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ICICI Direct Report
Rallis India Ltd.'s numbers were below estimates across all parameters. Margins were impacted owing to higher input cost.
Revenues remained flat at Rs 727.8 crore, impacted by a dent in the seeds business and lower growth from the domestic crop care business.
Gross margins declined 190 basis points YoY to ~36.2% while Ebitda margin contracted 400 bps YoY to 12.1%, due to unabsorbed fixed overheads such as employee and partly other expenses.
Rallis India's Ebitda was down 24.6% YoY to Rs 88 crore. Profit after tax fell 32% YoY to Rs 56.5 crore owing to lower-than-expected operational performance.
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