Rallis India rallies on good FY 2008 results

Rallis India galloped 9.68% to Rs 448 at 10:40 IST on BSE after the company reported 115.40% spurt in net profit in the year ended March 2008 over March 2007

Shares of the Tata group agrochemicals company hit a high of Rs 475 and low of Rs 424 so far during the day

The stock had hit a 52-week high of Rs 675 on 3 January 2008 and 52-week low of Rs 258.20 on 23 August 2007.

The company’s current equity is Rs 11.98 crore. Face value per share is Rs 10.

The current price of Rs 448 discounts Q3 December 2007 annualised EPS of Rs 46.81 by a PE multiple of 9.57.

Rallis India reported 115.40% surge in net profit to Rs 125.19 crore on 7.60% rise in net sales to Rs 692.15 crore in the year ended March 2008 (FY 2008) over the year ended March 2007 (FY 2007).

However, the company reported 14.60% fall in net profit to Rs 7.87 crore on 10% rise in net sales to Rs 144.33 crore in Q4 March 2008 over Q4 March 2007.

Rallis India is engaged in manufacturing and distribution of pesticides, fertilisers and fine chemicals.