Rallis India slips down

Rallis India is among the top five losers on the BSE since the opening bell today; from its close of Rs.340.65, it opened lower at Rs.325.10 and slipped to an intraday low at Rs.317.25. Its 52-week low is at Rs.205.15.

The stock is down as there is disappointment over the company’s Q1FY25 performance. This subsidiary of Tata Chemicals, reported a 24% (YoY) decline in PAT at Rs.48 crore on a flat growth on net revenue at Rs.783  crore.

Its Crop care segment delivered strong volume led revenue growth of 8%. Seeds revenue was down by 16% largely due to supply constraints.

Its Water Soluble Fertilizers (WSF) plant was commissioned during the quarter to support the Crop Nutrition Business.

The company said that it remains cautious about the export market and expects a gradual recovery during the year. Sentiments for the domestic market are positive with the recent monsoon pick-up. Seasonally, Q2 is always the best time of the year due to onset of monsoon.