Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 29 Sep - Newspaper Advertisement for special window for relodgement of transfer requests of physical shares
Source: Bse
Rallis India Limited (RALLIS)
Micro CapChemicals stocks · Micro cap · NSE
Rallis India Limited empowers farmers with innovative solutions from seed to harvest. Its portfolio includes crop protection (herbicides, insecticides, fungicides), soil & plant health (organic/bio-fertilizers), and seeds (Rice, Bajra, Maize, Cotton & Mustard). The company operates B2C, B2B, and Custom Synthesis Manufacturing segments.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result21 Jul, 01:36 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Chemicals P/E 33.1 (n=45)
Technical timing lens
Trend score and candlestick chart
42NeutralSMA20 -3.2% / mo · MACD + · near 52W low · sector -4.2pp vs Nifty 500 (3M)
Stock trend: 40
Sector RS: 46
Sector 3M: -9.8% vs Nifty 500 -5.6%
Chemicals FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
RALLISD candles · FIT view-20.2%Latest close ₹204.65 on 2026-10-19
Bar
-0.2%
RSI
55
MACD hist
1.10
52W pos
11%
2026-10-19O ₹205.02H ₹205.99L ₹203.17C ₹204.65Vol 3.9L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
RALLISNifty ChemicalsNifty 500
- RALLIS
- -14.7%
- Nifty 500
- -5.6%
- Nifty Chemicals
- -8.5%
- Vs Nifty 500
- -9.1 pp
Chart stats
19 Oct 2026- From 52W high
- -33.0%
- 52W range position
- 10%
- ATR (14)
- 2.2%
- Volume vs 20D
- 0.93x
- Avg traded value
- ₹8.2 Cr
- 20D price channel
- ₹193.4 - ₹206.9
₹305.6
₹193.4 - ₹305.6
₹4.6
Latest completed session
20-session average
16.2% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST38
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good70
Revenue +6.8% · PAT +31.6% YoY
Technical
Neutral42
Price trend and sector-relative-strength timing.
Valuation
Legacy model-194.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence75
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 70/100Rev +7% YoY · PAT +32% YoY · margin expansion · +124% QoQ · operating leverage
Filed 20 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,022 Cr | +6.8% | +124.1% |
| EBITDA | ₹185 Cr | +23.3% | +18600.0% |
| Operating margin | 18.0% | +200 bps | +1820 bps |
| PAT | ₹125 Cr | +31.6% | NDF |
| PAT margin | 12.2% | +230 bps | +1552 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 17.50
- P/B
- 1.95
- EV/EBITDA
- 7.88
- Market Cap
- 3991.00Cr
Profitability
- ROE
- 10.20%
- ROCE
- 14.10%
- ROA
- 6.40%
- Dividend Y
- 1.46%
Growth (CAGR)
- Revenue 5Y
- 4.00%
- EPS 5Y
- -2.00%
- Revenue 3Y
- -1.00%
- EPS 3Y
- 30.00%
Balance Sheet
- Debt/Equity
- 0.03
- Interest Coverage
- 49.50×
- Altman Z
- 3.93
- Book Value
- 105.00
Cash Flow
- FCF Yield
- 1.93%
- FCF Positive Y
- 12/5
- OCF
- 172.00 Cr
- EPS TTM
- 11.01
Shareholding
- Promoter Hold
- 55.08%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 11%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 1,022+124.1% vs prev
Net Profit
₹ CrLatest: 125+933.3% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 55. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~3.3% over last month) — short-term momentum negative.
- RSI(14) at 55 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 31% off 52W high · 6% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
29
RS percentile
Stage 4 Downtrend
1M return
+0.4%
3M return
-14.7%
6M return
-23.1%
1Y return
-21.9%
RS 1D
+1
RS 20D
+14
Sector rank
#14
Industry rank
-
Stage evidence
- Price is 10.5% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -3.2%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
weakening
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 68.41+0.90%
RS vs Nifty 50068
Valuation & peers
U-Score 38 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 38 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation7/30
Growth4/25
Quality4/20
Balance Sheet12/15
Cash Flow5/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
38
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
38/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 12/15 to the score.
- Cash flow contributes 5/10 to the score.
Main drags
- Fair-value margin of safety is negative at -194.6%.
- Growth is weaker at 4/25; verify the latest quarterly trend.
- Quality is weaker at 4/20; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
17.5
PB
1.9
EV/EBITDA
7.9
ROE
10.2%
ROCE
14.1%
FCF Yield
1.9%
Debt/Equity
0.0
MoS
-194.6%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
38
Previous: 38
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-194.6%
Previous: -194.6%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
33
33
33
33
33
41
41
41
38
38
38
38
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹161.28
-26.9% MoS
Growth-justified P/E
6.3
Growth-justified Value
₹69.47
-194.6% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Chemicals — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
DHANUKA
Small
Dhanuka Agritech Limited
Agrochemicals
match 149
76
13.9
22.0%
+67%
DEEP VALUE
BHAGCHEM
Small
Bhagiradha Chemicals & Industries Limited
Agrochemicals
match 148
16
108.0
2.6%
-1678%
OVERVALUED
UPL
Mid
UPL Limited
Agrochemicals
match 148
32
22.6
5.6%
-478%
WATCHLIST
BAYERCROP
Large
Bayer Cropscience Limited
Agrochemicals
match 147
26
327.0
15.8%
-5483%
OVERVALUED
GSPCROP
Small
GSP Crop Science Limited
Agrochemicals
match 147
46
20.3
16.5%
+1%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-07-21T00:41:05.401Z
Management commentary snapshot
Rallis India reported a 7% YoY revenue growth to Rs. 1,022 Cr in Q1 FY27, driven by strong domestic formulation placement. EBITDA grew 23% YoY to Rs. 184 Cr, and PAT increased 31% YoY to Rs. 125 Cr, despite a tough operating environment.
The company delivered resilient Q1 FY27 results with strong EBITDA and PAT growth, primarily driven by domestic B2C crop protection. While B2B exports and CSM faced declines, new product launches and strategic focus on underserved segments and SPH indicate continued efforts to drive future growth despite market headwinds.
Growth engines
Domestic Formulation Growth
Topline growth of 7% driven by strong placement and campaign activities across key markets in domestic formulation.
B2C Business Expansion
Overcoming challenges, B2C business delivered 19% revenue growth.
New Product Launches
Launched 3 new products during 1QFY27 (2 Herbicides, 1 Insecticide) and 9 products across Cotton, Millet, and Paddy in Seeds business.
Soil & Plant Health Solutions
Soil & Plant Health business registered volume growth in select key products through pre-placement.
Tailwinds
Aggressive Pre-placement & Liquidation
Domestic formulations growth driven by aggressive preplacement, liquidation efforts, and drive for volume scale up.
Digital Marketing Interventions
Digital marketing interventions continue to promote products through Anubandh Edge Schemes, Farmers QR Code/ Reward Schemes, and Sampark+.
Headwinds
Subdued Overall Demand
Overall demand was subdued with driest June in last 12 years, delayed Kharif sowings, crop shifts and reduction in cotton acreages.
Geopolitical Impact
Industry impacted by war situation, leading to panic buying of commodities with significant price increases.
Trade Channel Cash Crunch
Trade channels rushed to secure fertilizer, resulting in cash crunch for Crop Protection causing conservative inventory stocking and slower liquidation.
Illegal HTBT Cotton Spread
Extensive spread of illegal HTBT cotton contributed to reduction in cotton acreages.
Risk radar
Monsoon Dependency
Delayed monsoon and Kharif sowings highlight reliance on weather patterns for agricultural demand.
Crop Shifts
Farmer crop switch and crop shift among other challenges indicate demand volatility.
International Market Volatility
War situation in West Asia impacted planning and led to significant price increases for commodities.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
Agriculture is a seasonal business, and Q1 results are best compared to the same quarter in the previous year to account for seasonal variations in demand, sowings, and market conditions.
Sector KPIs management disclosed
Revenue
Revenue increased by 7% from Rs. 957 Cr. in Q1FY26 to Rs. 1,022 Cr in Q1FY27.
EBITDA
EBITDA increased by 23% from Rs. 150 Cr. in Q1FY26 to Rs. 184 Cr. in Q1FY27.
PAT after Exceptional Items
PAT increased by 31% from Rs. 95 Cr. in Q1FY26 to Rs. 125 Cr. in Q1FY27.
Crop Protection B2C Revenue
Q1FY27 Crop Protection B2C revenue increased by 19% vs Q1FY26.
Management forward view
Strategic Focus
Management aims to widen reach, extend portfolio offerings, build strategic alliances, and focus on underserved crop protection segments.
Innovation & R&D
Mission includes accelerating innovation to market and targeting R&D investments.
Operational Excellence
Management is focused on driving operational excellence and cost competitiveness.
Digital & Customer Centricity
Leveraging digital, collaborations, and alliances, with a core value of customer centricity.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Domestic B2C Growth | 19% revenue growth YoY in Q1FY27. | Sustained double-digit growth and market share gains in domestic formulations. |
| New Product Pipeline | Launched 3 new products in Crop Protection and 9 in Seeds in Q1FY27. | Successful commercialization and revenue contribution from new launches. |
| B2B/CSM Performance | B2B exports including CSM revenue declined by 16% YoY. | Recovery in international demand and improved unit margins in B2B/CSM segments. |
| Monsoon & Sowing Trends | Delayed monsoon and Kharif sowings impacted Q1. | Favorable monsoon progression and improved Kharif sowings for H2 FY27. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
75Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 78th percentile of the scored universe and 64th percentile within Chemicals. Main check: financial discipline is weak at 50/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
120 docs text-extracted · 42 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
78th percentile
overall median 67 · Chemicals: 64th pctile, median 73 · Micro: 60th pctile, median 73
Evidence depth
Financial-only
120 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
50
watch · capital discipline
Results
62
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 55.1%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.5%.
- ▸11 years of positive FCF.
Trust risks
- ▸ROCE trend is -2.9%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
- ▸OPM spread across recent quarters is 22.7%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Rallis India Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 23 Sep - CRISIL reaffirmed Rallis India ratings for Rs. 440 crore bank loans and Rs. 75 crore commercial paper.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 17 Sep - Details of the meetings scheduled with the Analyst / Institutional Investors
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Sep - Details of the meeting scheduled with Analyst / Institutional Investors
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 26 Aug - Details of the meeting scheduled with Analyst / Institutional Investors
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Aug - Rallis India schedules one-on-one investor meetings with Tata AMC, ICICI Prudential AMC, Jio BlackRock AMC, and Antique Broking.
Source: Bse
Investor presentationJul 2026
Jul 2026 · PPT
Source: Bse
Concall transcriptJul 2026
Jul 2026 · Transcript
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 1d - Padmini Khare Kaicker and Dr. C.V. Natraj ceased as independent directors on July 22, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 29 Jul - Newspaper Advertisement for special window for relodgement of transfer requests of physical shares
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s 27 Jul - Rallis India appoints S R B C & CO LLP as statutory auditors from 79th AGM to 84th AGM, subject to approval.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Jun - Newspaper Advertisement - Public Notice regarding Loss of share certificates
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.