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
Outlook
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)
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