RARallis India500355Quarterly results

Board approves Q2 and H1 FY27 unaudited results; auditor gives unmodified review conclusion

Board met on October 22, 2026 and approved the unaudited financial results for the quarter and half year ended September 30, 2026.

By ScoutQuest · Thu 22 Oct 2026, 6:21 PM IST · 2 min read

Total income

Latest 866; Year ago 871 (−0.6%); Prev qtr 1,035 (−16.3%)

Profit after tax

Latest 85; Year ago 102 (−16.7%); Prev qtr 125 (−32%)

Period

Quarter ended 30 September, 2026

What the board decided

Rallis India's Board met on October 22, 2026 from 2:45 p.m. to 5:00 p.m. (IST) and approved the unaudited financial results for the quarter and half year ended September 30, 2026, together with the Limited Review Report.

Auditor's conclusion

• B S R & Co. LLP issued a limited review report with an unmodified conclusion: based on their review, nothing came to their attention that causes them to believe the statement is materially misstated, or has not disclosed what Regulation 33 requires.
• A limited review is narrower than a full audit; the auditors state they do not express an audit opinion.

Inside the exceptional items note

The results carry a note on exceptional items, printed in ₹ in Cr., which matters for reading the profit line:

• Profit on sale of flats/freehold land (net of costs): 14 in Q2 FY27, 2 in Q1 FY27 and 6 in Q2 FY26; 16 for H1 FY27 against 6 for H1 FY26.
• Impact of labour code on employee benefits: (40) for the year ended March 31, 2026.
• Total exceptional items: 14 (Q2 FY27), 2 (Q1 FY27), 6 (Q2 FY26), 16 (H1 FY27), 6 (H1 FY26) and (26) for FY26.

Labour codes

On November 21, 2025 the Government of India notified four Labour Codes consolidating 29 existing labour laws. The company described the impact as material and regulatory-driven, non-recurring, and presented an incremental impact of ₹40 crore under 'Exceptional items' in the statement of profit and loss for the year ended March 31, 2026.

Provision reversal

During the quarter ended June 30, 2026 and the half year ended September 30, 2026, the company reversed provisions for performance incentives and certain provisions relating to retrials, together amounting to ₹35 crore, arising from harmonisation of salary structures across divisions and employee groups. A reversal is a write-back of an earlier charge, so it supports reported profit in those periods; it is not sales or operating income.

Other points to note

• The business is seasonal in nature and performance can be affected by weather conditions and cropping pattern.
• The company has one reportable business segment, 'Agri-Inputs'.
• The company has no subsidiary, associate or joint venture as on September 30, 2026.

How to read this

Exceptional items of this size sit outside day-to-day operations, so periods with and without them are not directly comparable. The reversal of ₹35 crore and the land-sale profit lift reported profit without adding to routine operations, while the ₹40 crore labour-code charge was booked in the year ended March 31, 2026. The auditor's unmodified conclusion speaks to the reliability of the disclosure, not to the quality of earnings.

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