Rallis India Ltd. share price target

strict working capital norms (days: 5/37/3 in Q2FY15/Q4FY15/Q2FY16). However, the companyexpectstoreverseitsstrategyoncesentimentimproves 9 ManagementsaysnewproductssuchasHunkandOriginwerewellaccepted.Haslaunched...

Rallis India reported a sharp drop in revenues ? 22% YoY to Rs 5.0bn ? led by (1) Muted domestic sales, (2) Sharp fall in exports, and (3) Lower seed revenues (-35%). This impacted EBITDA and APAT, which came in at Rs 966mn (-20%) and Rs 573mn (-22% YoY), respectively.

Bad monsoon spoils performance; Downgrade to ADD Rallis India Ltd (Rallis) reported submissive 2QFY16 result with a 22% reduction in consolidated revenue at Rs 5bn due to ~14%...

Rallis Indias 1QFY16 results were disappointing on all fronts. Revenues were flat YoY at Rs 4.7bn led by decline in domestic & international pesticides vol. Seeds revenues were also below estimates led by shift in crop patterns owing to volatile rains.

Uncertain monsoon spoiled Q1 results; maintain BUY Rallis India Ltd (Rallis) reported subdued 1QFY16 result with a flat consolidated revenue growth at Rs 4.6 bn due to the uncertain...

Unseasonal rains a spoil spot; maintain BUY Rallis India Ltd (Rallis) reported 4QFY15 result with a muted consolidated revenue growth of (-2.9%) at Rs 3.2 bn due to...

Rallis India is trading at 15.2/3.6x FY17E EPS/BV. Attractive valuation, zero debt, strong RoE/RoCE and new product launches are key positives for the stock. Maintain BUY with a TP of Rs 251 (18x FY17E EPS). Recent weakness in the stock price offers a buying opportunity for the long term investors.

We initiate coverage on Rallis India Ltd. (Rallis) with BUY and a price target of Rs. 307 implying 40% upside. Rallis is one of the top three companies in agrochemical sector. We believe with the focus on the...