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IPL - India Pesticides

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

📢 Recent Corporate Announcements

India Pesticides Shareholders Approve Director Re-appointments with Over 99.99% Majority

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 09 Mar 2026, 01:36 PM

India Pesticides Limited (IPL) has successfully passed three special resolutions via postal ballot with near-unanimous shareholder support. The resolutions included the re-appointment of Dr. Madhu Dikshit as Chairperson and Mr. Mohan Vasant Tanksale as Independent Director for second five-year terms. Additionally, shareholders approved the regularization of Mr. Arun Kumar Jain as an Independent Director. The voting turnout was significant, with approximately 65.39% of total shares participating in the electronic voting process.

Dr. Madhu Dikshit re-appointed as Chairperson with 7,53,01,092 votes in favor (99.995%)
Mr. Mohan Vasant Tanksale's second 5-year term approved with 99.995% of valid votes cast
Mr. Arun Kumar Jain regularized as Independent Director with 99.996% shareholder approval
Total voting participation reached 65.39% of the 11,51,63,508 total equity shares

💡 The overwhelming support for these board appointments indicates strong shareholder confidence in the company's leadership and governance. Investors can expect continuity in strategic oversight as these experienced directors continue their tenures.

India Pesticides Q3 PAT Rises 33% YoY to ₹23.11 Cr; CEO Re-appointed for 5 Years

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 12 Feb 2026, 05:24 PM

India Pesticides Limited (IPL) reported a strong year-on-year performance for Q3 FY26, with revenue from operations growing 31% to ₹225.93 crore. Net profit for the quarter increased by 33% YoY to ₹23.11 crore, up from ₹17.36 crore in the same period last year. While YoY growth is robust, the company saw a sequential decline in both revenue and profit compared to Q2 FY26. Additionally, the board has ensured leadership stability by re-appointing Mr. Dheeraj Kumar Jain as CEO for a five-year term starting January 2026.

Revenue from operations increased 31.2% YoY to ₹225.93 crore in Q3 FY26.
Net Profit (PAT) grew 33.1% YoY to ₹23.11 crore from ₹17.36 crore in Q3 FY25.
9-month FY26 revenue reached ₹790.96 crore compared to ₹621.37 crore in the previous year.
9-month FY26 PAT stood at ₹90.53 crore, marking a 41.7% growth over 9M FY25.
CEO Dheeraj Kumar Jain re-appointed for a 5-year term effective January 23, 2026.

💡 The strong year-on-year growth and leadership continuity are positive indicators for long-term investors. However, the sequential (QoQ) decline in margins suggests investors should monitor input cost pressures in the upcoming quarters.

India Pesticides Limited Shares Q3 FY2026 Earnings Call Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Feb 2026, 12:17 PM

India Pesticides Limited has released the audio recording of its earnings conference call for the quarter ended December 31, 2025. The call was conducted on February 11, 2026, following the board's approval of the financial results on February 9, 2026. This disclosure is a standard regulatory requirement under SEBI LODR Regulations to ensure transparency for all shareholders. Investors can access the full recording on the company's official website to hear management's detailed commentary on the quarter's performance.

Earnings conference call for Q3 FY2026 was held on February 11, 2026
Financial results for the period ending December 31, 2025, were approved on February 9, 2026
Disclosure made in compliance with SEBI Regulation 30 and 46(2)(oa)
Recording link is now publicly available on the company's investor relations website

💡 Investors should listen to the recording to understand management's outlook on the agrochemical sector and specific volume growth targets for the remainder of FY2026.

India Pesticides Q3 FY26: PAT Jumps 41% to ₹23 Cr, Revenue Up 31% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 10 Feb 2026, 06:10 PM

India Pesticides Limited (IPL) delivered a strong performance in Q3 FY26, with revenue growing 31% YoY to ₹229 crore, primarily driven by a 32% surge in volumes. EBITDA rose 40% to ₹41 crore, with margins improving to 17.9% despite lower realizations due to price softening in certain molecules. The company is maintaining its growth momentum through a ₹116 crore Capex plan for FY26 and strategic backward integration. Additionally, the shift to renewable energy with a 6 MW solar plant at Sandila is expected to optimize operational costs.

Q3 FY26 Revenue increased 31% YoY to ₹229 Cr; 9M FY26 Revenue up 28% to ₹808 Cr.
PAT for the quarter grew 41% YoY to ₹23 Cr, with EBITDA margins expanding to 17.9%.
Overall volume growth of approximately 32% recorded in Q3 FY26, supported by strong order execution.
Budgeted Capex of ₹116 Cr for FY26 focused on Sandila and Hamirpur plant expansions.
Export sales grew to ₹96 Cr, led by demand in the European Union and Australia.

💡 Investors should take note of the robust volume growth and margin expansion despite global pricing pressures. The company's focus on backward integration and capacity expansion at Hamirpur provides a clear roadmap for long-term value creation.

India Pesticides Q3 FY26 Net Profit Jumps 41.2% to Rs 23 Cr; Revenue Up 30.7%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 10 Feb 2026, 05:29 PM

India Pesticides Limited reported a strong Q3 FY26 with revenue growing 30.7% YoY to Rs 229 crore, driven by a 32% increase in volumes across both domestic and export markets. Net profit rose significantly by 41.2% to Rs 23 crore, while EBITDA margins improved by 134 bps despite some price softening in certain molecules. The company's 9M FY26 performance remains robust with a 43.9% increase in net profit to Rs 89 crore. Strategic initiatives like the 6 MW solar plant and ongoing capex of Rs 46 crore highlight a focus on cost efficiency and capacity expansion.

Q3 FY26 Revenue grew 30.7% YoY to Rs 229 Cr, supported by 32% volume growth.
Net Profit for the quarter increased by 41.2% YoY to Rs 23 Cr with a PAT margin of 9.9%.
EBITDA for Q3 rose 40.0% YoY to Rs 41 Cr, with margins expanding by 134 bps.
Export sales grew to Rs 96 Cr from Rs 75 Cr, led by demand in the EU and Australia.
Technical & API segments remained the dominant contributors, accounting for 73% of total revenue.

💡 Investors should view the strong volume growth and margin expansion as positive indicators of operational efficiency and market demand. Monitor the progress of ongoing capacity expansions and the impact of price realizations in the upcoming quarters.

India Pesticides Re-appoints Dheeraj Kumar Jain as CEO for a 5-Year Term

🟢 POSITIVE ⭐ 7/10

MANAGEMENT 📅 09 Feb 2026, 07:47 PM

India Pesticides Limited (IPL) has officially re-appointed Mr. Dheeraj Kumar Jain as the Chief Executive Officer for a second consecutive five-year term. The new term is effective from January 23, 2026, and will extend until January 22, 2031. Mr. Jain is an industry veteran with over 50 years of experience, including more than 30 years with IPL. This move ensures leadership continuity as the company also approved its Q3 FY26 financial results during the same board meeting.

Re-appointment of Mr. Dheeraj Kumar Jain as CEO and KMP for a 5-year term ending January 2031
Mr. Jain brings over 50 years of industry experience and has been with the company for 30+ years
The board approved unaudited standalone and consolidated financial results for the quarter ended December 31, 2025
Leadership continuity is maintained as Mr. Jain has served as CEO since 2021

💡 Investors should view this leadership continuity positively, as it provides stability for the company's long-term R&D and manufacturing strategies. It is also recommended to review the detailed Q3 FY26 financial results released alongside this announcement.

India Pesticides Re-appoints CEO Dheeraj Kumar Jain for 5-Year Term; Approves Q3 FY26 Results

🟢 POSITIVE ⭐ 7/10

MANAGEMENT 📅 09 Feb 2026, 07:45 PM

India Pesticides Limited (IPL) has approved its unaudited financial results for the quarter ended December 31, 2025. A significant outcome of the board meeting is the re-appointment of Mr. Dheeraj Kumar Jain as the Chief Executive Officer for a second five-year term, effective from January 23, 2026, to January 22, 2031. Mr. Jain possesses over 50 years of industry experience and has been a key part of the company for more than 30 years. This leadership continuity is expected to provide strategic stability and support the company's ongoing research and manufacturing initiatives.

Re-appointment of Mr. Dheeraj Kumar Jain as CEO and KMP for a 5-year term ending January 2031.
Approval of Unaudited Standalone and Consolidated Financial Results for the quarter ended December 31, 2025.
CEO brings over 50 years of extensive industry experience, including 30+ years specifically with IPL.
The board meeting concluded at 7:00 p.m. IST on February 9, 2026, following a nearly two-hour session.

💡 Investors should review the detailed Q3 FY26 financial performance once the full report is available to assess growth trajectory. The re-appointment of an experienced CEO ensures management stability, which is a positive signal for long-term strategic execution.

India Pesticides Limited Reschedules Q3 FY26 Earnings Call to 4:00 PM on Feb 11

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Feb 2026, 06:07 PM

India Pesticides Limited (IPL) has announced a revision in the timing of its Q3 FY26 earnings conference call. The call, which was originally scheduled for February 11, 2026, at 12:30 PM IST, has been moved to 4:00 PM IST on the same day. The management team, including the CEO and CFO, will be present to discuss the financial results for the quarter ended December 31, 2025. This is a routine administrative update regarding investor relations activities.

Earnings conference call for Q3 FY26 rescheduled to February 11, 2026, at 4:00 PM IST
Original time was 12:30 PM IST on the same date
Management representation includes Directors, CEO Mr. D. K. Jain, and CFO Mr. S. P. Gupta
Universal access dial-in numbers provided are +91 22 6280 1116 and +91 22 7115 8017
International toll-free numbers available for Hong Kong, Singapore, USA, and UK

💡 Investors and analysts planning to attend the call should update their schedules for the new 4:00 PM IST start time. No fundamental change to the company's outlook is implied by this timing adjustment.

India Pesticides Proposes Re-appointment of Chairperson and Directors for 5-Year Terms

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 03 Feb 2026, 03:40 PM

India Pesticides Limited (IPL) has issued a postal ballot notice seeking shareholder approval for key leadership positions. The company proposes the re-appointment of Dr. Madhu Dikshit as Chairperson and Independent Director for a second five-year term starting December 21, 2025. Additionally, Mr. Mohan Vasant Tanksale is proposed for a second five-year term, and Mr. Arun Kumar Jain is proposed for a first five-year term as an Independent Director. The e-voting period for these resolutions is scheduled from February 5, 2026, to March 6, 2026.

Proposed re-appointment of Dr. Madhu Dikshit as Chairperson for a 5-year term until December 2030
Proposed re-appointment of Mr. Mohan Vasant Tanksale as Independent Director for a 5-year term
Appointment of Mr. Arun Kumar Jain as a Non-Executive Independent Director for a 5-year term until 2031
E-voting period set from February 5, 2026, to March 6, 2026, with results within 2 working days
Cut-off date for shareholder eligibility to vote was January 28, 2026

💡 Investors should monitor the voting results to ensure continuity in leadership and maintain confidence in the company's governance structure. No immediate portfolio changes are required as these are routine board re-appointments.

India Pesticides to Host Q3 FY26 Earnings Conference Call on February 11, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Feb 2026, 05:44 PM

India Pesticides Limited (IPL) has scheduled its earnings conference call for the third quarter of FY26 on February 11, 2026, at 12:30 PM IST. The call will involve senior management, including the CEO and CFO, discussing the un-audited standalone and consolidated financial results for the period ended December 31, 2025. This is a standard regulatory procedure following the conclusion of the quarter. Investors can participate via the provided DiamondPass link or universal dial-in numbers to gain insights into the company's performance.

Earnings call scheduled for February 11, 2026, at 12:30 PM IST.
Focus on un-audited financial results for the quarter ended December 31, 2025.
Management representation includes CEO Mr. D. K. Jain and CFO Mr. S. P. Gupta.
Universal dial-in numbers provided: +91 22 6280 1116 and +91 22 7115 8017.

💡 Investors should attend or review the transcript of the call to understand management's outlook on the agrochemical sector and margin sustainability. No immediate action is required as this is a routine scheduling announcement.

India Pesticides: Independent Director Adesh Kumar Gupta Completes Tenure

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 22 Jan 2026, 12:45 PM

India Pesticides Limited (IPL) has announced that Mr. Adesh Kumar Gupta has completed his first term as an Independent Director on January 22, 2026. Following the completion of this tenure, he has ceased to be a member and Chairman of various board committees. The company has placed on record its appreciation for his guidance during his term. This is a routine management transition as per SEBI regulations regarding director tenures.

Mr. Adesh Kumar Gupta (DIN: 00020403) ceased to be an Independent Director effective January 22, 2026.
The transition marks the completion of his first full term as an Independent Director.
He has also stepped down from his roles as Chairman and member of several Board Committees.
The company confirmed that the director was not debarred from holding office by any SEBI order.

💡 No immediate action is required as this is a routine regulatory cessation of tenure. Investors should monitor future filings for the appointment of a successor to maintain board strength.

India Pesticides Limited to Meet Elios Financial Services on January 22, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 19 Jan 2026, 03:30 PM

India Pesticides Limited (IPL) has announced a virtual one-to-one meeting with Elios Financial Services scheduled for January 22, 2026, at 3:00 PM. This meeting is part of the company's regular engagement with institutional investors and analysts. The company has explicitly stated that no Unpublished Price Sensitive Information (UPSI) will be shared during this session. Such interactions are standard procedure for listed entities to maintain transparency and provide business updates to the investment community.

One-to-one virtual meeting scheduled with Elios Financial Services.
Interaction set for January 22, 2026, at 15:00 hours.
Compliance disclosure under Regulation 30(6) of SEBI (LODR) Regulations, 2015.
Company confirmed that no Unpublished Price Sensitive Information (UPSI) will be discussed.

💡 No immediate action is required as this is a routine investor meeting; however, investors should watch for any subsequent investor presentations filed with the exchanges.

India Pesticides Gets BSE Approval to List 28.79 Lakh Equity Shares Under ESOP 2023

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 12 Jan 2026, 08:33 PM

India Pesticides Limited (IPL) has received in-principle approval from BSE Limited for the listing of up to 28,79,088 equity shares. These shares, with a face value of Rs. 1 each, are to be issued under the India Pesticides Employee Stock Option Plan 2023. The issuance is intended to incentivize and retain employees through equity participation. While this will lead to a marginal dilution of existing shareholding, it is a standard corporate practice for talent management.

Received in-principle approval from BSE for listing up to 28,79,088 equity shares.
Shares are being issued under the India Pesticides Employee Stock Option Plan 2023.
The equity shares have a face value of Rs. 1 per share.
BSE approval letter ref no: DCS/ESOP/IP/TS/3998/2025-26 dated January 12, 2026.

💡 No immediate action is required as this is a routine regulatory update for employee compensation. Investors should be aware of the minor future equity dilution as these options are exercised.

India Pesticides Receives BSE Approval for Listing 28.79 Lakh Shares Under ESOP 2023

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 12 Jan 2026, 06:16 PM

India Pesticides Limited has received in-principle approval from BSE Limited for the listing of up to 28,79,088 equity shares. These shares are being issued under the India Pesticides Employee Stock Option Plan 2023 to incentivize and retain employees. Each share has a face value of Rs. 1. This is a procedural step following the company's earlier establishment of the ESOP scheme.

Received in-principle approval for listing up to 28,79,088 equity shares
Shares are issued under the India Pesticides Employee Stock Option Plan 2023
The face value of each equity share is Rs. 1
Approval granted by BSE Limited via letter dated January 12, 2026

💡 No immediate action is required as this is a routine regulatory approval for an existing employee benefit plan. Investors should note the potential minor equity dilution as these options are exercised over time.

India Pesticides Appoints Former CBDT Chairman Arun Kumar Jain as Independent Director

🟢 POSITIVE ⭐ 4/10

MANAGEMENT 📅 12 Jan 2026, 03:48 PM

India Pesticides Limited has appointed Mr. Arun Kumar Jain, a former Chairman of the Central Board of Direct Taxes (CBDT), as an Additional Non-Executive Independent Director. Mr. Jain, a 1978 batch IRS officer, brings over four decades of experience in tax laws, financial analysis, and public administration. The appointment is for a five-year term, pending shareholder approval through a postal ballot process scheduled for February and March 2026. This high-profile appointment is expected to significantly strengthen the company's corporate governance and regulatory compliance framework.

Mr. Arun Kumar Jain, former CBDT Chairman and 1978 batch IRS officer, appointed as Independent Director for 5 years.
The appointee holds an M.Sc. in Mathematics (First Rank, Lucknow University) and an LL.B. degree.
Shareholder approval via postal ballot is scheduled with a remote e-voting period from February 5 to March 6, 2026.
Mr. Jain currently serves as an Independent Director at GHCL Limited, a company with an annual turnover of approximately ₹3,200 crore.

💡 Investors should view this as a positive development for the company's governance profile. No immediate action is required as this is a routine but high-quality board strengthening move.

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💰 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.