Rallis India (RALLIS) — Financial Results

Investor Takeaways

Revenue grew 7% YoY to ₹1,022 crore in Q1 FY27, driven by 19% domestic growth and 7% crop care expansion.

EBITDA rose 23% to ₹184 crore, with crop protection revenue up 18% to ₹455 crore.

Exports declined 28% to ₹110 crore due to European softness and Chinese competition.

Management targets 15%+ EBITDA margins and 6-8% growth in agrochemicals.

Biologicals growth expected to improve significantly amid monsoon uncertainty.

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹1,022 Cr	+7%
Net Profit	Not available	N/A
EBITDA	[amount context mismatch] Cr	+23%
EPS	Not available	N/A
OPM	Not available	N/A

What Changed

Rallis India reported Q1 FY27 revenue of ₹1,022 crore, up 7% YoY, with EBITDA up 23% to ₹184 crore. Exports declined 28% to ₹110 crore, while crop protection revenue grew 18% to ₹455 crore. The company highlighted cautious export recovery, stabilized raw material costs, and strategic shifts toward rice, maize, and millet amid monsoon uncertainty. Management emphasized margin resilience and targeted 15%+ EBITDA margins, supported by volume growth and pricing discipline in crop protection. The filing noted mid-to-high single-digit seed growth (excluding cotton) and anticipated biologicals growth improvement, reflecting a focus on domestic market stability amid export headwinds.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Rallis India	31.28	N/A	N/A	5,128.14
Solar Industries India	132.27	N/A	N/A	1,56,674.48
Pidilite Industries	75.73	N/A	N/A	1,49,378.89
SRF Limited	69.51	N/A	N/A	79,723.46

Rallis India trades at a significantly lower P/E ratio (31.28) compared to peers (Solar Industries: 132.27, Pidilite: 75.73, SRF: 69.51), suggesting potential valuation divergence relative to growth expectations.

Risks & Concerns

Exports declined 28% to ₹110 crore due to European softness and Chinese competition.

Monsoon uncertainty poses demand-side risks to domestic crop growth.

No specific risks identified beyond export headwinds and weather volatility.

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q1FY27	1,022	Not available	Not available
Q4FY22	507.54	-14.15	-0.56
Q3FY22	628.08	39.56	10.73
Q2FY22	727.8	56.45	12.09
Q1FY22	740.51	82.34	16.41

Note: Quarterly trend data for Q1FY27 is provided in the filing; prior quarters reflect historical performance. Current quarter (Q1FY27) shows revenue growth but no profit data available.

Key Takeaways

Revenue growth (7% YoY) and EBITDA expansion (23% YoY) indicate improving operational efficiency.

Strategic focus on domestic crop shifts (rice, maize, millet) and margin resilience aligns with market conditions.

Export decline (28%) and monsoon uncertainty require close monitoring of demand sustainability.

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About Rallis India Limited (RALLIS)

Chemicals · Agro Chemicals · Listed on NSE

Market Cap: ₹4,041.06 Cr P/E: 24.6 ROE: 9.7% ROCE: 12.9% Div Yield: 1.44%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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