Rallis India Offers VRS To Cut Cost

Mumbai, Sept 17: | Updated: Sep 18 2003, 05:30am hrs
Tata group company Rallis India Ltd, which is reeling under losses, has offered voluntary retirement scheme (VRS) to around 150 staff management and non-management as part of the companys strategy to bring down the cost.

Company sources said, The company is looking at various means of reducing its operating cost. As part of the companys effort towards streamlining the manpower, it has offered an employee separation scheme (ESS) to both managerial and non-managerial staff. Around 68 staff from the managerial cadre have opted for ESS. Furthermore, VRS has been offered to 60 non-managerial staff in Mumbai and 20 in

Kolkata. Even though the total cost incurred on account of VRS could not be ascertained, sources indicated that the total outgo for VRS to non-managerial staff was above Rs 5 crore. At present, the total staff strength of the company is around 1,760 people.

For its speciality fertilisers business, Rallis India also plans to rationalise its product portfolio with focus on high margin products which will be promoted through campaigns in high value crops in Maharashtra, Karnataka and Andhra Pradesh.

Almost 60 to 70 per cent of the speciality fertilisers are sold in this market. Further, from being a seeds distributor of Monsantos brands, the focus is being shifted to becoming a sourcing and branding company with focussed R&D.