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| Rallis eyeing Rs 400-500 cr revenue from Dahej plant |
| Press Trust of India / Mumbai Apr 16, 2009, 15:11 IST |
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Tata group company Rallis India has said its multi-purpose manufacturing plant at Dahej will become operational in April-May 2010 and is expected to generate Rs 400-500 crore revenue over 3-4 years thereafter.
The agrochemicals maker will inject Rs 200 crore in phase one of the project, which is due to be completed by April-May next year.
"For our Dahej project, we got clearances from the Ministry of Environment in February, sooner than expected. Over a 3-4 year period, we expect it to generate revenues of at least Rs 400-500 crore," Rallis India Ltd Managing Director V Shankar told reporters here last night.
"We are investing heavily to drive our international business... The Dahej plant is a part of that. A portion of funds will come from internal accruals, but we haven't yet firmed up plans for the rest," Shankar said.
Rallis, which caters to the farming community in 40 countries, had its global business contribute 32 per cent to its revenues in FY 2009.
"We have secured long-term contracts from our key customers with a revenue potential of over Rs 1,000 crore in the next five years," Shankar said.
With significant presence in the US, Brazil and South-East Asia, the company is looking to expand its branded business and is open to inorganic growth, he added.
The BSE-listed firm, which declared annual results for FY09 yesterday, saw a drop in its consolidated net profit at Rs 72.02 crore from Rs 125.3 crore in the year-ago period.
"Our last year's profits include benefit of proceeds from sale of land, which was Rs 87.38 crore. So, in a way the net profits are not comparable," Shankar said.
The company has, however, modified arrangements to set up a plant in Jammu and is looking to tie up with a suitable player for the same.
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