RALLIS INDIA LTD.

Rallis India Ltd announced its unaudited financial results for the second quarter and half year ended September 30, 2026. The Board of Directors approved these results at a meeting held today. The company also provided a limited review report along with the financial results, which are available on the company's website.

Rallis India Limited announced its financial results for the second quarter and half year ended September 30, 2026. In Q2 FY27, the company reported revenue of ₹858 crore, a slight decrease from ₹861 crore in Q2 FY26. Profit After Tax (PAT) stood at ₹85 crore, down from ₹102 crore in the same period last year. EBITDA was ₹126 crore, compared to ₹154 crore in Q2 FY26. For the half year ended September 2026, Rallis reported revenue of ₹1,880 crore, an increase of 3% from ₹1,818 crore in H1 FY26. EBITDA grew to ₹311 crore from ₹304 crore, and PAT increased by 6% to ₹210 crore from ₹197 crore in H1 FY26. The Crop Care business saw a 4% topline growth, driven by the B2B segment. The Soil & Plant Health business grew by 22%. Rallis launched four new products during the quarter. The company cited weather-related disruptions and delayed sowing as impacting market demand.

Rallis India's standalone Q2 FY27 (quarter ended September 30, 2026) print was weak on a year-on-year basis — the primary lens here, since the business is explicitly flagged as seasonal and monsoon/cropping-pattern dependent. Revenue from operations was effectively flat at ₹858 Cr versus ₹861 Cr a year ago (-0.3%), while net profit fell 16.7% YoY to ₹85 Cr from ₹102 Cr. The reported decline actually understates the underlying weakness: this quarter carried a ₹14 Cr exceptional gain (profit on sale of flats/freehold land) versus a smaller ₹6 Cr equivalent gain in the year-ago quarter. Stripping both one-offs out and applying each period's own effective tax rate, adjusted PAT works out to roughly ₹75 Cr versus ₹98 Cr a year ago — a ~23.6% adjusted YoY decline, meaningfully worse than the 16.7% reported figure. Sequentially, revenue fell 16.1% and PAT fell 32.0% from Q1 FY27's ₹1,022 Cr / ₹125 Cr, but Q1 (the kharif-season quarter) is seasonally the strongest for an agri-inputs business, so this QoQ drop is a seasonality artifact rather than a trend break and should not be read as fresh weakness. Margins compressed on both comparisons. Net profit margin (on total income) fell to 9.8% from 11.7% a year ago and 12.1% in Q1 FY27. On an EBITDA basis (revenue less operating costs, adding back depreciation and finance costs), margin fell to roughly 14.7% from ~17.9% YoY and ~18.1% QoQ — compression of 320-340bps either way. The squeeze sits mainly in cost of materials and stock-in-trade purchases, which rose faster than revenue even as the company unwound part of Q1's inventory build. Employee costs (₹69 Cr) also normalized upward from Q1's unusually low ₹52 Cr, which had benefited from a one-time ₹35 Cr reversal of performance-incentive and retiral provisions tied to salary-structure harmonisation — a reversal that did not recur in Q2, flattering the QoQ margin base further. Management's July 2026 guidance had called for FY27 agrochemical industry growth of 6-8% and seeds growth in the mid-to-high single digits, with margins "stable-to-soft" and volume recovery contingent on monsoon quality and limited mid-season pricing power. This quarter's flat revenue and 320-390bps margin compression sit below that growth guidance and at the weak end of the margin call, so the print reads as a miss against management's own framing. It also missed Rallis's own pre-result preview, which had expected revenue of ₹900-950 Cr, PAT of ₹100-110 Cr and EBITDA margin of 17-18% — actuals of ₹858 Cr, ₹85 Cr and ~14.7% landed below every band. No verified third-party consensus estimate specific to this quarter could be confirmed via web search; the Street's pre-result stance was already cautious-to-mixed per our preview (price targets spanning ₹179-369 with a split hold/sell/buy rating mix), and this result gives no reason to resolve that disagreement toward the bullish end. Two governance-side items intersect with the quarter without being drivers of the P&L: the review was conducted by BSR & Co LLP, the company's newly appointed statutory auditor (appointed July 27, 2026), which issued an unmodified limited-review conclusion — the first filing under the new firm. SBI Mutual Fund's sale of a 2% stake (September 12) adds a supply overhang, alongside the CFO transition completing November 4, 2026. No management press release or concall commentary was available in our records for this filing to cross-check against the reported numbers.

Rallis India Ltd has announced that its Board of Directors will convene on October 22, 2026. The primary agenda item for this meeting is to consider and approve the Unaudited Financial Results for the second quarter and the half-year ended September 30, 2026. Additionally, the company has informed its Designated Persons about the closure of the trading window from September 24, 2026, to October 24, 2026, in compliance with SEBI regulations.

Rallis India Limited has announced the closure of its trading window for dealing in the company's securities. This closure is in accordance with the 'Tata Code of Conduct for Prevention of Insider Trading'. The window will be shut from Thursday, September 24, 2026, and will reopen 48 hours after the conclusion of the Board of Directors' meeting. This meeting is scheduled to consider the Unaudited Financial Results for the second quarter and half year ending September 30, 2026. The exact date of the board meeting will be communicated later. The company has also made this information available on its website.

SBI Mutual Fund, through its various schemes, has reduced its shareholding in Rallis India Ltd by approximately 2%. The fund sold 7,854,158 shares, representing 0.0278% of the paid-up share capital. Following the sale, SBI Mutual Fund's final holding as of September 10, 2026, stands at 9,932,327 shares, equating to 5.1074% of the company's paid-up share capital. This disclosure is made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.

Rallis India Ltd announced that its Board of Directors has agreed to relieve Mr. Bhaskar Swaminathan from his services as Chief Financial Officer (CFO) effective November 4, 2026. This change is due to Mr. Swaminathan joining another Tata Company. Concurrently, the Board has appointed Mr. Sridhar Radhakrishnan as the new CFO, also effective November 4, 2026, based on recommendations from the Nomination and Remuneration Committee and the Audit Committee. Mr. Radhakrishnan brings over 21 years of finance experience within the Tata Group.

Rallis India Ltd announced a significant management change following a Board of Directors meeting. Mr. Bhaskar Swaminathan has been relieved from his services as Chief Financial Officer (CFO) effective November 4, 2026, as he is joining another Tata company. Concurrently, Mr. Sridhar Radhakrishnan has been appointed as the new CFO, also effective November 4, 2026. The appointment follows recommendations from the Nomination and Remuneration Committee and the Audit Committee. Mr. Radhakrishnan brings over 21 years of finance experience across various industries within the Tata Group.

Rallis India Ltd has announced the appointment of S R B C & CO LLP as its new Statutory Auditors. This decision was approved by the Board of Directors via Circular Resolution on July 27, 2026, following a recommendation from the Audit Committee. S R B C & CO LLP will serve for a period of five consecutive years, commencing from the conclusion of the 79th Annual General Meeting (AGM) in 2027 until the conclusion of the 84th AGM in 2032, subject to shareholder approval. The current auditors, B S R & Co. LLP, will continue their duties until the conclusion of the 79th AGM in 2027, completing their second five-year term. S R B C & CO LLP is a chartered accountancy firm registered with ICAI and is part of the S. R. Batliboi & Affiliates network.

Rallis India Limited announced that Ms. Padmini Khare Kaicker and Dr. C.V. Natraj have completed their second consecutive term as Independent Directors. Their tenure concluded on July 21, 2026, and they have ceased to be directors effective July 22, 2026. This change is in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided details of this change as per regulatory requirements and made the information available on its website.