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Insecticides India Q1 FY27 Call: Revenue Down 12% to ₹612 Cr; ₹200 Cr Sotanala Capex on Track
Insecticides (India) reported a 12% YoY decline in Q1 FY27 revenue to ₹612 Cr from ₹691 Cr due to delayed and uneven monsoons impacting Kharif sowing and pesticide demand. EBITDA contracted by approximately 20% with EBITDA margins declining to 11.1%, while PAT margin fell to 7.2%. Gross margin improved to 31.6% (from 29.0%) led by higher contribution from premium Maharatna products, which comprised 64% of B2C sales. Management affirmed that the ₹200 Cr Sotanala capex is progressing with ₹70 Cr spent to date, after which annual capex will normalize to ₹30-40 Cr.
Confidence: HIGH
What changedThe company released its Q1 FY27 earnings call transcript detailing monsoon-led demand deferrals, premiumization traction, and execution timelines for its Sotanala plant.
Why it mattersDemonstrates product mix resilience with expanding gross margins despite revenue de-growth, while the ₹200 Cr capex (~16.5% of net worth) nears completion to support technicals manufacturing.
Q1 FY27 Revenue: INR 612 CrRevenue YoY Growth: -12%Gross Margin: 31.6%Sotanala Total Capex: INR 200 CrSotanala Capex vs Net Worth: ~16.5%Post-Expansion Maintenance Capex: INR 30-40 Cr
📅 Short termVolume recovery in Q2 depends on the distribution and intensity of August rains across core rice, cotton, and soybean growing states.
📈 Long termMargin profile and return ratios are poised to benefit as the investment cycle closes, maintenance capex drops to ₹30-40 Cr, and Sotanala capacity ramps up.
⚠ Risk flags
- Delayed monsoon and weather anomalies affecting seasonal pesticide application
- Crude and petroleum-linked raw material price volatility squeezing formulations margins
- Elevated inventory levels at the end of June due to deferred season start
Key Highlights
Q1 FY27 revenue declined 12% YoY to ₹612 Cr, while gross profit margin expanded from 29.0% to 31.6% on better product mix.
Maharatna and Focus Maharatna premium products contributed 64% of domestic B2C sales compared to 58% in Q1 FY26.
Total capex for the Sotanala facility is projected at ~₹200 Cr (₹50 Cr formulation, ₹150 Cr technical), with ₹70 Cr spent so far.
In-licensing revenue grew to ₹46 Cr (vs ₹36 Cr in Q1 FY26), while patented products dropped to ₹70 Cr (vs ₹97 Cr) due to lower Hachiman sales.
👀 What to Watch
Monitor Kharif application demand recovery in Q2/Q3 FY27 and track commercialization timelines for the Sotanala formulation unit expected by April-May next year.
Q1 FY27 PAT drops 24% to ₹44 Cr; Revenue down 12% on rainfall deficit
Insecticides (India) Limited reported a weak start to FY27, with Q1 revenue declining 12% YoY to ₹612 crore, primarily due to a rainfall deficit across India impacting agrochemical demand. While gross margins expanded by 240 bps to 31.6% through disciplined pricing, EBITDA fell 20% to ₹68 crore and PAT dropped 24% to ₹44 crore. The company is countering this by doubling its 'IIL Crop Solutions' (ICS) plots and launching new products like GRANUVIA in collaboration with Corteva Agriscience. Despite the quarterly dip, management remains focused on its 'premiumization' strategy targeting higher-margin Maharatna products.
Confidence: HIGH
What changedThe company experienced a double-digit decline in both top-line and bottom-line performance for Q1 FY27, reversing the growth trend seen in previous quarters due to adverse weather conditions.
Why it mattersThe results highlight the company's high sensitivity to monsoon patterns, which can disrupt the application window for pesticides. However, the margin expansion suggests that the shift toward premium products is providing some cushion against volume declines.
Q1 FY27 Revenue: ₹612 crQ1 FY27 PAT: ₹44 crRevenue vs TTM Revenue: ~28.6%Gross Profit Margin: 31.6%EBITDA Margin: 11.1%
📅 Short termThe stock may face downward pressure in the short term as the market reacts to the 24% decline in PAT and the impact of the rainfall deficit on Kharif season sales.
📈 Long termThe long-term outlook depends on the successful execution of the 'premiumization' strategy and the contribution of patented molecules, which management expects to yield margins over 50%.
⚠ Risk flags
- Monsoon dependency
- Seasonality of the agrochemical business
- Commodity price volatility affecting legacy product margins
Key Highlights
Revenue from operations decreased 12% YoY to ₹612 crore from ₹691 crore in Q1 FY26.
Profit After Tax (PAT) declined 24% YoY to ₹44 crore compared to ₹58 crore in the previous year.
Gross Profit margins expanded by 240 bps YoY to 31.6% through disciplined pricing actions.
Company plans to double the number of IIL Crop Solutions (ICS) plots from the current 36 covering 14 states.
Conducted over 3,600 farmer meetings and 1,400 demonstrations in Q1 FY27 to drive product adoption.
👀 What to Watch
Investors should monitor the recovery of demand in Q2 FY27, which is historically a high-revenue quarter (Sep 2025 revenue was ₹637.7 cr). Watch for the sales ramp-up of newly launched patented molecules like GRANUVIA and Spinoace to see if they can offset volume losses in legacy products.
Q1 FY27 PAT drops 24% to ₹43.87 Cr; Premium product share rises to 64%
Insecticides (India) reported a 12% YoY decline in Q1 FY27 revenue to ₹611.52 Cr, impacted by lower volumes in B2C and B2B segments. Despite the revenue dip, the company achieved a 240 bps improvement in Gross Profit Margin to 31.6%, driven by the 'premiumization' strategy where premium products now account for 64% of B2C sales. Net profit (PAT) fell 24% to ₹43.87 Cr, while EBITDA margins contracted to 11.1% from 12.2% YoY. Exports provided a bright spot, growing 48% YoY to ₹34 Cr.
Confidence: HIGH
What changedThe company faced a significant revenue and profit contraction in Q1 FY27, though it successfully improved its product mix towards higher-margin premium offerings.
Why it mattersThe shift toward 'Focus Maharatna' products (35-40% margins) is structurally improving the gross margin profile, but the company remains vulnerable to volume fluctuations in the domestic agrochemical market.
Q1 FY27 Revenue: ₹611.52 CrQ1 FY27 PAT: ₹43.87 CrGross Profit Margin: 31.6%Premium B2C Share: 64%Revenue vs TTM Revenue: 28.6%
📅 Short termThe stock may face downward pressure in the short term due to the double-digit decline in both revenue and net profit.
📈 Long termThe long-term outlook depends on the success of the R&D pipeline (27 patents) and the ability to scale premium products to offset generic price volatility.
⚠ Risk flags
- Significant decline in B2B segment revenue
- Dependence on monsoon patterns for domestic volumes
- Contraction in EBITDA margins
Key Highlights
Revenue from operations declined 12% YoY to ₹611.52 Cr in Q1 FY27.
Profit After Tax (PAT) decreased by 24% YoY to ₹43.87 Cr from ₹58.11 Cr.
Premium product share in B2C segment increased to 64% compared to 58% in Q1 FY26.
Gross Profit Margin expanded to 31.6% from 29.2% in the previous year's quarter.
Export revenue grew to ₹34 Cr, up from ₹23 Cr in Q1 FY26.
👀 What to Watch
Monitor the recovery of domestic B2C volumes in the upcoming quarters and the execution of the new collaboration with Corteva Agriscience for innovative crop solutions.
Q1 Net Profit drops 27% YoY to ₹41.83 Cr on 11% Revenue decline
Insecticides (India) Limited reported a weak start to FY27, with standalone revenue for Q1 ending June 30, 2026, declining 10.8% YoY to ₹616.48 Cr. Net profit fell more sharply by 27% YoY to ₹41.83 Cr, down from ₹57.30 Cr in the same period last year. The margin contraction was exacerbated by a significant jump in 'Purchase of Stock-in-Trade,' which rose to ₹76.71 Cr from ₹29.49 Cr YoY. While sequential performance improved (Revenue up 44% QoQ), the YoY decline suggests a challenging environment compared to the previous year's high base.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results, marking a double-digit decline in both revenue and profitability compared to the previous year's first quarter.
Why it mattersQ1 is a critical period for agrochemical companies due to the Kharif season; a 27% drop in profit indicates potential pricing pressure or volume loss in a key period, despite the company's long-term focus on high-margin patented molecules.
Standalone Revenue (Q1 FY27): ₹616.48 CrRevenue Growth (YoY): -10.8%Standalone Net Profit (Q1 FY27): ₹41.83 CrNet Profit Growth (YoY): -27.0%EPS (Q1 FY27): ₹14.38Stock-in-Trade Purchase: ₹76.71 Cr
📅 Short termThe stock is likely to face downward pressure in the near term as the market reacts to the YoY earnings miss and margin compression.
📈 Long termThe structural story depends on the successful shift toward 'Maharatna' products (35-40% margins) and R&D for patented molecules, though current results show cyclical headwinds.
⚠ Risk flags
- Significant increase in stock-in-trade costs
- Year-on-year revenue contraction
- Seasonality and monsoon dependency
Key Highlights
Standalone Revenue from operations decreased 10.8% YoY to ₹616.48 Cr from ₹691.37 Cr.
Standalone Net Profit fell 27% YoY to ₹41.83 Cr, resulting in an EPS of ₹14.38 vs ₹19.69 YoY.
Purchase of Stock-in-Trade surged 160% YoY to ₹76.71 Cr, impacting overall margins.
Consolidated results include subsidiary revenue of ₹57.09 Cr and a net profit of ₹2.89 Cr.
Finance costs increased to ₹4.65 Cr from ₹3.65 Cr in the year-ago quarter.
👀 What to Watch
Monitor the progress of the monsoon and its impact on Q2 application windows, as the company is sensitive to rainfall patterns. Investors should track if the 'premiumization' strategy and 'Maharatna' products can offset the current weakness in legacy product volumes.
Insecticides (India) FY26 Revenue Up 7% to ₹2,140 Cr; Premium Products Grow 24% in Q4
Insecticides (India) Limited reported a 7% year-on-year revenue growth to ₹2,140 crore for FY26, supported by a strong 19% growth in the final quarter. While EBITDA rose 3% to ₹227 crore, PAT saw a marginal decline to ₹139 crore primarily due to a ₹9 crore increase in deferred tax provisions. The company's focus on premiumization is evident, with EBITDA margins expanding from 6.8% to 10.6% over a three-year period, and ROCE improving to 16.1%. Management also announced the induction of next-generation leadership and the proposal of ESOPs to retain talent.
Key Highlights
Revenue from operations increased 7% YoY to ₹2,140 crore in FY26, with Q4 revenue growing by 19%.
EBITDA margins improved to 10.6% in FY26, up from 6.8% three years ago, while ROCE reached 16.1%.
Premium products saw a robust 24% growth in Q4; patented products contributed ₹322 crore to the annual top line.
The company plans a maintenance capex of ₹25-₹30 crore for FY27 following the completion of major projects.
New strategic initiatives include the launch of the 'Kaeros' platform and expanded partnerships with Corteva and Nissan.
👀 What to Watch
Investors should focus on the company's successful transition toward high-margin premium and patented products, which now represent a significant portion of revenue. The improving return ratios (ROCE and ROE) and disciplined capex plan suggest a strengthening balance sheet and better cash flow potential for FY27.
Insecticides (India) Q4 Revenue Up 19% to ‹426 Cr; FY26 PAT Dips 2% to ‹139 Cr
Insecticides (India) Limited reported a strong 19% YoY revenue growth in Q4FY26, reaching ‹426 crore, driven by a 24% increase in premium product sales. For the full year FY26, revenue grew 7% to ‹2,140 crore, though Profit After Tax (PAT) marginally declined by 2% to ‹139 crore. EBITDA margins saw a slight contraction from 11.1% to 10.6% due to a challenging operating environment marked by erratic rainfall. The company continues to focus on innovation-led growth, launching five new products in FY26 and expanding collaborations with global partners like Corteva.
Key Highlights
Q4 revenue increased by 19% YoY to ‹426 crore, supported by strong B2C and B2B traction.
Full-year FY26 PAT stood at ‹139 crore, a 2% decrease compared to ‹142 crore in FY25.
Premium products delivered robust growth of 24% during the final quarter of the fiscal year.
EBITDA for FY26 was ‹227 crore with a margin of 10.6%, down from 11.1% in the previous year.
Introduced 5 new products in FY26, bringing the total to over 25 launches in the last three years.
👀 What to Watch
While top-line growth is encouraging, the slight dip in PAT and margin contraction suggests cost pressures; watch for margin recovery in upcoming quarters. The shift towards a premium product mix and global collaborations remains a key long-term positive for the stock.
Insecticides (India) FY26 Revenue Hits ₹2,140 Cr; EBITDA Margins Expand 380 Bps to 10.6%
Insecticides (India) Limited reported a total turnover of ₹2,140 Cr for FY26, showcasing a successful transition toward a premium product mix. The company achieved significant margin expansion over a three-year period, with Gross Profit margins rising 840 bps to 31.5% and EBITDA margins reaching 10.6%. Capital efficiency also improved markedly, with ROCE climbing to 16.1% from 10.4% in FY23. The growth is underpinned by strategic collaborations with global players like Corteva and Nissan, and a B2C segment where premium products now contribute 58% of revenue.
Key Highlights
Total turnover for FY26 reached ₹2,140 Cr with 58% of B2C revenue coming from premium products.
EBITDA margins expanded by 380 bps to 10.6% and Gross Profit margins reached 31.5% in FY26.
Return on Capital Employed (ROCE) improved from 10.4% in FY23 to 16.1% in FY26.
Extensive distribution network includes 8,500+ distributors and 70,000+ retailers reaching 7.5 million farmers.
Strong R&D focus with 27 patents and a pipeline of new launches scheduled for FY27.
👀 What to Watch
Investors should monitor the company's ability to sustain margin expansion through its premiumization strategy and international collaborations. The structural improvement in return ratios (ROE/ROCE) makes it a compelling long-term play in the agrochemical sector.
Insecticides (India) FY26 Revenue Jumps 57% to ₹3,144 Cr; Announces New ESPS and Board Changes
Insecticides (India) Limited reported a robust 57% year-on-year growth in standalone revenue for FY26, reaching ₹3,144.17 crore. However, Profit After Tax (PAT) saw a marginal decline to ₹135.14 crore from ₹139.77 crore in FY25, impacted by a significant rise in finance costs and material expenses. The company also announced a new Employee Stock Purchase Scheme (ESPS) for 2,00,000 shares and a key management transition with Mr. Sanskar Aggarwal being appointed as a Whole Time Director.
Key Highlights
FY26 Standalone Revenue from operations increased to ₹3,14,417.11 lacs from ₹2,00,226.58 lacs in FY25.
Net Profit for the full year FY26 stood at ₹13,513.74 lacs compared to ₹13,976.56 lacs in the previous year.
Finance costs surged by 145% to ₹1,651.20 lacs in FY26 from ₹672.32 lacs in FY25.
Board approved IIL ESPS Scheme 2026 involving up to 2,00,000 equity shares with a 1-year lock-in period.
Management change: Mr. Sanskar Aggarwal appointed as Whole Time Director for 5 years following the resignation of Mrs. Nikunj Aggarwal.
👀 What to Watch
Investors should focus on the company's margin compression as the massive 57% revenue growth failed to translate into bottom-line growth. Monitor the impact of rising finance costs and the execution of the new management team in the North region.
Insecticides (India) FY26 Revenue Up 7% to ₹2,144 Cr; Net Profit Dips Slightly to ₹135 Cr
Insecticides (India) Limited reported a 7.1% year-on-year growth in revenue from operations, reaching ₹2,144.17 crore for FY26. However, net profit saw a marginal decline of 3.3%, coming in at ₹135.08 crore compared to ₹139.77 crore in the previous fiscal year, primarily due to a significant spike in finance costs. The board has approved a new Employee Stock Purchase Scheme (ESPS 2026) for 2,00,000 shares and announced key leadership transitions, including the appointment of Mr. Sanskar Aggarwal as a Whole Time Director.
Key Highlights
Total Income for FY26 stood at ₹2,156.28 crore, up from ₹2,009.49 crore in FY25.
Net Profit for the year decreased to ₹135.08 crore with an EPS of ₹46.68 (vs ₹47.61 in FY25).
Finance costs surged significantly to ₹16.51 crore in FY26 from ₹6.72 crore in the previous year.
Board approved ESPS 2026 involving up to 2,00,000 equity shares with a 1-year lock-in period.
M/s. T Jain & Associates appointed as Internal Auditors for a five-year term until 2031.
👀 What to Watch
Investors should monitor the company's ability to manage rising finance costs which impacted the bottom line despite healthy revenue growth. The management transition and new ESPS suggest a focus on long-term leadership stability and employee retention.
Insecticides (India) FY26 Revenue Grows 7% to ₹2,144 Cr; New ESPS Scheme Approved
Insecticides (India) Limited reported a 7.1% year-on-year growth in annual revenue for FY26, reaching ₹2,144.17 crore. However, net profit for the full year saw a marginal decline to ₹135.12 crore compared to ₹139.77 crore in FY25, with EPS dropping slightly to ₹46.48. The company also announced a new Employee Stock Purchase Scheme (ESPS) involving 2,00,000 shares and a transition in the board with the appointment of Mr. Sanskar Aggarwal as Whole Time Director.
Key Highlights
Annual revenue from operations increased to ₹2,144.17 crore in FY26 from ₹2,002.27 crore in FY25.
Net profit for FY26 stood at ₹135.12 crore, down slightly from ₹139.77 crore in the previous year.
Board approved IIL ESPS Scheme 2026 for up to 2,00,000 equity shares with a 1-year lock-in period.
Management transition: Mrs. Nikunj Aggarwal resigned as WTD; Mr. Sanskar Aggarwal appointed as WTD for 5 years.
Q4 FY26 revenue showed strong growth at ₹427.96 crore compared to ₹359.15 crore in Q4 FY25.
👀 What to Watch
Investors should note the steady top-line growth but monitor the slight compression in annual margins. The management transition and new ESPS scheme indicate a focus on long-term leadership and employee retention.
Insecticides (India) FY26 Revenue Up 7% to ₹2,144 Cr; New Whole Time Director Appointed
Insecticides (India) Limited reported a 7.1% year-on-year growth in annual revenue to ₹2,14,417 lacs for FY26, though net profit slightly declined to ₹13,513 lacs from ₹13,976 lacs in FY25. The company is undergoing a management transition with Mr. Sanskar Aggarwal appointed as Whole Time Director for five years following the resignation of Mrs. Nikunj Aggarwal. A new Employee Stock Purchase Scheme (ESPS 2026) for up to 2,00,000 shares was also approved to incentivize employees. Despite the top-line growth, margins were impacted by finance costs which more than doubled during the fiscal year.
Key Highlights
Annual revenue from operations increased to ₹2,14,417.11 lacs in FY26 from ₹2,00,226.58 lacs in FY25.
Net profit for the full year stood at ₹13,513.74 lacs, a slight decrease from ₹13,976.56 lacs in the previous year.
Finance costs rose sharply by 145% to ₹1,651.20 lacs compared to ₹672.32 lacs in FY25.
Board approved the IIL ESPS Scheme 2026, offering up to 2,00,000 equity shares with a 1-year lock-in.
Mr. Sanskar Aggarwal appointed as Whole Time Director effective May 28, 2026, for a 5-year term.
👀 What to Watch
Investors should monitor the company's ability to manage rising finance costs which are currently weighing on net margins despite healthy revenue growth. The management transition and new ESPS scheme suggest a focus on long-term leadership stability and employee retention.
Insecticides (India) FY26 Revenue Up 7% to ₹2,144 Cr; PAT Dips 3%; New ESPS Scheme Announced
Insecticides (India) Limited reported a 7.1% YoY growth in annual revenue to ₹2,144.17 crore for FY26, although net profit saw a marginal decline of 3.3% to ₹135.14 crore. The company's Q4 FY26 performance was stronger on the top line, with revenue jumping 19.1% YoY to ₹427.96 crore. The Board has approved a new Employee Stock Purchase Scheme (ESPS 2026) for up to 2,00,000 shares and announced a management transition with Mr. Sanskar Aggarwal appointed as Whole Time Director. However, a significant 145% surge in annual finance costs remains a point of concern for margin sustainability.
Key Highlights
Annual Revenue from operations increased to ₹2,14,417.11 lacs in FY26 from ₹2,00,226.58 lacs in FY25.
Net Profit for the full year FY26 stood at ₹13,513.74 lacs compared to ₹13,976.56 lacs in the previous fiscal.
Finance costs spiked to ₹1,651.20 lacs in FY26, up from ₹672.32 lacs in FY25.
Approved IIL ESPS Scheme 2026 involving the issuance of up to 2,00,000 equity shares with a 1-year lock-in.
Q4 FY26 revenue showed robust growth of 19.1% YoY, reaching ₹42,795.60 lacs.
👀 What to Watch
Investors should watch for the company's ability to manage rising interest expenses which are eating into profit margins despite healthy revenue growth. The management change and ESPS implementation indicate a focus on internal consolidation and long-term leadership.
Insecticides (India) FY26 Revenue Up 7% to ₹2,144 Cr; PAT Dips Slightly to ₹135 Cr
Insecticides (India) Limited reported a 7.1% year-on-year growth in standalone revenue for FY26, reaching ₹2,144.17 crore. Despite the top-line growth, annual net profit (PAT) saw a marginal decline of 3.3%, ending at ₹135.12 crore compared to ₹139.77 crore in FY25. The board also approved a new Employee Stock Purchase Scheme (ESPS) for 2,00,000 shares and announced the appointment of Mr. Sanskar Aggarwal as a Whole Time Director following the resignation of Mrs. Nikunj Aggarwal. Q4 FY26 performance was stronger in terms of revenue, which grew 19.2% YoY, though quarterly profit growth remained relatively flat at 2.4%.
Key Highlights
FY26 Standalone Revenue increased by 7.1% YoY to ₹2,14,417 lacs from ₹2,00,226 lacs.
Full-year Net Profit (PAT) declined by 3.3% to ₹13,511.74 lacs, with EPS dropping to ₹46.68 from ₹47.61.
Q4 FY26 Revenue showed robust growth of 19.2% YoY, reaching ₹42,795.60 lacs.
Board approved ESPS 2026 involving the issuance of up to 2,00,000 equity shares with a 1-year lock-in.
Management transition: Mr. Sanskar Aggarwal appointed as Whole Time Director for a 5-year term effective May 28, 2026.
👀 What to Watch
Investors should monitor the company's margin pressure, as the 7% revenue growth did not translate into profit growth for the full year. The strong Q4 revenue performance is a positive sign, but the management transition and ESPS implementation suggest a period of internal realignment.
Insecticides (India) FY26 Revenue Up 7% to ₹2,144 Cr; Board Approves New ESPS Scheme
Insecticides (India) Limited reported a 7.1% increase in annual revenue for FY26, reaching ₹2,14,417.11 lacs compared to ₹2,00,226.58 lacs in FY25. However, annual net profit saw a slight decline to ₹13,513.34 lacs from ₹13,976.56 lacs, primarily due to a significant jump in finance costs which rose from ₹672.32 lacs to ₹1,651.20 lacs. The board also approved a new Employee Stock Purchase Scheme (ESPS) for 2,00,000 shares and announced the appointment of Sanskar Aggarwal as a Whole Time Director.
Key Highlights
Annual revenue for FY26 grew to ₹2,14,417.11 lacs, up from ₹2,00,226.58 lacs in the previous year.
Q4 FY26 revenue showed strong growth at ₹42,795.60 lacs vs ₹35,914.51 lacs in Q4 FY25.
Full-year net profit margin contracted slightly, with PAT at ₹13,513.34 lacs vs ₹13,976.56 lacs YoY.
Board approved IIL ESPS Scheme 2026 involving the issuance of up to 2,00,000 equity shares with a 1-year lock-in.
Management transition: Mr. Sanskar Aggarwal appointed as Whole Time Director for 5 years following the resignation of Mrs. Nikunj Aggarwal.
👀 What to Watch
Investors should note the steady top-line growth but remain cautious about the impact of rising finance costs and interest expenses on the bottom line. The flat quarterly profit despite higher sales suggests margin pressure that warrants closer monitoring in upcoming quarters.
Insecticides (India) FY26 PAT Dips 3.3% to ₹135 Cr; Board Approves New ESPS Scheme
Insecticides (India) Limited reported a 7.3% year-on-year growth in total income for FY26, reaching ₹2,156.28 crore. However, net profit for the full year saw a slight decline of 3.3%, settling at ₹135.08 crore, primarily due to a significant spike in finance costs which more than doubled to ₹16.51 crore. The fourth quarter (Q4FY26) showed stronger revenue momentum with a 19.5% YoY increase, though profitability remained relatively flat. Additionally, the board has approved a new Employee Stock Purchase Scheme (ESPS) for 2,00,000 shares and announced key management changes including the appointment of Sanskar Aggarwal as Whole Time Director.
Key Highlights
Total Income for FY26 rose to ₹2,15,628 lacs from ₹2,00,949 lacs in FY25, a growth of 7.3%.
Net Profit (PAT) for FY26 decreased by 3.3% YoY to ₹13,507 lacs compared to ₹13,976 lacs.
Finance costs surged by 145% YoY to ₹1,651 lacs in FY26 from ₹672 lacs in FY25.
Q4 FY26 revenue from operations stood at ₹42,795 lacs, up 19.2% from ₹35,914 lacs in Q4 FY25.
Board approved ESPS 2026 for up to 2,00,000 equity shares with a mandatory 1-year lock-in period.
👀 What to Watch
Investors should monitor the company's ability to manage rising finance costs and interest burdens which are currently eating into profit margins. While revenue growth remains healthy, the slight dip in annual PAT suggests a need for better operational efficiency.
Insecticides (India) Launches GRANUVIATM for Paddy; Offers Up to 60 Days Pest Control
Insecticides (India) Limited has launched GRANUVIATM, a next-generation insecticide developed by Corteva Agriscience and exclusively supplied to IIL. The product targets Brown Plant Hopper (BPH) and Stem Borer in paddy crops, offering a significant 60-day control window for BPH. Since these pests can cause yield losses ranging from 20% to 60%, this high-efficacy product strengthens IIL's position in the massive Indian rice market. The launch is expected to enhance the company's premium product portfolio and improve farmer margins by reducing the frequency of chemical sprays.
Key Highlights
Exclusive supply agreement with global major Corteva Agriscience for the GRANUVIATM brand.
Provides long-duration control of Brown Plant Hopper for up to 60 days from application.
Targets pests responsible for 10% to 60% yield losses in Indian paddy cultivation.
Granular formulation reduces application costs and minimizes the number of required sprays.
Product launch strengthens IIL's existing portfolio of 125+ formulation products.
👀 What to Watch
Investors should view this as a positive development that enhances IIL's competitive moat in the paddy segment through exclusive international technology partnerships. Monitor the sales traction during the upcoming Kharif season to gauge the impact on the company's top-line growth.
Insecticides (India) Launches GRANUVIA™ for Paddy; Offers 60-Day Pest Control
Insecticides (India) Limited has launched GRANUVIA™, a next-generation insecticide for paddy crops, developed in exclusive collaboration with Corteva Agriscience. The product provides an industry-leading 60-day control period against Brown Plant Hopper (BPH) and 14 days against stem borer, pests that typically cause 20-60% and 10-30% yield losses respectively. This launch strengthens IIL's specialized formulation portfolio and aims to reduce farmer costs by minimizing the frequency of chemical interventions. The partnership with a global major like Corteva underscores IIL's strong distribution network and market positioning.
Key Highlights
Exclusive launch of GRANUVIA™ in India, developed by global research giant Corteva Agriscience.
Provides long-duration control of Brown Plant Hopper (BPH) for up to 60 days from application.
Targets pests responsible for significant paddy yield losses ranging from 20% to 60%.
Product is designed for easy application (broadcasting) at 30-35 days after transplanting.
Strengthens a portfolio that already includes 125+ formulation products and 21+ technical products.
👀 What to Watch
Investors should monitor the market uptake of this high-duration solution in the upcoming paddy season as it could drive margin expansion in the formulation segment. The exclusive tie-up with Corteva is a positive indicator of the company's ability to bring international technology to the Indian market.
Insecticides (India) Receives 20-Year Patent for Synergistic Insecticidal Combination
Insecticides (India) Limited has been granted a Patent of Addition by the Government of India for a synergistic insecticidal combination of Diafenthiuron and Acetamiprid. The patent covers the specific wettable powder formulation and the unique process used for its preparation. This patent is valid for a 20-year term effective from the original filing date of July 23, 2013. This development strengthens the company's intellectual property portfolio and provides a competitive edge in the crop protection market.
Key Highlights
Patent granted for a synergistic combination of Diafenthiuron and Acetamiprid in wettable powder form.
The patent includes protection for the specific process of preparing the insecticidal combination.
The term of the patent is 20 years, calculated from the filing date of July 23, 2013.
Grant issued by the Patent Office, Government of India, enhancing the company's R&D-led product pipeline.
👀 What to Watch
Investors should monitor the commercial contribution of this patented combination to the company's revenue and margins. This grant reinforces the company's focus on high-value, proprietary formulations over generic products.
Insecticides (India) Reports 8% Q3 Revenue Growth; 9M PAT Stands at ₹128 Crores
Insecticides (India) Limited (IIL) delivered a resilient performance in Q3 FY26 with 8% revenue growth, driven by volume expansion and B2B segment strength despite a challenging market. For the 9M FY26 period, revenue reached ₹1,714 crores, up 4% year-on-year, while PAT remained flattish at ₹128 crores due to increased finance and depreciation costs. The company is aggressively pursuing premiumization, with premium products now contributing 59% of the B2C portfolio. Management expects Q4 to remain under margin pressure but maintains a medium-term sustainable growth target of 8-10%.
Key Highlights
9M FY26 revenue increased to ₹1,714 crores from ₹1,641 crores, a growth of 4% YoY.
Gross profit for the 9-month period improved by 7% to ₹546 crores, though Q4 margins are expected to face pressure.
Premium products now account for 59% of the B2C segment, reflecting a strategic shift away from generics.
Launched 5 new products in 9M FY26, including SPARCLE and Altair, with 5 more planned for the upcoming Kharif season.
New manufacturing capacities at Dahej and Sotanala are on track to be operational by the end of FY26 and next Kharif respectively.
👀 What to Watch
Investors should focus on the company's transition toward high-margin premium products and the timely commissioning of the Dahej plant. While near-term margin headwinds persist, the growing share of 'Maharatna' brands and new global collaborations provide a positive medium-term outlook.
Insecticides (India) Q3 Revenue Up 8% to ₹385 Cr; PAT Drops 40% on Margin Pressure
Insecticides (India) Limited reported a mixed Q3 FY26, with revenue growing 8% YoY to ₹385 crore, driven primarily by the B2B segment. However, Profit After Tax (PAT) saw a sharp decline of 40% YoY to ₹10 crore, impacted by higher finance costs, depreciation, and a shift in product mix. For the nine-month period (9M FY26), revenue grew 4% to ₹1,714 crore, while PAT remained flat at ₹128 crore. Management attributed the margin compression to industry-wide headwinds and erratic rainfall affecting the high-margin B2C segment.
Key Highlights
Q3 Revenue from operations increased by 8% YoY to ₹385 crore.
Profit After Tax (PAT) for Q3 fell significantly by 40% YoY to ₹10 crore.
EBITDA margins contracted to 7.1% in Q3 FY26 from 8.6% in the previous year.
Gross profit margins moderated to 32.4% due to a higher B2B sales mix and industry pressures.
Launched 5 new products during 9M FY26, including Sparcle and Torry Super, to drive future growth.
👀 What to Watch
Investors should be cautious due to the significant decline in quarterly profitability and margin contraction. Monitor the company's ability to pass on costs and shift the mix back toward high-margin B2C products in upcoming quarters.
