India Pesticides Ltd.

140.271.6%

2026-08-21

indiapesticideslimited.comBSE: 543311NSE: IPL
Market Cap₹ 1,577 Cr.
Current Price₹ 138
High / Low₹ 246 / 125
Stock P/E0.0
Book Value₹ 90
Price to Book1.42
Dividend Yield0.55 %
ROCE17.2 %
ROE12.7 %
Face Value₹ 1

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ABOUT

KEY POINTS

PROS

  • Company is almost debt free
  • Company comfortably covers its interest (23.9x coverage)
  • Stock looks reasonably valued - P/E of 11.8 is below its historical median
  • Company has a consistent dividend-paying track record

CONS

  • Total debt has risen sharply - up 43.4% year on year
  • Company has delivered a poor profit growth of -1.9% over past five years
  • Operating margins have contracted to 15.5% from 23.4%
  • Though reporting repeated profits, the company pays out little dividend (7.1%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.UPL568.7023.7748007.911.05-73.0058.5210181.0010.4712.0013.43
2.PIIND2496.0032.5137868.840.60244.20-38.951702.30-10.4316.0021.69
3.SUMICHEM553.6547.6927635.200.23214.5120.451063.350.6223.3921.94
4.BAYERCROP4068.40329.9918284.243.69321.6015.391835.00-4.1630.0820.03
5.SHARDACROP771.8011.126963.221.9488.02-38.361073.779.0331.1017.32
6.DHANUKA995.2014.944436.430.2075.5027.94442.0220.0124.4424.83
7.RALLIS211.9025.104120.801.42-14.15-274.26507.547.7013.23-0.56
8.NACLIND174.00329.494075.830.0020.8459.82383.33-14.506.2010.80
9.BHAGCHEM290.25136.753763.650.05133.293249.841950.191475.554.5515.65
10.GSPCROP595.3528.292769.490.17263.941111.463859.951153.2720.8111.02
11.BHARATRAS1279.9014.852127.330.04372.30838.733381.60796.0316.6315.19
12.IPL136.9514.651577.160.5522.77-34.78251.76-8.5116.7614.09
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023
201
178
Operating Profit
OPM %
Other Income
3
Interest
1
Depreciation
4
22
Tax %
26.41%
Net Profit
16
1
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Sep 2023
202
175
Operating Profit
OPM %
Other Income
4
Interest
1
Depreciation
4
27
Tax %
26.23%
Net Profit
20
2
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Dec 2023
151
118
Operating Profit
OPM %
Other Income
4
Interest
1
Depreciation
4
33
Tax %
25.92%
Net Profit
24
2
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Mar 2024
127
123
Operating Profit
OPM %
Other Income
4
Interest
1
Depreciation
4
2
Tax %
55.79%
Net Profit
1
0
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Jun 2024
220
192
Operating Profit
OPM %
Other Income
4
Interest
1
Depreciation
4
27
Tax %
26.82%
Net Profit
20
2
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Sep 2024
229
195
Operating Profit
OPM %
Other Income
6
Interest
1
Depreciation
4
34
Tax %
22.71%
Net Profit
26
2
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Dec 2024
172
145
Operating Profit
OPM %
Other Income
3
Interest
1
Depreciation
5
24
Tax %
28.74%
Net Profit
17
2
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Mar 2025
208
176
Operating Profit
OPM %
Other Income
3
Interest
1
Depreciation
5
29
Tax %
23.92%
Net Profit
22
2
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Jun 2025
275
230
Operating Profit
OPM %
Other Income
9
Interest
2
Depreciation
5
48
Tax %
25.70%
Net Profit
35
3
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Sep 2025
290
241
Operating Profit
OPM %
Other Income
5
Interest
1
Depreciation
5
48
Tax %
32.58%
Net Profit
32
3
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Dec 2025
226
188
Operating Profit
OPM %
Other Income
3
Interest
2
Depreciation
5
34
Tax %
32.80%
Net Profit
23
2
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Mar 2026
266
224
Operating Profit
OPM %
Other Income
4
Interest
3
Depreciation
5
39
Tax %
18.92%
Net Profit
32
3
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Jun 2026
253
225
Operating Profit
OPM %
Other Income
4
Interest
3
Depreciation
6
31
Tax %
26.51%
Net Profit
23
0
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
12
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018
253
198
Operating Profit
58
OPM %
23
Other Income
3
Interest
4
Depreciation
4
50
Tax %
35
Net Profit
33
EPS
3
Dividend Payout %
2
Minority Interest
0
Share of Associates
0
Adjusted EPS
3
Minority Interest
0
Share of Associates
0
Adjusted EPS
3
Mar 2019
341
275
Operating Profit
71
OPM %
21
Other Income
5
Interest
6
Depreciation
4
61
Tax %
28
Net Profit
44
EPS
4
Dividend Payout %
1
Minority Interest
0
Share of Associates
0
Adjusted EPS
4
Minority Interest
0
Share of Associates
0
Adjusted EPS
4
Mar 2020
480
386
Operating Profit
104
OPM %
22
Other Income
10
Interest
5
Depreciation
5
93
Tax %
24
Net Profit
71
EPS
6
Dividend Payout %
5
Minority Interest
0
Share of Associates
0
Adjusted EPS
6
Minority Interest
0
Share of Associates
0
Adjusted EPS
6
Mar 2021
649
466
Operating Profit
190
OPM %
29
Other Income
6
Interest
3
Depreciation
6
180
Tax %
25
Net Profit
135
EPS
12
Dividend Payout %
3
Minority Interest
0
Share of Associates
0
Adjusted EPS
12
Minority Interest
0
Share of Associates
0
Adjusted EPS
12
Mar 2022
716
502
Operating Profit
227
OPM %
32
Other Income
13
Interest
7
Depreciation
8
212
Tax %
25
Net Profit
158
EPS
14
Dividend Payout %
5
Minority Interest
0
Share of Associates
0
Adjusted EPS
14
Minority Interest
0
Share of Associates
0
Adjusted EPS
14
Mar 2023
885
687
Operating Profit
211
OPM %
24
Other Income
13
Interest
6
Depreciation
11
193
Tax %
25
Net Profit
144
EPS
13
Dividend Payout %
6
Minority Interest
0
Share of Associates
0
Adjusted EPS
13
Minority Interest
0
Share of Associates
0
Adjusted EPS
13
Mar 2024
681
594
Operating Profit
103
OPM %
15
Other Income
15
Interest
4
Depreciation
15
84
Tax %
27
Net Profit
61
EPS
5
Dividend Payout %
14
Minority Interest
0
Share of Associates
0
Adjusted EPS
5
Minority Interest
0
Share of Associates
0
Adjusted EPS
5
Mar 2025
829
708
Operating Profit
136
OPM %
16
Other Income
15
Interest
4
Depreciation
18
114
Tax %
26
Net Profit
84
EPS
7
Dividend Payout %
10
Minority Interest
0
Share of Associates
0
Adjusted EPS
7
Minority Interest
0
Share of Associates
0
Adjusted EPS
7
Mar 2026
1,057
881
Operating Profit
197
OPM %
19
Other Income
21
Interest
7
Depreciation
21
169
Tax %
28
Net Profit
122
EPS
11
Dividend Payout %
7
Minority Interest
0
Share of Associates
0
Adjusted EPS
11
Minority Interest
0
Share of Associates
0
Adjusted EPS
11
TTM
1,034
877
Operating Profit
OPM %
Other Income
16
Interest
8
Depreciation
21
152
Tax %
28
Net Profit
110
EPS
Dividend Payout %
Minority Interest
0
Share of Associates
0
Adjusted EPS
Minority Interest
0
Share of Associates
0
Adjusted EPS

COMPOUNDED SALES GROWTH

10 Years:
5 Years:
10%
3 Years:
6%

COMPOUNDED PROFIT GROWTH

10 Years:
5 Years:
-2%
3 Years:
-5%

STOCK PRICE CAGR

10 Years:
5 Years:
-15%
3 Years:
-14%
1 Year:
-36%

RETURN ON EQUITY

10 Years:
5 Years:
16%
3 Years:
10%
Last Year:
13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Aug 24

₹ 0.75

Rs.0.7500 per share(75%)Dividend

2025

Aug 12

₹ 0.75

Rs.0.7500 per share(75%)Dividend

2024

Aug 12

₹ 0.75

Rs.0.7500 per share(75%)Final Dividend

2023

Aug 17

₹ 0.75

Rs.0.7500 per share(75%)Final Dividend

2022

Aug 11

₹ 0.75

Rs.0.7500 per share(75%)Final Dividend

Mar 2018
Equity Capital
3
141
36
Trade Payables
37
39
Total Liabilities
256
69
Capital Work in Progress
2
3
19
0
Cash & Bank
3
158
Total Assets
256
Total Debt
46
Net Working Capital
79
Contingent Liabilities
0
Book Value per Share
4521.36
Face Value
100.00
Total Debt
46
Net Working Capital
79
Contingent Liabilities
0
Book Value per Share
4521.36
Face Value
100.00
Mar 2019
Equity Capital
3
184
47
Trade Payables
55
45
Total Liabilities
335
70
Capital Work in Progress
5
3
36
0
Cash & Bank
3
218
Total Assets
335
Total Debt
61
Net Working Capital
122
Contingent Liabilities
0
Book Value per Share
5875.59
Face Value
100.00
Total Debt
61
Net Working Capital
122
Contingent Liabilities
0
Book Value per Share
5875.59
Face Value
100.00
Mar 2020
Equity Capital
3
254
15
Trade Payables
62
55
Total Liabilities
388
99
Capital Work in Progress
1
3
39
0
Cash & Bank
8
238
Total Assets
388
Total Debt
28
Net Working Capital
165
Contingent Liabilities
1
Book Value per Share
8068.55
Face Value
100.00
Total Debt
28
Net Working Capital
165
Contingent Liabilities
1
Book Value per Share
8068.55
Face Value
100.00
Mar 2021
Equity Capital
11
378
23
Trade Payables
74
75
Total Liabilities
561
124
Capital Work in Progress
12
10
70
0
Cash & Bank
43
302
Total Assets
561
Total Debt
30
Net Working Capital
256
Contingent Liabilities
0
Book Value per Share
34.84
Face Value
1.00
Total Debt
30
Net Working Capital
256
Contingent Liabilities
0
Book Value per Share
34.84
Face Value
1.00
Mar 2022
Equity Capital
12
627
11
Trade Payables
95
94
Total Liabilities
837
163
Capital Work in Progress
44
20
140
0
Cash & Bank
107
363
Total Assets
837
Total Debt
14
Net Working Capital
418
Contingent Liabilities
0
Book Value per Share
55.43
Face Value
1.00
Total Debt
14
Net Working Capital
418
Contingent Liabilities
0
Book Value per Share
55.43
Face Value
1.00
Mar 2023
Equity Capital
12
763
2
Trade Payables
95
89
Total Liabilities
962
237
Capital Work in Progress
27
17
225
0
Cash & Bank
59
397
Total Assets
962
Total Debt
4
Net Working Capital
457
Contingent Liabilities
1
Book Value per Share
67.28
Face Value
1.00
Total Debt
4
Net Working Capital
457
Contingent Liabilities
1
Book Value per Share
67.28
Face Value
1.00
Mar 2024
Equity Capital
12
816
15
Trade Payables
93
79
Total Liabilities
1,014
267
Capital Work in Progress
41
41
208
239
Cash & Bank
109
110
Total Assets
1,014
Total Debt
18
Net Working Capital
453
Contingent Liabilities
1
Book Value per Share
71.86
Face Value
1.00
Total Debt
18
Net Working Capital
453
Contingent Liabilities
1
Book Value per Share
71.86
Face Value
1.00
Mar 2025
Equity Capital
12
892
48
Trade Payables
117
117
Total Liabilities
1,187
313
Capital Work in Progress
35
59
242
345
Cash & Bank
101
92
Total Assets
1,187
Total Debt
52
Net Working Capital
509
Contingent Liabilities
1
Book Value per Share
78.42
Face Value
1.00
Total Debt
52
Net Working Capital
509
Contingent Liabilities
1
Book Value per Share
78.42
Face Value
1.00
Mar 2026
Equity Capital
12
1,006
69
Trade Payables
136
149
Total Liabilities
1,371
369
Capital Work in Progress
18
78
284
362
Cash & Bank
108
152
Total Assets
1,371
Total Debt
74
Net Working Capital
579
Contingent Liabilities
39
Book Value per Share
88.33
Face Value
1.00
Total Debt
74
Net Working Capital
579
Contingent Liabilities
39
Book Value per Share
88.33
Face Value
1.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018
16
Cash from Investing
-13
Cash from Financing
-2
1
Free Cash Flow
16
OCF / Net Profit
0.49
Cumulative 5-Year FCF
0
OCF / Net Profit
0.49
Cumulative 5-Year FCF
0
Mar 2019
-3
Cash from Investing
-7
Cash from Financing
9
-1
Free Cash Flow
-11
OCF / Net Profit
-0.08
Cumulative 5-Year FCF
0
OCF / Net Profit
-0.08
Cumulative 5-Year FCF
0
Mar 2020
75
Cash from Investing
-31
Cash from Financing
-39
5
Free Cash Flow
48
OCF / Net Profit
1.06
Cumulative 5-Year FCF
0
OCF / Net Profit
1.06
Cumulative 5-Year FCF
0
Mar 2021
83
Cash from Investing
-84
Cash from Financing
-4
-5
Free Cash Flow
41
OCF / Net Profit
0.62
Cumulative 5-Year FCF
0
OCF / Net Profit
0.62
Cumulative 5-Year FCF
0
Mar 2022
76
Cash from Investing
-132
Cash from Financing
71
14
Free Cash Flow
-3
OCF / Net Profit
0.48
Cumulative 5-Year FCF
0
OCF / Net Profit
0.48
Cumulative 5-Year FCF
0
Mar 2023
46
Cash from Investing
-23
Cash from Financing
-29
-6
Free Cash Flow
-21
OCF / Net Profit
0.32
Cumulative 5-Year FCF
54
OCF / Net Profit
0.32
Cumulative 5-Year FCF
54
Mar 2024
120
Cash from Investing
-125
Cash from Financing
3
-3
Free Cash Flow
62
OCF / Net Profit
1.96
Cumulative 5-Year FCF
127
OCF / Net Profit
1.96
Cumulative 5-Year FCF
127
Mar 2025
2
Cash from Investing
-16
Cash from Financing
19
5
Free Cash Flow
-57
OCF / Net Profit
0.02
Cumulative 5-Year FCF
22
OCF / Net Profit
0.02
Cumulative 5-Year FCF
22
Mar 2026
68
Cash from Investing
-62
Cash from Financing
7
13
Free Cash Flow
8
OCF / Net Profit
0.55
Cumulative 5-Year FCF
-11
OCF / Net Profit
0.55
Cumulative 5-Year FCF
-11

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018
EPS (₹)
1030.66
Book Value (₹)
4521.36
Dividend per Share (₹)
20.00
Cash EPS (₹)
3.26
Operating Margin %
22.93%
Net Margin %
12.96%
ROE %
22.80%
ROCE %
28.73%
12.82%
Debtor Days
180
Inventory Days
28
Payable Days
116
91
Debt to Equity (x)
0.32x
Interest Coverage (x)
12.50x
1.80x
Revenue Growth %
0.00%
Operating Profit Growth %
0.00%
Net Profit Growth %
0.00%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2019
EPS (₹)
1379.86
Book Value (₹)
5875.59
Dividend per Share (₹)
20.00
Cash EPS (₹)
4.30
Operating Margin %
20.73%
Net Margin %
12.89%
ROE %
26.54%
ROCE %
30.45%
14.87%
Debtor Days
162
Inventory Days
29
Payable Days
96
95
Debt to Equity (x)
0.33x
Interest Coverage (x)
11.96x
1.95x
Revenue Growth %
34.55%
Operating Profit Growth %
21.68%
Net Profit Growth %
33.88%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2020
EPS (₹)
2223.78
Book Value (₹)
8068.55
Dividend per Share (₹)
110.00
Cash EPS (₹)
6.81
Operating Margin %
21.61%
Net Margin %
14.76%
ROE %
31.90%
ROCE %
37.00%
19.59%
Debtor Days
138
Inventory Days
28
Payable Days
90
75
Debt to Equity (x)
0.11x
Interest Coverage (x)
18.89x
2.46x
Revenue Growth %
40.78%
Operating Profit Growth %
46.75%
Net Profit Growth %
61.16%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2021
EPS (₹)
12.04
Book Value (₹)
34.84
Dividend per Share (₹)
0.32
Cash EPS (₹)
12.58
Operating Margin %
28.55%
Net Margin %
20.27%
ROE %
41.63%
ROCE %
52.05%
28.35%
Debtor Days
109
Inventory Days
30
Payable Days
85
54
Debt to Equity (x)
0.08x
Interest Coverage (x)
53.44x
2.64x
Revenue Growth %
35.30%
Operating Profit Growth %
82.85%
Net Profit Growth %
90.08%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2022
EPS (₹)
13.75
Book Value (₹)
55.43
Dividend per Share (₹)
0.75
Cash EPS (₹)
14.49
Operating Margin %
30.54%
Net Margin %
21.31%
ROE %
30.82%
ROCE %
40.76%
22.65%
Debtor Days
113
Inventory Days
51
Payable Days
98
67
Debt to Equity (x)
0.02x
Interest Coverage (x)
33.60x
3.25x
Revenue Growth %
10.35%
Operating Profit Growth %
19.78%
Net Profit Growth %
17.72%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2023
EPS (₹)
12.54
Book Value (₹)
67.28
Dividend per Share (₹)
0.75
Cash EPS (₹)
13.52
Operating Margin %
23.43%
Net Margin %
16.06%
ROE %
20.44%
ROCE %
27.87%
16.06%
Debtor Days
103
Inventory Days
74
Payable Days
74
103
Debt to Equity (x)
0.00x
Interest Coverage (x)
30.88x
3.66x
Revenue Growth %
23.57%
Operating Profit Growth %
-7.17%
Net Profit Growth %
-8.80%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
5.31
Book Value (₹)
71.86
Dividend per Share (₹)
0.75
Cash EPS (₹)
6.61
Operating Margin %
12.11%
Net Margin %
8.51%
ROE %
7.64%
ROCE %
10.78%
6.20%
Debtor Days
127
Inventory Days
110
Payable Days
91
146
Debt to Equity (x)
0.02x
Interest Coverage (x)
23.05x
3.72x
Revenue Growth %
-23.09%
Operating Profit Growth %
-51.35%
Net Profit Growth %
-57.63%
-57.63%
P/E (x)
38.23x
P/B (x)
2.83x
Dividend Yield %
0.37%
21.94x
Mar 2025
EPS (₹)
7.32
Book Value (₹)
78.42
Dividend per Share (₹)
0.75
Cash EPS (₹)
8.88
Operating Margin %
13.31%
Net Margin %
9.29%
ROE %
9.75%
ROCE %
13.10%
7.67%
Debtor Days
117
Inventory Days
90
Payable Days
89
119
Debt to Equity (x)
0.06x
Interest Coverage (x)
26.58x
2.96x
Revenue Growth %
21.80%
Operating Profit Growth %
32.64%
Net Profit Growth %
37.84%
37.84%
P/E (x)
18.33x
P/B (x)
1.71x
Dividend Yield %
0.56%
11.01x
Mar 2026
EPS (₹)
10.62
Book Value (₹)
88.33
Dividend per Share (₹)
0.75
Cash EPS (₹)
12.43
Operating Margin %
15.46%
Net Margin %
10.76%
ROE %
12.73%
ROCE %
17.21%
9.56%
Debtor Days
114
Inventory Days
84
Payable Days
84
114
Debt to Equity (x)
0.07x
Interest Coverage (x)
23.92x
2.81x
Revenue Growth %
27.51%
Operating Profit Growth %
44.81%
Net Profit Growth %
44.96%
44.96%
P/E (x)
11.79x
P/B (x)
1.42x
Dividend Yield %
0.60%
7.15x

Shareholding Pattern

Numbers in percentages

TRADES
Jun 2024
63.61
0.26
0.04
Government
0.00
36.09
Sep 2024
63.61
0.32
0.05
Government
0.00
36.02
Dec 2024
63.61
1.75
0.06
Government
0.00
34.58
Mar 2025
63.61
1.85
0.00
Government
0.00
34.54
Jun 2025
63.61
2.52
0.00
Government
0.00
33.86
Sep 2025
63.65
2.78
0.01
Government
0.00
33.56
Dec 2025
63.65
1.88
0.01
Government
0.00
34.45
Mar 2026
63.65
1.87
0.01
Government
0.00
34.47
Jun 2026
63.65
0.20
0.01
Government
0.00
36.14

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