Rallis India buy 51 pc stake in Zero Waste Agro Organics

Rallis India to buy 51 pc stake in Zero Waste Agro Organics

7:19 AM, 25th April 2012
Rallis India to buy 51 pc stake in Zero Waste Agro Organics

MUMBAI, INDIA: Rallis India Ltd has agreed to purchase 51 per cent stake in Zero Waste Agro Organics Pvt Ltd (ZWAOPL), a Maharashtra-based organic manure and soil conditioners producing firm. This acquisition will support Rallis to boost its product portfolio with help of organic manure, soil conditioner products and exclusive sales and marketing arrangements with ZWAOPL for the local and global markets.

Zero Waste Agro Organics has three manufacturing facilities in Maharashtra and one in Uttar Pradesh. Rallis India, an arm of Tata Chemicals, is involved in production of agrochemicals. It produces products in each of the agrochemical segments – pesticides, herbicides, and fungicides. Rallis India’s profit has halved during the March quarter. The net profit stood at Rs 9.88 crore ($1.88 million) as compared to Rs 18.81 crore ($3.57 million) posted in the same period last year. Sales also slipped 13 per cent to Rs 206 crore ($39.14 million).

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