INDOUS - Indo US Bio-Tech
Financial Performance
Revenue Growth by Segment
The company reported a standalone total income of INR 3,087.27 Lakhs for Q2 FY26, representing a growth of 39.14% YoY compared to INR 2,218.79 Lakhs in Q2 FY25. For the half-year ended September 30, 2025, revenue reached INR 6,164.38 Lakhs, up 31.34% from INR 4,693.36 Lakhs in H1 FY25.
Geographic Revenue Split
Not explicitly disclosed in percentage terms, but the company is headquartered in Ahmedabad, Gujarat, and is expanding its footprint through participation in the APSA Seed Congress 2025 to target global export markets.
Profitability Margins
Net Profit Margin for Q2 FY26 stood at 11.18%, a contraction from 19.65% in Q2 FY25. Net profit for Q2 FY26 was INR 345.21 Lakhs, down 20.81% YoY from INR 435.95 Lakhs, despite the revenue increase, suggesting significantly higher operational or input costs.
EBITDA Margin
Profit Before Tax (PBT) margin for Q2 FY26 was 11.53% (INR 355.89 Lakhs) compared to 20.04% (INR 444.58 Lakhs) in Q2 FY25, reflecting a decline in core operational profitability of approximately 851 basis points.
Capital Expenditure
Historical equity share capital remains stable at INR 2,005.20 Lakhs. Other equity (excluding revaluation reserves) was reported at INR 5,846.65 Lakhs as of March 31, 2025.
Credit Rating & Borrowing
Not disclosed in available documents; however, the company maintains a paid-up equity share capital of INR 2,005.20 Lakhs with a face value of INR 10 per share.
Operational Drivers
Raw Materials
Specific raw materials include parent seeds, foundation seeds, and agricultural inputs required for hybrid seed production, which constitute the primary cost of goods sold.
Import Sources
Primary sourcing and production activities are centered in Gujarat, India, with the registered office located in Ahmedabad.
Key Suppliers
Key related party suppliers and entities include Shree Patel Beej Nigam, Indo US Agriseeds Pvt. Ltd., Patel Beej Nigam, and Agri Pari E Commerce Pvt Ltd.
Capacity Expansion
The company is a DSIR-registered research-based seed entity. While specific MT capacity is not disclosed, it is actively showcasing new high-yield hybrid and research-based varieties at international forums like the APSA Seed Congress 2025.
Raw Material Costs
Not disclosed as a specific percentage of revenue, but the decline in net profit despite a 39% revenue jump in Q2 FY26 indicates a sharp rise in procurement or production costs.
Manufacturing Efficiency
Efficiency is driven by DSIR-registered R&D activities, focusing on high-yield varieties to improve output per acre for end-users.
Logistics & Distribution
Distribution is handled through a network of vendors and partners, including Agri Pari E Commerce Pvt Ltd for digital/modern trade reach.
Strategic Growth
Expected Growth Rate
31%
Growth Strategy
Growth is targeted through participation in the APSA Seed Congress 2025 to secure global partners and expand exports. The strategy focuses on launching high-yield hybrid varieties and leveraging its DSIR-registered R&D status to gain market share in the research-based seed segment.
Products & Services
High-yield hybrid seeds, research-based crop seeds, and various agricultural seed varieties.
Brand Portfolio
Indo Us Agriseeds, Indo Us Bio-Tech.
New Products/Services
The company is introducing new high-yield hybrid and research-based varieties; participation in global congresses suggests a focus on export-oriented seed technology.
Market Expansion
Expansion into global seed markets via the APSA Seed Congress 2025 held in Mumbai to connect with international partners.
Market Share & Ranking
Positioned as a leading DSIR-registered and NSE/BSE listed seed company in India.
Strategic Alliances
Collaborations with related parties like Indo US Agriseeds Pvt. Ltd. and Shree Patel Beej Nigam for production and distribution.
External Factors
Industry Trends
The industry is shifting toward biotech-enhanced and climate-resilient seeds. INDOUS is positioning itself as a technology-driven player by focusing on high-yield hybrids and global research trends.
Competitive Landscape
Competes with both domestic seed companies and multinational biotech firms in the hybrid seed segment.
Competitive Moat
The primary moat is the DSIR-registered R&D status and proprietary seed varieties, which provide a durable advantage through intellectual property and higher crop yields for farmers.
Macro Economic Sensitivity
Highly sensitive to agricultural GDP and rural income levels, which dictate the purchasing power of the primary consumer base (farmers).
Consumer Behavior
Farmers are increasingly shifting toward branded, high-yield research seeds over traditional varieties to ensure better ROI on farming inputs.
Geopolitical Risks
Trade barriers in global seed exports could impact the expansion plans showcased at the APSA Seed Congress.
Regulatory & Governance
Industry Regulations
Subject to Seed Act regulations, DSIR certification standards, and agricultural quality norms for hybrid seed production.
Environmental Compliance
The company complies with agro-based industry standards; specific ESG costs were not disclosed.
Taxation Policy Impact
The effective tax rate for H1 FY26 was approximately 2.67% (INR 22.43 Lakhs tax on INR 837.88 Lakhs PBT).
Legal Contingencies
No significant and material orders were passed by regulators, courts, or tribunals impacting the going concern status or future operations.
Risk Analysis
Key Uncertainties
Seasonal dependency and climate risk could impact seed production and sales by 15-20% in a poor monsoon year.
Geographic Concentration Risk
High concentration in Gujarat, with the registered office and primary operations based in Ahmedabad.
Third Party Dependencies
Significant reliance on related parties like Shree Patel Beej Nigam for operational arrangements.
Technology Obsolescence Risk
Risk of proprietary seed varieties being superseded by newer biotech innovations; mitigated by continuous R&D investment.
Credit & Counterparty Risk
Receivables quality is linked to the financial health of the agricultural distribution network.