MoneyWorks4Me

India Pesticides Ltd (IPL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543311 NSE: IPL Pesticides & Agrochemicals | Small Cap | India Pesticides Share Price

₹132.85 -0.15 (-0.11%)

As on 30-Sep'26 16:59

India Pesticides Ltd (IPL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543311 NSE: IPL Pesticides & Agrochemicals | Small Cap | India Pesticides Share Price

₹132.85 -0.15 (-0.11%)

As on 30-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,532 Cr.
Current Price
₹132.9
52-Week Low / High
₹125 / 214
TTM EPS
₹9.4
TTM Sales
₹1,034 Cr.
Book Value per Share
₹89.7
P/E Ratio
14.23
Lower than its 5-year historical median
Industry PE
27.5
Price to Book (P/B)
1.48
Lower than its 5-year historical median
Price to Sales (P/S)
1.48
Lower than its 5-year historical median
EV/EBITDA
8.46
Lower than its 5-year historical median
Dividend Yield
0.56%
Profitability Efficiency
Return on Equity (ROE)
12.56%
Return on Capital Employed (ROCE)
16.76%
Return on Assets (ROA)
9.26%
Operating Profit Margin
16.4%
Net Profit Margin
11.33%
Gross Profit Margin
19.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
27.51%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
45.03%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
45.8%
Asset Quality
Promoter Holding
63.65%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,021 Cr.
Equity
₹11.5 Cr.
Face Value
₹1
All Time Low / High
₹119.85 / 428.95

India Pesticides stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Undervalued

Price Trend

Weak
Q.1 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.

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.

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 10.26%, compared to the industry median CAGR of 1.96%, indicating faster growth and gaining its market share.
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.
Q.1 Stock return of India Pesticides Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of -15.56% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
India Pesticides Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ0%28.7%30.5%37%52.1%40.8%27.9%10.8%13.1%17.2%-
Value Creation
Index ⓘ
NA1.11.21.62.71.91.0-0.2-0.10.2-

Growth Parameters ⓘ

Sales ⓘ02533414806497168856818291,0571,034
Sales YoY Gr.-NA34.6%40.8%35.3%10.4%23.6%-23.1%21.8%27.5%-
Adj EPS ⓘ02.83.75.811.913.412.15.179.89.6
YoY Gr.-NA30.4%58.6%105.5%12.2%-9.6%-57.8%37.3%40%-
BVPS (₹) ⓘ012.916.823.134.855.467.371.978.488.390.4
Adj Net
Profit ⓘ
031.240.764.513315413958.780.6113110
Cash Flow from Ops. ⓘ016-3.475.283.375.946.11201.667.8-
Debt/CF from Ops. ⓘ02.9-18.10.40.40.20.10.232.31.1-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNA10.3%6.1%27.5%
Adj EPS ⓘNA-3.8%-6.7%40%
BVPSⓘNA20.5%9.5%12.6%
Share Price - -15.6% -23.4% -36%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ
021.724.629.141.229.919.77.39.311.710.7
Op. Profit
Mgn % ⓘ
021.919.219.628.229.922.312.814.616.616
Net Profit
Mgn % ⓘ
012.31213.520.521.515.78.69.710.710.6
Debt to
Equity ⓘ
00.30.30.10.10000.10.1-
Working Cap
Days ⓘ
00231202178215228299248237133
Cash Conv.
Cycle ⓘ
001301098610613017515314590

Valuation of India Pesticides - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales6497168856808291,057
Operating Expenses ⓘ + 466502688594709884
Manufacturing Costs96102134125158192
Material Costs292313468376432549
Employee Cost 223035425364
Other Costs ⓘ 555851506680
Operating Profit ⓘ 18321419787120173
Operating Profit Margin (%) 28.2%29.9%22.3%12.7%14.4%16.4%
Other Income ⓘ + 61313151521
Exceptional Items ⓘ 000000
Interest ⓘ 377457
Depreciation ⓘ 6911151821
Profit Before Tax ⓘ 18021219282111166
Tax ⓘ 455448222946
Profit After Tax 1351581436082120
PAT Margin (%) 20.7%22.1%16.2%8.8%9.9%11.3%
Adjusted EPS (₹)12.013.712.45.27.110.4
Dividend Payout Ratio (%)2.70%5.50%6%14.40%10.50%7.20%
PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 3896387738258981,010
Share Capital ⓘ 11.1811.5211.5211.5211.5211.52
Reserves ⓘ 378626762813887998
Debt +301431751106
Long Term Debt7422231
Short Term Debt23101154875
Minority Interest000001
Trade Payables749510395118138
Others Liabilities ⓘ 68998882119147
Total Liabilities ⓘ 5618459671,0191,1871,401

Fixed Assets

Net Fixed Assets ⓘ +124174248279328388
Gross Block140197282327394475
Accumulated Depreciation152334486687
CWIP ⓘ 124427585868
Investments ⓘ 91712121519
Inventories70140225208243287
Trade Receivables214248262238344360
Cash Equivalents 4410761113101117
Others Assets ⓘ 8811613111098161
Total Assets ⓘ 5618459671,0191,1871,401
PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 837645115362
PBT ⓘ 18021219182111166
Adjustment ⓘ 10171491521
Changes in Working Capital ⓘ -62-98-11245-100-85
Tax Paid ⓘ -45-54-47-21-24-41
Cash Flow From Investing Activity ⓘ + -83-133-24-120-20-83
Capex -42-82-76-77-64-91
Net Investments -44-5647-52362
Others ⓘ 244997
Cash Flow From Financing Activity ⓘ + -471-2531936
Net Proceeds from Shares ⓘ 01000000
Net Proceeds from Borrowing ⓘ -6-3-20-029
Interest Paid ⓘ -3-4-5-3-4-6
Dividend Paid ⓘ -4-4-9-9-9-9
Others ⓘ 9-18-9143222
Net Cash Flow ⓘ -414-4-2215
PARTICULARSMar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)34.5430.7520.37.539.5412.56
ROCE (%)43.6840.7527.8210.712.9616.76
Asset Turnover Ratio1.181.060.990.720.680.76
PAT to CFO Conversion(x)0.610.480.311.920.040.52
Working Capital Days
Receivable Days117.80113.50103.50127.10141.80131.50
Inventory Days38.5051.5074110109.7098.90
Payable Days92.5098.4077.1095.9089.6084.90

Top 5 Mutual Funds Holding

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Announcements

India Pesticides Ltd FAQs

The current trading price of India Pesticides on 30-Sep-2026 16:59 is ₹132.8.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 29-Sep-2026 the market cap of India Pesticides stood at ₹1,531.7 Cr

The latest P/E ratio of India Pesticides as of 29-Sep-2026 is 13.93.

The latest P/B ratio of India Pesticides as of 29-Sep-2026 is 1.47.

The 52-week high of India Pesticides is ₹213.7 and the 52-week low is ₹124.7.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of India Pesticides is ₹1,034 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that India Pesticides Ltd is a average quality company.

The key valuation ratios of India Pesticides Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of India Pesticides Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About India Pesticides Ltd

India Pesticides is an R&D driven agro-chemical manufacturer of Technicals with a growing Formulations business. It is one of the fastest growing agro-chemicals company in terms of volume of Technicals manufactured. It is the sole Indian manufacturer of five Technicals and among the leading manufacturers globally for Captan, Folpet and Thiocarbamate Herbicide, in terms of production capacity. Since commencing its operations in 1984, it has diversified into manufacturing herbicide and fungicide Technicals and active pharmaceutical ingredients (APIs). It also manufactures herbicide, insecticide and fungicide Formulations. It has a strategic focus on R&D and its R&D capabilities include two well-equipped in-house laboratories registered with the DSIR. Its efforts are led by a dedicated R&D team that comprises PhDs, masters graduates in chemistry and abiotechnological engineer. Its R&D efforts have led to development of processes to manufacture three generic off-patent Technicals since Fiscal 2018 and it is currently in the process of developing processes for certain Technicals, including two fungicides, two herbicides, two insecticides and two intermediates.

The company currently have two manufacturing facilities located at UPSIDC Industrial Area at Dewa Road, Lucknow and Sandila, Hardoi in Uttar Pradesh, India that are spread across over 25 acres. Each of its manufacturing facilities has the ability to manufacture a wide range of products, which provides it with the flexibility to cater to changing demands in the market, thereby reducing dependence on any one major product category. It also has pilot facilities to test commercialization of its products. Its facilities are periodically audited and appraised by its customers including various multinational corporations. It has also commenced construction of two manufacturing units at its Sandila facility, which are proposed to be used for herbicide Technicals.

Business area of the company

The company has two distinct operating verticals, namely, Technicals; and Formulations. The company manufacture generic Technicals that are used in the manufacture of fungicides and herbicides as well as APIs with applications in dermatological products. It also manufacture and sell various formulations of insecticides, fungicide and herbicides, growth regulators and Acaricides, which are ready-to-use products.

Major events and milestones

  • 1984: Incorporation of the company as ‘India Pesticides Private Limited’.
  • 1987: Acquisition of entire assets and liabilities of the partnership firm ‘India Pesticides’ by Company.
  • 1991: Commencement of commercial production at Company’s manufacturing facility situated at Dewa Road, Chinhat, Uttar Pradesh.
  • 1993: Classification of Company as a ‘deemed public company’ under Section 43A (1A) of the Companies Act, 1956 and removal of the word ‘Private’ from the name of Company.
  • 2003: Conversion of the company into a public limited company.
  • 2009: Registration of Company’s in-house research and development unit situated at Tiwariganj, Chinhat, Lucknow with the DSIR.
  • 2015: Commencement of commercial production at our Company’s manufacturing facility situated at Sandila, Hardoi, Uttar Pradesh.
  • 2018: Commencement of export of herbicide Technicals manufactured at Company’s manufacturing facility situated at Sandila, Hardoi, Uttar Pradesh.
  • 2020: Registration of Company’s in-house research and development unit situated at Tiwariganj, Chinhat, Lucknow and Sandila, Hardoi with the DSIR until March 31, 2023.

Awards, accreditations and recognitions:

  • 2019: The company was awarded for its excellent performance as “Most Cooperative Partner” for Financial Year 2018-19 by Rallis India Limited.
  • 2020: The Quality Management System of Company’s Corporate Office and manufacturing facility situated at Dewa Road, Chinhat, Lucknow, Uttar Pradesh and the research and development facility situated at Tiwariganj, Chinhat, Lucknow, Uttar Pradesh have been certified to conform to ISO 9001:2015 for manufacturing, export and sales of pesticides, chemicals and bulk drugs pursuant to a certificate dated November 28, 2020 until November 27, 2023.
  • 2020: The Customer Satisfaction and Complaint Management System of Company’s Corporate Office and manufacturing facility situated at Dewa Road, Chinhat, Lucknow, Uttar Pradesh and the research and development facility situated at Tiwariganj, Chinhat, Lucknow, Uttar Pradesh have been certified to conform to ISO 10002:2018 for manufacturing, export and sales of pesticides, chemicals and bulk drugs pursuant to a certificate dated November 28, 2020 until November 27, 2023.
  • 2020: The Quality Management System of Company’s manufacturing facility situated at Sandila, Hardoi, Uttar Pradesh has been certified to conform to ISO 9001:2015 for manufacturing, export and sales of pesticides, intermediate and agro-chemicals pursuant to a certificate dated September 15, 2018 until September 14, 2021.
  • 2020: The Occupational Health and Safety Management System of Company’s manufacturing facility situated at Sandila, Hardoi, Uttar Pradesh has been certified to conform to ISO 18001:2007 (OHSAS) for manufacturing, export and sales of pesticides, intermediate and agro-chemicals pursuant to a certificate dated September 15, 2018 until September 14, 2021.
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