Excel Crop Care sales declined 6% in Q1 FY 2016-17

Net sales of Excel Crop Care declined 6.37% to Rs 268.02 crore in the quarter ended June 30, 2016 as against Rs 286.26 crore during the previous quarter ended June 2015. Net profit rose 16.54% to Rs 36.78 crore in the quarter as against Rs 31.56 crore the same period of last year. 

 

On June 5, 2016, the Promoter Group of the Company has executed a share purchase agreement with Sumitomo Chemical Company. Under the said agreement, Sumitomo Chemical will acquire the entire promoter shareholding, aggregating to 24.72% of the total paid up share capital and also 20.26% shareholding of certain public shareholders viz Ratnabali Group. The share acquisition will be at the price of Rs 1259.36 per share and is subject to and conditional upon satisfaction of certain conditions and regulatory approval.