Insecticides (India) Limited (IIL) is an India-based agrochemicals company, originally incorporated as 'Insecticides (India) Private Limited' on 18th December 1996, and later converted to a public limited company. The company commenced commercial production in March 2002 at its Chopanki Unit in Rajasthan with an installed capacity of 29.40 lacs litres of EC and 2400 MTs of granules.
IIL operates two manufacturing units: one in Chopanki, Rajasthan, and another in Samba, Jammu & Kashmir, with the Samba unit commissioned in 2004. As one of India's leading crop protection and nutrition companies, IIL plays a significant role in the agricultural sector by providing essential solutions to farmers.
Insecticides India boasts a comprehensive portfolio of over 20 technical products and 125 formulation products, which include insecticides, herbicides, fungicides, and biological and PGR (Plant Growth Regulator) products. These are marketed under popular brands like Tractor, Green Label, Pulsor, Hakama, and others. The company's premium portfolio features 11 focused Maharatna products and 33 Maharatna products under brands such as Hercules, Lethal, Hachiman, and Shinwa.
The company operates across diverse agricultural segments, manufacturing crop protection chemicals for various applications. IIL caters to both the domestic Indian market, where it directly sells to end consumers, and also sells technicals and formulations to other companies in the formulation business. Demonstrating an expanding global footprint, the company exports to 30 countries with more than 100 customers, supported by over 75 registrations internationally.
As of the latest data, Insecticides India has a market capitalization of ₹2,456 crores (showing a 43.6% increase in one year), with revenue of ₹1,916 crores and profit of ₹134 crores for the latest financial year. The company maintains a strong promoter holding of 72.3%, indicating high confidence from its core ownership. The current market capitalization stands at ₹2,267 crores as of May 23, 2025.
The company demonstrated strong financial performance in recent quarters. In Q4 FY25, Insecticides India reported a significant 78.99% rise in net profit to ₹13.89 crores compared to the same period last year. This strong performance was driven by an 85% jump in profit and a 32% rise in revenue for the quarter, with profit after tax (PAT) reaching ₹142 crores for the full year.
• Revenue (FY25): ₹1,916 crores
• Net Profit (FY25): ₹134 crores
• Market Capitalization: ₹2,456 crores (as of latest data)
• Promoter Holding: 72.3%
• P/E Ratio: 18.4
• ROE (Return on Equity): 10.5%
• ROCE (Return on Capital Employed): 13.0%
Insecticides India has actively expanded its product portfolio by launching 11 new products in FY25. These include innovations based on the latest-generation patented technologies, aimed at capturing a higher market share in premium segments. A notable launch is Torry Super, a revolutionary post-emergence herbicide designed to redefine weed control while ensuring crop safety, showcasing IIL's dedication to R&D.
Recently, the company launched Altair, a patented pre-emergent herbicide for paddy, developed in collaboration with Nissan Chemical Corporation, aimed at improving weed management for Indian farmers. In 2014, the company established a new R&D center for product innovation at Chopanki in a joint venture with OAT Agi Agiro Co. from Japan, reinforcing its commitment to cutting-edge solutions.
The company bolstered its supply chain by acquiring Kaeros Research Pvt. Ltd., an initiative set to strengthen its operational capabilities and efficiency. Additionally, Insecticides India completed a buyback of 500,000 equity shares at ₹1,000 per share, totaling ₹50 crores, reflecting confidence in the company's prospects and commitment to enhancing shareholder value.
IIL has demonstrated remarkable financial resilience, achieving a record profit after tax margin of ₹128 crores, driven by a successful premiumization strategy that has significantly increased the share of premium products. With plans for multiple new product launches, especially in the innovative Maharatna range, management remains optimistic about future growth, particularly in the B2C segment, despite challenges in the B2B sector and global uncertainties affecting raw material procurement.
The company has expressed confidence in achieving double-digit growth in FY26 despite previous challenges. According to analyst recommendations, 100% of analysts recommend a 'BUY' rating for Insecticides India Ltd, with an average target price of ₹809.5, reflecting positive market sentiment.
The agrochemical industry in India is poised for sustained growth, driven by increasing agricultural productivity requirements and strong government support for the sector. While the company has maintained a relatively low return on equity of 10.1% over the last 3 years, indicating room for improvement in operational efficiency, its strategic focus on premium products and continuous innovation positions it well for future expansion and market leadership.
Insecticides India represents a significant player in India's crop protection market, backed by a strong product portfolio, expanding international presence, and unwavering commitment to innovation. The company's strategic emphasis on premium products, operational excellence, and ongoing product development makes it an attractive investment proposition within the burgeoning agrochemical sector.
