Anand Rathi's research report on Rallis India
Considering its capex plans, focus on product launches, gaining export market-share, rising FCFs, expanding return ratios and strong balance sheet, Rallis India’s long-term performance leaves us upbeat. We expect its revenue/profit to clock 12%/22% CAGRs over FY22-24.
We initiate coverage on it with a Buy, at a target price of Rs350. Key short-term monitorables are the increasing use of illegal cotton seed, rising input costs and softer demand for contract manufacturing.
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