Meghmani’s Q2 revenues down 27%
Indian company Meghmani Organics’ (Ahmedabad) agrochemical sales dropped by 26.7% to Rs 1,010.1 million ($19.8 million at the current rate) in its second quarter ended September 30th 2011. Domestic sales were the main contributor to the downturn as they went down by 46.4% to Rs 414.6 million ($8.1 million). There was a slight dip of 1.4% in exports to Rs 595.5 million ($11.7 million). Gross profit was down by 39.4% to Rs 146 million ($2.9 million). Pressure on pricing resulted in the gross profit margin dipping from 17.5% to 14.5%.