Rallis India Limited has appointed S R B C & CO LLP as its Statutory Auditors for a period of five consecutive years, marking a scheduled rotation in audit services following the tenure limit of the current firm. The Board of Directors approved the appointment via a circular resolution on July 27, 2026, based on the recommendation of the Audit Committee. The new mandate will commence from the conclusion of the 79th Annual General Meeting (AGM) in 2027 and continue until the conclusion of the 84th AGM in 2032, pending final approval by the company’s members.

The change is procedural, driven by regulatory requirements limiting the tenure of statutory auditors. B S R & Co. LLP, the existing Statutory Auditors, will continue to undertake the audit of the company until the conclusion of the 79th AGM in 2027. This date marks the completion of their second consecutive term of five years, necessitating the rotation to ensure independent oversight and compliance with SEBI Listing Regulations.

S R B C & CO LLP, a firm of Chartered Accountants registered with the Institute of Chartered Accountants of India (ICAI) under Firm Registration No. 324982E/E300003, brings extensive experience in audit and assurance services. Established in 2002 with its registered office in Kolkata, the firm maintains offices across key cities in India. It holds a valid Peer Review certificate and is part of S. R. Batliboi & Affiliates, a network of ICAI-registered firms. The network audits several large listed and private companies across diverse sectors, including Industrial, Infrastructure, Consumer Products, Financial Services, Technology, Media and Entertainment, Telecommunications, and Professional Services.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Sariga P Gokul, Company Secretary & Compliance Officer of Rallis India Limited, signed the communication to the stock exchanges.

Auditor Transition Details

Regulatory Compliance

The appointment adheres to the mandatory rotation norms prescribed for listed entities in India. The transition ensures continuity in audit coverage, with the outgoing firm managing the final audit cycle up to the 2027 AGM. The incoming firm will assume responsibilities immediately thereafter, ensuring no gap in statutory audit oversight during the handover period.

Rallis India Limited reported a 31% rise in net profit to ₹125 crore for the quarter ended June 30, 2026, compared to ₹95 crore in the corresponding period of the previous year. The company’s revenue from operations increased 7% to ₹1,022 crore from ₹957 crore in Q1FY26. EBITDA for the quarter grew 23% year-on-year to ₹184 crore, with the EBITDA margin expanding to 18% from 15.67%. The growth was primarily driven by the Agri Inputs segment, supported by focused market interventions and improved profitability across Crop Care, Soil & Plant Health, and Seeds businesses.

The Board of Directors approved the unaudited financial results for Q1FY27 at a meeting held on July 20, 2026. The statutory auditors, BSR & Co. LLP, expressed an unmodified review conclusion on the results. The company’s total income for the quarter stood at ₹1,035 crore, up from ₹969 crore in the same quarter last year. Total expenses rose to ₹869 crore from ₹840 crore, while the cost of materials consumed increased to ₹618 crore from ₹473 crore.

Profit before tax for the quarter improved to ₹168 crore from ₹129 crore in Q1FY25. The company benefited from a reversal of provision for performance incentives and retirement-related provisions amounting to ₹35 crore, arising from the harmonisation of salary structures. CFO Bhaskar Swaminathan clarified that ₹24 crore of this reversal was a one-time correction specific to this year, while ₹11 crore relates to recurring annual incentive settlements. Exceptional items included a profit of ₹2 crore from the sale of flat or freehold land. The basic and diluted earnings per share for the quarter stood at ₹6.43, compared to ₹4.89 in the same period last year.

Financial Performance Summary

The table below presents the key financial metrics for Q1FY27 against Q1FY26:

Segment Performance

The Crop Care business reported revenue of ₹697 crore, registering a growth of 7% year-on-year, driven by a 19% increase in the B2C segment, partially offset by a 19% decline in the B2B segment. Domestic (B2C) revenue reached ₹534 crore from ₹449 crore, fueled by a 15% volume growth. The Soil & Plant Health (SPH) segment delivered a growth of 10% year-on-year to ₹62 crore, supported by prudent pricing actions and contributions from Biostimulants and Biofertilizers. The Seeds business reported revenue of ₹325 crore, growing 6% year-on-year, driven by strategic product placements and pre-season initiatives. Managing Director Dr. Gyanendra Shukla noted that while cotton acreage declined, growth in rice, maize, and millet segments offset the impact.

Market Context and Outlook

Q1FY27 was characterized by a weak demand environment and sustained pricing pressure in the Indian agrochemical space. Supply chain fragility, volatility in raw material availability, and dependence on Chinese inputs influenced sourcing dynamics. The delayed onset of the South-West monsoon weighed on on-ground consumption, with cumulative rainfall deficit below normal as of early July. However, sowing activity accelerated by mid-July, reaching ~32% of the normal area. Exports de-grew by 28% to ₹110 crore due to lower demand for pendimethalin in Europe and competitive pricing from China. Conversely, Contract Sales Manufacturing (CSM) revenue surged 191% to ₹24 crore. The company maintains a healthy cash and liquid balance of ₹309 crore as of June 30, 2026.