Meghmani agchems up 7% in 2010
Indian company Meghmani Organics (Ahmedabad) recorded a 7.2% increase in agrochemical sales to Rs 4,373 million ($96 million at the current rate) in the financial year ended March 31st 2011. Growth was fairly evenly spread across exports and domestic sales. Exports accounted for almost two-thirds of revenues. They rose 7.7% to Rs 2,773 million ($61 million), spurred by higher volume sales. Domestic sales went up by 6.4% to Rs 1,599 million ($35 million). Gross profit, however, dived 28.6% on account of pricing pressures and higher raw material prices. Sales in the previous fiscal year were down by 4.6% ( Agrow No 594, p 5).