Rallis India Ltd

Rallis India Limited reported muted Q2FY27 results, with revenue at ₹858 crore, flat compared to ₹861 crore in Q2FY26, driven by 5% pricing growth offset by 5% volume decline. EBITDA fell 18% to ₹126 crore, and PAT dropped 17% to ₹85 crore. Crop Care revenue grew 4% to ₹788 crore, but Domestic (B2C) revenue declined 1% to ₹556 crore due to 6% volume drop. Soil & Plant Health (SPH) sub-category grew 22% to ₹74 crore. Institutional (B2B) revenue rose 17% to ₹232 crore, with exports growing 2.5% to ₹165 crore. Seeds revenue fell 31% to ₹70 crore due to 26% volume decline. New product launches, including 9 crop care products and 15 seeds, were highlighted. Management noted challenges from deficient rainfall, channel inventory pressures, and competition, but emphasized strategic initiatives like digital marketing, R&D, and new product pipelines. For H1FY27, total revenue grew 3% to ₹1880 crore, with Crop Care up 5% and Seeds down 3%. EBITDA and PAT increased slightly. Management guided toward cautious optimism, focusing on improving product mix, operational efficiency, and capital discipline.

The document presents both challenges and strategic initiatives, reflecting a balanced view of the company's performance and outlook.