Excel Crop Care up 8% in Q3
Indian agrochemical company Excel Crop Care (Mumbai) was able to stem the decline suffered in the first two quarters of its current fiscal year by recording an 8.4% rise in revenues to Rs 1,669.8 million ($32.7 million at the current rate) in its third quarter ended December 31st 2011. The company was forced to suspend production and sales of the insecticide/acaricide, endosulfan, by an Indian Supreme Court ruling in May ( Agrow No 616, p 23). The active ingredient normally accounted for a third of sales and the loss of the endosulfan business is adversely impacting performance, the company says. After a Court order in September allowing the export of existing stock of the active ingredient ( Agrow No 626, p 23), Excel was able to export 737 tonnes, worth Rs 203.2 million ($4 million), in its third quarter.