** Shares of Incitec Pivot IPL.AX slip 2.2% to A$2.62
** Co says persistent dry conditions across South Australia, Victoria and southern NSW as well as cyclonic conditions in other parts causing farmers to delay fertiliser dispatches
** As a result, IPL says fertiliser business has sales deferred to the second half of fiscal 2025 from the first half
** We are not expecting sales to materially recover into H2 at this stage — RBC Capital Markets
** Brokerage adds it is inclined to take a more cautious view towards co's fertiliser business
** Stock down as much as 5.6% earlier in the day, hitting its lowest level since January 30
** Stock down 10.4% YTD, including day's moves
(Reporting by Shivangi Lahiri in Bengaluru)
((shivangi.lahiri@thomsonreuters.com))
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