India Pesticides Ltd.
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ABOUT
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
- Company comfortably covers its interest (23.4x coverage)
- Stock looks reasonably valued - P/E of 14.5 is below its historical median
- Company has a consistent dividend-paying track record
- Company maintains a comfortable, low leverage position
CONS
- Company has a low return on equity of 9.9% over last 3 years
- Total debt has risen sharply - up 107.1% year on year
- Company has delivered a poor profit growth of -2.3% over past five years
- Free cash flow has been persistently negative
- Operating margins have contracted to 17.7% from 23.4%
* 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 |
| IPL | 135.70 | 14.52 | 1562.77 | 0.55 | 22.77 | -34.78 | 251.76 | -8.51 | 16.76 | 14.09 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 201 | 202 | 151 | 126 | 220 | 229 | 172 | 207 | 275 | 290 | 225 | 266 | 252 | |
| 179 | 175 | 118 | 122 | 192 | 195 | 146 | 176 | 230 | 242 | 188 | 225 | 225 | |
| Operating Profit | 23 | 27 | 33 | 4 | 28 | 34 | 27 | 32 | 45 | 49 | 38 | 42 | 27 |
| OPM % | 11.30% | 13.35% | 21.95% | 3.03% | 12.77% | 14.66% | 15.43% | 15.32% | 16.43% | 16.80% | 16.73% | 15.70% | 10.66% |
| 3 | 4 | 4 | 4 | 4 | 5 | 3 | 3 | 9 | 5 | 3 | 4 | 4 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 3 | 3 |
| Depreciation | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 5 | 6 |
| Profit before Tax | 21 | 27 | 32 | 2 | 27 | 34 | 23 | 29 | 47 | 47 | 34 | 38 | 31 |
| Tax % | 26.76% | 26.47% | 26.16% | 47.26% | 26.93% | 22.89% | 30.76% | 24.57% | 25.85% | 32.74% | 33.07% | 19.17% | 26.19% |
| Net Profit | 0 | 0 | 0 | 0 | 19 | 26 | 16 | 22 | 35 | 32 | 23 | 31 | 23 |
| 1.36 | 1.70 | 2.09 | 0.09 | 1.69 | 2.25 | 1.40 | 1.89 | 3.03 | 2.74 | 1.97 | 2.66 | 1.98 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 649 | 716 | 885 | 680 | 829 | 1,057 | 1,034 | |
| 466 | 502 | 688 | 594 | 709 | 884 | 879 | |
| Operating Profit | 183 | 214 | 197 | 87 | 120 | 173 | 155 |
| OPM % | 28.21% | 29.85% | 22.25% | 12.73% | 14.43% | 16.40% | 15.00% |
| 6 | 13 | 13 | 15 | 15 | 21 | 16 | |
| Interest | 3 | 7 | 7 | 4 | 5 | 7 | 8 |
| Depreciation | 6 | 9 | 11 | 15 | 18 | 21 | 22 |
| Profit before Tax | 180 | 212 | 192 | 82 | 111 | 166 | 150 |
| Tax % | 25.24% | 25.34% | 25.26% | 26.89% | 26.21% | 27.75% | 28.03% |
| Net Profit | 135 | 158 | 143 | 60 | 82 | 120 | 108 |
| EPS | 12.07 | 13.78 | 12.46 | 5.22 | 7.13 | 10.40 | — |
| Dividend Payout % | 2.66% | 5.47% | 6.03% | 14.36% | 10.51% | 7.21% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 10%
- 3 Years:
- 6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- -2%
- 3 Years:
- -6%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -16%
- 3 Years:
- -23%
- 1 Year:
- -37%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 16%
- 3 Years:
- 10%
- Last Year:
- 13%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 11 | 12 | 12 | 12 | 12 | 12 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 1 |
| 378 | 626 | 762 | 813 | 887 | 998 | |
| 30 | 22 | 12 | 23 | 56 | 107 | |
| Trade Payables | 74 | 95 | 103 | 95 | 118 | 138 |
| 67 | 91 | 79 | 76 | 115 | 146 | |
| Total Liabilities | 561 | 845 | 967 | 1,019 | 1,187 | 1,401 |
| 124 | 174 | 248 | 279 | 328 | 388 | |
| Capital Work in Progress | 12 | 44 | 27 | 58 | 58 | 68 |
| 9 | 17 | 12 | 12 | 15 | 19 | |
| 70 | 140 | 225 | 208 | 243 | 287 | |
| 0 | 0 | 0 | 238 | 344 | 360 | |
| Cash & Bank | 44 | 107 | 61 | 113 | 101 | 117 |
| 302 | 364 | 393 | 110 | 98 | 162 | |
| Total Assets | 561 | 845 | 967 | 1,019 | 1,187 | 1,401 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 128 | 130 | 93 | 115 | 3 | 62 | |
| Cash from Investing | -83 | -133 | -24 | -120 | -20 | -83 |
| Cash from Financing | -4 | 71 | -25 | 3 | 19 | 36 |
| -4 | 14 | -4 | -2 | 2 | 15 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-05 - India Pesticides Limited has informed the Exchange about ESG Rating
2026-09-01 - India Pesticides Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 31, 2026. Further, the company has informed the Exchange regarding voting results
2026-08-31 - India Pesticides Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 31, 2026
2026-08-18 - India Pesticides Limited has informed the Exchange about Transcript of Earning call for Q1 FY27
2026-08-13 - India Pesticides Limited has informed the Exchange about Link of Recording
2026-08-07 - India Pesticides Limited has informed the Exchange about Copy of Newspaper Publication after dispatching AGM Notice.
2026-08-05 - India Pesticides Limited has informed the Exchange regarding 'Business Responsibility & Sustainability Report'.
2026-08-05 - India Pesticides Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 31, 2026
2026-08-03 - India Pesticides Limited has informed the Exchange about Schedule of meet
News
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India Pesticides Ltd.
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