AgroPages-Meghmani agchem sales up 7% in Q1 2015-Agricultural news

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Indian company Meghmani’s agchem sales rose by6.5% to Rs 967.7 million in the first quarter of fiscal 2015, ended on June 30 2014.

Export sales of Agchem decreased marginally by 5.0% on account of decrease in quantity sales of 2,4- dichlorophenoxy, CPP and cypermethrin. However, domestic sales of agchem increased by 57.1%. due to increase quantities sales of MPB, CMAC and permethrin.

The gross profit of agchem increased by 213.1 % and margin increased from 5.3% in Q1 FY 2014 to 15.6% in Q1 FY 2015 due to higher quantity sales and price realization of Acephate, CMAC and CPP.

Outlook

The erratic monsoon season might have impact on the sales and profitability of Agchem in 2Q FY 2015. To date, 111 exports registrations have been received and applications for 628 registrations have been made in different parts of the world. The Company has 185 registration of Central Insecticides Board (CIB), and 26 Trade Mark Registrations.