Rallis India rose 2.64% to Rs 223.30 at 11:42 IST on BSE after consolidated net profit surged 35% to Rs 37 crore on 14% growth in net sales to Rs 465 crore in Q1 June 2014 over Q1 June 2013.
The Q1 result was announced after market hours on Thursday, 17 July 2014.
Meanwhile, the S&P BSE Sensex was down 28.84 points or 0.11% at 25,532.32.
On BSE, so far 1.25 lakh shares were traded in the counter as against average daily volume of 1.11 lakh shares in the past one quarter.
The stock hit a high of Rs 226 and a low of Rs 221.35 so far during the day. The stock hit a record high of Rs 232.35 on 25 June 2014. The stock hit a 52-week low of Rs 130.40 on 7 August 2013.
The stock had outperformed the market over the past one month till 17 July 2014, advancing 8.23% compared with the Sensex's 0.16% rise. The scrip had also outperformed the market in past one quarter, jumping 30.23% as against Sensex's 12.96% rise.
The mid-cap company has equity capital of Rs 19.44 crore. Face value per share is Re 1.
Rallis India's consolidated EBITDA rose 25% to Rs 59 crore in Q1 June 2014 over Q1 June 2013.
Commenting on the company's performance and developments, Mr. V Shankar, MD & CEO, Rallis India said, "The onset of the monsoon was delayed and thereafter did not progress well leading to rainfall deficiencies in most parts of the country. As a result, the crop sowings are trailing severely in comparison to the field activity same time last year. We have adopted a cautious approach aligned to these market conditions and are closely monitoring the progress in the field. During the quarter, we have launched two products with novel offering for the farmers. One of these is a combination introduced for the first time in India. Under challenging conditions our seeds business has performed well too. The international business portfolio has also contributed well".
Rallis India said it continues to make its investments in strengthening its market reach and farmer connect through its flagship programme Rallis Kisan Kutumba.
The progress of the monsoon in July and August will be an important determinant on how the overall kharif seacon shapes up, Rallis India said in a statement.
Rallis India is known for its manufacturing capabilities in crop protection chemicals and various types of chemistries with ability to develop new processes and formulations supported by the capacity to register new products.
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