Insecticides (India) Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2017 • Formulations: 87.4% • Technical (a.i): 12.6%
AI Sector View
AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Company has consistently been profitable over the last 5 years
- Operating margins have improved to 9.6% from 6.2%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.99x)
- Company comfortably covers its interest (12.1x coverage)
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
CONS
- Receivables are growing faster than sales - a possible quality concern
- Recent results are weak - TTM profit is down 13.1% versus prior year
- Total debt has risen sharply - up 44.8% year on year
- Company has delivered a poor profit growth of 8.2% over past five years
- Though reporting repeated profits, the company pays out little dividend (4.2%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| UPL | 577.00 | 24.11 | 48708.57 | 1.04 | -73.00 | 58.52 | 10181.00 | 10.47 | 12.00 | 13.43 |
| PIIND | 2396.05 | 31.20 | 36352.42 | 0.63 | 244.20 | -38.95 | 1702.30 | -10.43 | 16.00 | 21.69 |
| SUMICHEM | 481.50 | 41.48 | 24033.87 | 0.27 | 214.51 | 20.45 | 1063.35 | 0.62 | 23.39 | 21.94 |
| BAYERCROP | 3948.35 | 320.25 | 17744.71 | 3.80 | 321.60 | 15.39 | 1835.00 | -4.16 | 30.08 | 20.03 |
| SHARDACROP | 783.10 | 11.28 | 7065.17 | 1.92 | 88.02 | -38.36 | 1073.77 | 9.03 | 31.10 | 17.32 |
| DHANUKA | 977.80 | 14.68 | 4358.87 | 0.20 | 75.50 | 27.94 | 442.02 | 20.01 | 24.44 | 24.83 |
| RALLIS | 203.90 | 24.15 | 3965.22 | 1.47 | -14.15 | -274.26 | 507.54 | 7.70 | 13.23 | -0.56 |
| NACLIND | 164.35 | 311.22 | 3849.79 | 0.00 | 20.84 | 59.82 | 383.33 | -14.50 | 6.20 | 10.80 |
| BHAGCHEM | 263.40 | 124.10 | 3415.48 | 0.06 | 133.29 | 3249.84 | 1950.19 | 1475.55 | 4.55 | 15.65 |
| GSPCROP | 491.20 | 23.34 | 2285.00 | 0.20 | 263.94 | 1111.46 | 3859.95 | 1153.27 | 18.46 | 11.02 |
| BHARATRAS | 1170.30 | 13.57 | 1945.16 | 0.04 | 372.30 | 838.73 | 3381.60 | 796.03 | 16.63 | 15.19 |
| INSECTICID | 623.60 | 14.50 | 1814.54 | 0.32 | 43.87 | -24.49 | 611.52 | -11.52 | 15.97 | 11.10 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 640 | 696 | 358 | 272 | 657 | 627 | 358 | 359 | 691 | 638 | 385 | 426 | 612 | |
| 594 | 614 | 332 | 264 | 585 | 537 | 327 | 330 | 607 | 548 | 358 | 401 | 558 | |
| Operating Profit | 46 | 82 | 26 | 9 | 72 | 90 | 31 | 28 | 85 | 89 | 27 | 26 | 53 |
| OPM % | 7.13% | 11.77% | 7.26% | 3.20% | 10.99% | 14.32% | 8.64% | 7.93% | 12.24% | 14.03% | 7.12% | 6.01% | 8.70% |
| 4 | -0 | 1 | 5 | 2 | 2 | 0 | 3 | 4 | 3 | 1 | 5 | 5 | |
| Interest | 3 | 3 | 3 | 2 | 2 | 2 | 1 | 2 | 4 | 4 | 5 | 4 | 5 |
| Depreciation | 7 | 7 | 7 | 8 | 7 | 7 | 8 | 7 | 7 | 9 | 9 | 9 | 10 |
| Profit before Tax | 39 | 72 | 17 | 4 | 66 | 82 | 22 | 22 | 77 | 78 | 14 | 17 | 59 |
| Tax % | 26.49% | 26.00% | 28.09% | -112.64% | 25.27% | 25.60% | 22.30% | 36.92% | 25.05% | 25.16% | 27.10% | 26.31% | 25.41% |
| Net Profit | 0 | 0 | 0 | 0 | 49 | 61 | 17 | 14 | 58 | 59 | 10 | 12 | 44 |
| 9.85 | 17.95 | 4.14 | 2.54 | 16.68 | 20.74 | 5.96 | 4.77 | 19.97 | 20.31 | 3.60 | 4.02 | 15.08 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 994 | 1,073 | 1,194 | 1,363 | 1,420 | 1,504 | 1,801 | 1,966 | 2,000 | 2,140 | 2,060 | |
| 883 | 925 | 1,006 | 1,207 | 1,268 | 1,334 | 1,679 | 1,804 | 1,779 | 1,913 | 1,865 | |
| Operating Profit | 111 | 148 | 187 | 156 | 152 | 170 | 122 | 162 | 221 | 227 | 196 |
| OPM % | 11.20% | 13.77% | 15.68% | 11.43% | 10.73% | 11.28% | 6.77% | 8.25% | 11.06% | 10.61% | 9.50% |
| 7 | 3 | 1 | 3 | -2 | 4 | 1 | 9 | 7 | 12 | 13 | |
| Interest | 20 | 16 | 15 | 24 | 7 | 7 | 13 | 11 | 7 | 17 | 18 |
| Depreciation | 16 | 17 | 20 | 24 | 25 | 26 | 26 | 29 | 29 | 35 | 38 |
| Profit before Tax | 82 | 118 | 153 | 110 | 120 | 141 | 84 | 132 | 193 | 187 | 168 |
| Tax % | 27.53% | 28.89% | 20.00% | 22.11% | 21.42% | 24.01% | 24.60% | 22.61% | 26.33% | 25.32% | 25.52% |
| Net Profit | 59 | 84 | 122 | 86 | 94 | 107 | 63 | 102 | 142 | 139 | 125 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 45.43 | 36.17 | 21.36 | 34.49 | 48.81 | 47.91 | — |
| Dividend Payout % | 6.92% | 4.90% | 3.37% | 14.27% | 4.40% | 5.51% | 14.05% | 8.70% | 4.10% | 4.17% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 8%
- 5 Years:
- 9%
- 3 Years:
- 6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 13%
- 5 Years:
- 8%
- 3 Years:
- 30%
STOCK PRICE CAGR
- 10 Years:
- 7%
- 5 Years:
- 4%
- 3 Years:
- 7%
- 1 Year:
- -23%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 11%
- 3 Years:
- 12%
- Last Year:
- 12%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 21 | 21 | 21 | 21 | 21 | 20 | 30 | 30 | 29 | 29 |
| 444 | 527 | 641 | 711 | 800 | 850 | 889 | 982 | 1,055 | 1,191 | |
| 237 | 114 | 305 | 189 | 99 | 52 | 161 | 75 | 90 | 140 | |
| Trade Payables | 199 | 243 | 280 | 247 | 362 | 324 | 448 | 420 | 508 | 439 |
| 96 | 120 | 141 | 150 | 176 | 187 | 190 | 246 | 322 | 288 | |
| Total Liabilities | 995 | 1,026 | 1,388 | 1,317 | 1,457 | 1,432 | 1,718 | 1,752 | 2,005 | 2,088 |
| 185 | 232 | 240 | 239 | 239 | 253 | 262 | 283 | 279 | 366 | |
| Capital Work in Progress | 57 | 13 | 13 | 33 | 52 | 86 | 117 | 135 | 156 | 119 |
| 11 | 17 | 12 | 12 | 14 | 16 | 17 | 23 | 29 | 29 | |
| 426 | 407 | 705 | 519 | 661 | 630 | 862 | 807 | 886 | 780 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 297 | 385 | 487 | |
| Cash & Bank | 9 | 20 | 9 | 74 | 83 | 36 | 20 | 61 | 57 | 87 |
| 308 | 337 | 409 | 440 | 409 | 412 | 440 | 145 | 212 | 219 | |
| Total Assets | 995 | 1,026 | 1,388 | 1,317 | 1,457 | 1,432 | 1,718 | 1,752 | 2,005 | 2,088 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 21 | 208 | -101 | 274 | 183 | 175 | 20 | 187 | 93 | 100 | |
| Cash from Investing | -14 | -26 | -49 | -24 | -113 | 9 | -86 | -46 | -38 | -86 |
| Cash from Financing | 9 | -143 | 172 | -159 | -104 | -115 | 80 | -98 | -61 | 18 |
| -0 | 13 | -11 | 59 | -61 | 30 | -17 | 42 | -5 | 31 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-17 - Insecticides (India) Limited has informed the Exchange about Transcript
2026-08-13 - Insecticides (India) Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 12, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-12 - Insecticides (India) Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 12, 2026
2026-08-12 - Insecticides (India) Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-11 - Insecticides (India) Limited has informed the Exchange about Link of Recording
2026-08-11 - Insecticides (India) Limited has informed the Exchange regarding a press release dated August 11, 2026, titled "Unaudited standalone and consolidated financial results for Q1 FY27".
2026-08-11 - Insecticides (India) Limited has informed the Exchange about Investor Presentation
2026-08-11 - Insecticides (India) Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-23 - Insecticides (India) Limited has informed the Exchange about Schedule of meet
News
Recent coverage and analyst commentary for INSECTICID
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Insecticides (India) Ltd.
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