RALLIS INDIA LTD

Manufactures and markets crop protection products (insecticides, herbicides, fungicides) and seeds for Indian agriculture. In FY26 the Agri Inputs segment generated Rs 2,876 cr (99.3% of revenue), with the remainder from 'Others' at Rs 21 cr. In Q1 FY27, revenue of Rs 1,022 cr split into Crop Care at Rs 697 cr (Domestic B2C +19% on 15% volume growth, Exports −28% on Chinese pricing pressure in acephate, pendimethalin and hexaconazole, CSM contract manufacturing +191%) and Seeds at Rs 325 cr (+6%), with Soil and Plant Health also up 10%. The seeds portfolio is being narrowed to five strategic crops — Cotton, Maize, Millet, Mustard and Rice — to offset weakness in cotton, where acreage is down 35% year-on-year. The company launched 4 new crop care products and 9 new seed varieties in the quarter, and its Anubandh Edge retailer network has crossed 56,000 registrations. Materials account for 54.5% of revenue, the largest cost line. Management has guided to 15%+ EBITDA margin consistently and 500 bps margin expansion over five years.