Rallis India Ltd
Rallis India Ltd
ChemicalsKey Fundamentals
MicrocapPesticides & AgrochemicalsChemicalsInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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51 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
2- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 34.5%
Weaknesses
2- The company has delivered a poor sales growth of 3.58% over past five years.
- Company has a low return on equity of 8.41% over last 3 years.
Growth Rate
AI Analysis — Bull vs Bear
Rallis India Ltd is a nearly debt-free agrochemicals company with a market cap of ₹4,220 Cr trading at a P/E of 19.7x. While TTM profit growth of 33% signals a recovery, the stock has declined 42% over the past year and compounded sales growth over 5 years remains modest at 4%.
- Company is almost debt-free, providing financial flexibility and low interest cost burden
- TTM compounded profit growth of 33% indicates a sharp earnings recovery in recent quarters
- Healthy dividend payout ratio of 34.5% with a current dividend yield of 1.38%, rewarding shareholders consistently
- ROE improved to 10% in the last year from a 3-year average of 8%, suggesting improving capital efficiency
- P/B ratio of 2.07x is reasonable for a debt-free chemicals company backed by the Tata Group
- 10-year compounded sales CAGR of 8% demonstrates long-term revenue scalability in the agrochemicals space
- TTM sales growth of 4% shows a turnaround from the negative 3-year sales CAGR of -1%
- Stock price has declined 42% over the past 1 year, reflecting significant investor pessimism and capital erosion
- 5-year compounded sales growth of only 4% (3.58% per known data) indicates persistent top-line weakness
- 3-year average ROE of just 8% is below the cost of equity for most investors, indicating weak value creation
- 5-year compounded profit CAGR is -2%, showing earnings have actually contracted over a medium-term horizon
- 10-year stock CAGR of 0% means the stock has generated zero capital appreciation over a decade
- 5-year stock CAGR of -8% indicates sustained underperformance and wealth destruction for medium-term holders
- 10-year compounded profit CAGR of only 5% lags the broader market earnings growth and inflation
- P/E of 19.7x may appear elevated given the weak long-term growth and low ROE profile
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Q1 net profit jumps 32% Jul 20
Rallis India reported Q1FY26 net profit of ₹125 crore, up 32% YoY, with revenue from operations rising 6.8% to ₹1,022 crore driven by higher revenue and lower expenses.
- New statutory auditor appointed Jul 27
S R B C & CO LLP appointed as statutory auditors for five years, replacing B S R & Co. LLP after the 2027 AGM, subject to shareholder approval.
- Two independent directors exit Jul 22
Two independent directors ceased to hold office on July 22, 2026 after completing their second consecutive term.
- Investor meeting with Whiteoak Capital Jul 21
Rallis India scheduled a one-on-one meeting with Whiteoak Capital on July 24, 2026 in Singapore. No UPSI to be shared.
- ESG score of 72.3 assigned Jul 9
SES ESG Research assigned Rallis India an ESG score of 72.3 for FY 2025-26 based on public domain data.
- Q1 FY27 earnings call scheduled Jul 9
Analyst and investor meeting hosted on July 21, 2026 to discuss unaudited Q1 FY27 financial results with senior management.
TL;DR: Rallis India delivered a strong Q1 with 32% profit growth and nearly 7% revenue expansion, signaling healthy operational momentum. No material headwinds emerged in recent newsflow. Governance changes (auditor rotation, director exits) are routine. The trend is improving, and sustained volume growth in the chemicals segment will be key to watch in coming quarters.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 782 | 832 | 598 | 436 | 783 | 928 | 522 | 430 | 957 | 861 | 623 | 456 | 1,022 |
| Expenses | 672 | 699 | 536 | 430 | 687 | 762 | 478 | 450 | 807 | 707 | 565 | 457 | 837 |
| Operating Profit | 110 | 133 | 62 | 6 | 96 | 166 | 44 | -20 | 150 | 154 | 58 | -1 | 185 |
| OPM % | 14% | 16% | 10% | 1.4% | 12% | 18% | 8% | -4.7% | 16% | 18% | 9% | -0.2% | 18% |
| Other Income | 3 | 6 | 2 | 6 | 5 | 10 | 6 | 12 | 12 | 16 | -26 | 14 | 15 |
| Interest | 3 | 3 | 4 | 8 | 5 | 3 | 2 | 2 | 4 | 3 | 2 | 1 | 2 |
| Depreciation | 25 | 26 | 30 | 33 | 31 | 30 | 29 | 30 | 29 | 30 | 29 | 29 | 30 |
| PBT | 85 | 110 | 30 | -29 | 65 | 143 | 19 | -40 | 129 | 137 | 1 | -17 | 168 |
| Tax % | 26% | 25% | 20% | -28% | 26% | 31% | 42% | -20% | 26% | 26% | -100% | -12% | 26% |
| Net Profit | 63 | 82 | 24 | -21 | 48 | 98 | 11 | -32 | 95 | 102 | 2 | -15 | 125 |
| EPS in Rs | 3.24 | 4.22 | 1.23 | -1.08 | 2.47 | 5.04 | 0.57 | -1.65 | 4.89 | 5.25 | 0.1 | -0.77 | 6.43 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,493 | 1,288 | 1,386 | 1,498 | 1,984 | 2,252 | 2,429 | 2,604 | 2,967 | 2,648 | 2,663 | 2,897 | 2,962 |
| Expenses | 1,237 | 1,079 | 1,148 | 1,270 | 1,741 | 1,987 | 2,104 | 2,323 | 2,746 | 2,335 | 2,375 | 2,534 | 2,566 |
| Operating Profit | 255 | 209 | 238 | 228 | 243 | 265 | 325 | 281 | 221 | 313 | 288 | 362 | 396 |
| OPM % | 17% | 16% | 17% | 15% | 12% | 12% | 13% | 11% | 7% | 12% | 11% | 13% | 13% |
| Other Income | 2 | 5 | 168 | 9 | 30 | 46 | 49 | 22 | 13 | 16 | 33 | 16 | 19 |
| Interest | 7 | 10 | 4 | 6 | 8 | 10 | 7 | 7 | 14 | 19 | 14 | 11 | 8 |
| Depreciation | 45 | 38 | 42 | 41 | 46 | 62 | 64 | 74 | 91 | 114 | 120 | 117 | 118 |
| PBT | 206 | 165 | 359 | 191 | 219 | 239 | 304 | 222 | 128 | 196 | 187 | 250 | 289 |
| Tax % | 29% | 24% | 26% | 26% | 29% | 22% | 25% | 26% | 28% | 24% | 33% | 27% | — |
| Net Profit | 145 | 126 | 266 | 141 | 154 | 185 | 229 | 164 | 92 | 148 | 125 | 184 | 214 |
| EPS in Rs | 7.48 | 6.49 | 13.68 | 7.28 | 7.93 | 9.54 | 11.76 | 8.45 | 4.73 | 7.6 | 6.43 | 9.46 | 11.01 |
| Div. Payout % | 33% | 39% | 27% | 34% | 32% | 26% | 26% | 36% | 53% | 33% | 39% | 32% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| Reserves | 779 | 899 | 1,106 | 1,159 | 1,266 | 1,391 | 1,572 | 1,677 | 1,711 | 1,810 | 1,885 | 2,024 |
| Borrowings | 75 | 36 | 22 | 21 | 73 | 94 | 76 | 93 | 137 | 134 | 63 | 61 |
| Other Liabilities | 359 | 356 | 404 | 533 | 801 | 944 | 920 | 1,069 | 931 | 1,040 | 1,007 | 1,241 |
| Total Liabilities | 1,232 | 1,310 | 1,551 | 1,733 | 2,159 | 2,447 | 2,587 | 2,858 | 2,798 | 3,003 | 2,974 | 3,345 |
| Fixed Assets | 373 | 342 | 350 | 351 | 581 | 593 | 631 | 771 | 758 | 1,008 | 904 | 849 |
| CWIP | 14 | 24 | 23 | 25 | 51 | 76 | 164 | 130 | 237 | 62 | 52 | 32 |
| Investments | 232 | 305 | 534 | 390 | 109 | 302 | 283 | 212 | 223 | 251 | 412 | 505 |
| Other Assets | 614 | 639 | 644 | 968 | 1,419 | 1,476 | 1,508 | 1,745 | 1,581 | 1,683 | 1,607 | 1,958 |
| Total Assets | 1,232 | 1,310 | 1,551 | 1,733 | 2,159 | 2,447 | 2,587 | 2,858 | 2,798 | 3,003 | 2,974 | 3,345 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 64 | 218 | 353 | -5 | 79 | 338 | 216 | 166 | 217 | 269 | 295 | 172 |
| Investing | -42 | -134 | -275 | 95 | -51 | -246 | -162 | -103 | -142 | -102 | -214 | -95 |
| Financing | -24 | -52 | -74 | -92 | -52 | -74 | -67 | -61 | -41 | -184 | -80 | -66 |
| Net Cash Flow | -2 | 32 | 3 | -1 | -23 | 18 | -13 | 1 | 34 | -18 | 1 | 11 |
| Free Cash Flow | 34 | 161 | 302 | -54 | 33 | 272 | 58 | -15 | 31 | 188 | 224 | 143 |
| CFO/OP | 49 | 121 | 181 | 24 | 62 | 149 | 89 | 83 | 121 | 105 | 121 | 66 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 50 | 52 | 59 | 89 | 82 | 73 | 61 | 63 | 61 | 80 | 74 | 78 |
| Inventory Days | 114 | 128 | 121 | 170 | 224 | 193 | 200 | 227 | 158 | 199 | 185 | 217 |
| Days Payable | 85 | 95 | 113 | 167 | 178 | 176 | 156 | 182 | 117 | 148 | 134 | 164 |
| Cash Conversion Cycle | 80 | 85 | 68 | 92 | 129 | 90 | 105 | 107 | 102 | 131 | 126 | 130 |
| Working Capital Days | 36 | 50 | 51 | 93 | 82 | 50 | 61 | 62 | 48 | 67 | 63 | 68 |
| ROCE % | 26% | 19% | 20% | 17% | 18% | 17% | 19% | 14% | 8% | 11% | 10% | 14% |
Documents
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Company Information
Rallis India, a Tata Group company Group Co., has a history of over 150 years. The company is into manufacturing of Agrochemicals and is present across the value chain of agriculture inputs - from seeds to organic plant growth nutrients. Rallis is also in the business of contract manufacturing for global corporations. [1]