FY16 has been challenging for Rallis India considering (1) Two years of rain deficit in India, (2) Weaker Latin America and European currencies, (3) Muted international prices of agri-commodities, and (4) Unfavourable weather in Latin America. Hence, EBITDA declined 17% YoY to Rs 2.3bn and PAT fell 9% to Rs 1.4bn.