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.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust is supportive, price trend argues for patience, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 30 Jun 2026
Good · 70/100Rev +7% YoY · PAT +32% YoY · margin expansion · +124% QoQ · operating leverage
| 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.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
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.
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.
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+.
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.
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
Management accountability
What management said, and what results must prove
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.
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.
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.
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.
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.
Trend score and candlestick chart
37Bearishfull bear SMA stack · SMA20 -5.7% / mo · MACD + · near 52W low
Technical chart
RALLISdaily · 1Y · AUTO-18.8%Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 39. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~6.0% over last month) — short-term momentum negative.
- RSI(14) at 39 — sideways, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 34 · WATCHLIST · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 34 · WATCHLIST · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
WATCHLISTWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 12/15 to the score.
- Cash flow contributes 6/10 to the score.
Main drags
- Fair-value margin of safety is negative at -292.1%.
- Quality is weaker at 1/20; verify the latest quarterly trend.
- Growth is weaker at 4/25; verify the latest quarterly trend.
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
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.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: 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.
High Trust Lite: Promoter holding is 55.1%. Key concern: ROCE trend is -2.9%.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Chemicals: 64th pctile, median 73 · Micro: 60th pctile, median 73
120 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead 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.
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.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 25.70
- P/B
- 2.40
- EV/EBITDA
- 11.70
- Market Cap
- 4061.00Cr
Profitability
- ROE
- 9.61%
- ROCE
- 12.80%
- ROA
- 5.74%
- Dividend Y
- 1.44%
Growth (CAGR)
- Revenue 5Y
- 9.00%
- EPS 5Y
- -2.00%
- Revenue 3Y
- 9.00%
- EPS 3Y
- 1.00%
Balance Sheet
- Debt/Equity
- 0.05
- Interest Coverage
- 40.14×
- Altman Z
- 4.37
- Book Value
- 87.20
Cash Flow
- FCF Yield
- 1.53%
- FCF Positive Y
- 11/5
- OCF
- 166.00 Cr
- EPS TTM
- 8.44
Shareholding
- Promoter Hold
- 55.08%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 2%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
Business-comparable names in Chemicals, ranked by similarity
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.