Rallis India Limited (RALLIS)

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Rallis India Limited (RALLIS) · mywealthgrid

About

Rallis India operates in pesticides and agrochemicals within the Materials sector, with a market cap of ₹4,132.74 Cr. The business shows pronounced seasonality, with strong harvest-quarter results (Jun 2026: ₹1,022 Cr revenue, ₹125 Cr profit) offset by significant losses in off-season periods (Mar 2026: ₹15 Cr loss on ₹456 Cr revenue). This seasonal pattern dominates annual performance and profitability.

Face value: ₹1

Market cap

₹3,884 Cr

P/E

23.7×

P/B

2.3×

Dividend yield

2.8%

ROE

10%

ROCE

13.2%

Debt / equity

0.03

OPM

10.5%

EPS (TTM)

₹8.4

Book value

₹87.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Seasonal profitability swings create earnings instability: Mar 2026 loss of ₹15 Cr and Mar 2025 loss of ₹32 Cr despite ₹430–456 Cr revenue, while peak Jun 2026 posted ₹125 Cr profit—verify if off-season losses can be narrowed

Thin blended margins (OPM 10.52% annualized) leave limited cushion: input cost inflation or competitive pricing pressure could compress returns sharply in weak quarters

Valuation appears stretched relative to returns: PE 25.17 against ROE 9.99% raises concern the market is pricing growth not yet demonstrated

Stock declined 41.93% over 1 year despite Jun 2026 strong results—verify whether this reflects structural demand headwinds, competitor disruption, or temporary cycle weakness

Generated analysis · source review pending

Growth drivers

Jun 2026 revenue ₹1,022 Cr (+7% vs Jun 2025's ₹957 Cr) with OPM improved to 18.1% from 15.67%—peak-season strength recovery if sustained

Sep quarter operating margin sustained at 17.89% (both 2024 and 2025)—indicates repeatable peak-season profitability if crop cycle repeats

Verify monsoon adequacy and farmer spending power, as peak-season performance depends on rainfall and agricultural income trends to sustain Jun-level results

Mar quarters consistently unprofitable (₹15 Cr loss in 2026, ₹32 Cr in 2025)—if narrowed through improved capacity utilization or mix, full-year earnings could improve substantially

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹199.7-0.1%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 47.4×
+Dividend yield of 2.8%
+Dividend payout of 65.1% of profit

Cons

−Modest revenue growth of 9.5% a year over the last 3 years

Research score

Structured signal from quality, growth, valuation and momentum.

47/100

Business quality: 53
Growth: 22
Valuation: 66

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022
	1,984	2,252	2,429	2,604
COGS	1,172	1,390	1,475	1,624
Gross profit	812	862	954	980
	571	602	631	706
	241	259	323	274
OPM %	12.1%	11.5%	13.3%	10.5%
Depreciation	46	62	64	74
Interest	5	6	5	5
	31	46	50	27
Profit before tax	220	237	304	222
Tax	65	54	75	58
Tax %	29.7%	22.7%	24.7%	26.2%
	155	184	229	164
PAT margin %	7.8%	8.2%	9.4%	6.3%
EPS (₹)	8	9.5	11.8	8.4
EPS adjusted (₹)	8	9.5	11.8	8.4
	31.3%	26.3%	25.5%	35.5%
Annual report	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Equity capital	19	19	19	19	19	19
Reserves	1,092	1,171	1,266	1,390	1,571	1,677
Minority interest	0	1	2	1	1	—
	37	20	69	62	42	58
	584	787	806	976	956	1,103
Total equity & liabilities	1,733	1,999	2,163	2,448	2,589	2,858
	568	568	575	370	599	738
CWIP	12	12	13	29	106	56
Investments	239	96	109	302	284	212
	913	1,323	1,465	1,747	1,600	1,852
Total assets	1,733	1,999	2,163	2,448	2,589	2,858

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Margins
Gross margin %	40.9%	38.3%	39.3%	37.6%
EBITDA margin %	12.1%	11.5%	13.3%	10.5%
EBIT margin %	9.8%	8.8%	10.7%	7.7%
PAT margin %	7.8%	8.2%	9.4%	6.3%
Working capital
Receivable days	83	73	61	63
Inventory days	210	184	189	211
Payable days	167	167	147	169
NWC days	126	89	102	104
Leverage
Current ratio	1.74	1.69	1.81	1.67
Debt to EBITDA	0.29	0.24	0.13	0.21
Debt to equity	0.05	0.04	0.03	0.03
Interest coverage	43	38	57.4	47.4
Asset turnover	0.92	0.92	0.94	0.91
Return ratios
Return on assets %	7.2%	7.5%	8.8%	5.7%
Return on capital employed %	16.7%	16.4%	18.9%	13.2%
Return on equity %	12%	13%	14.4%	9.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	55.08%	55.08%	55.08%	55.08%	55.08%	55.08%	55.08%	55.08%	55.08%	55.08%	55.08%	55.08%
	8.23%	9.22%	9.21%	9.46%	10.58%	11.86%	11.41%	11.28%	14.2%	12.08%	11.55%	9.12%
	14.45%	12.83%	12.77%	13.25%	13.84%	13.29%	13.78%	13.84%	11.19%	11.29%	11.31%	11.72%
	0%	0%	0%	0%	0%	0%	0%	0%	0.41%	0.41%	0.41%	0.41%
	22.24%	22.87%	22.94%	22.21%	20.5%	19.77%	19.73%	19.8%	19.12%	21.14%	21.65%	23.67%
No. of shareholders	—	—	—	—	—	—	—	—	1,26,636	1,35,010	1,29,225	1,30,812

Promoter holding up 0 percentage points since Sep 2023.

39 deals · 19 Sept 2022 – 22 Jan 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
22 Jan 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	14,86,774	₹269.88	₹40.13 Cr
22 Jan 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	14,86,774	₹269.72	₹40.10 Cr
22 Jan 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	11,04,518	₹268.89	₹29.70 Cr
22 Jan 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	11,04,518	₹268.73	₹29.68 Cr
22 Jan 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	9,84,739	₹269.80	₹26.57 Cr
22 Jan 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	9,84,274	₹269.58	₹26.53 Cr
2 Dec 2025	ASK INVESTMENT MANAGERS PVT LTD - PMS POOL ACCOUNT	Bulk	NSE	Buy	11,22,800	₹266.73	₹29.95 Cr
15 Jul 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	20,22,633	₹371.64	₹75.17 Cr
15 Jul 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	20,21,459	₹371.70	₹75.14 Cr
16 Oct 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	14,84,407	₹363.90	₹54.02 Cr

1–10 of 39

1 / 4

Mr. S. PadmanabhanNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. C. V. NatrajNon-Executive - Independent Director
Ms. Padmini Khare KaickerNon-Executive - Independent Director
Mr. Ashok Hiralal SharmaNon-Executive - Independent Director
Ms. Rashmi Satish JoshiNon-Executive - Independent Director
Mr. David Francis CreanNon-Executive - Independent Director
Mr. Mukundan RamakrishnanNon-Executive - Non Independent Director
Mr. Gyanendra ShuklaExecutive Director-CEO-MD
Mr. Bhaskar SwaminathanChief Financial Officer
Ms. Sariga P GokulCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 5 fund houses

Held by these funds

5.66%

of the company's equity

All mutual funds

9.41%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

8 schemes · 5 fund houses

		Shares
Contra Fund	SBI Mutual Fund	91.8 L	190.19	0.4%	4.72%	-0
SMALL CAP FUND	Tata Mutual Fund	5.4 L	11.2	0.09%	0.278%	-0
ELSS Tax Saver Fund	SBI Mutual Fund	5.04 L	10.43	0.03%	0.259%	-9.51 L
Multi Asset Allocation Fund	SBI Mutual Fund	5 L	10.36	0.05%	0.257%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	2.23 L	4.63	0.19%	0.115%	-4,889
ESG Best In Class Strategy Fund	Quantum Mutual Fund	63,031	1.31	1.36%	0.032%	-0
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	1,528	0.03	0.01%	0.001%	+7
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	254	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

This is to inform that CRISIL Ratings Limited vide its letter dated September 22, 2025, has intimated the Company that it has reaffirmed its credit rating as enclosed.23 Sept 2025 from CRISIL

Investor Presentation and earnings call

Jul 2026Transcript AI Summary PPTREC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

25 announcementsExport CSV

29 Sept 2026, 12:13 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Margins
Gross margin %	40.9%	38.3%	39.3%	37.6%
EBITDA margin %	12.1%	11.5%	13.3%	10.5%
EBIT margin %	9.8%	8.8%	10.7%	7.7%
PAT margin %	7.8%	8.2%	9.4%	6.3%
Working capital
Receivable days	83	73	61	63
Inventory days	210	184	189	211
Payable days	167	167	147	169
NWC days	126	89	102	104
Leverage
Current ratio	1.74	1.69	1.81	1.67
Debt to EBITDA	0.29	0.24	0.13	0.21
Debt to equity	0.05	0.04	0.03	0.03
Interest coverage	43	38	57.4	47.4
Asset turnover	0.92	0.92	0.94	0.91
Return ratios
Return on assets %	7.2%	7.5%	8.8%	5.7%
Return on capital employed %	16.7%	16.4%	18.9%	13.2%
Return on equity %	12%	13%	14.4%	9.7%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Upl LimitedUPLUPL	₹43,628 Cr	₹65,674 Cr	₹52,804 Cr	₹9,326 Cr	17.9%	₹2,020 Cr	4.3%	11.2%	6%	135
Sumitomo Chemical India LimitedSUMICHEMSUMICHEM	₹20,842 Cr	₹20,844 Cr	₹3,245 Cr	₹685 Cr	20.7%	₹579 Cr	16.8%	23.1%	17.3%	155
Bayer Cropscience LimitedBAYERCROPBAYERCROP	₹15,958 Cr	—	₹5,472 Cr	₹688 Cr	15.4%	₹568 Cr	12.1%	28.4%	23.7%	300
Sharda Cropchem LimitedSHARDACROPSHARDACROP	₹6,397 Cr	₹6,397 Cr	₹5,357 Cr	₹1,047 Cr	20.4%	₹626 Cr	12.9%	28%	24.2%	125
Dhanuka Agritech LimitedDHANUKADHANUKA	₹4,217 Cr	₹4,259 Cr	₹2,035 Cr	₹417 Cr	20.5%	₹297 Cr	14.6%	28.9%	22.3%	160
Rallis India LimitedRALLISRALLIS	₹3,884 Cr	₹3,942 Cr	₹2,604 Cr	₹274 Cr	10.5%	₹164 Cr	6.3%	13.2%	10%	104
Bhagiradha Chemicals & Industries LimitedBHAGCHEMBHAGCHEM	₹3,063 Cr	₹3,294 Cr	₹607 Cr	₹79 Cr	10.7%	₹28 Cr	3.4%	4.8%	2.6%	148
Nacl Industries LimitedNACLINDNACLIND	₹3,054 Cr	₹3,355 Cr	₹1,519 Cr	₹106 Cr	6.5%	₹12 Cr	0.3%	11.8%	0.8%	105
Gsp Crop Science LimitedGSPCROPGSPCROP	₹2,113 Cr	₹2,373 Cr	₹1,517 Cr	₹185 Cr	12.2%	₹-3 Cr	6.2%	20.7%	-0.4%	121
Bharat Rasayan LimitedBHARATRASBHARATRAS	₹1,658 Cr	₹1,659 Cr	₹1,203 Cr	₹177 Cr	16%	₹140 Cr	11.7%	17.5%	12.1%	219
Insecticides (India) LimitedINSECTICIDINSECTICID	₹1,655 Cr	₹1,799 Cr	₹2,060 Cr	₹210 Cr	10.6%	₹125 Cr	6.5%	17.1%	12.1%	168
Astec Lifesciences LimitedASTECASTEC	₹1,580 Cr	₹2,029 Cr	₹441 Cr	₹6 Cr	-1%	₹-67 Cr	-18.1%	-9.3%	-25.9%	263

Date	Category	Subject	Filing
29 Sept 2026, 12:13 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
21 Sept 2026, 1:14 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
17 Sept 2026, 4:10 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
12 Sept 2026, 12:29 pm	Insider Trading / SAST Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011	PDF
10 Sept 2026, 7:55 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
26 Aug 2026, 1:47 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
20 Aug 2026, 6:54 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
20 Aug 2026, 6:40 pm	Others Outcome without intimation	Board Meeting Outcome for Outcome Of Board Meeting	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
	408	41	80	337	217	166
	-289	89	-51	-246	-162	-104
	-80	-104	-52	-74	-67	-61
Net cash flow	39	26	-23	17	-12	0
Free cash flow	—	—	—	—	74	10
CFO / Operating profit %	—	—	33.2%	129.9%	67.1%	60.5%

Rallis India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

26

1

1

Compounded sales growth

Compounded profit growth

Return on equity

Rallis India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Dividends26

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

26

1

1