IPL

India Pesticides Limited

Agrochemicals manufacturer of technicals, formulations and specialty intermediates

Commodities›Chemicals›Fertilizers & Agrochemicals›Pesticides & Agrochemicals

indiapesticideslimited.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹126.99
Market cap
1,458 Cr
Stock P/E
13.5
P/B
1.45
Dividend yield
0.6%
ROE (FY26)
11.9%
ROCE (FY26)
15.5%
Operating margin (FY26)
14.4%
Debt / equity (FY26)
0.11
OCF / EBITDA (FY26)
35.5%
OCF / EBITDA (3Y)
47.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

IPL (India Pesticides) makes agrochemical active ingredients (called technicals) and formulations, selling to global agrochemical companies and in the Indian market, with a customer reach in more than 35 countries.

Company snapshot

15thBy market cap

Ranked among 23 companies in Pesticides & Agrochemicals.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

SegmentRevenue shareRevenuePBTAssets
0—0 Cr0 Cr—

What we see

Positives
  • ✓Debt-to-equity of 0.11x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Only 47% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales202 Cr151 Cr126 Cr220 Cr229 Cr172 Cr207 Cr275 Cr290 Cr225 Cr266 Cr252 Cr
Operating expenses (approx.)175 Cr118 Cr122 Cr192 Cr195 Cr146 Cr176 Cr230 Cr242 Cr188 Cr225 Cr216 Cr
EBITDA27 Cr33 Cr4 Cr28 Cr34 Cr27 Cr32 Cr45 Cr49 Cr38 Cr42 Cr35 Cr
OPM %13.4%21.9%3.0%12.8%14.7%15.4%15.3%16.4%16.8%16.7%15.7%14.1%
Other income4 Cr4 Cr4 Cr4 Cr5 Cr3 Cr3 Cr9 Cr5 Cr3 Cr4 Cr4 Cr
Interest0.88 Cr0.74 Cr1 Cr1 Cr0.87 Cr1 Cr1 Cr2 Cr1 Cr1 Cr3 Cr3 Cr
Depreciation4 Cr4 Cr4 Cr4 Cr4 Cr5 Cr5 Cr5 Cr5 Cr6 Cr5 Cr6 Cr
Profit before tax27 Cr32 Cr2 Cr27 Cr34 Cr23 Cr29 Cr47 Cr47 Cr34 Cr38 Cr31 Cr
Tax %26.5%26.2%47.3%26.9%22.9%30.8%24.6%25.8%32.7%33.1%19.2%26.2%
Net profit20 Cr24 Cr1 Cr19 Cr26 Cr16 Cr22 Cr35 Cr32 Cr23 Cr31 Cr23 Cr
EPS (₹)₹1.70₹2.09₹0.09₹1.69₹2.25₹1.40₹1.89₹3.03₹2.74₹1.97₹2.66₹1.98

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales—716 Cr885 Cr680 Cr829 Cr1,057 CrSign in free for the trailing twelve months
Operating expenses (approx.)—502 Cr688 Cr594 Cr709 Cr884 CrSign in free for the trailing twelve months
EBITDA—214 Cr197 Cr87 Cr120 Cr174 CrSign in free for the trailing twelve months
OPM %—29.9%22.3%12.7%14.4%16.4%Sign in free for the trailing twelve months
Other income—13 Cr13 Cr15 Cr15 Cr21 CrSign in free for the trailing twelve months
Interest—7 Cr7 Cr4 Cr5 Cr7 CrSign in free for the trailing twelve months
Depreciation—9 Cr11 Cr15 Cr18 Cr21 CrSign in free for the trailing twelve months
Profit before tax—212 Cr192 Cr82 Cr111 Cr166 CrSign in free for the trailing twelve months
Tax %—25.3%25.3%26.9%26.2%27.8%Sign in free for the trailing twelve months
Net profit—158 Cr143 Cr60 Cr82 Cr120 CrSign in free for the trailing twelve months
EPS (₹)—₹13.78₹12.46₹5.24₹7.14₹10.40Sign in free for the trailing twelve months
Dividend payout %—2.3%6.0%14.4%10.5%7.2%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital11 Cr12 Cr12 Cr12 Cr12 Cr12 Cr
Reserves378 Cr626 Cr762 Cr813 Cr887 Cr998 Cr
Borrowings30 Cr14 Cr4 Cr18 Cr52 Cr107 Cr
Other liabilities98 Cr140 Cr144 Cr158 Cr192 Cr219 Cr
Total liabilities517 Cr792 Cr921 Cr1,002 Cr1,143 Cr1,337 Cr
Fixed assets (net)120 Cr174 Cr248 Cr279 Cr327 Cr387 Cr
CWIP12 Cr44 Cr27 Cr58 Cr58 Cr68 Cr
Investments9 Cr17 Cr12 Cr12 Cr15 Cr19 Cr
Loans & advances—0 Cr0 Cr0 Cr0 Cr3 Cr
Inventories70 Cr140 Cr225 Cr208 Cr243 Cr287 Cr
Trade receivables214 Cr248 Cr262 Cr238 Cr344 Cr360 Cr
Cash & bank3 Cr16 Cr13 Cr10 Cr33 Cr27 Cr
Other assets89 Cr153 Cr134 Cr196 Cr123 Cr185 Cr
Total assets517 Cr792 Cr921 Cr1,002 Cr1,143 Cr1,337 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity83 Cr76 Cr45 Cr114 Cr3 Cr62 Cr
Cash from investing-83 Cr-133 Cr-24 Cr-120 Cr0.65 Cr-83 Cr
Cash from financing-4 Cr71 Cr-25 Cr3 Cr19 Cr36 Cr
Net cash flow-4 Cr14 Cr-4 Cr-2 Cr23 Cr15 Cr
Free cash flow (OCF − Capex)41 Cr-6 Cr-31 Cr37 Cr-61 Cr-30 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—33.5%25.6%10.3%12.2%15.5%
ROE %—24.8%18.5%7.3%9.1%11.9%
Debtor days—126108128151124
Inventory days—137148201186170
Days payable—9468919281
Cash conversion cycle—169188237245213
OCF / EBITDA %—35.5%23.0%131.7%2.3%35.5%
OCF / EBITDA % (3 years)———47.3%40.2%47.0%
Debt / equity0.080.020.00460.020.060.11
Current ratio3.304.124.644.003.313.19
Net debt / EBITDA—-0.0090-0.050.090.160.46