Rallis India Ltd: Buy Rallis India, target price Rs 330: Emkay Research

Research has a buy call on Rallis India with a target price of Rs 330. The current market price of Rallis India is Rs 280.05.

Rallis India Ltd, incorporated in the year 1948, is a Mid Cap company with a market cap of Rs 5445.13 Crore, operating in Pesticides/Agro Chemicals sector.

Rallis India’s key Products/Revenue Segments include Agri inputs, Other Operating Revenue, Sale of services for the year ending 31-Mar-2020.

Investment Rationale

Emaky Research said, over the last two years, Rallis India has improved its product portfolio in the domestic business, expanded in the international business and increased own registration in the international markets, which should aid revenue growth over FY22-23E.

Financials

For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 479.27 Crore, down 17.10 per cent from last quarter’s Total Income of Rs 578.11 Crore and up 34.71 per cent from last year same quarter’s Total Income of Rs 355.79 Crore. Company has reported net profit after tax of Rs 8.12 Crore in Dec quarter.

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