Rallis India Falls To Two-Week Low As Q1 Profit Drops 24%
Nine out of the 16 analysts tracking the company have a 'sell' rating on the stock.
Shares of Rallis India Ltd. fell nearly 7% on Friday to the lowest in over two weeks after the agrochemicals company reported weak earnings in the first quarter of the current financial year.
Rallis's net profit declined 24% to Rs 48 crore in the June quarter, while the revenue remained flat, according to an exchange filing.
Rallis Q1 FY25 Earnings Highlights (YoY)
Revenue at Rs 783 crore versus Rs 782 crore.
Ebitda down 13% to Rs 96 crore versus Rs 110 crore.
Ebitda margin at 12.3% versus 14.1%.
Net profit down 24% to Rs 48 crore versus Rs 63 crore.
On the NSE, Rallis' stock fell as much as 6.87% during the day to Rs 317.10 apiece, the lowest since July 3. It was trading 6.37% lower at Rs 318.45 per share, compared to a 0.59% decline in the benchmark Nifty at 11:20 a.m.
The share price has gained 45.78% in the last 12 months and 6.46% on a year-to-date basis. The total traded volume so far in the day stood at 0.47 times its 30-day average. The relative strength index was at 47.66
Nine out of the 16 analysts tracking the company have a 'sell' rating on the stock, five recommend 'hold' and two suggest 'buy', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 20.6%.
