India Pesticides Limited (IPL) is an India-based agrochemical company, established in December 1984. Headquartered in Bareilly, Uttar Pradesh, India, the company specializes in the manufacture, sale, and distribution of a wide range of agrochemical products, including insecticides, fungicides, and herbicides. IPL stands as one of the globally operating agro-chemical manufacturers in India.
The company has solidified its position as a prominent player in the Indian agrochemical sector, boasting a unique distinction as the sole Indian manufacturer and among the top five globally for several Technicals such as Folpet and Thiocarbamate Herbicide. IPL maintains a robust presence in the domestic market while also actively exporting its products to over 70 countries worldwide.
As of June 24, 2025, India Pesticides Ltd (IPL) commands a market capitalization of ₹2,464.96 crore, with its stock trading at ₹215.70. The stock has experienced a 52-week high of ₹236.70 and a 52-week low of ₹119.79. Key valuation metrics include a P/E (price-to-earnings) ratio of 29.99 and a P/B (price-to-book) ratio of 2.99.
The company's financial performance for FY25 demonstrated notable strength. Net profit surged by 36.58% to ₹82.18 crore for the year ended March 2025, compared to ₹60.17 crore in the previous year. Concurrently, sales increased by 21.78% to ₹828.61 crore in FY25, up from ₹680.41 crore in FY24.
IPL's Q4 FY25 results were particularly impressive. Net profit skyrocketed by 1953.77% to ₹21.77 crore in the quarter ended March 2025, significantly higher than ₹1.06 crore in the corresponding quarter of the previous year. Sales also saw substantial growth, rising by 64.06% to ₹207.24 crore in Q4 FY25, compared to ₹126.32 crore in Q4 FY24.
The company's recent financial performance indicates consistent growth momentum, with net profit increasing for the last two quarters (₹16.07 Cr → ₹21.77 Cr), reflecting an average quarterly increase of 26.2%. Similarly, revenue has grown for the last two quarters (₹174.89 Cr → ₹210.52 Cr), with an average quarterly increase of 16.9%.
India Pesticides Limited is actively involved in the manufacturing of herbicide and fungicide technicals, as well as active pharmaceutical ingredients (APIs). Its diverse portfolio of technical products includes herbicides, fungicides, insecticides, and various intermediates. The company offers a comprehensive range of agrochemical solutions through its branded formulations.
Key formulations in its product lineup include IPL Dollar, IPL Vardan, IPL Vecto, IPL Trim WG, IPL-Sodhit DS, IPL-Sodhit WS, Captax-50, IPL Natraj, Sanjeevni, IPL Trim, IPL Talwar SC, and Carbine-50, among others. The overarching product portfolio encompasses Insecticides, Fungicides, Herbicides, Plant Growth Regulators, and Public Health Products, catering to diverse agricultural needs.
India Pesticides is actively pursuing strategic initiatives, including significant capacity expansion, to meet escalating market demand. The company has successfully expanded its PEDA production capacity to 6,000 MT annually and has plans to further increase it by 2,500 MT by Q2 FY26. Furthermore, its formulation capacity has been augmented by 3,500 MT, reaching 10,000 MT annually, supported by an investment of ₹2.80 crore.
A core focus of the company is on backward integration initiatives aimed at strengthening its supply chain. These strategic measures are designed to enhance operational efficiency, reduce reliance on imported raw materials, and ultimately improve margin sustainability.
The company maintains robust corporate governance practices, with a strong promoter holding of 63.6% as per the latest available data. Mr. Anand Swarup Agarwal serves as the Chairperson. The Equity Shares of the Company were allotted on July 01, 2021, and subsequently listed on July 05, 2021, on both BSE Limited and the National Stock Exchange of India Limited.
India Pesticides Limited has a consistent dividend policy aimed at rewarding shareholders. The company has fixed August 12, 2025, as the record date for the payment of a dividend of ₹0.75 per equity share of face value ₹1/- each for the financial year ended March 31, 2025. This final dividend, representing 75% of the face value, was recommended by the Board of Directors at its meeting held on May 26, 2025.
While the company demonstrates strong financial health in some areas, it has experienced a relatively poor sales growth of 11.6% over the past five years. Additionally, the company has recorded a low return on equity (ROE) of 12.2% over the last three years. India Pesticides also faces working capital challenges, evidenced by high debtors of 152 days.
Despite these challenges, the company benefits from a strong balance sheet, being almost debt-free. This financial position provides significant flexibility for future growth initiatives and operational requirements.
India Pesticides Limited is committed to expanding its market presence through continuous product innovation, strategic capacity expansion, and fostering partnerships, thereby reinforcing its position as a leading agrochemical manufacturer within India's dynamic agricultural sector.
