ICICI Direct: Rallis India’s New Capex Likely To Aid Performance  
A farmer sprays fungicide in a field of rice on farmland near Sirsa, Haryana, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

ICICI Direct: Rallis India’s New Capex Likely To Aid Performance  

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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. 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.

Click on the attachment to read the full report:

ICICI Direct Rallis India Q2FY21 Result Update.pdf

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