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India Pesticides Limited (IPL)

📊 NSE: IPL 🏢 Pesticides / Agrochemicals - Indian 📅 Last Updated: 12/14/2025 7:57

📢 Recent Corporate Announcements

CRISIL Assigns ESG Score of 57 to India Pesticides for Fiscal 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Sep 2026, 03:15 PM

India Pesticides Limited informed stock exchanges that it has received an ESG rating assessment from CRISIL ESG Ratings. The company has been assigned a CRISIL ESG Score of 57. The evaluation is based entirely on the company's disclosures for Fiscal 2026 and other publicly available data. This is a standard regulatory intimation under SEBI LODR Regulation 30 with no direct impact on financial performance.

Assigned a CRISIL ESG Score of 57 by CRISIL ESG Ratings
Evaluation based on company disclosures for Fiscal 2026
Assessed by a SEBI-registered Category-I ESG Ratings Provider

💡 Track core operational metrics including PEDA plant expansion progress and technical capacity utilization in subsequent quarterly results.

India Pesticides Shareholders Approve All AGM Resolutions with >99.99% Votes

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Sep 2026, 05:24 PM

India Pesticides Limited (IPL) announced the scrutinizer's report and voting results for its 41st Annual General Meeting held on August 31, 2026. All six ordinary and special resolutions were passed with over 99.99% majority votes. The approved items included the adoption of FY26 financial statements, declaration of final dividend for FY25-26, and remuneration increases for whole-time directors Dr. Kuruba Adeppa and Dr. Udaya Bhaskar Mantripragada. Total voter turnout stood at 75.64%, with 8.71 crore shares polled out of 11.52 crore outstanding shares.

All 6 resolutions approved with ~99.99% favorable votes at the 41st AGM held on August 31, 2026
Shareholder turnout reached 75.64% with 8,71,07,667 votes polled out of 11,51,63,508 total shares
Special resolutions approved for increasing remuneration of Whole-Time Directors Dr. Kuruba Adeppa and Dr. Udaya Bhaskar Mantripragada
Adoption of FY26 standalone and consolidated financial statements and final dividend formally ratified

💡 Track subsequent filings for the final dividend dispatch timeline and operational progress on technical capacity utilization in upcoming quarterly results.

India Pesticides Concludes 41st AGM; Votes on Final Dividend and Executive Remuneration

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Aug 2026, 06:00 PM

India Pesticides Limited conducted its 41st Annual General Meeting on August 31, 2026, via video conferencing with 67 members in attendance. Key agenda items put to vote included the adoption of FY26 audited financial statements, approval of final dividend for FY26, and remuneration hikes for Whole-Time Directors Dr. Kuruba Adeppa and Dr. Udaya Bhaskar Mantripragada. Final voting results and the Scrutinizer's Report will be submitted within two working days.

41st Annual General Meeting held on August 31, 2026, with 67 shareholders attending via VC/OAVM
Resolutions transacted include FY26 financial statements adoption and declaration of final dividend
Special resolutions presented for increase in remuneration of Whole-Time Directors Dr. Kuruba Adeppa and Dr. Udaya Bhaskar Mantripragada
Scrutinizer's report and formal voting results to be declared within 2 working days

💡 Track the upcoming disclosure of formal voting results and the Scrutinizer's Report to confirm the approval of the FY26 dividend and director remuneration proposals.

IPL Q1 FY27 Earnings Call: Revenue Down 9.2% YoY to Rs 256 Cr, EBITDA Margin at 15.4%

🔴 NEGATIVE ⭐ 5/10

EARNINGS 📅 18 Aug 2026, 05:13 PM

India Pesticides Limited reported a 9.2% YoY decline in Q1 FY27 revenue to INR 256 crore, down from INR 282 crore in Q1 FY26, impacted by subdued domestic demand for herbicides like Pretilachlor due to deficit rainfall. EBITDA fell to INR 39 crore with margins compressing to 15.4% (vs 18.4% in Q1 FY26), and PAT stood at INR 23 crore compared to INR 35 crore. The company received EU Technical Equivalence approval for a key fungicide and continues to fund its Hamirpur expansion (2 of 10 blocks currently operational) via internal accruals, backed by a cash balance of INR 59 crore.

Q1 FY27 revenue declined 9.2% YoY to INR 256 cr vs INR 282 cr in Q1 FY26
EBITDA decreased to INR 39 cr with margin contracting to 15.4% from 18.4%
PAT fell to INR 23 cr (8.9% margin) compared to INR 35 cr in Q1 FY26
Export revenue reached INR 89 cr, contributing ~35% of total revenue
Cash balance stood at INR 59 cr with 2 out of 10 blocks operational at the Hamirpur facility

💡 Track the ramp-up of the Hamirpur multipurpose plant blocks and signs of margin recovery as Chinese dumping pressures and domestic inventory levels normalize.

India Pesticides Limited releases Q1 FY2027 earnings call recording

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Aug 2026, 04:29 PM

India Pesticides Limited (IPL) has released the audio recording of its earnings conference call for the quarter ended June 30, 2026. The call, held on August 13, 2026, follows the board's approval of the Q1 results on August 1, 2026. This is a standard regulatory disclosure under SEBI LODR regulations. Investors can access the recording on the company's website to review management's commentary on the quarter's performance and future outlook.

Earnings conference call held on August 13, 2026, at 12:30 P.M.
Financial results for the quarter ended June 30, 2026, were previously approved on August 1, 2026
Company maintains a TTM revenue of Rs 1,057 Cr as per latest financial context
Technical capacity utilization was reported at 73%+ in the preceding half-year period
PEDA plant expansion targeting 8,500 MT remains a key monitorable for growth

💡 Investors should listen to the recording for management updates on the PEDA plant expansion timeline and the impact of Chinese import pricing on current margins.

India Pesticides Reports 39% Export Contribution in FY26 Sustainability Report

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Aug 2026, 01:22 PM

India Pesticides Limited (IPL) has released its Business Responsibility & Sustainability Report (BRSR) for FY 2025-26, confirming a total turnover of Rs 1,057 Cr. The company remains heavily focused on pesticide manufacturing, which accounts for 97% of its revenue, with a significant 39% derived from exports across 35 countries. While the company maintains a low debt-to-equity ratio of 0.08, the report highlights a high permanent employee turnover rate of 22.49%. Operational risks are centered on chemical and waste management, which are critical given the company's reliance on technical grade pesticides and global innovator clients.

Exports contributed 39% to the total turnover of Rs 1,057 Cr in FY 2025-26.
Pesticide manufacturing accounts for 97% of the company's total business activity.
The company serves 18 Indian states and 35 international countries from 2 manufacturing plants.
Permanent employee turnover rate increased to 22.49% in FY 2025-26 from 20.91% in the previous year.
Gender diversity remains low with only 1 female director (11.11%) and 0.98% female employees.

💡 Investors should monitor the company's ability to manage high employee turnover and track the progress of the PEDA plant expansion, which is expected to add Rs 250-300 Cr to revenue.

IPL Announces ₹0.75 Final Dividend; AGM Scheduled for August 31, 2026

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 05 Aug 2026, 01:10 PM

India Pesticides Limited (IPL) has issued a notice for its 41st Annual General Meeting (AGM) to be held on August 31, 2026. The board has recommended a final dividend of ₹0.75 per share for FY26, representing a payout of approximately 7.2% of the FY26 EPS of ₹10.40. Other key agenda items include a proposed 10% remuneration increase for two Whole-Time Directors, Dr. Kuruba Adeppa and Dr. Udaya Bhaskar Mantripragada. This comes as the company reported a TTM revenue of ₹1057 Cr and a PAT of ₹121 Cr.

Final dividend of ₹0.75 per equity share (75% of face value) recommended for FY26.
Proposed 10% increase in remuneration for Whole-Time Director Dr. Kuruba Adeppa from current ₹29.62 lakh.
Proposed 10% increase in remuneration for Whole-Time Director Dr. Udaya Bhaskar Mantripragada from current ₹34.67 lakh.
AGM to be held on August 31, 2026, via Video Conferencing/Other Audio Visual Means.
Cost Auditor remuneration for FY27 proposed at ₹2.25 lakh per annum.

💡 Investors should track the AGM voting results for management remuneration and look for updates on the PEDA plant expansion (8,500 MT target) in the full integrated annual report.

Aug 13: India Pesticides schedules Q1 FY27 earnings conference call

🟡 NEUTRAL ⭐ 2/10

EARNINGS 📅 03 Aug 2026, 04:47 PM

India Pesticides Limited (IPL) has scheduled its Q1 FY27 earnings conference call for August 13, 2026, at 12:30 PM IST. The management, including the CEO and CFO, will discuss the unaudited financial results for the quarter ended June 30, 2026. This follows a strong FY26 performance where the company achieved a revenue of Rs 1,056.54 Cr and a PAT of Rs 120.52 Cr. Investors will likely seek updates on the PEDA plant expansion and the company's progress toward its long-term revenue targets.

Earnings conference call scheduled for August 13, 2026, at 12:30 PM IST
Discussion to cover unaudited standalone and consolidated results for the quarter ended June 30, 2026
Management representation by CEO Mr. D. K. Jain and CFO Mr. S. P. Gupta
Universal access dial-in numbers provided: +91 22 6280 1116 and +91 22 7115 8017

💡 Monitor the Q1 FY27 results release on or before August 13 and listen for management commentary regarding the PEDA plant's 75% utilization target and CR-DMO segment growth.

34.3% PAT Decline in Q1 FY27; IPL Reports Margin Pressure Amid Weak Domestic Demand

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 02 Aug 2026, 01:36 PM

India Pesticides Limited (IPL) reported a weak Q1 FY27 with revenue declining 9.2% YoY to ₹256 Cr and PAT falling 34.3% to ₹23 Cr. Profitability was significantly impacted by softer domestic demand for Pretilachlor (herbicide) and elevated channel inventory, causing EBITDA margins to contract from 18.4% to 15.4% YoY. Despite domestic headwinds, the company achieved a milestone with EU Technical Equivalence (TEQ) approval for a fungicide, and exports remained stable at 35% of revenue. The company is maintaining its focus on the Hamirpur expansion, which provides a pathway to add 30,000 MTPA of capacity.

Revenue from operations decreased 9.2% YoY to ₹256 Cr, representing ~24% of TTM revenue.
Net Profit (PAT) dropped 34.3% YoY to ₹23 Cr due to higher employee and fuel costs.
EBITDA margins contracted by 300 bps YoY to 15.4% from 18.4% in Q1 FY26.
Customer concentration increased significantly, with the top 10 customers contributing 51% of revenue in Q1 FY27 vs 40% in FY26.
Hamirpur facility development is ongoing with 2 blocks operational and 2 more expected in FY2027.

💡 Monitor the execution timeline of the remaining 8 blocks at the Hamirpur facility and the recovery of domestic herbicide demand in upcoming quarters.

9.2% Revenue Decline in Q1 FY27; PAT Drops 34% to ₹23 Cr Amid Soft Herbicide Demand

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 02 Aug 2026, 01:34 PM

India Pesticides Limited (IPL) reported a weak start to FY27, with Q1 revenue declining 9.2% YoY to ₹256 Cr, primarily due to soft demand for its key herbicide, Pretilachlor. Profitability was significantly impacted as PAT fell 34.3% to ₹23 Cr, and EBITDA margins contracted by 300 bps to 15.4% from 18.4% in the year-ago period. While domestic sales were sluggish, export sales provided a slight cushion, growing 2.3% to ₹89 Cr. A notable operational milestone was the receipt of Technical Equivalence (TEQ) approval from the European Union for a fungicide product, which may support future international growth.

Revenue from operations fell 9.2% YoY to ₹256 Cr, representing approximately 24% of TTM revenue.
EBITDA declined to ₹39 Cr with margins contracting to 15.4% from 18.4% in Q1 FY26.
Profit After Tax (PAT) dropped 34.3% to ₹23 Cr compared to ₹35 Cr in the previous year's quarter.
Job work processing charges increased 75% to ₹14 Cr from ₹8 Cr due to higher conversion volumes.
Export sales grew marginally to ₹89 Cr, now accounting for 34.7% of total quarterly revenue.

💡 Investors should monitor the recovery in domestic demand for Pretilachlor and the impact of the new EU TEQ approval on export volumes in coming quarters. Key focus remains on margin recovery as the company manages higher fuel, employee costs, and channel inventory.

India Pesticides Q1 PAT Drops 35% YoY to ₹23.07 Cr; ₹7.10 Cr Tax Demand Contested

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 01 Aug 2026, 07:44 PM

India Pesticides Limited (IPL) reported a weak set of results for Q1 FY27, with Profit After Tax (PAT) declining 34.8% YoY to ₹23.07 Cr from ₹35.38 Cr. Sequentially, PAT fell 27.4% from ₹31.76 Cr in the preceding March quarter. The company is also navigating a legal challenge, having filed an appeal on July 24, 2026, against an income tax demand of ₹7.10 Cr (including interest) following a 2024 search operation. Earnings per share (EPS) for the quarter contracted to ₹2.00 from ₹3.07 in the year-ago period.

Net Profit for Q1 FY27 stood at ₹23.07 Cr, representing a 34.8% decline from ₹35.38 Cr in Q1 FY26.
Earnings Per Share (EPS) for the quarter fell to ₹2.00, compared to ₹3.07 in the corresponding previous year quarter.
The company is contesting a ₹7.10 Cr tax demand (net of ₹0.18 Cr already paid) resulting from an Income Tax search in December 2024.
Total tax expense for the quarter decreased to ₹8.32 Cr from ₹12.24 Cr YoY, reflecting lower profitability.
The company filed an appeal against the tax demand order on July 24, 2026, with the Joint Commissioner (Appeals).

💡 Investors should monitor the outcome of the income tax appeal and track the recovery of operating margins, which appear under pressure. Watch for updates on the PEDA plant utilization, which is targeted at 75% to drive future growth.

IPL Obtains Fungicide Formulation Registration in Morocco, Marking Entry into New Market

🟢 POSITIVE ⭐ 5/10

REGULATORY 📅 29 Jul 2026, 05:01 PM

India Pesticides Limited (IPL) has successfully obtained registration for a fungicide formulation in Morocco, effective July 29, 2026. This marks the company's official entry into the Moroccan agrochemical market, supporting its stated strategy of expanding into regulated international markets to hedge against domestic volatility. While the specific revenue potential for this single registration is not disclosed, it adds to IPL's existing footprint in 25 countries. The company is currently operating with a TTM revenue of ₹1,057 Cr and a technical capacity of 28,200 MT.

Obtained registration for 1 fungicide formulation in Morocco on July 29, 2026
Marks the company's first entry into the Moroccan agrochemical market
Company currently maintains registrations in 25 countries across Europe, Asia, and Australia
Technical capacity utilization reached 73% in H1 FY26, supporting international expansion
Formulations capacity was recently expanded to 10,000 MT as of June 2025

💡 Monitor upcoming quarterly results for the 'Export Revenue' segment to assess the commercial ramp-up and margin contribution from the Moroccan market.

India Pesticides Receives EU Approval for Fungicide Product

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 15 Jul 2026, 05:43 PM

India Pesticides Limited (IPL) has secured Technical Equivalence (TEQ) approval for a fungicide product in the European Union (EU) as of July 15, 2026. This regulatory milestone is part of the company's strategy to expand its export business in regulated markets, where it already has a presence in 25 countries. While the specific revenue contribution for this molecule is not disclosed, it aligns with the company's recent technical capacity expansion to 28,200 MT. The approval is expected to enhance foreign exchange earnings and provide a hedge against domestic agro-climatic volatility.

Received Technical Equivalence (TEQ) approval in the European Union for a Fungicide product on July 15, 2026
Company currently maintains registrations in 25 countries across Europe, Asia, and Australia
Technical manufacturing capacity stood at 28,200 MT as of June 2025, up from 24,200 MT
TTM revenue of Rs 1057 Cr with an operating profit margin of 16.5%
Promoter holding remains stable at 63.65% as of March 2026

💡 Watch for the commercial launch timeline of this fungicide in the EU and its impact on export margins in the next 2-3 quarters.

India Pesticides Receives EU Technical Equivalence Approval for Fungicide Product

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 15 Jul 2026, 04:25 PM

India Pesticides Limited (IPL) has secured Technical Equivalence (TEQ) approval for a fungicide product in the European Union (EU). This regulatory milestone allows the company to expand its export footprint into a high-value regulated market, supporting its strategy to hedge against domestic volatility. While the specific revenue potential for this molecule is not disclosed, the company is currently operating with a TTM revenue of Rs 1,057 Cr and a technical capacity of 28,200 MT. This approval aligns with IPL's goal of increasing technical utilization, which reached 73% in H1 FY26.

Received Technical Equivalence (TEQ) approval for a Fungicide product in the European Union (EU)
Approval date for the product registration is recorded as 29-05-2026
Company currently has registrations in 25 countries across Europe, Asia, and Australia
Technical capacity utilization reached over 73% in H1 FY26 as global destocking eased
TTM revenue stands at Rs 1,057 Cr with an operating profit margin of 16.5%

💡 Investors should monitor the growth in export revenue in the coming quarters to assess the commercial contribution of this EU approval. Additionally, watch for the utilization levels of the PEDA plant, which is targeted at 75% by next year.

India Pesticides Limited Submits Routine SEBI Depository Compliance for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jul 2026, 05:44 PM

India Pesticides Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. The certificate, issued by Kfin Technologies Limited (the Registrar and Share Transfer Agent), confirms that securities dematerialized or rematerialized during the quarter have been reported to the stock exchanges. This is a standard administrative filing required for all listed entities to maintain accurate shareholding records. It does not impact the company's financial position or business operations.

Compliance certificate issued for the quarter ended June 30, 2026
Registrar and Share Transfer Agent (RTA) identified as Kfin Technologies Limited
Confirmation provided for both NSDL and CDSL depository participants
Filing confirms that details of dematerialized securities were furnished to BSE and NSE

💡 This is a procedural filing. Investors should monitor the upcoming Q1 FY27 earnings results for updates on the PEDA plant expansion and technical capacity utilization, which reached 73% in H1 FY26.

View All IPL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Pesticides (Technical & Formulations) contributed 96% of total sales, while pharmaceutical intermediates contributed 4% in FY23. Total revenue for H1 FY26 grew 26% YoY to INR 579 Cr compared to INR 459 Cr in H1 FY25.

Geographic Revenue Split

Export revenue contributed ~38% in FY25 and ~40% in FY24. In H1 FY26, export revenue nearly doubled to INR 140 Cr, driven by growth in the technical business segment.

Profitability Margins

Gross margins were impacted by raw material price drops in FY24. PAT increased 37.7% from INR 61 Cr in FY24 to INR 84 Cr in FY25. H1 FY26 PAT reached INR 67 Cr, a 48% YoY increase with a PAT margin of 10.7%.

EBITDA Margin

EBITDA margin improved to 18.6% in H1 FY26 from 15.9% in FY25 and 14.6% in FY24. EBITDA for H1 FY26 stood at INR 108 Cr, up 53% YoY due to better operating leverage and cost efficiencies.

Capital Expenditure

Planned capex of INR 158 Cr over the next three financial years (FY26-FY28), to be funded via internal accruals. INR 52 Cr has already been deployed in H1 FY26 for IPL and Shalvis projects.

Credit Rating & Borrowing

Maintains a strong financial profile with an overall gearing of 0.01x as of March 31, 2023. Positive rating sensitivity is tied to achieving Total Operating Income (TOI) of INR 1,000 Cr while maintaining PBILDT margins above 20%.

⚙️ Operational Drivers

Raw Materials

Tetra Hydro Phthalic Anhydride (THPA), Ammonium Thiocyanate, Di N Propylamine, and Cyano Acetyl Ethyl Urea. Specific cost percentages per material are not disclosed.

Import Sources

Majorly imported from Taiwan and China, exposing the company to supply chain disruptions and price volatility in those regions.

Capacity Expansion

Technical capacity increased from 24,200 MT in June 2024 to 28,200 MT by June 2025. Formulations capacity expanded from 6,500 MT to 10,000 MT in the same period. PEDA plant is expanding to 8,500 MT.

Raw Material Costs

Raw material costs are highly volatile; FY23 margins moderated from 30.40% to 22.99% due to high inventory costs and sudden price declines. Natural hedging is used as exports exceed imports.

Manufacturing Efficiency

Technical capacity utilization moved up to over 73% in H1 FY26 as global destocking eased. PEDA plant utilization is targeted at 75% by next year.

Logistics & Distribution

Distribution network consists of over 4,700 dealers and 20+ sales depots across major Indian states including Gujarat, Maharashtra, and UP.

📈 Strategic Growth

Expected Growth Rate

26%

Growth Strategy

Achieving INR 1,000 Cr revenue target through capacity expansion (PEDA plant adding INR 250-300 Cr), increasing technical utilization to 73%+, and expanding CR-DMO engagements with global innovators.

Products & Services

Technical grade pesticides (primarily fungicides), pesticide formulations, and pharmaceutical intermediates.

Brand Portfolio

Captan Technical (leadership position), Folpet.

New Products/Services

Expansion into new molecules via R&D to reduce dependence on off-patent generic molecules; CR-DMO segment is in active discussions with global innovators.

Market Expansion

Targeting regulated markets for product registrations; currently registered in 25 countries across Europe, Asia, and Australia to hedge against domestic volatility.

Market Share & Ranking

Leadership position in Captan Technical (fungicide) globally.

Strategic Alliances

Active discussions with several global innovators for CR-DMO (Contract Research and Development Manufacturing Organization) engagements.

🌍 External Factors

Industry Trends

The agro-chemical industry is recovering from a period of global destocking and oversupply from China. IPL is positioning itself toward 'Zero Incident Culture' and sustainable procurement to attract ESG-conscious buyers.

Competitive Landscape

Faces intense pricing competition from Chinese manufacturers and domestic generic players; mitigating this through product diversification and regulated market registrations.

Competitive Moat

Moat is built on leadership in Captan Technical, a massive 4,700+ dealer network, and in-house R&D capabilities that allow for process optimization and new molecule development.

Macro Economic Sensitivity

Highly sensitive to agro-climatic conditions (monsoon) and global agro-chemical destocking cycles which impact demand and pricing.

Consumer Behavior

Shift toward environmentally conscious and sustainably sourced products; IPL is responding with a Sustainable Procurement Policy and 'red triangle' free technicals.

Geopolitical Risks

Exposure to political instability and trade policy changes in India and the 25+ countries of export; monitored by a dedicated Risk Management Committee.

⚖️ Regulatory & Governance

Industry Regulations

Subject to stringent product registration requirements in 25+ countries. Recent anti-dumping duties on specific intermediates have positively impacted the ability to generate margins.

Environmental Compliance

Adheres to 'Care the World with Care' principle; focuses on 'Zero Incident Culture' and ensuring no technicals fall into the 'red triangle' (highly toxic) category.