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Rallis India Limited
(RALLIS)
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Rating:63Neutral
Price Target:
₹217.00
▼(-0.87% Downside)
Action:Reiterated
Date:10/23/26
The score is primarily supported by strong balance-sheet stability and improving (but volatile) cash generation, which help offset cyclical earnings variability and gross margin pressure. Technicals are a headwind given the stock’s position below key moving averages and negative MACD. Valuation is fair rather than compelling, and the latest earnings call indicates an uneven near-term demand/margin backdrop despite management’s expectation of a better next season.
Positive Factors
Conservative balance sheet
Very low leverage and steadily growing equity provide resilience through cyclical agricultural demand and pricing pressure. This financial flexibility can support ongoing operations, selective investment and cash preservation without relying heavily on additional borrowing.
Negative Factors
Gross margin compression
The sharp gross-margin decline shows that pricing, product mix and input-cost pressures are reducing the profitability of sales even as EBIT and net margins improved. Persistent margin compression could limit earnings conversion and weaken the benefit of future revenue growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and steadily growing equity provide resilience through cyclical agricultural demand and pricing pressure. This financial flexibility can support ongoing operations, selective investment and cash preservation without relying heavily on additional borrowing.
Read all positive factors
Rallis India Limited (RALLIS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹35.75B
Dividend Yield1.63%
Average Volume (3M)20.06K
Price to Earnings (P/E)18.1
Beta (1Y)1.45
Revenue Growth6.82%
EPS Growth11.93%
CountryIN
Employees1,540
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)10.11
Shares Outstanding194,468,900
10 Day Avg. Volume21,987
30 Day Avg. Volume20,062
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)2.08
Price to Sales (P/S)1.47
P/FCF Ratio33.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)10.89
Revenue Forecast (FY)₹30.76B
Rallis India Limited Business Overview & Revenue Model
Company Description
Rallis India Ltd. operates as a manufacturer and marketer of farm-related products, primarily serving India but also with an international presence. Its comprehensive product line includes crop protection solutions like insecticides, herbicides, f...
How the Company Makes Money
Rallis primarily makes money by selling agri-input products and related services through two main revenue streams: (1) Crop Care (crop protection and allied agri-inputs) and (2) Seeds. In Crop Care, revenue is generated from the sale of branded an...
Rallis India Limited Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Jan 20, 2027
Earnings Call Sentiment Neutral
The call presented a mixed outlook. H1 performance was resilient, with revenue, EBITDA and PAT growth, strong soil and plant health and B2B performance, new product contributions, digital expansion and a planned R&D center. However, Q2 profitability declined materially, seeds and crop protection volumes were weak, inventory remained elevated, and the business continued to face deficient rainfall, water stress, pricing pressure, excess supply, export challenges and supply chain disruption. Management expressed confidence in product launches, market share retention, cash generation and a better next season, but the positive and negative factors were broadly balanced.Positive Updates
H1 Revenue and Profit Growth
H1 FY2027 revenue increased 3% to INR 1,880 crore from INR 1,818 crore. H1 EBITDA rose 2% to INR 311 crore from INR 304 crore, while H1 profit after tax increased 6% to INR 210 crore from INR 197 crore.
Negative Updates
Weak Q2 Profitability
Q2 FY2027 revenue was broadly flat at INR 858 crore versus INR 861 crore. Pricing growth of 5% was offset by similar volume de-growth. EBITDA declined 18% to INR 126 crore from INR 154 crore, and PAT declined 17% to INR 85 crore from INR 102 crore.
Read all updates
Q2-2027 Updates
Positive
Negative
H1 Revenue and Profit Growth
H1 FY2027 revenue increased 3% to INR 1,880 crore from INR 1,818 crore. H1 EBITDA rose 2% to INR 311 crore from INR 304 crore, while H1 profit after tax increased 6% to INR 210 crore from INR 197 crore.
Read all positive updates
Company Guidance
Management said domestic demand recovery is likely to remain uneven, while the rabi outlook remains sensitive to winter rainfall, soil moisture, and irrigation availability; IMD’s northeast monsoon forecast is 80%-112% of the long-term period average, reservoirs held approximately 70% of capacity versus a 10-year average of 76%, and rabi MSP increases for 2027, 2028 range from 0.97% for wheat to 10.3% for safflower and mustard, rising 6.6% and lentil 5.5%. The next season is expected to be significantly better than what we are just concluding, with a normal season expected to return next year with elevated commodity prices; seed inventory is expected to be carried forward at 150% of the requirement in crops like maize, rice, bajra and all, although some crops might have more than 150% and production will slow down. Capacity utilization is expected to remain broadly stable, with growth driven by improved product mix, operational efficiencies, and higher-value product offerings; the new R&D center is likely to be commissioned by April 2027, H2 CapEx will be more than H1, full-year CapEx should be little bit more than INR 50 crore, and the company expects to moderate purchase and continue to generate free cash flow by the end of the year.Rallis India Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
82
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 29.59B | 28.97B | 26.63B | 26.33B | 29.67B | 25.91B |
| Gross Profit | 8.90B | 7.70B | 5.71B | 10.45B | 10.01B | 9.61B |
| EBITDA | 3.71B | 3.64B | 3.19B | 3.28B | 2.33B | 3.03B |
| Net Income | 1.97B | 1.84B | 1.25B | 1.48B | 920.00M | 1.64B |
Balance Sheet | ||||||
| Total Assets | 34.30B | 33.45B | 29.74B | 30.03B | 27.98B | 28.58B |
| Cash, Cash Equivalents and Short-Term Investments | 2.11B | 5.44B | 4.37B | 2.74B | 2.71B | 2.73B |
| Total Debt | 990.00M | 610.00M | 630.00M | 1.34B | 1.37B | 927.42M |
| Total Liabilities | 12.38B | 13.02B | 10.70B | 11.74B | 10.68B | 11.61B |
| Stockholders Equity | 21.92B | 20.43B | 19.04B | 18.29B | 17.30B | 16.97B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.26B | 2.21B | 1.87B | 289.20M | -192.01M |
| Operating Cash Flow | 0.00 | 1.67B | 2.95B | 2.69B | 2.17B | 1.66B |
| Investing Cash Flow | 0.00 | -950.00M | -2.14B | -1.02B | -1.42B | -1.04B |
| Financing Cash Flow | 0.00 | -610.00M | -800.00M | -1.84B | -410.50M | -614.43M |
Rallis India Limited Technical Analysis
Negative
218.90
Price Trends
203.16
Negative
213.75
Negative
234.11
Negative
Market Momentum
-3.18
Positive
30.67
Neutral
14.49
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RALLIS, the sentiment is Negative. The current price of 218.9 is above the 20-day moving average (MA) of 198.45, above the 50-day MA of 203.16, and below the 200-day MA of 234.11, indicating a bearish trend. The MACD of -3.18 indicates Positive momentum. The RSI at 30.67 is Neutral, neither overbought nor oversold. The STOCH value of 14.49 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RALLIS.
Rallis India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹59.96B | 9.58 | ― | 2.26% | 18.52% | 49.11% | |
68 Neutral | ₹146.65B | 19.99 | ― | 4.60% | -2.78% | 23.56% | |
67 Neutral | ₹43.75B | 16.48 | ― | 0.20% | -5.63% | -11.38% | |
63 Neutral | ₹35.75B | 18.14 | ― | 1.63% | 6.82% | 11.93% | |
58 Neutral | ₹434.20B | 21.45 | ― | 1.17% | 12.86% | 72.26% | |
56 Neutral | ₹316.94B | 27.34 | ― | 0.71% | -16.57% | -27.71% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:RALLIS
Rallis India Limited
183.85
-71.43
-27.98%
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IN:SHARDACROP
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IN:UPL
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-27.89%
Rallis India Limited Corporate Events
Rallis India Plans Investor Meetings in Singapore Under SEBI Norms
Oct 19, 2026
Rallis India Limited has announced a schedule of one-on-one meetings with analysts and institutional investors in Singapore from October 26 to October 29, 2026. The meetings will involve firms including Oxbow Capital, Invisage Capital, Eastspring ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.