Views on Rallis India 2QFY2016 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on Rallis India 2QFY2016 Results:

"Rallis India, posted a disappointing results for 2QFY2016. For 2QFY2016, the sales came in at INR 499.7cr V/s INR 635.9cr, a dip of 21.4% yoy. The main reasons for the dip in sales were the poor monsoons in India. The International market also faced pressure due to severe droughts in Brazil and low crop commodity prices along with higher inventory prices impacted consumption in the USA. On the operating front, the gross margins came in at 46.7% V/s 38.5% in 2QFY2015, which lead the OPM come in at 18.9% V/s 18.2% in 2QFY2015. This was on back of an 11% yoy and 5.0% yoy rise in the staff cost and other expenditure respectively. This aided the PAT come in at INR 57cr V/s INR 73cr in 2QFY2015, a yoy dip of 21.5%. We remain NEUTRAL on the stock."

Shares of RALLIS INDIA LTD. was last trading in BSE at Rs.206 as compared to the previous close of Rs. 211.05. The total number of shares traded during the day was 43346 in over 980 trades.

The stock hit an intraday high of Rs. 208.2 and intraday low of 201.2. The net turnover during the day was Rs. 8866138.

Source : Equity Bulls

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