India Pesticides Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,369 Cr
- P/E
- 14.48
- ROE
- 12.52%
- PEG
- -2.47
- Price to sales
- 1.40
- Debt to equity
- 0.08
- 52W high / low
- ₹183 / ₹113
- Sales growth (5Y)
- 10.26%
- EBITDA margin
- 14.98%
- Net profit margin
- 11.30%
- Promoter holding
- 63.65%
- Sales (last year)
- ₹972 Cr
India Pesticides Limited is one of the globally operating agro-chemical manufactures in India, since 1984. The company is the sole Indian manufacturer and among the top five manufacturers globally for several Technicals, such as Folpet, Thiocarbamate Herbicide, and several other products [1]
Guidance scorecard · Q2 FY27 call
What India Pesticides's management guided
and where it ranks in Fertilizers & Agrochemicals
Fertilizers & Agrochemicals
RevenueQ2 FY27 call
0–10%- The company aims to at least maintain last year's revenue despite current challenges in H2 FY27, seeking to bridge the shortfall from H1 FY27.
- Export orders received for the coming quarter provide near-term growth support.
- New product registrations in regulated markets like the UK, Argentina, Europe, Australia, Brazil, and Canada are expected to expand geographical reach and customer base.
- The subsidiary's newly operational blocks are expected to contribute incremental turnover of INR 40-50 crores in H2 FY27, with a target asset turnover of 2x next year translating to approximately INR 80 crores incremental revenue.
- Next year, there will be a step-up in capex supporting capacity expansion, likely driving growth.
2 more points from India Pesticides's call on revenue
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MarginsQ2 FY27 call
FlatSee what India Pesticides said on margins — free account, 30 seconds.
CapexQ2 FY27 call
Planned- India Pesticides has ongoing expansion at the Hamirpur (Shalvis) plant, with 2 of the 10 planned blocks operational and 2 more expected early next year.
- The product portfolio for Hamirpur is being revisited due to geopolitical and supply chain challenges, focusing on flexible production and better product choices.
- Capex guidance for FY27: INR 40-45 crores for India Pesticides Limited and INR 80-90 crores for the subsidiary, lower than earlier guidance of INR 120-130 crores.
- Expectation of a capex step-up next year (FY28) to support growth.
- Capitalization of around INR 65 crores in the subsidiary during Q2 FY27, with asset turnover target of 2x next year, aiming for INR 80 crores incremental revenue.
2 more points from India Pesticides's call on capex
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FundraisingQ2 FY27 call
See what India Pesticides said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
Rising- India Pesticides Limited has received export orders worth about INR 100 crores from Europe and Australia; these orders are partially executed and partly to be executed in coming months.
- The company has a stream of about 8 products in the pipeline for registration across various countries including Europe, Australia, Brazil, and Canada, expected to expand their market reach.
- New approvals in the U.K. and Argentina have led to fresh market opportunities with expected first-year revenues of INR 20-25 crores from Argentina alone.
2 more points from India Pesticides's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Fertilizers & Agrochemicals
on management's own guidance
- Insecticides IndiaGood growth2
- Anya Polytech &Good growth1
- Madhya Bharat Agro ProductsGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
India Pesticides latest results (Sep 2026)
Revenue
₹229 Cr
-21% YoY
Net profit
₹18 Cr
-44% YoY
Operating margin
13%
EPS
₹1.6
India Pesticides shareholding (Sep 2026)
Promoters
63.65%
unchanged QoQ
FIIs
0.09%
−0.11 pp QoQ
DIIs
0.02%
unchanged QoQ
Public
36.24%
+0.10 pp QoQ
Peers
Fertilizers & Agrochemicals companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Anya Polytech & | 20–40% | Up 2%+ | ₹209 Cr | 25.0 |
| 2 | Insecticides India | 20–40% | Up 0–2% | ₹1,591 Cr | 13.0 |
| 3 | Madhya Bharat Agro Products | 20–40% | Flat | ₹9,124 Cr | 58.9 |
| 4 | 20–40% | Flat | ₹7,714 Cr | 39.2 | |
| 5 | 10–20% | Flat | ₹53,862 Cr | 33.7 | |
| 6 | 10–20% | Flat | ₹15,672 Cr | 8.2 |
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Pro shows every company guiding 40%+ revenue growth →Full Fertilizers & Agrochemicals rankingIndia Pesticides announcements
All announcements →- Financial resultsMajor development· Adverse for the businessIndia Pesticides reports unaudited results for quarter ended 30 September 2026
Financials of India Pesticides
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
India Pesticides
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 63.61% | 63.61% | 63.61% | 63.61% | 63.61% | 63.62% | 63.62% | 63.65% | 63.65% | 63.65% | 63.65% | 63.65% |
| FIIs + | 1.63% | 2.40% | 0.26% | 0.32% | 1.75% | 1.84% | 2.52% | 2.78% | 1.88% | 1.87% | 0.20% | 0.09% |
| DIIs + | 1.59% | 0.04% | 0.04% | 0.05% | 0.06% | 0.00% | 0.00% | 0.02% | 0.03% | 0.02% | 0.02% | 0.02% |
| Public + | 33.17% | 33.95% | 36.10% | 36.01% | 34.59% | 34.55% | 33.85% | 33.54% | 34.43% | 34.46% | 36.14% | 36.24% |
| No. of Shareholders | 98,758 | 95,758 | 99,882 | 1,05,600 | 1,07,461 | 1,06,974 | 1,00,628 | 95,314 | 95,456 | 93,551 | 94,075 | 95,430 |
Financials of India Pesticides
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 202 | 151 | 126 | 220 | 229 | 172 | 207 | 275 | 290 | 225 | 266 | 252 | 229 |
| YoY Sales growth | -19% | -31% | -36% | +9% | +13% | +14% | +64% | +25% | +27% | +31% | +29% | -9% | -21% |
| Expenses + | 175 | 118 | 122 | 192 | 195 | 146 | 176 | 230 | 242 | 188 | 225 | 216 | 198 |
| Operating Profit | 27 | 33 | 4 | 28 | 34 | 27 | 32 | 45 | 49 | 38 | 42 | 35 | 31 |
| OPM % | 13% | 22% | 3.0% | 13% | 15% | 15% | 15% | 16% | 17% | 17% | 16% | 14% | 13% |
| Other Income + | 4 | 4 | 4 | 4 | 5 | 3 | 3 | 9 | 5 | 3 | 4 | 4 | 3 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 3 | 3 | 2 |
| Depreciation | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 5 | 6 | 6 |
| Profit before tax | 27 | 32 | 2 | 27 | 34 | 23 | 29 | 47 | 47 | 34 | 38 | 31 | 25 |
| Tax % | 26% | 26% | 47% | 27% | 23% | 31% | 25% | 26% | 33% | 33% | 19% | 26% | 26% |
| Net Profit + | 20 | 24 | 1 | 19 | 26 | 16 | 22 | 35 | 32 | 23 | 31 | 23 | 18 |
| EPS in Rs | 1.69 | 2.08 | 0.09 | 1.69 | 2.25 | 1.40 | 1.89 | 3.03 | 2.74 | 1.97 | 2.66 | 1.97 | 1.60 |
Financials of India Pesticides
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales + | 649 | 716 | 885 | 680 | 829 | 1,057 | 972 |
| Sales growth | +10% | +24% | -23% | +22% | +28% | +3% | |
| Expenses + | 466 | 502 | 688 | 594 | 709 | 884 | 827 |
| Operating Profit | 183 | 214 | 197 | 87 | 120 | 174 | 146 |
| OPM % | 28% | 30% | 22% | 13% | 14% | 16% | 15% |
| Other Income + | 6 | 13 | 13 | 15 | 15 | 21 | 14 |
| Interest | 3 | 7 | 7 | 4 | 5 | 7 | 10 |
| Depreciation | 6 | 9 | 11 | 15 | 18 | 21 | 23 |
| Profit before tax | 180 | 212 | 192 | 82 | 111 | 166 | 127 |
| Tax % | 25% | 25% | 25% | 27% | 26% | 28% | |
| Net Profit + | 135 | 158 | 143 | 60 | 82 | 120 | 94 |
| EPS in Rs | 12.03 | 13.72 | 12.44 | 5.22 | 7.14 | 10.40 | 8.20 |
| Dividend Payout % | 3% | 5% | 6% | 14% | 11% | 7% |
Financials of India Pesticides
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 378 | 626 | 762 | 813 | 887 | 998 | 1,031 |
| Borrowings + | 30 | 23 | 13 | 26 | 60 | 110 | 87 |
| Other Liabilities + | 97 | 131 | 135 | 151 | 183 | 215 | 252 |
| Total Liabilities | 517 | 792 | 921 | 1,001 | 1,142 | 1,336 | 1,381 |
| Fixed Assets + | 124 | 174 | 248 | 279 | 328 | 388 | 450 |
| CWIP | 12 | 44 | 27 | 58 | 58 | 68 | 25 |
| Investments | 9 | 17 | 12 | 12 | 15 | 19 | 20 |
| Other Assets + | 372 | 557 | 633 | 651 | 741 | 861 | 886 |
| Total Assets | 517 | 792 | 921 | 1,001 | 1,142 | 1,336 | 1,381 |
Financials of India Pesticides
Cash Flows
Operating, investing and financing cash movement
| 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 | -30 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 70% | 61% | 47% | 157% | 22% | 59% |
Financials of India Pesticides
Ratios
Working capital efficiency and return ratios
| 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% |
Guidance history
How India Pesticides's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 0–10% | Flat | Planned | — | Rising |
| Q1 FY27 call → | 0–10% | Flat | Planned | None planned | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | Planned | — |
| Q3 FY26 call → | 20–40% | Flat | Planned | None planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
5 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,937 stocks |
|---|---|---|
| Last 12 months | −34.9% | 11% |
| Last 6 months | −28.0% | 5% |
| Last 3 months | −15.3% | 17% |
The price is 70.7% below its all-time high of ₹406.55 (2 Feb 2024). Stocks more than 20% below their peak have their score halved, so 10 became 5.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,937 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For India Pesticides: 0.4 × 11 + 0.4 × 5 + 0.2 × 17 = 10, halved to 5 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 13 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
India Pesticides: frequently asked questions
What is India Pesticides share price today?
India Pesticides last traded at ₹118.98, with a market capitalisation of ₹1,369 Cr and a P/E ratio of 14.5.
What were India Pesticides's latest quarterly results?
For the quarter ended Sep 2026, India Pesticides reported revenue of ₹229 Cr (-21% year on year) and net profit of ₹18 Cr, with an operating margin of 13%.
Is India Pesticides's profit growing?
Net profit was ₹18 Cr in Sep 2026 against ₹32 Cr in Sep 2025, a change of -44%.
What is India Pesticides's EPS?
India Pesticides's earnings per share for the quarter ended Sep 2026 was ₹1.6.
What is the promoter holding in India Pesticides?
Promoters held 63.65% of India Pesticides in Sep 2026 (unchanged versus Jun 2026).
How much do FIIs and DIIs hold in India Pesticides?
In Sep 2026, foreign institutional investors held 0.09% and domestic institutions (including mutual funds) held 0.02% of India Pesticides.
What is India Pesticides's ROE and ROCE?
India Pesticides's return on equity is 12.5% and its return on capital employed is 16.6%.
Does India Pesticides pay a dividend?
Yes. India Pesticides's dividend yield is 0.65% at the current price. The full payout history is on the India Pesticides dividends page.
Which sector does India Pesticides belong to?
India Pesticides is in the Fertilizers & Agrochemicals sector. Its peer comparison and sector ranking are on this page.
What did India Pesticides's management say on the latest earnings call?
Arthneeti's analysis of the Q2 FY27 earnings call covers revenue, margins, capex and fundraising guidance from India Pesticides's management.
How does Arthneeti AI analyse India Pesticides?
Arthneeti reads India Pesticides's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.
Continue your research
What India Pesticides's management said in earlier quarters
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