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Revenue
₹456 Cr
verification pending
Revenue YoY
6%
reported change
EBITDA
₹-1 Cr
latest reported figure
Source
manual review required
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Rallis India reported a mixed Q4 FY26 with revenue of ₹456 crore (+6% YoY) and PAT of -₹5 crore (improved 52% YoY). The quarter was impacted by a short rabi season and geopolitical disruptions, but the company benefited from volume growth in B2C (14% volume growth) and strong performance in seeds (+23% YoY) and soil/plant health (+27% YoY). Management highlighted a 15-25% cost increase due to the Iran war and expects to pass through most of it via price hikes, though the full impact will depend on monsoon distribution and competitive dynamics. The company is focusing on high-margin segments like herbicides and biologicals, and expects high double-digit growth in seeds for FY27. Key risks include a below-normal monsoon (90% of LPA) and potential demand downtrading by farmers. Overall, the outlook is cautiously optimistic with margin pressure expected to persist.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects high double-digit revenue growth in seeds, driven by volume and price, with cotton, maize, and rice as key crops.
- Rallis plans to pass on 15-25% cost increases through price hikes, though the extent depends on competitive dynamics and monsoon.
- Revenue growth in crop protection is expected to be double-digit due to price increases, but margin outlook is stable to soft.
Risks flagged
- Monsoon forecast at 90% of LPA with potential erratic distribution could reduce demand for herbicides and insecticides by 5-10%.
- Despite 15-25% cost increases, the ability to fully pass through to farmers is uncertain due to competitive pressures and potential downtrading.
- If the Iran war ends and crude prices fall, Rallis could be left with high-cost inventory, though management claims calibrated buying.
- SF8 molecule faces supply competition from raw material suppliers who also compete in US markets, pressuring margins.
Key quotes
- We are one of the first ones to announce price increase because we cannot absorb all the cost.
- I think inventory has come to normal level. I mean 2 years ago this whole industry was suffering from lot of inventory hangover. I think that has reached to a normal level now.
- We are not building inventory beyond kharif... we are very calibrated about what we buy what we sell we'll only buy what we can sell.
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