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Rallis India Limited (RALLIS)

₹204.93 +1.95% last close, 16 Oct

📊 NSE: RALLIS 🏢 Pesticides / Agrochemicals - Indian 📢 Latest filing: 23 Sep 2026 📝 Analysis written: 14 Dec 2025

Q2 FY27 results

📅 Next results: 22 Oct 2026 (board meeting)

Rallis India Limited's board meets on 22 Oct 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, Rallis India's revenue was ₹1,022 Cr (+6.8% year on year, +124.1% on the previous quarter), and net profit ₹125 Cr (+31.6% year on year); the operating margin was 18.1%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹1,022	+6.8%	+124.1%
Operating profit	₹185	+23.3%	from loss
Net profit	₹125	+31.6%	from loss
EPS (₹)	6.43	+31.5%	from loss
Operating margin	18.1%	—	—

Full quarterly financials → Results calendar →

RALLIS delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 45.64% of the RALLIS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 53.39%. That is close to its usual level.

45.64%Delivery, 16 Oct

53.39%Own 20-session average

0.8×Volume vs its average

₹204.93NSE close · +1.95%

Delivery in the last 5 sessions: 43.7% · 53.8% · 35.0% · 40.9% · 45.6%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

CRISIL Reaffirms Rallis India's Ratings for Rs 440 Cr Bank Facilities and Rs 75 Cr CP

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Sep 2026, 11:45 AM

CRISIL Ratings has reaffirmed Rallis India Limited's credit ratings for its borrowing programs. Long-term bank loan facilities of Rs 440 Crore have been reaffirmed at CRISIL AA+/Stable, while short-term facilities were reaffirmed at CRISIL A1+. Additionally, the company's Commercial Paper program of Rs 75 Crore received a reaffirmed rating of CRISIL A1+. With total debt currently at just Rs 61 Crore (D/E of 0.03), these reaffirmed ratings highlight continued high creditworthiness and low financing costs.

CRISIL reaffirmed rating of CRISIL AA+/Stable for long-term bank facilities aggregating Rs 440 Crore
Short-term bank facilities aggregating Rs 440 Crore reaffirmed at CRISIL A1+
Commercial Paper program of Rs 75 Crore reaffirmed at CRISIL A1+
Letter received from CRISIL Ratings Limited dated September 22, 2026

💡 Track upcoming quarterly performance and working capital management, as Rallis maintains an underleveraged balance sheet with minimal reliance on external borrowings.

Rallis India: Trading Window Closes September 24, 2026 for Q2 and H1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 21 Sep 2026, 01:16 PM

Rallis India Limited has announced the closure of its trading window for insiders starting Thursday, September 24, 2026. The closure is in compliance with the SEBI Prohibition of Insider Trading Regulations ahead of the consideration of Q2 and H1 financial results ending September 30, 2026. The window will reopen 48 hours after the conclusion of the board meeting where results are approved. The exact date of the board meeting will be intimated separately.

Trading window closure commences on September 24, 2026
Pertains to Unaudited Financial Results for the quarter and half year ending September 30, 2026
Window to reopen 48 hours after the conclusion of the upcoming Board Meeting

💡 Track the upcoming board meeting date announcement for the schedule of Q2 and H1 financial results.

Rallis India Schedules Investor Meetings on September 22-23, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 17 Sep 2026, 04:12 PM

Rallis India Limited has scheduled one-on-one meetings with institutional investors and analysts in Mumbai on September 22 and 23, 2026. The participating institutions include Axis Capital, Carnelian Capital, Renaissance Investment Managers, and Nippon AMC. The company noted that no Unpublished Price Sensitive Information (UPSI) will be shared during these interactions.

One-on-one meetings scheduled with 3 institutions on September 22, 2026: Axis Capital, Carnelian Capital, and Renaissance Investment Managers
One-on-one meeting scheduled with Nippon AMC on September 23, 2026
All meetings are planned to take place in Mumbai
Company confirmed no Unpublished Price Sensitive Information (UPSI) will be disclosed

💡 Track subsequent post-meet disclosures or investor presentations on the stock exchange for any operational updates regarding demand or raw material pricing.

Rallis India Schedules One-on-One Investor Meetings on September 16 and 22, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Sep 2026, 07:58 PM

Rallis India Limited has notified the exchanges regarding scheduled one-on-one interactions with institutional investors. The company will meet Abakkus Asset Managers virtually on September 16, 2026. Subsequently, in-person meetings are scheduled in Mumbai on September 22, 2026, with DAM Capital and Canara Robeco Asset Management. The company confirmed that no unpublished price sensitive information (UPSI) will be shared.

Virtual one-to-one meeting scheduled with Abakkus Asset Managers on September 16, 2026
In-person one-to-one meeting with DAM Capital in Mumbai on September 22, 2026
In-person one-to-one meeting with Canara Robeco Asset Management in Mumbai on September 22, 2026
Company confirmed no Unpublished Price Sensitive Information (UPSI) will be shared

💡 Monitor investor presentation uploads or transcript disclosures following the meetings to track management commentary on domestic crop protection trends and export headwinds.

Rallis India Schedules Investor Meetings Across Sep 1-21, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Aug 2026, 01:50 PM

Rallis India Limited has notified exchanges of scheduled interactions with multiple institutional investors and participation in investor conferences between September 1 and September 21, 2026, in Mumbai. The schedule includes one-on-one meetings with funds like LIC Mutual Fund, UTI Mutual Fund, Bandhan Mutual Fund, and DSP Mutual Fund on September 2 and 3, 2026. Additionally, the company will participate in the Elara Ashwamedh and Anand Rathi investor conferences. The company confirmed that no unpublished price-sensitive information (UPSI) will be shared during these interactions.

Scheduled investor interactions running from September 1 to September 21, 2026, in Mumbai
Participation in two investor conferences: Elara Ashwamedh (Sep 1) and Anand Rathi (Sep 21)
8 one-on-one meetings scheduled across Sep 2 and Sep 3 with institutions including LIC MF, UTI AMC, DSP MF, and ASK Investment Managers
Company confirmed no Unpublished Price Sensitive Information (UPSI) will be shared

💡 Track subsequent post-meet presentation uploads or transcripts on exchange filings to monitor management commentary on crop season demand and margins.

Rallis India CFO Bhaskar Swaminathan to Step Down Effective Nov 4, 2026 on Tata Group Move

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 20 Aug 2026, 07:39 PM

Bhaskar Swaminathan has resigned as Chief Financial Officer and Key Managerial Personnel of Rallis India Limited, effective November 4, 2026. The resignation is pursuant to an internal transition to another company within the Tata Group. With the intimation submitted on August 20, 2026, the company has an orderly transition period of over two months to finalize a successor to oversee its ₹2,696 Cr revenue operations.

CFO Bhaskar Swaminathan stepping down effective November 4, 2026
Departure driven by a proposed internal transition within the Tata Group
Transition notice given on August 20, 2026, allowing a ~2.5 month handover window

💡 Track subsequent board announcements regarding the appointment and onboarding of the incoming Chief Financial Officer.

Rallis India Appoints Sridhar Radhakrishnan as CFO Effective Nov 4, 2026

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 20 Aug 2026, 06:57 PM

Rallis India Limited has announced a planned transition in its Key Managerial Personnel (KMP). Chief Financial Officer Bhaskar Swaminathan will step down effective November 4, 2026, to transition to another Tata Group company. The Board has appointed Sridhar Radhakrishnan as the new CFO, effective November 4, 2026. Mr. Radhakrishnan brings over 21 years of experience, having served as CFO at Tata Consulting Engineers Limited for approximately 4 years, with prior stints across Tata Sons, Tata Chemicals, and Tata Teleservices.

Bhaskar Swaminathan relieved as CFO effective November 4, 2026, upon moving to another Tata Group entity.
Sridhar Radhakrishnan appointed as the new Chief Financial Officer effective November 4, 2026.
Incoming CFO Sridhar Radhakrishnan holds over 21 years of finance experience, including ~4 years as CFO at Tata Consulting Engineers Limited.

💡 Track the seamless handover of financial management duties leading up to the November 4, 2026 effective date and monitor capital allocation focus in subsequent earnings updates.

Rallis India Appoints Sridhar Radhakrishnan as CFO Effective November 4, 2026

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 20 Aug 2026, 06:45 PM

Rallis India announced the appointment of Mr. Sridhar Radhakrishnan as Chief Financial Officer (CFO), effective November 4, 2026. He succeeds Mr. Bhaskar Swaminathan, who is transitioning to another Tata Group company and will step down on the same date. Radhakrishnan brings over 21 years of finance experience, having served as CFO of Tata Consulting Engineers for the last ~4 years, alongside previous roles at Tata Sons, Tata Chemicals, and Tata Teleservices. The transition represents a routine intra-group leadership handover within the Tata ecosystem.

CFO transition effective November 4, 2026, following approval by the Board on August 20, 2026
Outgoing CFO Bhaskar Swaminathan is stepping down to move to another Tata Group company
Incoming CFO Sridhar Radhakrishnan brings over 21 years of experience in corporate and business finance
Radhakrishnan previously served ~4 years as CFO at Tata Consulting Engineers Limited

💡 Track the smooth handover of financial responsibilities leading up to November 4, 2026, and watch for any strategic updates during upcoming quarterly earnings calls.

Rallis India schedules 4 one-on-one meetings with Tata AMC, ICICI Pru, and Jio BlackRock

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Aug 2026, 09:22 PM

Rallis India has announced a schedule of one-on-one meetings with institutional investors and analysts between August 13 and August 21, 2026. Key participants include Tata AMC, ICICI Prudential AMC, Jio BlackRock AMC, and Antique Broking. The company has clarified that no unpublished price-sensitive information (UPSI) will be shared during these sessions. These interactions occur against a backdrop of a 40.8% decline in the company's stock price over the last 12 months.

4 one-on-one meetings scheduled with institutional investors and analysts
Meetings to take place between August 13, 2026, and August 21, 2026
Participation from major funds including Tata AMC and ICICI Prudential AMC
Company confirms 0 unpublished price-sensitive information will be shared

💡 Investors should monitor the exchange for any investor presentations or meeting transcripts that may be released following these dates for updates on the company's recovery strategy.

Rallis India Appoints S R B C & CO LLP as Statutory Auditors for 5-Year Term Starting 2027

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Jul 2026, 08:03 PM

Rallis India has approved the appointment of S R B C & CO LLP as its new statutory auditors for a five-year term, effective from the conclusion of the 79th AGM in 2027 until the 84th AGM in 2032. This change is a regulatory requirement as the current auditors, B S R & Co. LLP, will complete their second consecutive five-year term in 2027. The appointment is subject to shareholder approval at the 2027 AGM. This transition is a standard procedural rotation under the Companies Act, 2013, ensuring audit independence.

Appointment of S R B C & CO LLP for a 5-year consecutive term starting from the 2027 AGM.
Current auditors B S R & Co. LLP will complete their 10-year tenure (two terms) by the 79th AGM in 2027.
The Board of Directors approved the appointment via Circular Resolution on July 27, 2026.
The new audit firm, S R B C & CO LLP, is part of the S. R. Batliboi & Affiliates network.

💡 No immediate action is required; investors should look for the formal shareholder approval of this appointment in the 2027 Annual General Meeting notice.

Rallis India Q1 FY27: Management Flags 15% Rainfall Deficit and 21% Lower Kharif Acreage

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 27 Jul 2026, 05:48 PM

Rallis India's Q1 FY27 earnings call highlighted a challenging start to the fiscal year, with seasonal rainfall 15% below normal as of July 8, 2026. Total Kharif acreage was down 21% year-on-year, with significant declines in cotton (-35%) and oilseeds (-53%), impacting demand for crop protection products. Management noted that while reservoir levels improved to 34.46% by mid-July, pricing pressure from China and elevated freight costs due to Middle East tensions continue to squeeze margins. The company is focusing on its Innovation Turnover Index (ITI), aiming to increase it from 14% to 20% through new product launches.

Seasonal rainfall remained 15% below normal as of July 8, 2026, leading to a 21% YoY lag in total Kharif acreage.
Cotton acreage saw a sharp 35% decline, while oilseeds acreage dropped by 53% as of end-June 2026.
Reservoir levels improved to 34.46% by July 16, 2026, up from 26% at the start of the month.
Management targets increasing the Innovation Turnover Index (ITI) from the current 14% to 20% in the medium term.
Domestic agrochemical sector growth for FY27 is projected at 6-8%, contingent on monsoon recovery.

💡 Watch for the pace of 're-sowing' in late July and August, which could drive a recovery in volumes for short-duration crops, and monitor the impact of Middle East logistics disruptions on gross margins.

2 Independent Directors Complete Tenure Effective July 22, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 22 Jul 2026, 10:06 AM

Rallis India Limited has announced the cessation of two Independent Directors, Ms. Padmini Khare Kaicker and Dr. C. V. Natraj, effective July 22, 2026. Both directors have completed their second consecutive terms, which is the maximum tenure permitted under SEBI regulations. This is a routine governance event for the ₹4,448 Cr market cap company and does not reflect any internal disputes or operational issues.

2 Independent Directors exited the board following the completion of their statutory tenures.
Cessation is effective from July 22, 2026, after completing terms on July 21, 2026.
The change is in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

💡 Monitor future announcements regarding the appointment of new Independent Directors to ensure the board maintains its required composition and professional expertise.

Rallis India Releases Audio Recording of Q1 FY27 Investor Call Held on July 21, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 21 Jul 2026, 07:25 PM

Rallis India has published the audio recording of its analyst and institutional investor call conducted on July 21, 2026. This follows the Board's approval of the unaudited financial results for the quarter ended June 30, 2026, on July 20, 2026. The call provides management's perspective on the company's performance in the agrochemical sector, where it currently maintains a TTM revenue of Rs 2,696 Cr. Investors can use this recording to gauge progress on the company's strategy to increase its Innovation Turnover Index (ITI) from 14% to 20%.

Audio recording of the investor call held on July 21, 2026, is now publicly available.
The call pertains to the unaudited financial results for the quarter ended June 30, 2026.
Board of Directors approved the quarterly results on July 20, 2026.
Company operates with a TTM revenue of Rs 2,696 Cr and a market capitalization of Rs 4,448 Cr.
Management continues to focus on a medium-term target of 20% Innovation Turnover Index (ITI).

💡 Investors should listen to the recording to understand management's commentary on domestic volume offtake and the recovery status of export realizations which previously faced a 30% decline.

Rallis India Releases Audio Recording of Q1 FY27 Earnings Call

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 21 Jul 2026, 07:17 PM

Rallis India has published the audio recording link for its investor call held on July 21, 2026, regarding the unaudited financial results for the quarter ended June 30, 2026. The results were previously approved by the Board on July 20, 2026. This filing is a standard regulatory requirement to ensure transparency for all shareholders. Investors can use the recording to assess management's commentary on the agrochemical sector's recovery and the company's progress toward its 8-10% growth target.

Audio recording link provided for the investor call held on July 21, 2026
Pertains to the unaudited financial results for the quarter ended June 30, 2026
Board of Directors approved the quarterly results on July 20, 2026
Company maintains a stable promoter holding of 55.08% as of March 2026

💡 Investors should listen to the recording specifically for management's commentary on domestic volume offtake given the monsoon progress and updates on the export realization pressures which saw a 30% decline in FY24.

Rallis Q1 FY27: 31% PAT Growth to ₹125 Cr Driven by 19% Domestic B2C Surge

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 20 Jul 2026, 08:34 PM

Rallis India reported a resilient Q1 FY27 performance with revenue growing 7% YoY to ₹1,022 Cr, despite the driest June in 12 years. The growth was primarily fueled by a 19% revenue increase in the domestic B2C business, which offset a 16% decline in B2B exports and CSM segments. EBITDA rose 23% to ₹184 Cr, reflecting improved volume growth in Crop Protection and fixed cost optimization. Net profit (PAT) increased 31% YoY to ₹125 Cr, demonstrating strong margin management in a challenging macro environment.

Revenue increased 7% YoY to ₹1,022 Cr, accounting for approximately 38% of TTM revenue.
PAT grew 31% YoY to ₹125 Cr, significantly outpacing revenue growth due to margin expansion.
Domestic B2C business delivered 19% revenue growth with 15% volume growth.
B2B exports and CSM revenue declined by 16% YoY due to global headwinds and West Asia conflict impacts.
Launched 12 new products in Q1, including 3 in Crop Protection and 9 in the Seeds segment.

💡 Investors should monitor the recovery of the B2B export segment and the progress of the monsoon in Q2, which will dictate domestic liquidation. Key metrics to track include the Innovation Turnover Index (ITI) as the company targets a move from 14% to 20% through new launches.

View All RALLIS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The Crop Care segment (82-84% of revenue) saw a 10.8% decline in FY24 to INR 2,650 Cr but recovered with 16% growth in Q1 FY26. The Seeds segment (16% of revenue) grew 21% in FY24 to INR 416 Cr and surged 38% in Q1 FY26 due to better volume offtake.

Geographic Revenue Split

Domestic sales contribute ~80% of total revenue, covering 80% of India's districts. Exports contribute ~20% (INR 545 Cr in FY25), reaching 41 countries, though export revenue declined 35% in FY24 and 14.7% in FY25 due to global headwinds.

Profitability Margins

Gross margins improved to 40.1% in FY24 from 34.2% in FY23. Operating margins fluctuated from 8.6% in FY23 to 12.3% in FY24, then moderated to 11.1% in FY25 due to lower operating leverage on flat revenues.

EBITDA Margin

EBITDA margin stood at 11.1% for FY25, a decrease from 12.3% in FY24. Q1 FY26 saw a temporary spike to 16.92% driven by pre-buying and early monsoon, while the company targets a long-term seed business EBITDA margin of 23-25%.

Capital Expenditure

Historical and planned annual capital expenditure is maintained at INR 150 Cr per annum to fund manufacturing efficiencies and new product development.

Credit Rating & Borrowing

CRISIL AA+/Stable for long-term and CRISIL A1+ for short-term/commercial paper. Interest coverage remains robust at 17.5x to 19x, supported by a healthy capital structure with nearly nil term debt.

⚙️ Operational Drivers

Raw Materials

Key inputs include chemical feedstocks and technical grade pesticides, which are subject to global price volatility. Raw material inflation is managed through procurement efficiency and pricing discipline.

Import Sources

Sourced both domestically and internationally, with significant exposure to China, which has impacted the market through dumping and price erosion in the technicals segment.

Key Suppliers

Not specifically named in the documents, but the company leverages its relationship with parent Tata Chemicals Ltd for operational and managerial support.

Capacity Expansion

Focus is on manufacturing efficiencies and the Rallis Innovation Chemistry Hub (RICH) to cater to domestic and global requirements, supported by INR 150 Cr annual capex.

Raw Material Costs

Raw material costs are a significant portion of the cost structure; gross margins improved by 590 basis points in FY24 due to cost optimization and lower feedstock prices.

Manufacturing Efficiency

Focus on manufacturing efficiencies and digitalization to grow faster than the industry average. Capacity utilization metrics are not explicitly provided.

Logistics & Distribution

Extensive distribution network covering 80% of India's districts; specific distribution costs as a % of revenue are not disclosed.

📈 Strategic Growth

Expected Growth Rate

8-10%

Growth Strategy

Growth will be driven by increasing the Innovation Turnover Index (ITI) from 14% to 20% through new product launches, particularly in the Herbicide segment (23% of branded sales), and expanding digital market reach in rural villages.

Products & Services

Insecticides (44% of domestic branded formulations), Fungicides (32%), Herbicides (23%), hybrid seeds (cotton, etc.), and plant growth nutrients.

Brand Portfolio

Rallis India, RICH (Rallis Innovation Chemistry Hub), and Sampark (farmer engagement initiative).

New Products/Services

New product launches contributed to a 14% ITI in FY25, with a target to reach 20% over the medium term to drive revenue growth.

Market Expansion

Expanding strategic alliances and farmer reach in domestic villages while exploring new export opportunities in 41 countries.

Market Share & Ranking

Rallis is a leading player in the domestic crop protection sector, though its 2% CAGR has lagged the industry's 7-8% CAGR over the last five years.

Strategic Alliances

Partnerships for seed products and strategic alliances for crop protection; specific partner names are not disclosed.

🌍 External Factors

Industry Trends

The industry is seeing a shift toward herbicides due to changing labor dynamics and a focus on digitalization for farmer engagement. Global markets are currently recovering from a period of intense de-stocking.

Competitive Landscape

Competes with multinationals and domestic players in a highly fragmented and regulated agrochemical market.

Competitive Moat

Moat is built on the 'Tata' brand, a strong distribution network (80% of districts), and deep farmer relationships. Sustainability is supported by the 55.08% ownership by Tata Chemicals Ltd.

Macro Economic Sensitivity

Highly sensitive to agricultural GDP and monsoon patterns; early monsoon in FY26 led to a 22.2% revenue jump in Q1 due to pre-buying.

Consumer Behavior

Farmer sentiment is volatile and tied to farm income and monsoon reliability, influencing the timing of pesticide and seed purchases.

Geopolitical Risks

Trade dynamics with China (dumping) and global supply chain disruptions pose significant risks to the export segment (20% of revenue).

⚖️ Regulatory & Governance

Industry Regulations

Subject to specific registration processes in different countries and potential bans on key pesticides; the company maintains a product pipeline to mitigate these risks.