Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹5,171Cr
Rev Gr TTM
Revenue Growth TTM
8.79%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

RALLIS
VS
| Quarter | Jun 2023 | Sep 2023 | Dec 2023 | Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -9.4 | -12.5 | -5.1 | -16.6 | 0.1 | 11.5 | -12.7 | -1.4 | 22.2 | -7.2 | 19.4 | 6.0 |
| 672 | 699 | 536 | 430 | 687 | 762 | 478 | 450 | 807 | 707 | 565 | 457 |
Operating Profit Operating ProfitCr |
| 14.1 | 16.0 | 10.4 | 1.4 | 12.3 | 17.9 | 8.4 | -4.7 | 15.7 | 17.9 | 9.3 | -0.2 |
Other Income Other IncomeCr | 3 | 6 | 2 | 6 | 5 | 10 | 6 | 12 | 12 | 16 | -26 | 14 |
Interest Expense Interest ExpenseCr | 3 | 3 | 4 | 8 | 5 | 3 | 2 | 2 | 4 | 3 | 2 | 1 |
Depreciation DepreciationCr | 25 | 26 | 30 | 33 | 31 | 30 | 29 | 30 | 29 | 30 | 29 | 29 |
| 85 | 110 | 30 | -29 | 65 | 143 | 19 | -40 | 129 | 137 | 1 | -17 |
| 22 | 28 | 6 | -8 | 17 | 45 | 8 | -8 | 34 | 35 | -1 | -2 |
|
Growth YoY PAT Growth YoY% | -6.0 | 13.9 | 9.1 | 69.6 | -23.8 | 19.5 | -54.2 | -52.4 | 97.9 | 4.1 | -81.8 | 53.1 |
| 8.1 | 9.9 | 4.0 | -4.8 | 6.1 | 10.6 | 2.1 | -7.4 | 9.9 | 11.8 | 0.3 | -3.3 |
| 3.3 | 4.2 | 1.3 | -1.1 | 2.5 | 5.0 | 0.6 | -1.7 | 4.9 | 5.2 | 0.1 | -0.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|
|
| | -14.8 | 7.6 | 8.1 | 32.4 | 13.5 | 7.9 | 7.2 | 13.9 | -10.7 | 0.6 | 8.8 |
| 1,258 | 1,082 | 1,150 | 1,272 | 1,744 | 1,990 | 2,106 | 2,330 | 2,749 | 2,337 | 2,376 | 2,536 |
Operating Profit Operating ProfitCr |
| 16.8 | 16.0 | 17.0 | 15.1 | 12.1 | 11.6 | 13.3 | 10.5 | 7.4 | 11.8 | 10.8 | 12.5 |
Other Income Other IncomeCr | 2 | 5 | 169 | 9 | 31 | 46 | 50 | 27 | 13 | 16 | 33 | |
Interest Expense Interest ExpenseCr | 5 | 8 | 3 | 3 | 5 | 6 | 5 | 5 | 12 | 18 | 12 | 10 |
Depreciation DepreciationCr | 45 | 38 | 42 | 41 | 46 | 62 | 64 | 74 | 91 | 114 | 120 | 117 |
| 206 | 165 | 359 | 191 | 219 | 239 | 304 | 222 | 128 | 196 | 187 | 250 |
| 60 | 39 | 93 | 50 | 64 | 54 | 75 | 58 | 36 | 48 | 62 | 66 |
|
| | -13.2 | 110.9 | -46.8 | 9.0 | 20.3 | 23.3 | -28.2 | -44.0 | 60.8 | -15.4 | 47.0 |
| 9.6 | 9.8 | 19.2 | 9.4 | 7.8 | 8.2 | 9.4 | 6.3 | 3.1 | 5.6 | 4.7 | 6.3 |
| 7.5 | 6.5 | 13.7 | 7.3 | 7.8 | 9.5 | 11.8 | 8.4 | 4.7 | 7.6 | 6.4 | 9.5 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|
Equity Capital Equity CapitalCr | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| 779 | 899 | 1,106 | 1,159 | 1,266 | 1,391 | 1,572 | 1,677 | 1,711 | 1,810 | 1,885 | 2,024 |
Current Liabilities Current LiabilitiesCr | 361 | 318 | 339 | 482 | 814 | 957 | 914 | 1,077 | 989 | 1,018 | 969 | 1,224 |
Non Current Liabilities Non Current LiabilitiesCr | 73 | 73 | 86 | 73 | 60 | 80 | 82 | 85 | 79 | 156 | 102 | 78 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 512 | 501 | 748 | 949 | 1,410 | 1,613 | 1,654 | 1,794 | 1,644 | 1,780 | 1,866 | 2,309 |
Non Current Assets Non Current AssetsCr | 721 | 809 | 803 | 785 | 749 | 834 | 933 | 1,064 | 1,153 | 1,223 | 1,109 | 1,036 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|
Operating Cash Flow Operating Cash FlowCr | -5 | 79 | 338 | 216 | 166 | 217 | 269 | 295 | 172 |
Investing Cash Flow Investing Cash FlowCr | 95 | -51 | -246 | -162 | -103 | -142 | -102 | -214 | -95 |
Financing Cash Flow Financing Cash FlowCr | -92 | -52 | -74 | -67 | -61 | -41 | -184 | -80 | -66 |
|
Free Cash Flow Free Cash FlowCr | -52 | 51 | 289 | 84 | 14 | 49 | 201 | 230 | |
| -3.5 | 51.3 | 182.2 | 94.6 | 101.0 | 235.8 | 182.0 | 235.8 | 93.5 |
CFO To EBITDA CFO To EBITDA% | -2.2 | 33.1 | 129.4 | 67.0 | 60.5 | 99.3 | 86.5 | 102.9 | 47.6 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 4,401 | 3,304 | 5,078 | 4,600 | 3,211 | 3,415 | 4,918 | 4,627 | 3,749 | 4,872 | 4,173 | 4,235 |
Price To Earnings Price To Earnings | 32.4 | 26.2 | 19.1 | 32.5 | 20.8 | 18.4 | 21.5 | 28.2 | 40.8 | 33.0 | 33.4 | 23.0 |
Price To Sales Price To Sales | 2.9 | 2.6 | 3.7 | 3.1 | 1.6 | 1.5 | 2.0 | 1.8 | 1.3 | 1.8 | 1.6 | 1.5 |
Price To Book Price To Book | 5.5 | 3.6 | 4.5 | 3.9 | 2.5 | 2.4 | 3.1 | 2.7 | 2.2 | 2.7 | 2.2 | 2.1 |
| 17.6 | 16.1 | 21.6 | 20.4 | 13.5 | 13.2 | 15.3 | 17.0 | 17.6 | 16.0 | 14.7 | 11.6 |
Profitability Ratios Profitability Ratios |
| 41.5 | 42.8 | 42.6 | 42.1 | 41.0 | 38.3 | 39.3 | 37.6 | 34.5 | 40.4 | 40.6 | 40.4 |
| 16.8 | 16.0 | 17.0 | 15.1 | 12.1 | 11.6 | 13.3 | 10.5 | 7.4 | 11.8 | 10.8 | 12.5 |
| 9.6 | 9.8 | 19.2 | 9.4 | 7.8 | 8.2 | 9.4 | 6.3 | 3.1 | 5.6 | 4.7 | 6.3 |
| 24.5 | 18.4 | 31.6 | 16.3 | 16.5 | 16.4 | 18.5 | 12.7 | 7.5 | 10.9 | 10.1 | 12.7 |
| 18.2 | 13.7 | 23.6 | 12.0 | 12.0 | 13.2 | 14.4 | 9.7 | 5.3 | 8.1 | 6.6 | 9.0 |
| 11.8 | 9.6 | 17.2 | 8.2 | 7.1 | 7.6 | 8.8 | 5.8 | 3.3 | 4.9 | 4.2 | 5.5 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Company Overview**
**Rallis India Limited**, a subsidiary of **Tata Chemicals** and part of the **US$165 billion Tata Group**, is a leading agri-science company in India with over **77 years of experience** serving rural markets. Established on a legacy of deep agricultural understanding, Rallis operates across the entire agri-input value chain—research, manufacturing, distribution, and farmer engagement—to deliver science-based solutions in **Crop Care**, **Soil & Plant Health (SPH)**, and **Seeds**.
The company is recognized for its **innovative product development**, **robust manufacturing capabilities**, and **extensive distribution network**, making it a preferred partner for multinational agrochemical firms in contract manufacturing and product development.
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### **Core Business Segments**
1. **Crop Care**
- **Crop Protection**: Offers herbicides, insecticides, and fungicides in both **domestic (B2C)** and **international (B2B)** markets.
- **Crop Nutrition**: Focuses on non-subsidized fertilizers, including **bio-fertilizers, bio-pesticides, bio-stimulants, water-soluble fertilizers, organic manures (e.g., GeoGreen®)**, and **micronutrients (e.g., Nayazinc®)**.
- **Geographic Reach**: Products are exported to **over 70 countries**, with key markets including the **U.S., Brazil, China, Bangladesh, France, and Malaysia**.
2. **Seeds**
- Operates under the **Dhaanya** brand, one of India’s fastest-growing seed brands.
- Key crops: **Cotton, Paddy, Maize, Bajra, Mustard, and Vegetables** (Tomato, Chilli, Gourds, Okra).
- Notable success with **Diggaz Cotton Hybrid**, a high-yield, early-maturing variety with strong pest tolerance, driving significant market share in North India.
- Collaborates with over **28,000 farmers across 10 states** for seed production.
3. **Soil & Plant Health (SPH/Biologicals)**
- Launched **NuCode™** in Nov 2025—a new brand of science-based biological solutions representing a strategic shift toward **regenerative and sustainable agriculture**.
- NuCode™ includes **bio-fertilizers, bio-stimulants, and bio-pesticides**, organized into **systematic solution sets** to reduce chemical input reliance.
- Previous traction in SPH through **GEOGREEN®**, India's only patented enriched organic manure.
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### **Strategic Initiatives & Growth Drivers (as of Nov 2025)**
- **NuCode™ Launch (Nov 2025)**
A milestone in Rallis’ sustainability journey, NuCode™ stands for **“Nutrition Code”** and targets modern, **framework-based biological farming**. It aligns with global and domestic trends toward climate-resilient agriculture and supports India’s **chemical-farming-to-regenerative-agri transition**.
- **FullPage® & Dhanya Rice Hybrids Partnership**
Strategic collaboration with **Paryan** to promote **FullPage® technology**—a system that modernizes rice cultivation by reducing water use, labor dependency, and weed management issues. Combined with **Dhanya rice hybrids**, this enhances **farming efficiency, sustainability, and profitability**.
- **Digital Transformation & Analytics**
Rallis leverages AI and ML to enhance decision-making and operational efficiency through platforms such as:
- **SeedSay**: AI-powered demand forecasting and product placement in seeds business.
- **Drishti 2.0**: Satellite-based remote sensing (including **Synthetic Aperture Radar - SAR**) to detect plant stress and forecast pest outbreaks.
- **SeedSure**: NABL-accredited digital tracking system for hybrid seed quality monitoring.
- **Anubandh Edge**: Unified digital platform for retailer engagement, sales transparency, and loyalty tracking.
- **e-Bandhan & e-Sparsh**: CRM tools for distributor and sales team management.
- **Enterprise WhatsApp Chatbot**: 24/7 multilingual support (10 Indian languages) for farmers.
- **Expansion in Biologicals & Specialty Solutions (BSS)**
- BSS is a key growth pillar, with new launches like **Aquafert Vegetable, Consorich N,P,K, and Ralli Neem 1500**.
- Emphasis on **peptide- and enzyme-based bio-solutions** to meet rising demand for eco-friendly inputs.
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### **Manufacturing & Innovation Infrastructure**
- **Five owned crop care manufacturing facilities** in:
- **Maharashtra**: Akola, Lote
- **Gujarat**: Ankaleshwar, Dahej (CZ & SEZ)
- **Two dedicated seed processing plants**: Kokkonda (owned), GP Pally & Medchal (third-party).
- **Nine third-party manufacturing partners** under full supervision.
- **NABL-accredited QA labs** at all manufacturing sites.
- **State-of-the-art R&D centers in Bengaluru**:
- **Rallis Innovation Chemistry Hub (RICH)**: Focuses on green chemistry, advanced formulations (e.g., Zeon Capsule Suspension), and CSM development.
- **Agri-Biotech Centre**: Develops GM traits for insect resistance, herbicide tolerance, and drought resilience in crops like maize and cotton.
**Process Innovation**: Transitioned critical **nitration process at Dahej to continuous (CSTR) mode**, reducing energy use by 35%, improving safety, quality, and throughput.
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### **R&D & Innovation**
- **Focus Areas**:
- Green chemistry, flow chemistry, fluorination.
- Genetic Male Sterility (GMS) in cotton.
- Doubled haploidy, gene editing, genomic selection in seeds.
- Development of **off-patent molecule combinations**, **novel adjuvants**, and **drone-compatible formulations**.
- **Partnerships**:
- Collaborates with **ICAR, State Agricultural Universities, CGIAR**, and global biotech firms (e.g., **Bio-Gene Technology** for **Flavocide®**, a nature-identical bio-insecticide with novel MoA).
- Engaged in **co-development projects** to access new molecules and accelerate innovation.
- **IP & Product Launches**:
- Launched **8 new products in FY25** (e.g., cotton, rice, maize hybrids; herbicides, fungicides).
- **Innovation Turnover Index** in high teens—>15% of revenue from recent launches.
- 2025’s **LAAFA** herbicide (non-selective, broad-spectrum) and **Zaafu** (granular fungicide for paddy) show strong initial traction.
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### **Distribution & Market Presence**
- **Nationwide Reach**:
- Serves **80% of India’s districts** via **7,000+ dealers** and **100,000+ retailers**.
- Engages with **3 million farmers (Crop Care)** and **4 million (Seeds)** annually.
- **Farmer-Centric Programs**:
- **Dhaanya Progressive Farmer Initiative**: Early access to new seed launches, field demonstrations.
- **Rallis Samrudh Krishi (RSK)**: Seasonal crop solution packages.
- Conducts **field days, PDA trials, focus group discussions**, and **village-level meetings** for adoption support.
- **Farmer Engagement Tools**:
- **Rallis Krishi Samadhan App** – Provides real-time advice in 10 languages.
- **Dr. Vishwas Helpline** and **Sampark App** for advisory and data collection.
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### **Exports & Contract Manufacturing (CSM)**
- **Global Exports**:
- Serves **70+ countries**, offering **technical-grade active ingredients, bulk/small-pack formulations, and custom synthesis & manufacturing (CSM)**.
- **US Business**: 85% technical supply (tariff-resilient); 15% formulation exports (tariff-affected).
- Key products: **Metribuzin, Pendimethalin, Hexaconazole (global leader), Acephate, Metalaxyl-M**.
- **CSM Leadership**:
- Recognized for **formulation expertise, EHS compliance, and process development**.
- Gaining traction in **Latin America, Africa, and ASEAN**.
- Expanding capacity at **Dahej SEZ Multi-Purpose Plant (MPP)** to support CSM partners.
- Strategic **“China+1” sourcing shift** benefits Rallis as global players seek Indian manufacturing partners.
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### **Financial & Operational Highlights**
| **KPI** | **Details** |
|--------|-----------|
| **Revenue Mix (Est.)** | Domestic ~60%, International ~40% (target) |
| **Market Coverage** | 80% of Indian districts |
| **R&D Investment** | ₹34–40 crore annually; 5–10 year innovation pipeline |
| **Export Customers** | 200+ product registrations; 75+ B2B clients |
| **Innovation Centers** | RICH & Agri-Biotech Centre, Bengaluru |
| **Sustainability Goals** | “30 by 30” EHS initiative: 30% carbon reduction by 2030 |
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### **Strategic Vision (FY2025–2026)**
- **Domestic Focus**: Strengthen **herbicides, Seeds, and SPH** segments; increase **formulation and B2C margins**.
- **International Expansion**: Grow **CSM and catalogue exports**; target **Europe, Africa, LATAM** via new registrations.
- **Portfolio Optimization**: Phase out low-margin products; focus on **differentiated, higher-margin offerings**.
- **Digital Integration**: Deepen **farmer and retailer digital engagement** through AI, remote sensing, and mobile platforms.
- **Sustainability Leadership**: Position **NuCode™** and **GEOGREEN®** as flagship sustainable solutions.
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