Earning call transcript for the quarter and year ended 31st march, 2026
IPL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Pesticides Limited achieved its first INR 1,000 crore revenue milestone in FY26, with consolidated revenue of INR 1,078 crores (up 27.9% Y-o-Y), EBITDA of INR 194 crores (up 44.7%) and PAT of INR 120 crores (up 45.8%). EBITDA margin improved to 18% from 15.9% in FY25. Q4 domestic sales surged 55% to INR 183 crores driven by strong herbicide demand, while export remained stable at INR 84 crores despite geopolitical headwinds. Management guided for 15-20% revenue growth in FY27 with EBITDA margins of 18-20%, and reiterated its INR 3,000 crore revenue target by FY31. The Shalvis subsidiary is expected to contribute INR 70-80 crores in FY27 (up from INR 4-5 crores currently), with a second block operational by September-October 2026. Capex guidance is INR 45 crores for standalone and INR 90 crores for the subsidiary, funded through internal accruals.
Strong operational performance with margin expansion signals successful backward integration and cost optimization. The multi-year INR 3,000 crore target by FY31 provides long-term visibility, though near-term headwinds from monsoon uncertainty and raw material inflation persist.