ICICI Direct has given Buy recommendation for Rallis India with a target price of Rs. 400 in its research report issued on Jul 23, 2021

ICICI Direct’s research report on Rallis India

Rallis India is a leading agrochemical company with a presence across the agri input value chain and a strong and healthy pipeline of sustainable products. The company has a diversified portfolio, supported by a strong channel network of more than 6,700 dealers and 79,000 retailers In terms of revenue contribution, domestic crop care constitutes 54% of the overall revenue followed by international crop care of 30% and rest from seeds business


We retain BUY rating on the back of better growth outlook from both domestic and international crop care business  We value Rallis India at 25x P/E FY23E EPS to arrive at a revised target price of Rs 400 per share (earlier Rs 350 per share)


Leave a Reply

Your email address will not be published. Required fields are marked *