Top picks: Rallis India and Dhanuka Agritech A normal monsoon in 2017 and better reservoir level led to strong crop sowing in the rabi season. Sowing was at a record high of 58.4 mn hectares (+57.4% YoY) led by Rice (+46.1%) and Pulses (+7.6%). However, GST implementation resulted in some disruptions in 1HFY18. We expect better growth for domestic agrochemical industry in 2HFY18E. However, we prefer companies with the focus on the export market.