India · Delayed Price · Currency is INR Rallis India Earnings Call Transcripts
Fiscal Year 2026
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Q4 and FY 2026 saw revenue and profitability improve year-over-year, driven by strong growth in Crop Care, Seeds, and Soil & Plant Health, despite global supply chain disruptions and cost inflation. Strategic product launches, digital initiatives, and disciplined inventory management supported resilience.
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Q3 FY26 saw 19% revenue growth and 29% higher EBITDA, but PAT fell due to a one-time gratuity provision. Exports, seeds, and soil & plant health segments posted strong growth, while price pressures and regulatory changes remain key risks.
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Q2 FY26 revenue declined 7% year-over-year to INR 861 crore, with export revenue up 33% and seed segment up 29%. Margins improved due to product mix, while excessive rainfall and regulatory changes impacted domestic performance. Positive outlook for rabi season and continued export growth.
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Q1 FY26 delivered strong revenue and profit growth, led by robust performance in crop care and seeds, with exports and new product launches contributing significantly. Management remains optimistic on medium-term growth, focusing on margin improvement and operational efficiency.
Fiscal Year 2025
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Q4 revenue declined 1% YoY to INR 430 crore, with PAT at minus INR 32 crore. Crop care B2C and exports showed volume growth, while new product launches and favorable monsoon forecasts support a positive outlook. FY26 CAPEX will focus on solar and R&D.
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Q3 revenue declined 13% year-over-year due to a 38% drop in exports, while domestic volumes grew despite pricing pressure. Gross margin improved by 300-350 bps, and portfolio rationalization is expected to benefit future quarters.
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Q2 FY25 delivered strong revenue and profit growth, led by domestic crop care and seeds, while exports remained pressured by global oversupply and pricing. Digital tools and portfolio optimization improved efficiency and reduced returns.
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Q1 FY25 saw flat revenue at INR 783 crore, with 9% volume growth offset by price declines, especially in exports. EBITDA fell 13% to INR 96 crore, while domestic crop care and crop nutrition grew strongly. International business remains challenged by price pressure, but digital and product initiatives support a positive medium-term outlook.