ICICI Direct: Rallis India’s New Capex Likely To Aid Performance
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ICICI Direct Report
Rallis India Ltd. reported topline de-growth of 3% YoY to Rs 725 crore against our expectation of Rs 780 crore.
The topline performance remained below expectations owing to poor sales from the international market, which was down 29% YoY.
On the other hand, the domestic agrochemical business posted growth of 8% YoY while the seed business grew 29% YoY.
The company announced a capex of Rs 525-550 crore out of total capex envisaged of Rs 800 crore over the next five years.
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