Rallis India Ltd

Rallis India Ltd

₹ 268 0.32%
24 May - close price
About

Rallis India, a Tata Group company Group Co., has a history of over 150 years. The company is into manufacturing of Agrochemicals and is present across the value chain of agriculture inputs - from seeds to organic plant growth nutrients. Rallis is also in the business of contract manufacturing for global corporations. [1]

Key Points

Parentage[1]
Managerial and operational support from TATA Chemicals Ltd (TCL) continues to benefit the company. TCL is engaged in manufacturing of soda ash, sodium bicarbonate, caustic soda and bromides. Rallis is strategically important for TCL as it is the only group company catering to agrochemical space. Further, it might be noted that TATA chemicals recently increased stake in Rallis India to 55.05% in July 2023 from 50.06% earlier further reiterating Rallis’ strategic importance to the group. In FY10, Rallis became a subsidiary of TCL; earlier, it was jointly owned by multiple Tata group companies.

  • Market Cap 5,202 Cr.
  • Current Price 268
  • High / Low 294 / 188
  • Stock P/E 35.3
  • Book Value 94.0
  • Dividend Yield 0.00 %
  • ROCE 11.1 %
  • ROE 8.27 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 40.2%

Cons

  • Stock is trading at 2.84 times its book value
  • The company has delivered a poor sales growth of 5.95% over past five years.
  • Company has a low return on equity of 7.93% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
471 741 728 628 508 863 951 630 523 782 832 598 436
453 619 640 561 510 750 834 577 587 672 699 536 430
Operating Profit 18 122 88 67 -3 113 117 53 -64 110 133 62 6
OPM % 4% 16% 12% 11% -1% 13% 12% 8% -12% 14% 16% 10% 1%
10 7 7 5 7 5 2 2 4 3 6 2 6
Interest 1 1 1 1 1 2 2 3 5 3 3 4 8
Depreciation 15 18 18 18 20 25 22 22 23 25 26 30 33
Profit before tax 12 109 76 53 -16 91 95 30 -88 85 110 30 -29
Tax % 30% 24% 26% 25% 13% 26% 24% 27% 22% 26% 25% 20% 28%
8 82 56 40 -14 67 72 22 -69 63 82 24 -21
EPS in Rs 0.42 4.24 2.90 2.03 -0.73 3.45 3.70 1.13 -3.55 3.24 4.22 1.23 -1.08
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,315 1,519 1,493 1,288 1,386 1,498 1,984 2,252 2,429 2,604 2,967 2,648
1,110 1,269 1,237 1,079 1,148 1,270 1,741 1,987 2,104 2,323 2,746 2,337
Operating Profit 205 250 255 209 238 228 243 265 325 281 221 311
OPM % 16% 16% 17% 16% 17% 15% 12% 12% 13% 11% 7% 12%
11 6 2 5 168 9 30 46 49 22 13 17
Interest 15 10 7 10 4 6 8 10 7 7 14 18
Depreciation 29 36 45 38 42 41 46 62 64 74 91 114
Profit before tax 173 209 206 165 359 191 219 239 304 222 128 196
Tax % 31% 30% 29% 24% 26% 26% 29% 22% 25% 26% 28% 24%
119 146 145 126 266 141 154 185 229 164 92 148
EPS in Rs 6.14 7.53 7.48 6.49 13.68 7.28 7.93 9.54 11.76 8.45 4.73 7.61
Dividend Payout % 37% 32% 33% 39% 27% 34% 32% 26% 26% 36% 53% 32%
Compounded Sales Growth
10 Years: 6%
5 Years: 6%
3 Years: 3%
TTM: -11%
Compounded Profit Growth
10 Years: 0%
5 Years: -1%
3 Years: -13%
TTM: 60%
Stock Price CAGR
10 Years: 4%
5 Years: 11%
3 Years: -4%
1 Year: 39%
Return on Equity
10 Years: 12%
5 Years: 10%
3 Years: 8%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 19 19 19 19 19 19 19 19 19 19 19 19
Reserves 602 694 779 899 1,106 1,159 1,266 1,391 1,572 1,677 1,711 1,810
84 40 75 36 22 21 73 94 76 93 137 133
361 384 359 356 404 533 801 944 920 1,069 931 1,041
Total Liabilities 1,066 1,137 1,232 1,310 1,551 1,733 2,159 2,447 2,587 2,858 2,798 3,003
372 395 373 342 350 351 581 593 631 771 758 1,050
CWIP 27 13 14 24 23 25 51 76 164 130 237 19
Investments 193 219 232 305 534 390 109 302 283 212 223 251
474 510 614 639 644 968 1,419 1,476 1,508 1,745 1,580 1,683
Total Assets 1,066 1,137 1,232 1,310 1,551 1,733 2,159 2,447 2,587 2,858 2,798 3,003

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
147 155 64 218 353 -5 79 338 216 166 217 269
-39 -65 -42 -134 -275 95 -51 -246 -162 -103 -142 -102
-94 -105 -24 -52 -74 -92 -52 -74 -67 -61 -41 -184
Net Cash Flow 14 -15 -2 32 3 -1 -23 18 -13 1 34 -17

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 40 33 50 52 59 89 82 73 61 63 61 80
Inventory Days 88 99 114 128 121 170 224 193 200 227 158 187
Days Payable 99 101 85 95 113 167 178 176 156 182 117 139
Cash Conversion Cycle 29 32 80 85 68 92 129 90 105 107 102 128
Working Capital Days -3 16 46 51 51 93 92 60 67 72 62 103
ROCE % 26% 30% 26% 19% 20% 17% 18% 17% 19% 14% 8%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
50.09% 50.09% 50.09% 50.09% 50.09% 50.09% 50.09% 50.09% 50.09% 55.08% 55.08% 55.08%
7.12% 6.56% 6.03% 6.08% 6.02% 6.01% 7.00% 7.09% 7.69% 8.23% 9.21% 9.20%
17.34% 16.19% 16.41% 16.07% 15.16% 15.27% 14.87% 14.47% 13.51% 14.44% 12.83% 12.77%
0.41% 0.41% 0.41% 0.41% 0.41% 0.41% 0.41% 0.41% 0.41% 0.41% 0.41% 0.41%
25.04% 26.75% 27.06% 27.35% 28.32% 28.20% 27.63% 27.92% 28.28% 21.84% 22.45% 22.54%
No. of Shareholders 88,4921,03,2091,12,0731,24,3391,36,1351,35,4661,28,5591,29,2131,36,3511,35,3521,37,3511,44,115

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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