agrochemicals maker Rallis India, part of Tata Enterprise, reported Profit After Tax at Rs 9.26 crore during the fourth quarter of FY12, after exceptional item of Rs 17 crore.
"Overall, 2011-12, was a difficult year for plant protection industry with erratic rainfall and difficult agricultural conditions. Adverse rainfall, low productivity, poor crop economy and reduced acreage put pressure on the PAT," Rallis India Managing Director and CEO V Shankar told reporters.
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The revenue of the company during the quarter ending March 31 was Rs 205.73 crore.
The company's PAT stood at Rs 100.69 crore during FY12 and its revenue for the year was Rs 1,245.24 crore.
The company has said that the figures this year are not comparable with corresponding period of the previous year as Metahelix Life Science became its subsidiary in December 2010.
The company also entered into an agreement to acquire majority 51 per cent in Maharashtra-based organic manure and soil conditioners manufacturing company Zero Waste Agro Organics Private Limited (ZWAOPL) for Rs 29 crore in an all cash deal, Shankar said.
Rallis will have exclusive sales and marketing arrangements with ZWAOPL for domestic and international markets.
With this acquisition, Rallis has strengthened its product portfolio with organic manure and soil conditioner products.
"We expect that the revenue from the business will exceed Rs 100 crore in five years. The technology fits well with our strategy and supports sustainable agriculture," he added.
Rallis and ZWAOPL are planning to launch GeoGreen, a carbon rich organic soil conditioner that will help restore soil health.
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