Meghmani up 10% in third quarter
Indian company Meghmani Organics (Ahmedabad) recorded a 10% increase in agrochemical revenues to Rs 1,014.5 million ($16.5 million at the current rate) in its third quarter ended December 31st 2014. Domestic sales accounted for just over a quarter (27.6%) of total sales and provided the main boost, rising 18.9% to Rs 280.5 million ($4.6 million). Exports were up 6.9% to Rs 734 million ($11.9 million). Gross profit rose by 23.8% to Rs 179.2 million ($2.9 million). Increased sales prices of the insecticides, chlorpyrifos and zeta-cypermethrin, and the intermediate, cypermethric acid chloride (CMAC), led to the gross profit margin going up by two percentage points to 17.7%.