Rallis misses Street expectations in Q3 on high input costs, one-offs

Initiatives by the firm may show results over the next 6-12 months

Rallis India’s December quarter performance came much below Street expectations, and as a result the stock lost more than 5 per cent on the bourses on Friday.
 
The results were declared after market hours on Thursday. To mitigate the raw material cost increases, the company had taken price hikes, which, coupled with a strong Kharif season and steady exports, was expected to boost revenue growth.
 
However, the company’s consolidated revenues at Rs 417 crore grew 6.9 per cent year-on-year, which was lower than the consensus estimates of Rs 432.8 crore as indicated by Bloomberg. Analysts had estimated double-digit