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.
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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%.
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