Rallis reported topline growth of 6% YoY to | 663 crore vs. our expectation of | 725 crore. The lower growth was primarily due to poor sales from seed and international business. Revenue from the seed business grew 2.8% YoY to | 261 crore while the same from crop protection was up 10.7% YoY to | 402 crore. Higher gross margins (up 230 bps YoY) due to increase in the realisation and change in the product mix translated into expansion in operational performance. OPM improved 415 bps YoY to 19.4% resulting in EBITDA growth of 35.4% YoY to | 128 crore vs. our expectation of | 110...