Rallis India Limited (RALLIS)

Chemicals · Fertilizers & Agrochemicals · NSE · Updated 15 July 2026

₹238.29 ↓ 32.53% (1Y)

🎯 Key Takeaways

Rallis India Limited is navigating a structural decline in profitability and revenue momentum, transitioning from a historically profitable agrochemical player to one facing sustained margin compression and earnings volatility. The company remains in a mature but challenged phase, with recent financials showing a sharp reversal from profitability to loss in Q1 FY27, signaling potential operational or market headwinds.
Revenue declined 19.2% QoQ to ₹508 in Q4FY22.
⚠️ Sustained profitability decline with consecutive quarterly losses in recent periods, as evidenced by ₹-14.15 Cr net loss in Q1 FY2

Market Cap

₹5,128

P/E Ratio

31.3

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Rallis India Limited is navigating a structural decline in profitability and revenue momentum, transitioning from a historically profitable agrochemical player to one facing sustained margin compression and earnings volatility. The company remains in a mature but challenged phase, with recent financials showing a sharp reversal from profitability to loss in Q1 FY27, signaling potential operational or market headwinds.

📰 What's Happening

In Q1 FY27, Rallis reported a consolidated loss of ₹-14.15 Cr compared to ₹56.45 Cr profit in the prior quarter and ₹39.56 Cr in the same quarter two years ago, with revenue declining to ₹507.54 Cr from ₹628.08 Cr in Q3FY22. The company scheduled an investor meeting on July 21, 2026, to discuss these results, inviting analyst scrutiny. Additionally, during the June 23, 2026 AGM, shareholders approved the reappointment of Chairman S. Padmanabhan and new independent directors Ms. Rashmi Joshi and Mr. David Francis Crean, reinforcing governance continuity despite earlier director resignations. The resignation of Non-Executive Independent Director Mahesh Girdhar on June 24, 2026, due to professional commitments, further altered board composition across key committees including Audit and ESG.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q1FY21	Q2FY21	Q3FY21	Q4FY21	Q1FY22	Q2FY22	Q3FY22	Q4FY22
Revenue	663	725	570	471	741	728	628	508
Operating Profit	140	131	74	27	129	95	73	5
OPM %	19.4%	16.1%	10.5%	3.8%	16.4%	12.1%	10.7%	-0.6%
Net Profit	92	83	46	8	82	56	40	-14
EPS	₹4.72	₹4.27	₹2.35	₹0.42	₹4.23	₹2.90	₹2.03	₹-0.73

The financial trajectory reveals a clear downward trend: revenue has declined from a peak of ₹741 Cr in Q1 FY22 to ₹507.54 Cr in Q1 FY27, while profitability has eroded from ₹82 Cr net profit and ₹4.23 EPS to a loss of ₹-14.15 Cr. Operating margins have collapsed from 19.4% in Q1 FY21 to -0.6% in Q4FY22, reflecting pricing pressure, input cost volatility, or demand softness — trends management has not explicitly attributed to specific initiatives in the filings. The absence of capex commentary or recovery plans in recent disclosures suggests no visible turnaround strategy has been communicated.

🔮 Management Outlook & What's Next

Management has not provided forward-looking guidance on revenue recovery, margin improvement, or demand trends in the latest filings. The only forward-looking statement pertains to dividend payment on or after June 25, 2026, and access to the annual report via QR code for unregistered shareholders. No commentary on operational outlook, market conditions, or strategic priorities was included in the Q1 FY27 results announcement or AGM materials.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Fertilizers & Agrochemicals

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Fertilizers and Chemicals Travancore Limited	57,117	-630.5	—	—	—
Coromandel International Limited	55,044	33.3	—	—	—
UPL Limited	53,373	-157.3	—	—	—
PI Industries Limited	47,259	27.8	—	—	—
Sumitomo Chemical India Limited	22,898	44.4	—	—	—
Bayer Cropscience Limited	21,796	—	—	—	—
Chambal Fertilizers & Chemicals Limited	18,025	11.1	—	—	—
Paradeep Phosphates Limited	12,506	30.3	—	—	—
Sharda Cropchem Limited	8,742	35.8	—	—	—
Rashtriya Chemicals and Fertilizers Limited	6,876	25.9	—	—	—

🔗 Peer Stock Analyses

FACT COROMANDEL UPL PIIND SUMICHEM

⚠️ Risk Factors

1. Sustained profitability decline with consecutive quarterly losses in recent periods, as evidenced by ₹-14.15 Cr net loss in Q1 FY27. 2. Governance vulnerability due to the resignation of an independent director from key committees (Audit, CSR, ESG) without immediate replacement, potentially affecting oversight quality. 3. Declining revenue trend across multiple quarters, with no disclosed corrective strategy or market recovery assumption in management commentary.

📋 Recent Filings

🧠 Analyst's Read

Rallis India is facing a critical inflection point with eroding financial performance and limited strategic clarity from management. Investors should monitor the upcoming investor meeting for any signs of operational intervention, margin stabilization plans, or updated long-term guidance. Until then, the trajectory remains concerning, and governance changes add uncertainty to board oversight continuity.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-15.

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