Agri sector results preview for Mar FY12: P Lilladher

Prabhudas Lilladher has come with its quarterly earning estimates on agri products & chemicals sector for March 2012. In India, fertilizer sales volume has shown growth of mere 0.3% YoY on account of 3.5% YoY decline in non-urea fertilizers volume during Apr11-Feb12. Non-urea (manufactured) fertilizers, excluding Single super phosphate (SSP), de-grew by 8.7% YoY and the imported/traded non-urea fertilizers dropped by 5.6% YoY during the sameperiod.

On the other hand, urea sales volume, which has partially offset the decline of non-urea fertilisers, grew by 4.1% YoY during Apr11-Feb12 v/s 7.1% during FY11. SSP has shown tremendous growth of 37.1% YoY during Apr11-Feb12.

In India, we believe that agri inputs players could show sustainable steady growth on the back of government