Dolat Capital: Rallis India Q2 Earnings Below Estimates
A farmer walks round his farm where he is growing corn as an alternative to rice in Karnal district, Haryana. (Photographer: Prashanth Vishwanathan/Bloomberg)

Dolat Capital: Rallis India Q2 Earnings Below Estimates

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.

Dolat Capital Report

Rallis India Ltd.’s Q2 FY21 earnings print was below our estimates by 7.1% on sales and 21.2% on Ebitda.

Sales/Ebitda/profit after tax stood at Rs 7.25 billion/1.17 billion/830 million down by 3.2/1.6/3.3% YoY.

We had anticipated fall in sales of international business, however the reported fall was even steeper (down 29% YoY to Rs 1.54 billion) than our expectations.

Domestic business did report a decent growth by 8% YoY to Rs 4.86 billion, with seeds business growing at 29% YoY to Rs 730 million.

Click on the attachment to read the full report:

Dolat Capital Rallis India Q2FY21 Result Update.pdf

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