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Rallis India Ltd

| Audited Financial Results for the Quarter and Year Ended March 31, 2026

Report Source

⬤27th Apr 26

Summary : Rallis India reported strong FY26 results and recommended dividend, but Q4 showed a loss.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Cost of materials consumed FY26: 1,579 Cr (FY25: 1,302 Cr).
  2. Employee benefits expense FY26: 283 Cr (FY25: 275 Cr).
  3. Other expenses FY26: 526 Cr (FY25: 521 Cr).
  4. Total Revenue from Operations FY26: 2,897 Cr (FY25: 2,663 Cr).
  5. Agri-Inputs Revenue FY26: 2,876 Cr (FY25: 2,629 Cr).
  6. Other Revenue FY26: 21 Cr (FY25: 34 Cr).
  7. Net Cash from Operating Activities FY26: 172 Cr (FY25: 295 Cr).
  8. Net Cash Used in Investing Activities FY26: (214) Cr (FY25: (95) Cr).
  9. Net Cash Used in Financing Activities FY26: (66) Cr (FY25: (80) Cr).
  10. Net Increase in Cash and Cash Equivalents FY26: 11 Cr (FY25: 1 Cr).
  11. Total Assets FY26: 3,345 Cr (FY25: 2,974 Cr).
  12. Total Equity FY26: 2,043 Cr (FY25: 1,904 Cr).
  13. Total Liabilities FY26: 1,302 Cr (FY25: 1,070 Cr).
  14. Inventories FY26: 959 Cr (FY25: 751 Cr).
  15. Trade Receivables FY26: 616 Cr (FY25: 541 Cr).
  16. Standalone results, as the company has no subsidiaries, associates, or joint ventures.

Corporate Overview

  1. Seasonal nature of business, susceptible to weather and cropping patterns.
  2. Assessing and managing impact of new Labour Codes.
  3. Seasonal business, impacted by weather conditions
  4. Performance can be impacted by cropping pattern
  5. Agri-Inputs
  6. Formal and factual, announcing financial results and dividend recommendation.
  7. Agri-Inputs
  8. Others

Risk Factors

  1. Business is seasonal, weather dependent.
  2. Impact from new labor codes.
  3. Q4 showed a loss before tax.
  4. Reduced operating cash flow year-on-year.

Key Drivers

  1. Strong full-year revenue and profit growth.
  2. Recommended dividend of Rs. 3 per share.
  3. Unmodified audit opinion builds confidence.

Auditor’s Report

  1. Unmodified Opinion

Board Commentary

  1. Gyanendra Shukla is the Managing Director & CEO.
  2. Recommended dividend of Rs. 3 per share (300%) for FY 2025-26.
  3. Business is seasonal, impacted by weather conditions and cropping pattern.
  4. Incremental impact of new Labour Codes on financial results.
  5. Impact of new Labour Codes (Code on Wages, Industrial Relations, Social Security, Occupational Safety, Health and Working Conditions) on financial results.

Management Discussion & Analysis

Operational Focus Areas

  1. Monitoring finalisation of Central/State Rules for Labour Codes.

Performance Drivers

  1. Increased revenue from operations for the full financial year.
  2. Growth in profit before tax and net profit for the full financial year.

Risk Control Measures

  1. Assessed and disclosed incremental impact of Labour Code changes.
  2. Monitoring finalisation of Labour Code rules and clarifications.

Critical Risks

  1. Business seasonality and dependence on weather/cropping patterns.
  2. Uncertainty regarding final impact of new Labour Codes.