- 24 Apr 2025
- ICICIdirect Research
RALLIS INDIA REVENUES DE-GREW TO RS 430 CRORE
RALLIS - 259 Change: 17.64 (7.30 %)News: Revenues de-grew 1.4% YoY to ₹ 430 crore, impacted by a decline in both crop care and seed business. The crop care business (94% of revenues) de-grew 1.2% YoY to ₹405 crore primarily due to pricing pressure in the B2C market (price drop of 5%), and the Seeds business (6% of revenues) de-grew 4% YoY basis to ₹ 30 crore. The company reported an EBITDA loss of ₹20 crore during the quarter, primarily due to weakness in the domestic crop care market and elevated overheads.
View: Overall performance was muted despite- 1) better exports performance ( up 6%), 2) 24% growth in herbicides, 3) 23% growth in soil and plant health. The pricing pressure was reflected in poor GPM (~40%). The recent managerial induction and new launches are yet to reflect on the performances which continue to remain volatile. We wait for management commentary on earnings.
Impact: Negative