Meghmani Q1 agchems up 12%
Indian company Meghmani Organics (Ahmedabad) recorded a 12.4% rise in agrochemical sales to Rs 1,088.1 million ($16.7 million at the current rate) in its first quarter ended June 30th 2015. The main boost came from domestic sales, which accounted for 28% of revenues and rose by 14.9% to Rs 304.7 million ($4.7 million). The rise came from higher volumes sold of the insecticide, permethrin, and the intermediates, cypermethric acid chloride (CMAC) and meta phenoxy benzaldehyde (MPB). Exports were up 11.5% to Rs 783.4 million ($12 million), despite lower volume sales of the herbicide, 2,4-D and the insecticides, chlorpyrifos and cypermethrin. Gross profit shot up by 67.4% to Rs 252.6 million ($3.9 million) as a result of higher quantity sales and price realisation of 2,4-D, permethrin and cypermethrin.