BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Rallis India Ltd. is a leading agrochemical company with a presence across agri input chain and a strong, healthy pipeline of sustainable products.
Q3 FY22 numbers were largely in line with our estimates across all parameters. Revenues increased 10.1% to Rs 628.1 crore, led by 19% growth in the international market.
Rallis India's gross margins expanded 170 basis points YoY to ~40.2% while Ebitda margin improved 20 bps YoY to 10.7%, due to higher employee and other expenses.
Ebitda was up 12.1% YoY to Rs 67.4 crore. Profit after tax fell 3.8% YoY to Rs 39.6 crore owing to higher depreciation and lower other income.
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