India Pesticides Ltd. (IPL) AI Stock Analysis

• Market Cap: ₹16.84B
• Dividend Yield: 0.43%
• Average Volume (3M): 35.40K
• Price to Earnings (P/E): 21.9
• Beta (1Y): 2.16
• Revenue Growth: 30.14%
• EPS Growth: 48.14%
• Country: IN
• Employees: 949
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Agricultural Inputs
• EPS (TTM): 1.97
• Shares Outstanding: 115,163,506
• 10 Day Avg. Volume: 16,534
• 30 Day Avg. Volume: 35,396
• PEG Ratio: 0.54
• Price to Book (P/B): 1.79
• Price to Sales (P/S): 1.94
• P/FCF Ratio: -28.45
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: ₹151.00 ▼(-14.69% Downside)
• Action: Reiterated Date: 11/07/25
• Date: Action: Reiterated 11/07/25

India Pesticides Ltd. has strong financial performance with growth potential, but technical indicators suggest bearish momentum. The valuation is moderate, with a reasonable P/E ratio but low dividend yield. Monitoring cash flow and market trends is advisable.

Positive Factors

Revenue Growth

Sustained top-line expansion (33.5% reported) indicates strong demand and successful commercial execution. Over 2-6 months this growth supports scale advantages, better absorption of fixed costs, and the ability to reinvest in capacity, registrations and product development.

Diversified Business Model

Multiple revenue streams—technical-grade AIs, finished formulations and specialty intermediates—reduce dependency on any single product or customer. This structural diversification supports resilience to molecule-specific cycles and improves long-term revenue stability and margin mix.

Conservative Leverage / Equity Base

A strong equity base and low leverage provide lasting financial flexibility to fund capex, registrations and working capital needs without excessive refinancing risk. This balance-sheet strength helps the company weather agricultural cycles and fund strategic investments.

Negative Factors

Negative Free Cash Flow from Capex

Persistent high capex causing negative free cash flow can be a structural headwind if it continues. It may force external financing, constrain dividend or share-buyback capacity, and limit flexibility to respond to market opportunities or adverse demand shocks over the medium term.

Declining Net Profit Margin

A slipping net profit margin, even with robust gross and EBIT margins, suggests rising non-operating costs, tax or interest pressures, or adverse mix changes. If this trend persists it will reduce cash available for reinvestment and weaken return generation for shareholders.

Lower Return on Equity

A decline in ROE signals less efficient use of shareholders' capital, potentially from weaker net income conversion or recent capital investments not yet earning returns. Persistently lower ROE can undermine long-term shareholder value and signal execution risk on reinvested capital.

India Pesticides Ltd. Business Overview & Revenue Model

Company Description

India Pesticides Limited operates as an agro-chemical company in India. The company engages in the manufacture, sale, and distribution of fungicides, herbicides, insecticides, and various agrochemical products, as well as active pharmaceutical ingredients for use in pharmaceutical drugs. It also exports its products to Australia Europe, Africa, and Asia. The company was incorporated in 1984 and is headquartered in Lucknow, India.

How the Company Makes Money

IPL primarily makes money by manufacturing and selling agrochemical products across a few main streams: (1) Sale of technical-grade active ingredients (AIs): IPL produces off-patent crop-protection AIs and sells them to other agrochemical companies and formulators, generating revenue linked to volumes sold and prevailing market prices for each molecule. (2) Sale of formulations: IPL converts certain AIs into branded/generic formulations (e.g., EC, WP, WG, SC or similar pesticide formulations depending on product) and sells finished goods into the crop-protection channel; this revenue stream typically depends on seasonal agricultural demand, product mix, and distribution reach. (3) Sale of specialty intermediates: IPL manufactures chemical intermediates used in producing agrochemicals (and potentially other specialty chemicals where applicable) and sells them to other manufacturers; earnings here depend on the company’s process capabilities, cost competitiveness, and customer supply agreements. Revenue is supported by export sales alongside the domestic market, so earnings can be influenced by global agrochemical demand cycles, regulatory/registration status of products in different countries, and foreign-exchange movements. Information on specific customer names, contract structures, or disclosed long-term partnerships: null.

India Pesticides Ltd. Financial Statement Overview

Summary

India Pesticides Ltd. shows strong revenue growth and robust operational efficiency with solid gross and EBIT margins. However, the net profit margin has slightly decreased, and cash flow challenges due to high capital expenditures need monitoring.

Income Statement

India Pesticides Ltd. has shown strong revenue growth with a notable increase from the previous year, reflecting a positive trajectory. The gross profit margin and EBIT margin remain robust, indicating strong operational efficiency. However, the net profit margin has slightly decreased, which could be a point of concern if it continues.

Balance Sheet

The company maintains a solid equity base, reflected in a strong equity ratio, indicating stability. The debt-to-equity ratio is low, suggesting prudent leverage management. However, the return on equity has decreased, which may indicate less efficient use of equity capital.

Cash Flow

While the operating cash flow is positive, the company has experienced negative free cash flow due to high capital expenditures, which could be a risk if this trend continues. The operating cash flow to net income ratio suggests a challenging cash conversion cycle.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	9.45B	8.29B	6.79B	8.85B	7.09B	6.43B
Gross Profit	4.13B	2.98B	1.19B	4.00B	3.55B	3.39B
EBITDA	1.72B	1.34B	1.02B	2.08B	2.27B	1.90B
Net Income	1.04B	821.80M	601.70M	1.43B	1.58B	1.35B
Balance Sheet
Total Assets	12.80B	11.43B	10.02B	9.21B	7.92B	5.17B
Cash, Cash Equivalents and Short-Term Investments	1.22B	698.00M	904.50M	314.70M	186.86M	437.41M
Total Debt	476.60M	600.20M	255.90M	127.45M	233.58M	304.11M
Total Liabilities	3.24B	2.44B	1.76B	1.48B	1.54B	1.28B
Stockholders Equity	9.56B	8.98B	8.25B	7.73B	6.38B	3.89B
Cash Flow
Free Cash Flow	431.60M	-566.40M	374.50M	-306.20M	-62.03M	413.61M
Operating Cash Flow	844.10M	75.10M	1.15B	453.70M	758.17M	832.76M
Investing Cash Flow	-579.70M	-78.60M	-1.20B	-242.52M	-1.33B	-832.20M
Financing Cash Flow	-72.20M	229.10M	28.00M	-247.78M	711.28M	-40.85M

India Pesticides Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 177.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:IPL, the sentiment is Negative. The current price of 177 is above the 20-day moving average (MA) of 157.92, above the 50-day MA of 162.56, and below the 200-day MA of 192.37, indicating a bearish trend. The MACD of -3.89 indicates Positive momentum. The RSI at 34.51 is Neutral, neither overbought nor oversold. The STOCH value of 15.58 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:IPL.

India Pesticides Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FCL	75 Outperform	₹25.84B	23.71	―	0.65%	-10.12%	-22.38%
SHREEPUSHK	68 Neutral	₹10.25B	17.66	―	0.52%	28.67%	50.12%
PUNJABCHEM	64 Neutral	₹13.09B	26.88	―	0.24%	10.70%	32.65%
BHAGERIA	63 Neutral	₹6.66B	17.61	―	0.81%	33.39%	85.08%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
IPL	57 Neutral	₹16.84B	21.94	―	0.43%	30.14%	48.14%
TIRUMALCHM	45 Neutral	₹21.47B	-15.05	―	0.43%	-11.11%	-340.74%

India Pesticides Ltd. Corporate Events

India Pesticides Publishes Postal Ballot Notice in Line with SEBI Disclosure Norms

India Pesticides Limited has informed stock exchanges that it has published a postal ballot notice in the Financial Express (English) and Jansatta (Hindi) on 4 February 2026, in line with disclosure requirements under SEBI’s Listing Regulations. The move indicates the company is proceeding with shareholder approval via postal ballot and underscores its compliance focus and transparency in communicating corporate actions to investors and regulators.