India Pesticides Ltd
IPLIndia Pesticides Ltd's earnings have outrun its stock. EPS grew +45.8% in a year against a −29.5% price move.
The sharpest disagreement: annual EPS moved +45.8% against a −29.5% price move — the market has not yet caught up with the delivery.
The price is in a downtrend (34 weeks in) while the P/E sits at the 1st percentile of its own 5-year range. Underneath, the last four quarters read improving — profit +40.9% year on year, and 69% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
India Pesticides Ltd trades at ₹152, in a downtrend and 34 weeks into that stage. That is −9.0% against its own 200-day average. It sits at 21% of a 52-week range of ₹130 to ₹232. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (4 weeks and counting).
Today the stock is in a downtrend — week 34 of stage 4, confirmed. At ₹152 it trades −9.0% versus its 200-day average and sits at 21% of its 52-week range (₹130–₹232).
Against the market, two honest reads. Cumulative: over the last 5.0 years the stock moved −56% while the NIFTY 500 moved +71% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (4 weeks and counting; last ahead the week of 2026-06-25) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 1st percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
India Pesticides Ltd trades at 14.4× P/E, about the cheapest it has ever traded. Its long-run median P/E is 24.3×, measured across 5.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 14.4× is about the cheapest it has ever traded, against a long-run median of 24.3× measured over 5.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +45.8% against a −29.5% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the −15.0%/yr price move, ~−2.8%/yr came from earnings growth and ~−12.2 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
India Pesticides Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 17.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +27.5% | +6.1% | +10.2% | — |
| Profit | +46.3% | −5.7% | −2.3% | — |
| EPS | +45.8% | −5.8% | −2.9% | — |
| Share price | −29.5% | −11.6% | −15.0% | — |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
62.7/100 — rank 3 of 24 in Pesticides/Agrochemicals · 77% evidence confidence
India Pesticides Ltd scores 62.7 out of 100 against the 24 companies it is compared with in Pesticides/Agrochemicals, ranking 3. Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -11.9% and the one-year return is -29.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
The four contributions add to the total exactly: 25.9 + 16.2 + 14.4 + 6.2 = 62.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
India Pesticides Ltd reported ₹266 Cr of revenue in the Mar 26 quarter, +28.5% year on year. That is the 8th straight quarter of year-on-year growth. Over 5 years it has compounded at 10.2% a year. The last full year, FY26, came in at ₹1,057 Cr. The last four reported quarters add to ₹1,056 Cr.
India Pesticides Ltd reported ₹266 Cr of revenue in the Mar 26 quarter, +28.5% year on year. That is the 8th straight quarter of year-on-year growth. Over 5 years it has compounded at 10.2% a year. The last full year, FY26, came in at ₹1,057 Cr. The last four reported quarters add to ₹1,056 Cr.
FY26 revenue came in at ₹1,057 Cr (+27.5% on the year), capping 5 years at 10.2% compound. The latest quarter (Mar 26) printed ₹266 Cr, +28.5% year on year — the 8th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +27.7% growth against the decade's 10.2% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +27.5% over the last 4 quarters against +24.6%/yr over the last 8 — stabilising; TTM profit +45.8% vs +40.8%/yr — accelerating.
→ Revenue grew — did margins hold as it scaled? Next: 16.0% this quarter (+1.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
India Pesticides Ltd's operating margin is 16.0% in the Mar 26 quarter, +1.0 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 13.0% to 30.0%. The current quarter sits inside that band.
India Pesticides Ltd's operating margin is 16.0% in the Mar 26 quarter, +1.0 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 13.0% to 30.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 16.0%, +1.0 pp against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 13.0%–30.0%.
Why the margin moved: operating margin went +0.4 pp year on year while gross margin went −1.0 pp — the gain came mostly from the gross line: input costs and pricing.
→ Margins held — did that reach the bottom line? Next: profit +40.9% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
India Pesticides Ltd earned ₹31.0 Cr of net profit in the Mar 26 quarter, +40.9% year on year. It is the 5th consecutive quarter of growth. Full-year FY26 profit was ₹120 Cr. The 5-year compound rate is −2.3%. That is 11.7% of the quarter's revenue. The same quarter a year earlier earned ₹22.0 Cr.
India Pesticides Ltd earned ₹31.0 Cr of net profit in the Mar 26 quarter, +40.9% year on year. It is the 5th consecutive quarter of growth. Full-year FY26 profit was ₹120 Cr. The 5-year compound rate is −2.3%. That is 11.7% of the quarter's revenue. The same quarter a year earlier earned ₹22.0 Cr.
Mar 26 profit was ₹31.0 Cr, +40.9% year on year — the 5th consecutive quarter of growth. On the full year, FY26 printed ₹120 Cr (+46.3%), and the 5-year compound rate is −2.3%.
Why profit moved: revenue contributed +28.5% and the margin +1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +48.0% vs revenue +27.7%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 69% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 69% of India Pesticides Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹62.0 Cr of operating cash against ₹120 Cr of profit. After ₹91.0 Cr of capital spending, ₹−29.0 Cr was left as free cash.
FY26: operating cash of ₹62.0 Cr against reported profit of ₹120 Cr, leaving free cash of ₹−29.0 Cr after ₹91.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 69% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 69%: the cash cycle stretched 103 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 103 days — the next section's job is to find where the cash is stuck.
→ So follow the cash to where it goes. Next: the 219-day cycle, in money terms.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
India Pesticides Ltd's cash conversion cycle runs 219 days in FY26, up from 116 days in FY21. Capital spending ran ₹235 Cr over the last 3 years. At FY26 sales of ₹1,057 Cr each day of that cycle holds about ₹2.9 Cr, so roughly ₹634 Cr sits inside the business at any moment.
FY26: debtors at 124 days, inventory at 181 days — roughly 6.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 219 days, looser than FY21's 116.
The full loop: cash goes out to suppliers and production on day 0; stock waits 181 days to sell; customers pay about 124 days after that; and suppliers themselves are paid at 87 days — netting out to the 219-day cycle.
In money terms: at FY26 sales of ₹1,057 Cr, each day of the cycle holds about ₹2.9 Cr — so the 219-day loop keeps roughly ₹634 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹235 Cr over the last 3 fiscal years against ₹54.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹68.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 17% and the ROIC − WACC spread is −0.3 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified
India Pesticides Ltd earns a ROCE of 17% in FY26. That is up from a trough of 11% in FY24. Return on invested capital clears the cost of that capital by −0.3 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 11.4% net margin on 0.79× asset turns.
FY26 ROCE is 17%, recovered from a FY24 trough of 11% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 11.4% net margin × 0.79× asset turns × 1.32× balance-sheet leverage ≈ 11.9% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 11.7% − 12.0% = a −0.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.11.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified
India Pesticides Ltd carries total debt of ₹110 Cr against shareholder equity of ₹1,010 Cr as of Mar 26, a debt-to-equity of 0.11 — effectively unlevered. On the annual view that ratio went from 0.04 in FY22 to 0.11 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹110 Cr against shareholder equity of ₹1,010 Cr — a debt-to-equity of 0.11. On the annual view, debt-to-equity went from 0.04 (FY22) to 0.11 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: the register is quiet.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of India Pesticides Ltd moved a full percentage point over the last two years — the register is quiet. Promoters moved +0.0 points over the same window, to 63.6%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: −0.1 points over 8 quarters to 0.2%; Promoters: +0.0 points over 8 quarters to 63.6%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
India Pesticides Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| India Pesticides Ltd this page | 14.4× | ₹1,727 Cr | Mixed | |||
| UPL Ltd | 28.2× | ₹50,841 Cr | No read | |||
| P I Industries Ltd | 34.5× | ₹41,437 Cr | Deteriorating | |||
| Sumitomo Chemical India Ltd | 50.9× | ₹25,978 Cr | Mixed | |||
| Bayer CropScience Ltd | 385.0× | ₹18,954 Cr | — | — | — | — |
| Jubilant Ingrevia Ltd | 36.3× | ₹11,557 Cr | Mixed | |||
| Sharda Cropchem Ltd | 12.1× | ₹7,876 Cr | Mixed | |||
| Epigral Ltd | 15.2× | ₹5,016 Cr | Mixed | |||
| NACL Industries Ltd | 178.0× | ₹4,610 Cr | No read | |||
| Dhanuka Agritech Ltd | 15.5× | ₹4,517 Cr | Topping out | |||
| Rallis India Ltd | 26.9× | ₹4,253 Cr | Mixed | |||
| Bhagiradha Chemicals & Industries Ltd | 188.0× | ₹3,416 Cr | Improving | |||
| GSP Crop Science Ltd | 24.4× | ₹2,468 Cr | — | — | — | — |
| Bharat Rasayan Ltd | 13.1× | ₹2,096 Cr | Mixed | |||
| Insecticides India Ltd | 12.9× | ₹1,793 Cr | Mixed | |||
| Titan Biotech Ltd | 57.5× | ₹1,719 Cr | Turning around | |||
| Astec Lifesciences Ltd | — | ₹1,469 Cr | No read | |||
| Meghmani Organics Ltd | 48.2× | ₹1,385 Cr | No read | |||
| Punjab Chemicals & Crop Protection Ltd | 21.0× | ₹1,375 Cr | Mixed | |||
| Excel Industries Ltd | 15.5× | ₹1,172 Cr | Mixed | |||
| Titan Biotech Ltd | 42.0× | ₹1,141 Cr | Turning around | |||
| Dharmaj Crop Guard Ltd | 16.1× | ₹882 Cr | No read | |||
| Advance Agrolife Ltd | 20.0× | ₹706 Cr | No read | |||
| Heranba Industries Ltd | — | ₹700 Cr | No read | |||
| Best Agrolife Ltd | 60.6× | ₹538 Cr | No read |
Frequently asked questions
What is India Pesticides Ltd's share price today?
India Pesticides Ltd trades at ₹152, −29.5% over the past year. The company is valued at ₹1,727 Cr. The stock sits at 21% of its 52-week range of ₹130–₹232, −9.0% versus its 200-day average. On the tape, the price is in a downtrend, 34 weeks in. — as of 24 July 2026.
What were India Pesticides Ltd's latest quarterly results?
India Pesticides Ltd reported revenue of ₹266 Cr and net profit of ₹31.0 Cr for the Mar 26 quarter. Revenue rose 28.5% and profit rose 40.9% year on year. Earnings per share were ₹2.66. The operating margin was 16.0%, 1.0 pp higher than a year earlier. — as of 24 July 2026.
What is India Pesticides Ltd's revenue?
India Pesticides Ltd reported revenue of ₹266 Cr in the Mar 26 quarter, +28.5% year on year. For the full FY26 fiscal year, revenue was ₹1,057 Cr (+27.5%). Over the last 5 years revenue compounded at 10.2% a year. — as of 24 July 2026.
What is India Pesticides Ltd's profit?
India Pesticides Ltd earned ₹31.0 Cr of net profit in the Mar 26 quarter, +40.9% year on year — the 5th straight quarter of growth. Full-year FY26 profit was ₹120 Cr. The operating margin ran 16.0% in the latest quarter. — as of 24 July 2026.
What is India Pesticides Ltd's market cap?
India Pesticides Ltd's market capitalisation is ₹1,727 Cr at a share price of ₹152. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is India Pesticides Ltd's P/E ratio?
India Pesticides Ltd trades at a P/E of 14.4×, at the 1st percentile of its own 5-year range, against a long-run median of 24.3×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does India Pesticides Ltd pay a dividend?
Yes — India Pesticides Ltd's dividend payout was 7% of profit in FY26, and it recorded a payout in each of its last 6 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is India Pesticides Ltd overvalued?
On its own history, India Pesticides Ltd looks cheap against its own history: its P/E of 14.4× has been cheaper only 1% of the time in 5 years (long-run median 24.3×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is India Pesticides Ltd growing?
Yes — India Pesticides Ltd is growing: latest-quarter revenue +28.5% year on year, profit +40.9%, and the margin +1.0 pp at 16.0%. The 5-year compound rates are 10.2% (revenue) and −2.3% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is India Pesticides Ltd performing?
India Pesticides Ltd is in a downtrend, 34 weeks in. Its latest quarter's revenue rose 28.5% and profit rose 40.9% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 4 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is India Pesticides Ltd in?
Mixed — no clean majority across the growth curves, ROCE holding at 17.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +28.5% latest, profit growth +40.9% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is India Pesticides Ltd in an uptrend?
No — the price is in a downtrend (week 34 of stage 4), trading −9.0% versus its 200-day average and at 21% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is India Pesticides Ltd beating the market?
Not lately — on a trailing-13-week view India Pesticides Ltd is currently behind the NIFTY 500 (4 weeks and counting; last ahead the week of 2026-06-25), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 5.0 years the stock moved −56% against the NIFTY 500's +71% — behind the index over the full window. — as of 24 July 2026.
Will India Pesticides Ltd's share price go up?
This page publishes no price forecast for India Pesticides Ltd. What it measures instead: the share price is ₹152, the price is in a downtrend 34 weeks in. Its P/E of 14.4× sits at the 1st percentile of its own 5-year range. — as of 24 July 2026.
Who owns India Pesticides Ltd?
Promoters hold 63.6% of India Pesticides Ltd, foreign institutions 0.2%, domestic institutions 0.0% and the public 36.1% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 24 July 2026.
Does India Pesticides Ltd have too much debt?
No — India Pesticides Ltd's debt-to-equity is 0.11, and operating profit covers the interest bill 25×. FY26 borrowings were ₹109 Cr against equity of ₹1,010 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is India Pesticides Ltd's capex?
India Pesticides Ltd spent ₹235 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹91.0 Cr, with ₹68.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is India Pesticides Ltd's cash flow?
India Pesticides Ltd generated ₹62.0 Cr of operating cash flow in FY26 and ₹−29.0 Cr of free cash flow after ₹91.0 Cr of capital spending. Reported profit that year was ₹120 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is India Pesticides Ltd's profit real cash?
Mostly — over the last 3 fiscal years, 69% of India Pesticides Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹62.0 Cr against reported profit of ₹120 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.
Where is India Pesticides Ltd in its business cycle?
India Pesticides Ltd's FY26 operating margin was 16.0%, against a 6-year band of 13.0%–30.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 16.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the India Pesticides Ltd story?
The sharpest disagreement: annual EPS moved +45.8% against a −29.5% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is India Pesticides Ltd a stock worth studying right now?
This is not investment advice. The machine read: India Pesticides Ltd's earnings have outrun its stock. EPS grew +45.8% in a year against a −29.5% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.