India Pesticides Limited
NSE: IPLPesticides & Agrochemicals
Share price
₹128.95
-0.83% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
63
out of 100 · worked out 9 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹1,547 Cr
P/E ratio
14.4
P/B ratio
1.5
ROCE
16.6%
ROE
12.5%
Dividend yield
0.6%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 17.0% over the past year, and 6.8% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 28.1% to 15.8% over the last four years.
Whether it grew faster than its sector
It grew 6.8% a year against a sector median of 10.2% — 3.4 percentage points slower.
Room to re-rate, or risk of de-rating
At 14.4× earnings against a market that pays 24.1× across 2199 companies we can price. Its own industry sits at 21.4×, across 5 companies. It is against its own five-year median of 25.3×, the 0th percentile of its own range.
Whether growth justifies the valuation
Its earnings are falling, so growth cannot justify the price.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| India Pesticides Limited — this one | -6%/yr | 14.4× | — |
| UPL Limited | -21%/yr | 20.9× | — |
| PI Industries Limited | -1%/yr | 29.4× | — |
| Sumitomo Chemical India Limited | 2%/yr | 36.4× | ₹18.2 |
| Bayer Cropscience Limited | 1%/yr | 21.4× | ₹21.4 |
| Sharda Cropchem Limited | 26%/yr | 10.4× | ₹0.40 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Pesticides & Agrochemicals), it ranks 9 of 23 on returns, 16 of 23 on growth, 7 of 23 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
A narrow advantage: it earns 16.6% on capital, ahead of 61% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
No — Over the last five years it made ₹301 crore of cash from the business but spent ₹389 crore on plant and equipment, ₹88 crore more than it made, paid from its own cash and investments. And the profit is real: of every 100 rupees it reported over 6 years, about 55 arrived as cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
8 of 10 checks clear · 80%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Announced 1 Aug 2026 · Consolidated
Revenue
₹252 Cr
Revenue vs last year
-8.5%
Revenue vs last quarter
-5.4%
Net profit
₹23 Cr
Profit vs last year
-34.9%
Profit vs last quarter
-26.5%
Net margin
9.0%
EPS
₹1.98
Earnings call transcript · 13 Aug 2026
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹1,547 Cr
- Prev close
- ₹128.95
- 52w High
- ₹208
- 52w Low
- ₹125
- Enterprise value
- ₹1,540 Cr
- Beta
- 1.4
- Price CAGR 1y
- -37.0%
- Price CAGR 3y
- -23.0%
- Price CAGR 5y
- -16.0%
- Price CAGR 10y
- —
Ratios
- Return on assets
- 9.0%
- PEG ratio
- -2.3
- P/E ratio
- 14.4
- P/B ratio
- 1.5
- EV / EBITDA
- 9.4
- Industry P/E
- 20.1
- ROCE
- 16.6%
- ROCE 5y average
- 21.6%
- ROE
- 12.5%
- Debt / Equity
- 0.1
- Interest coverage
- 24.7
- Dividend yield
- 0.6%
- ROE 3y average
- 10.0%
- ROE last year
- 13.0%
Annual P&L
- Annual revenue
- ₹1,057 Cr
- Annual profit
- ₹120 Cr
- Operating margin
- 16.0%
- Net profit margin
- 11.4%
- EBITDA margin
- 16.5%
- Sales growth 3y
- 6.1%
- Sales growth 5y
- 10.2%
- Profit growth 3y
- -6.0%
- Profit growth 5y
- -2.0%
- EPS
- ₹10.4
- Sales growth TTM
- 17.0%
- Profit growth TTM
- 9.0%
- Dividend payout
- 7.0%
Quarter P&L
- Sales latest quarter
- ₹252 Cr
- Profit latest quarter
- ₹23 Cr
- YoY quarterly sales growth
- -8.5%
- YoY quarterly profit growth
- -34.3%
- OPM latest quarter
- 14.1%
Balance Sheet
- Book Value
- ₹84.2
- Face Value
- ₹1.0
- Total debt
- ₹110 Cr
- Total cash
- ₹117 Cr
- Borrowings
- ₹110 Cr
- Reserves / Equity
- 83.2
Cash Flow
- Operating cash flow
- ₹62 Cr
- Free cash flow
- -₹30 Cr
- FCF yield
- -2.4%
- Net cash flow
- -₹97 Cr
Shareholding
- Promoter holding
- 63.6%
- FII holding
- 0.2%
- DII holding
- 0.0%
- Public holding
- 36.1%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| UPL | 495.00 | 21.1 | 41,773 | 1.21 | -73.0 | 92.6 | 10,181.0 | 10.5 | 10.1 |
| P I Industries | 2,210.00 | 31.0 | 33,530 | 0.68 | 244.2 | -39.0 | 1,702.3 | -10.4 | 15.0 |
| Sumitomo Chemi. | 421.95 | 36.9 | 21,061 | 0.31 | 216.5 | 9.3 | 1,054.1 | 0.6 | 23.5 |
| Bayer Crop Sci. | 3,491.50 | 21.4 | 15,692 | 4.30 | 321.6 | 15.4 | 1,835.0 | -4.2 | 29.1 |
| Sharda Cropchem | 742.05 | 10.7 | 6,695 | 2.02 | 88.0 | -38.3 | 1,073.8 | 9.0 | 30.3 |
| Dhanuka Agritech | 891.80 | 14.8 | 3,976 | 0.22 | 36.3 | -34.6 | 461.9 | -12.6 | 23.8 |
| Rallis India | 200.03 | 17.0 | 3,890 | 1.50 | 125.0 | 30.0 | 1,022.0 | 6.8 | 14.1 |
| India Pesticides | 130.39 | 13.9 | 1,502 | 0.58 | 22.8 | -34.8 | 251.8 | -8.5 | 16.6 |
| Median | 316.20 | 21.1 | 1,652 | 0.17 | 24.6 | 16.8 | 383.7 | -2.3 | 15.4 |
Competes with: Bayer Cropscience Limited, Dhanuka Agritech Limited, NACL Industries Limited, PI Industries Limited, Rallis India Limited, Sharda Cropchem Limited, Sumitomo Chemical India Limited, UPL Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 201 | 202 | 151 | 126 | 220 | 229 | 172 | 207 | 275 | 290 | 225 | 266 | 252 |
| Expenses | 179 | 175 | 118 | 122 | 192 | 195 | 146 | 176 | 230 | 242 | 188 | 225 | 216 |
| Material Cost | 169 | 174 | 131 | 142 | 185 | ||||||||
| Change in Inventories | -12 | -10 | -15 | 2.16 | -56 | ||||||||
| Purchases of Stock-in-Trade | 0 | 0 | 0 | 0 | 0 | ||||||||
| Employee Cost | 15 | 15 | 17 | 16 | 18 | ||||||||
| Other Expenses | 58 | 63 | 55 | 64 | 70 | ||||||||
| Operating Profit | 23 | 27 | 33 | 4 | 28 | 34 | 27 | 32 | 45 | 49 | 38 | 42 | 35 |
| OPM % | 11 | 13 | 22 | 3.03 | 13 | 15 | 15 | 15 | 16 | 17 | 17 | 16 | 14 |
| Other Income | 3 | 4 | 4 | 4 | 4 | 5 | 3 | 3 | 9 | 5 | 3 | 4 | 4 |
| Exceptional items (within Other Income) | 0 | 0 | 0 | 0 | 0 | ||||||||
| 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 % | 27 | 26 | 26 | 47 | 27 | 23 | 31 | 25 | 26 | 33 | 33 | 19 | 26 |
| Net Profit | 16 | 20 | 24 | 1 | 19 | 26 | 16 | 22 | 35 | 32 | 23 | 31 | 23 |
| EPS in Rs | 1.35 | 1.69 | 2.08 | 0.09 | 1.69 | 2.25 | 1.40 | 1.89 | 3.03 | 2.74 | 1.97 | 2.66 | 1.97 |
| Diluted EPS in Rs | 3.03 | 2.74 | 1.97 | 2.66 | 1.98 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Sales | 649 | 716 | 885 | 680 | 829 | 1,057 | 1,034 |
| Expenses | 466 | 502 | 688 | 594 | 709 | 884 | 870 |
| Material Cost | 616 | ||||||
| Change in Inventories | -35 | ||||||
| Purchases of Stock-in-Trade | 0 | ||||||
| Employee Cost | 64 | ||||||
| Other Expenses | 240 | ||||||
| Operating Profit | 183 | 214 | 197 | 87 | 120 | 174 | 164 |
| OPM % | 28 | 30 | 22 | 13 | 14 | 16 | 16 |
| Other Income | 6 | 13 | 13 | 15 | 15 | 21 | 16 |
| Exceptional items (within Other Income) | 0 | ||||||
| Interest | 3 | 7 | 7 | 4 | 5 | 7.39 | 8 |
| Depreciation | 6 | 9 | 11 | 15 | 18 | 21 | 22 |
| Profit before tax | 180 | 212 | 192 | 82 | 111 | 166 | 150 |
| Tax % | 25 | 25 | 25 | 27 | 26 | 28 | |
| Net Profit | 135 | 158 | 143 | 60 | 82 | 120 | 108 |
| EPS in Rs | 12 | 14 | 12 | 5.22 | 7.14 | 10 | 9.34 |
| Diluted EPS in Rs | 10 | ||||||
| Dividend Payout % | 3 | 5 | 6 | 14 | 11 | 7 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- —
- 5 years
- 10%
- 3 years
- 6%
- TTM
- 17%
Compounded profit growth
- 10 years
- —
- 5 years
- -2%
- 3 years
- -6%
- TTM
- 9%
Stock price CAGR
- 10 years
- —
- 5 years
- -16%
- 3 years
- -23%
- 1 year
- -37%
Return on equity
- 10 years
- —
- 5 years
- 15%
- 3 years
- 10%
- Last year
- 13%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 11 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 378 | 626 | 762 | 813 | 887 | 998 |
| Borrowings | 30 | 23 | 13 | 26 | 60 | 110 |
| Other Liabilities | 97 | 131 | 135 | 151 | 183 | 215 |
| Minority Interest | 0.51 | |||||
| Total Liabilities | 517 | 792 | 921 | 1,001 | 1,142 | 1,336 |
| Fixed Assets | 124 | 174 | 248 | 279 | 328 | 388 |
| CWIP | 12 | 44 | 27 | 58 | 58 | 68 |
| Investments | 9 | 17 | 12 | 12 | 15 | 19 |
| Other Assets | 372 | 557 | 633 | 651 | 741 | 861 |
| Total Assets | 517 | 792 | 921 | 1,001 | 1,143 | 1,337 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 83 | 76 | 45 | 115 | 3 | 62 |
| Cash from Investing Activity | -83 | -133 | -24 | -120 | -20 | -83 |
| Cash from Financing Activity | -4 | 71 | -25 | 3 | 19 | -76 |
| Net Cash Flow | -4 | 14 | -4 | -2 | 2 | -97 |
| Free Cash Flow | 41 | -6 | -30 | 38 | -61 | -29 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor Days | 120 | 126 | 108 | 128 | 152 | 124 |
| Inventory Days | 88 | 163 | 175 | 202 | 205 | 191 |
| Days Payable | 92 | 110 | 80 | 92 | 99 | 92 |
| Cash Conversion Cycle | 116 | 179 | 203 | 238 | 257 | 224 |
| Working Capital Days | 120 | 158 | 164 | 185 | 179 | 161 |
| ROCE % | 40 | 27 | 11 | 13 | 17 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
company capacity utilisation %
70.00pct
2026-06-30
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
exports as % of revenue
35.00pct
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
-7.00inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
38.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
3.25cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
93,88,188inr
2026-03-31
volume growth %
-13.00pct
2026-06-30
News
News and filings about India Pesticides Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Uses as raw material
- benzyl chloride
- carbon disulphide
- di-n-propylamine
- sodium thiocyanate
- tetrahydro phthalic anhydride
- toluidine
Depends on the price of
- fuel
Sells to
- Ascenza Agro S.A. · technicals
- Conquest Crop Protection Pty Ltd · technicals
- Sharda Cropchem Limited · agrochemical technicals (folpet / thiocarbamate)
- Stotras Pty Ltd · technicals
- Syngenta Asia Pte Ltd · technicals / fungicides
- UPL Limited · agrochemical technicals & formulations (technical herbicides/fungicides)
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Chemicals
- Industry
- Pesticides & Agrochemicals
- Classification
- Chemicals › Pesticides & Agrochemicals
- ISIN
- INE0D6701023
Plants
- Dewa Road manufacturing facility · Lucknow, Uttar Pradesh
- Sandila manufacturing facility · Hardoi, Uttar Pradesh
News impact
Big market events that reach India Pesticides Limited, and how the effect spreads.
30 Sept, 15:37 IST · Market event · high impact
IPL business demerger impact? Sun TV Network share price rallies 16%! Experts see 30% more upside | Target, stop-loss
Reports say Sun TV will spin its Sunrisers Hyderabad cricket team into a separate listing, sending its shares up 16% on value-unlocking hopes while rivals, suppliers, and mistakenly linked chemical firms stay unaffected.
Who it hits first
- Sun TV Network, the company behind Sun TV channels and owner of the Sunrisers Hyderabad cricket team, is reported to be splitting its IPL team business off separately.
- Its shares rallied 16% as investors bet the cricket team will be worth more on its own than buried inside the TV business.
- Market experts quoted in the story see 30% further upside if the demerger goes through.
Who may gain
- Sun TV Network shareholders (TV and cricket owners) — a separate team listing could unlock value hidden inside the combined firm
- The Sunrisers Hyderabad team as a standalone — its own price tag and investor base if the split goes through
- Sports-asset investors — a listed IPL team would offer a direct way to own cricket economics (only if confirmed)
Along the supply chain
Downstream
Downstream (viewers and advertisers): audiences watch the same matches and channels, so household and advertiser spending does not shift on a paper split.
Upstream
Upstream (show makers for the channels): TV serial and programme producers see no change, since spinning off the cricket team does not alter channel budgets or content orders.
Where demand moves
Business
Business demand barely moves: the same TV ads are sold and the same matches are played before and after a paper split, so no company wins new orders or customers from this news.
Capital
Investor capital is rushing into Sun TV shares, up 16%, betting a separate cricket listing will fetch a rich price, with experts talking of 30% more upside if the split is confirmed.
How it spreads across sectors
Chemicals
No ripple at all — pesticide makers appear here only through a mistaken ticker match with the cricket league's initials.
Media, Entertainment & Publication
A successful cricket-team listing could set a template for unlocking hidden sports assets inside other media firms, though no sales move between rivals.
When it plays out
Immediate
1–7 days: Sun TV shares stay volatile as traders wait for the company to confirm or deny the split reports.
Medium term
1–6 months: if approved, listing mechanics, record date, and the team's standalone valuation decide how much value is really unlocked.
Short term
1–4 weeks: focus shifts to board and regulatory clarity on whether a demerger is actually planned.
16 Sept, 10:49 IST · Market event · high impact
India Pesticides stock on fire! Agrochemical stock zooms 11% - what’s fuelling the rally?
India Pesticides won permits to sell a bug-killer in the UK and a weed-killer in Argentina, opening two new export markets; its shares jumped ~12%, while rival pesticide makers are barely affected.
Who it hits first
- India Pesticides gained legal approval to sell an insecticide product in the UK and a herbicide product in Argentina, two regulated export markets it could not sell into before.
- The market repriced the stock ~11.8% on the day; actual export orders and revenue will only follow once IPL signs distributors and customers in those markets.
Who may gain
- India Pesticides Limited (IPL) is the sole direct beneficiary — the registrations are company-specific and transfer no advantage to any peer.
Along the supply chain
Downstream
IPL supplies materials to UPL and Sharda Cropchem; an export tilt could marginally tighten IPL's domestic availability to them, but both source diversely so the effect is negligible.
Upstream
A future export ramp could lift IPL's demand for chemical inputs, packaging and freight, but no NSE-listed supplier is linked to IPL in the knowledge graph, so no upstream signal is emitted.
Where demand moves
Business
UK insecticide and Argentine herbicide demand can now flow to India Pesticides once it signs distributors and customers; no demand shifts to or from any listed peer.
Capital
No sector rotation is expected — the event is too small and company-specific to move investor money between agrochemical names.
How it spreads across sectors
Chemicals
Mild positive sentiment for Indian agrochemical exporters as proof that regulated overseas market access is winnable — but no earnings read-through beyond IPL itself.
When it plays out
Immediate
The stock already jumped ~12% on the news; expect choppy profit-taking over the next few days as traders digest that no orders or revenue numbers were disclosed.
Medium term
If export orders convert over 1-6 months, IPL's export revenue and margins grow and the stock can re-rate further; if orders stall, the gains fade like after past approvals.
Short term
Watch for distributor or customer announcements in the UK and Argentina over the coming weeks — the first export orders will decide whether the rally holds.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 24 Aug 2026 | unspecified | ₹0.75 |
|---|---|---|
| 12 Aug 2025 | unspecified | ₹0.75 |
| 12 Aug 2024 | unspecified | ₹0.75 |
| 17 Aug 2023 | unspecified | ₹0.75 |
| 11 Aug 2022 | unspecified | ₹0.75 |
Splits, bonuses & buybacks
- daily-prices repair: 8 rows from NSE's archive (replace 2, delete 1, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 16 Sep 2026 | NK SECURITIES RESEARCH PRIVATE LIMITED | BUY | 11,85,956 | ₹143.74 |
| 16 Sep 2026 | NK SECURITIES RESEARCH PRIVATE LIMITED | SELL | 11,85,956 | ₹143.80 |
| 16 Sep 2026 | MICROCURVES TRADING PRIVATE LIMITED | BUY | 10,17,557 | ₹145.06 |
| 16 Sep 2026 | MICROCURVES TRADING PRIVATE LIMITED | SELL | 10,17,557 | ₹145.19 |
| 16 Sep 2026 | SILVERLEAF CAPITAL SERVICES PRIVATE LIMITED | SELL | 8,67,949 | ₹144.48 |
| 16 Sep 2026 | SILVERLEAF CAPITAL SERVICES PRIVATE LIMITED | BUY | 8,67,949 | ₹144.36 |
| 16 Sep 2026 | QE SECURITIES LLP | BUY | 6,52,797 | ₹144.06 |
| 16 Sep 2026 | QE SECURITIES LLP | SELL | 6,51,691 | ₹144.16 |
| 16 Sep 2026 | IRAGE BROKING SERVICES LLP | BUY | 5,86,448 | ₹144.49 |
| 16 Sep 2026 | IRAGE BROKING SERVICES LLP | SELL | 5,59,661 | ₹144.65 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-261 Sep 2026
- Earnings call · Q1FY2713 Aug 2026
- Results presentation30 Jun 2026
- Earnings call · Q4FY2625 May 2026
- Earnings call · Q2FY2613 Nov 2025
- Earnings call11 Feb 2025
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.