Views on Rallis India Ltd 4QFY2016 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on Rallis India Ltd 4QFY2016 Results:

Rallis India Ltd (CMP: INR 194 / TP: / Upside):

"Rallis announced its 4QFY2016 results. The company posted a robust growth of 8.6% YoY, to end the period at INR 342cr, mainly driven by exports. On the operating front, the gross margins came in at 43.3% V/s 47.0% in 4QFY2015, which aided the OPM's to come at 10.4% V/s 12.3% in 4QFY2015. Thus PAT came in at INR 32cr V/s INR 21cr, posting a growth of 51.3% YoY. This came in spite of the contraction in the OPM, as the company posted a 55.4% YoY dip in the deprecation and 132.1% YoY growth in other income, which came in at INR 15cr V/s INR 6cr in 4QFY2015.We maintain our NEUTRAL rating on the stock."

Shares of RALLIS INDIA LTD. was last trading in BSE at Rs.194.5 as compared to the previous close of Rs. 195.55. The total number of shares traded during the day was 27740 in over 708 trades.

The stock hit an intraday high of Rs. 197.9 and intraday low of 193. The net turnover during the day was Rs. 5410073.

Source : Equity Bulls

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