Rallis India Ltd. share price target

Rallis India reported muted Q1FY17 numbers largely reflecting incorporation of new accounting methodology (IND AS) and proceeds from land sale. The agrochemical segment reported sales growth of 2% YoY while seed business reported growth of 16% YoY • In Q1FY17, total consolidated revenues came in at | 450.0 crore, up 7.6% YoY on revised Q1FY16 numbers (IND AS). Standalone revenues were at | 255 crore, up 1.4% YoY. Revenues of subsidiaries, including Metahelix, were at | 190 crore, up 16.0% YoY • Consolidated EBITDA in Q1FY17 was at | 75.1 crore (EBITDA margins at 16.7%). Consolidated PAT in Q1FY17 was at | 174.2 crore, supported by proceeds from land sale amounting to | 158 crore. Normalised PAT for the quarter was at | 57 crore. ICICI Securities Limited value Rallis at | 240 i.e. 22x P/E (1.0x PEG) on FY18E EPS of | 10.9 and assign a BUY recommendation to the stock. Rallis is a portfolio stock with >20% return ratios in the past, controlled working capital cycle (<60 days) and un-levered balance sheet (debt: equity<0.1).

Trendlyne has 16 reports on RALLIS updated in the last year from 6 brokers with an average target of Rs 220. Brokers have a rating for RALLIS 1 downgrade,1 price downgrade,3 price upgrades in past 6 months and 2 downgrades,6 price downgrades in past 1 Year.

Well performance in bloomy situation; Maintain ADD Rallis India Ltd (Rallis) reported 4QFY16 result with a 8%/ 12% growth in consolidated revenue at Rs 3.9bn due higher offtake in exports orders,...

For 4QFY2016, Rallis India (Rallis) posted sales of Rs342cr V/s Rs315cr in 4QFY2015, a growth of 8.6% yoy. The same was driven by higher offtake in export orders which have been getting differed since the past two quarters due to a challenging environment faced by global companies. Domestic growth continued to remain muted during the quar..

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.

ICICI Securities Ltd | Retail Equity Research Rallis India reported a decent Q4FY16 performance with one-time charges driving the robustness at the PAT level...

Rallis India (Rallis) posted a disappointing set of numbers for 3QFY2016. Sales for the quarter came in at Rs306cr V/s Rs385cr in 3QFY2015, a dip of 20.4% yoy. Higher sales return in the domestic segment and cancellation of orders by clients in global markets, along with a dip in the seed business, led to the decline in the top-line. On the operating front, the gross margin came in at 48.2% V/s 46.8% in 3QFY2015; still the OPM declined to 10.2% V/s 12.0% in 3QFY2015. This was owing to lower sales during the quarter. The PAT came in at Rs20cr V/s `25cr in 3QFY2015, a dip of 19.9% yoy. We remain Neutral on the stock. Disappointing numbers for the quarter: Sales for the quarter came in at Rs306cr V/s Rs385cr in 3QFY2015, a dip of 20.4% yoy. Higher sales return in the domestic segment and cancellation of orders by clients in global markets, along with a dip in the seed business, led to the decline in the top-line. On the operating front, the gross margin came in at 48.2% V/s 46.8% in 3QFY2015; still the OPM declined to 10.2% V/s 12.0% in 3QFY2015. This was owing to lower sales during the...

With muted domestic and export sales, Rallis Indias revenues fell by 20% YoY to Rs 5.1bn. Lower volumes resulted in low EBITDA margin of 11.3% (-162bps YoY). Hence, EBITDA was Rs 352mn (-30%) and PAT Rs 204mn (-20%). So far, FY16 has been a washout year for Rallis because of (1) The Consecutive rain deficit in India, (2) Weaker Latin America and European currencies, (3) Muted international prices of agri-commodities, and (4) Unfavourable weather conditions in Brazil.

Rallis India (Rallis) posted disappointing results for 2QFY2016. Sales for the quarter came in at Rs499.7cr V/s Rs635.9cr in 2QFY2015, a dip of 21.4% yoy. Sales were adversely impacted due to poor monsoon in India, while the international market also faced pressure with Brazil (a key market for the company) witnessing a severe drought. In USA, low crop commodity prices along with higher inventory prices impacted consumption. On the operating front, the gross margins came in at 46.7% V/s 38.5% in 2QFY2015, which lead the OPM to come in at 18.9% V/s 18.2% in 2QFY2015. The PAT came in at Rs57cr V/s Rs73cr in 2QFY2015, a yoy dip of 22.0%. We remain Neutral on the stock. Disappointing sales: For 2QFY2016, sales came in at Rs499.7cr V/s Rs635.9cr in in 2QFY2015, a dip of 21.4% yoy. Sales were adversely impacted due to poor monsoon in India, while the international market also faced pressure with Brazil (a key market for the company) witnessing a severe drought. In USA, low crop commodity prices along with higher inventory prices impacted consumption. On the operating front, the gross margins came in at 46.7% V/s 38.5% in 2QFY2015, which lead the OPM to come in at...