Rallis India - Q2FY21 Results - Angel Broking

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

"Rallis India witnessed a quarter-ending with 3% decrease in revenues YoY, despite good domestic performance. Crop Care revenue grew by 8% YOY and Seeds by 29%. However, international revenues were under pressure, recording a decline of 29% due to product specific challenges. Pressure on Metribuzin in the international business continued in the second quarter on both the volume and the price front. EBITDA margins were stable. Profit before tax (before exceptional items) was at ₹108 Crs, with a growth of 3% YoY. Company highlighted that despite covid challenges, the capex program and focus on new product introduction remain on course. Collection focused initiatives have helped to continue strong performance on collections resulting in reduced working capital days to 65 from the previous year of 104 days for the Company. Results were below street expectations on all the important fronts of revenue, EBIDTA and PAT."

Shares of RALLIS INDIA LTD. was last trading in BSE at Rs.273.4 as compared to the previous close of Rs. 272.4. The total number of shares traded during the day was 31114 in over 1444 trades.

The stock hit an intraday high of Rs. 279.15 and intraday low of 270.3. The net turnover during the day was Rs. 8539106.

Source : Equity Bulls

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