India Pesticides Ltd (IPL) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 543311 | NSE: IPL | Pesticides & Agrochemicals | Small Cap

India Pesticides Share Price

171.60 0.65 0.38%
as on 05-Dec'25 14:03

India Pesticides Ltd (IPL) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 543311 | NSE: IPL | Pesticides & Agrochemicals | Small Cap

DeciZen - make an informed investing decision on India Pesticides

Based on:

Overall Rating
Bole Toh

1. Quality

2. Valuation

Undervalued

3. Price Trend

India Pesticides stock performance -

Key Ratios
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P/E Ratio (SA):
18.38
Market Cap:
1,968.7 Cr.
52-wk low:
119.9
52-wk high:
246

Is India Pesticides Ltd an attractive stock to invest in?

1. Is India Pesticides Ltd a good quality company?

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

2. Is India Pesticides Ltd undervalued or overvalued?

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

3. Is India Pesticides Ltd a good buy now?

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.

10 Year X-Ray of India Pesticides:

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

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 0%0%28.7%30.5%37%52.1%40.8%27.9%10.8%13.1%-
Value Creation
Index
NANA1.11.21.62.71.91.0-0.2-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 00253341480649716885681829945
Sales YoY Gr.-NANA34.6%40.8%35.3%10.4%23.6%-23.1%21.8%-
Adj EPS 002.83.75.811.913.412.15.179.3
YoY Gr.-NANA30.4%58.6%105.5%12.2%-9.6%-57.8%37.3%-
BVPS (₹) 0012.916.823.134.855.467.371.978.483.6
Adj Net
Profit
0031.240.764.513315413958.780.6107
Cash Flow from Ops. 0016-3.475.283.375.946.11206-
Debt/CF from Ops. 002.9-18.10.40.40.20.10.28.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA11.6%5%21.8%
Adj EPS NA3.9%-19.4%37.3%
BVPSNA27.8%12.3%9.1%
Share Price - - -13.3% -10.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
0021.724.629.141.229.919.77.39.311.5
Op. Profit
Mgn %
0021.919.219.628.229.922.312.814.616.3
Net Profit
Mgn %
0012.31213.520.521.515.78.69.711.3
Debt to
Equity
000.30.30.10.10000.10
Working Cap
Days
000231202178215228299272141
Cash Conv.
Cycle
0001301098610613017517296

Recent Performance Summary

Sales growth is good in last 4 quarters at 32.50%

Return on Equity has declined versus last 3 years average to 11.50%

Sales growth has been subdued in last 3 years 5.00%

Net Profit has been subdued in last 3 years -19.36%

Latest Financials - India Pesticides Ltd.

Standalone Consolidated
TTM EPS (₹) 9.3 9.1
TTM Sales (₹ Cr.) 945 945
BVPS (₹.) 83.6 83
Reserves (₹ Cr.) 951 945
P/BV 2.05 2.06
PE 18.38 18.87
From the Market
52 Week Low / High (₹) 119.85 / 245.95
All Time Low / High (₹) 119.85 / 428.95
Market Cap (₹ Cr.) 1,969
Equity (₹ Cr.) 11.5
Face Value (₹) 1
Industry PE 25.9

Management X-Ray of India Pesticides:

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 (%)

Valuation of India Pesticides - Standalone Basis

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

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No data found!

Key Ratios of India Pesticides

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales253341480649716885681829
Operating Expenses 198275386466502687594708
Manufacturing Costs41629796102133125158
Material Costs115173235292313468377433
Employee Cost 1213162230354253
Other Costs 2927375558505065
Operating Profit 55659418321419887121
Operating Profit Margin (%) 21.9%19.2%19.5%28.2%29.9%22.3%12.8%14.6%
Other Income 3510613131515
Interest 46537644
Depreciation 44568111518
Exceptional Items 00000000
Profit Before Tax 50619318021219384114
Tax 1717234554492329
Profit After Tax 3344711351581446184
PAT Margin (%) 13.0%12.9%14.8%20.7%22.1%16.3%9.0%10.2%
Adjusted EPS (₹)2.93.96.412.013.812.55.37.3
Dividend Payout Ratio (%)2%1%5%3%5%6%14%10%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 144187257389638775828903
Share Capital 3331112121212
Reserves 141184254378627763816892
Minority Interest00000000
Debt395524301431751
Long Term Debt7111074222
Short Term Debt334414231011548
Trade Payables37556274959593119
Others Liabilities 36384668918877113
Total Liabilities 2563353885618379621,0141,187

Fixed Assets

Gross Block7377108140186271315378
Accumulated Depreciation3791523344866
Net Fixed Assets 697099124163237267313
CWIP 3511244274136
Investments 3331020174159
Inventories19363970140225208242
Trade Receivables125178183214248262239345
Cash Equivalents 3384310759109101
Others Assets 3340558811613511092
Total Assets 2563353885618379621,0141,187

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 16-3758376461206
PBT 50619318021219384114
Adjustment 677101613813
Changes in Working Capital -25-54-3-62-98-11349-98
Tax Paid -16-17-22-45-54-47-21-23
Cash Flow From Investing Activity -13-7-31-84-132-23-125-5
Capex -12-7-31-42-79-73-59-54
Net Investments -10-1-44-5547-5257
Others 000123-14-8
Cash Flow From Financing Activity -29-39-471-29324
Net Proceeds from Shares 0000100000
Net Proceeds from Borrowing -74-3-6-3-20-0
Interest Paid -4-5-5-3-4-5-3-3
Dividend Paid -1-1-1-4-4-9-9-9
Others 1011-309-18-131437
Net Cash Flow 1-15-514-6-326

Finance Ratio

PARTICULARSMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)22.826.5431.941.6330.8220.447.649.75
ROCE (%)28.7330.453752.0540.7627.8710.7813.1
Asset Turnover Ratio0.991.151.331.41.0610.730.75
PAT to CFO Conversion(x)0.48-0.071.060.610.480.321.970.07
Working Capital Days
Receivable Days180162138109113104127128
Inventory Days28292830527411099
Payable Days11696908598749189

India Pesticides Ltd Stock News

India Pesticides Ltd FAQs

The current trading price of India Pesticides on 05-Dec-2025 14:03 is ₹171.6.
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 04-Dec-2025 the market cap of India Pesticides stood at ₹1,968.7.
The latest P/E ratio of India Pesticides as of 04-Dec-2025 is 18.38.
The latest P/B ratio of India Pesticides as of 04-Dec-2025 is 2.05.
The 52-week high of India Pesticides is ₹245.9 and the 52-week low is ₹119.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of India Pesticides is ₹944.9 ( Cr.) .

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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