Rallis India gets clobbered

Rallis India has been the top loser on the BSE since the opening bell today as the market is very disappointed with its Q4 earnings. The stock fell over 9% to Rs.255.25. Its 52-week low is at Rs.226.80.

The company, though reported a 8% (YoY) rise in consolidated revenue at Rs.508 crore, it ended the quarter with a net loss of Rs.14 crore v/s profit of Rs.8 crore.

Overall margins remained under pressure amid rising inflation. This was inspite of judicious price corrections undertaken by the Company keeping the end farmer interests and market conditions in mind.

Its seeds business de-grew by 13% since the addressable markets were affected across crops and seasons due to reasons like crop shift, state Govt. bans, illegal cotton seeds, etc.

Despite the losses, the Board has recommended a dividend of Rs 3 per share, or 300% for FY22.