Rallis India Q2 Results, October 22, 2026: Profit Falls 17% to ₹85 Crore

Rallis India Q2 results, filed on Wednesday, October 22, 2026, show a kharif quarter that held up on sales but not on profit. The Tata Chemicals subsidiary reported revenue of ₹858 crore for July to September, almost exactly where it was a year ago at ₹861 crore. Profit after tax, though, fell to ₹85 crore from ₹102 crore, a drop of about 17%.

Rallis India Q2 results in numbers

Everything below is taken from the company’s press release and the unaudited results statement, both filed with NSE. Growth rates are our own arithmetic on the reported figures.

• Revenue from operations: ₹858 crore, against ₹861 crore in Q2 FY26 and ₹1,022 crore in the June quarter.
• EBITDA: ₹126 crore, down from ₹154 crore a year earlier, a fall of roughly 18%.
• EBITDA margin: 14.7%, as reported. On the same basis, last year’s Q2 works out to about 17.9% by our calculation, so margins gave up around three percentage points.
• Profit before exceptional items and tax: ₹100 crore, versus ₹131 crore.
• Net profit: ₹85 crore, versus ₹102 crore, with a PAT margin of 9.9%.
• Earnings per share: ₹4.37 for the quarter, against ₹5.23 a year ago.

Sequentially the drop looks steeper. Revenue was about 16% lower than the June quarter, and profit was down by roughly a third from ₹125 crore. Some of that is simply the shape of the agri-inputs calendar, but management did not pretend the season was easy.

What moved inside the business

Crop care, the larger piece, grew its topline by 4%. Almost all of the lift came from the B2B side, which grew 17% on what the company called a strong recovery in its CSM portfolio. The branded domestic formulations business, which sells to farmers through dealers, was flat year on year. Within that, herbicides grew 16% while insecticides were flat.

The soil and plant health business grew 22%, though the company said this was mainly price-led rather than volume. Seeds went the other way. Rallis put the decline down to higher returns from the kharif season, which is a polite way of saying more unsold seed came back from the channel.

The company also launched four crop care products in the quarter: Silentra, an insecticide; Marcellus and Blitox Super, both fungicides; and Trynage, a herbicide. They are aimed at problems like brown planthopper and sheath blight in rice, and weed and disease control in sugarcane and horticulture.

The half-year picture is kinder

Because the June quarter was strong, the first half still shows growth. H1 FY27 revenue came in at ₹1,880 crore against ₹1,818 crore, about 3% higher. EBITDA rose to ₹311 crore from ₹304 crore, and net profit to ₹210 crore from ₹197 crore, up roughly 6.6%. The H1 EBITDA margin was 16.5% and the PAT margin 11.2%.

MD and CEO Dr. Gyanendra Shukla said the company focused on portfolio and operational efficiencies in a disruptive quarter. In its management comment, Rallis said weather-related disruptions and delayed sowing kept hurting demand during the season.

What we’d watch next

For us, the story here is mix. The B2B and CSM side is doing the heavy lifting, while the farmer-facing brands are standing still and seeds are dealing with returns. If the rabi season is cleaner on weather, the domestic formulations number is the one that needs to move. If you want a framework for reading a quarter like this beyond the headline profit, our guide to analysing quarterly results walks through margins and sequential comparisons. For another result from the same evening, see our take on Nuvoco Vistas Q2 results.

Disclaimer: This article is for information and education only and is not investment advice. Do your own research or consult a SEBI-registered adviser before making any investment decision.