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INVESTMENT INSIGHTS

Check Before You Invest : India Pesticides Ltd

BSE: 543311 NSE: IPL ISIN: INE0D6701023
  |   Sector:  Chemicals & Fertilizers   |   Industry:  Pesticides & Agrochemicals

Snapshot

Q.1 Which industry/sub-sector does India Pesticides Ltd belong to?
India Pesticides Ltd belongs to the Chemicals & Fertilizers sector, operating specifically within the Pesticides & Agrochemicals segment.
Q.2 Is India Pesticides Ltd a good quality company?
India Pesticides Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

Q.3 Is India Pesticides Ltd undervalued or overvalued?
India Pesticides Ltd appears Undervalued, as its key valuation ratios are lower than their past averages.

Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more.

Valuation Ratios Current 5-year
Historic Median
Price to Earnings 18.12 25.72
Price to Book 2.08 3.27
Price to Sales 2.05 3.49
EV to EBITDA 10.6 16.77
Q.4 Is India Pesticides Ltd a good buy now?
India Pesticides Ltd is a good buy now, based on strong price trend analysis suggesting prices may rise. However, you need to check its quality and valuation before making a decision

Performance Analysis

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

A: What are the trends in revenue and profit margins?

Q.1 Revenue growth of India Pesticides Ltd?
India Pesticides Ltd revenue growth is 21.8% for FY-2025, which is above its 5-year CAGR of 11.57%, indicating faster growth.

Q.2 Gross Profit margin of India Pesticides Ltd?
India Pesticides Ltd Gross profit margin which is the profit after deduction of direct costs, is 15.9% for FY-2025, which is below its 5-year median of 22.7%, indicating decreasing margins.

Q.3 Operating Profit Margin of India Pesticides Ltd?
India Pesticides Ltd Operating Profit Margin which is the profit after deduction of all operating costs, is 14.57% for FY-2025, which is below its 5-year median of 22.32% indicating decreasing margins.

Q.4 Net Profit Margin of India Pesticides Ltd?
India Pesticides Ltd Net Profit Margin is 10.18% for FY-2025, is below its 5-year median of 16.32%, indicating decreasing margins.
Current Level 5-year
Historic Median
Gross Profit Margin (%) 15.9 22.7
Operating Profit Margin (%) 14.57 22.32
Net Profit Margin (%) 10.18 16.32

B: Does the business utilize capital efficiently?

Q.5 Return on Asset of India Pesticides Ltd?
India Pesticides Ltd Return on Asset is 7.67%, which is below its 5-year historical median of 16.06%, indicating deteriorated asset utilization efficiency.

Q.6 Return on capital employed (ROCE) of India Pesticides Ltd?
India Pesticides Ltd Return on capital employed is 13.1% for FY-2025, which is below its 5-year historical median of 27.87%. The current ROCE is below its estimated weighted average cost of capital (WACC) of 14%, indicating value preservation.

Q.7 Return on Equity (ROE) of India Pesticides Ltd?
India Pesticides Ltd Return on equity is 9.75% for FY-2025, which is below its 5-year historical median of 20.44%, indicating the business is making worse use of its shareholders capital.

Q.8 Cash conversion cycle of India Pesticides Ltd?
India Pesticides Ltd Cash conversion cycle is 172 days, above its 5-year historical median of 130 days, indicating deteriorated working capital management. However, you need to compare this with its peers in the industry.
Current Level 5-year
Historic Median
Asset Turnover (x) 0.75 1
ROE (%) 9.75 20.44
ROCE (%) 13.1 27.87
Cash Conversion Cycle 172 days 130 days

C: How much debt does the business have and is it at a sustainable level?

Q.9 Debt to Equity ratio of India Pesticides Ltd?
India Pesticides Ltd Debt-to-Equity ratio is 0.06, which is lower the industry average of 0.27, indicating lower debt levels in the industry.

Q.10 Debt to cash flow from operations of India Pesticides Ltd?
India Pesticides Ltd Debt to cash flow from operations is 8.66, which is at a unhealthy level.

Ownership & governance

D: Promoter shareholding and pledge status of India Pesticides Ltd?

Q.1 Promoter shareholding and pledge status of India Pesticides Ltd?
Promoters hold 63.65% of the India Pesticides Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Peer comparison (industry-wise, mcap)

E: How does India Pesticides Ltd performance compare with that of its Peers?

Q.1 Revenue growth of India Pesticides Ltd vs industry peers?
India Pesticides Ltd revenue CAGR is 11.57%, compared to the industry median CAGR of 8.45%, indicating faster growth and gaining its market share.
Profit Metrics
Current Level 5-year
Industry Median
Revenue Growth (%) 21.8 8.5
Gross Profit Growth (%) 33.3 13.9
Operating Profit Growth (%) 39.1 14
Net Profit Growth (%) 37.7 14.9
Operating Efficiency
Current Level 5-year
Industry Median
Asset Turnover (x) 0.75 1.19
ROE (%) 9.75 13.63
ROCE (%) 13.1 16.98
Cash Conversion Cycle (days) 172.14 93

Valuation & price assessment

Q.1 Stock return of India Pesticides Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of -6.76% based on the current price.
9Y 5Y 3Y 1Y
Share Price
CAGR		 - - -6.8% 27.2%
Q.2 Valuation ratios of India Pesticides Ltd vs historical?
The current P/E ratio of 18.12 is lower than its historical median of 25.72, indicating that the stock is trading below its historical average valuation.
Q.3 How do the current valuation ratios compare with 5-year historical median and industry numbers?
Valuation Ratios Current 5-year
Historic Median		 5-year
Industry Median
Price to Earnings 18.12 25.72 24.78
Price to Book 2.08 3.27 2.67
Price to Sales 2.05 3.49 1.43
EV to EBITDA 10.6 16.77 12.86

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