Insecticides (India) Limited (INSECTICID)

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Insecticides (India) Limited (INSECTICID) · mywealthgrid

About

Insecticides (India) Limited operates in pesticides and agrochemicals serving India's agricultural sector. With ₹1,836.65 Cr market cap and quarterly revenues of ₹384–₹641 Cr, it is a mid-sized domestic player operating at 10.61% margins with low leverage (D/E 0.12).

Face value: ₹10

Market cap

₹1,655 Cr

P/E

13.2×

P/B

1.4×

Dividend yield

0.4%

ROE

12.1%

ROCE

17.1%

Debt / equity

0.12

OPM

10.6%

EPS (TTM)

₹43.0

Book value

₹419.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins swing 6–14% across recent quarters, indicating exposure to seasonal cycles, commodity pricing, or cost volatility; verify sources of margin fluctuation and pricing power
Share price fell 38.07% over 12 months despite moderate valuation (PE 14.67), suggesting unaddressed operational headwinds or negative market sentiment; investigate the disconnect between fundamentals and shareholder returns
Revenues oscillate sharply (₹427 Cr in Mar 2026 vs. ₹641 Cr in Sep 2025), tied to monsoon and crop cycles; verify hedging mechanisms and cash-flow predictability
Verify customer and product concentration risk; concentrated revenue base amplifies impact of customer loss or regional monsoon failure

Generated analysis · source review pending

Growth drivers

Operating margin recovered from 6.4% in Mar 2026 to 10.69% in Jun 2026, suggesting operational normalization; verify if improvement sustains into FY2027
Quarterly revenue rebounded to ₹616 Cr in Jun 2026 from ₹427 Cr in Mar 2026, tracking seasonal demand patterns; determine whether underlying customer base or market share is expanding
Consistent dividend distributions (5 dividends since 2023) indicate stable cash generation; verify if growing earnings are supporting higher payouts
Debt-to-equity ratio of 0.12 provides balance-sheet headroom for R&D, capacity expansion, or acquisitions if management pursues growth

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹568.7-3.4%1Y

Quick read

rule-based

Pros

+Comfortable interest coverage of 12×
+High promoter holding of 72.3% with no pledge

Cons

−Modest revenue growth of 8.5% a year over the last 5 years
−Low dividend payout of 4.6% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

57/100

Business quality: 52
Growth: 31
Valuation: 87

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,363	1,420	1,504	1,801	1,966	2,000	2,140
COGS	1,009	1,068	1,108	1,386	1,465	1,359	1,465
Gross profit	354	352	396	416	501	641	675
	197	200	226	294	339	419	448
	157	153	170	122	163	222	227
OPM %	11.5%	10.8%	11.3%	6.8%	8.3%	11.1%	10.6%
Depreciation	24	25	26	26	29	29	36
Interest	24	7	7	13	11	7	17
	3	-2	4	1	9	7	12
Profit before tax	111	120	141	84	132	193	187
Tax	24	26	34	21	30	51	47
Tax %	21.9%	21.4%	24%	24.6%	22.6%	26.3%	25.3%
	87	94	107	63	102	142	139
PAT margin %	6.4%	6.6%	7.1%	3.5%	5.2%	7.1%	6.5%
EPS (₹)	41.6	45.4	54.2	21.4	34.6	48.4	47.9
EPS adjusted (₹)	28	30.3	36.3	21.4	34.6	48.8	47.9
	9.6%	4.4%	5.5%	14%	8.7%	4.1%	—
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	21	21	20	30	30	29	29
Reserves	—	800	850	889	984	1,056	1,191
	—	96	49	159	83	100	144
	—	509	477	619	617	714	635
Total equity & liabilities	—	1,426	1,396	1,696	1,714	1,898	2,000
	214	213	227	237	244	240	320
CWIP	—	78	112	117	135	156	119
Investments	—	14	16	18	22	32	32
	—	1,122	1,042	1,324	1,313	1,470	1,530
Total assets	—	1,426	1,396	1,696	1,714	1,898	2,000

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	26%	24.8%	26.4%	23.1%	25.5%	32%	31.5%
EBITDA margin %	11.4%	10.7%	11.3%	6.8%	8.3%	11.1%	10.6%
EBIT margin %	9.7%	9%	9.5%	5.3%	6.8%	9.6%	9%
PAT margin %	6.4%	6.6%	7.1%	3.5%	5.2%	7.1%	6.5%
Working capital
Receivable days	—	65	70	60	55	70	83
Inventory days	—	226	208	227	201	238	194
Payable days	—	124	107	118	104	136	109
NWC days	—	168	171	169	152	172	168
Leverage
Current ratio	—	1.86	1.97	1.62	1.9	1.83	1.96
Debt to EBITDA	—	0.63	0.29	1.31	0.51	0.45	0.64
Debt to equity	—	0.12	0.06	0.17	0.08	0.09	0.12
Interest coverage	5.6	20.4	22.3	7.2	13.1	29	12
Asset turnover	—	1	1.08	1.06	1.15	1.05	1.07
Return ratios
Return on assets %	—	6.6%	7.7%	3.7%	6%	7.5%	7%
Return on capital employed %	—	16.1%	17.1%	10.6%	14.3%	18.3%	17.1%
Return on equity %	—	11.4%	12.4%	6.9%	10.1%	13.1%	11.4%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.16%	72.16%	72.16%	72.16%	72.16%	72.3%	72.3%	72.3%	72.3%	72.3%	72.3%	72.3%
	5.19%	4.42%	4.32%	4.36%	5.43%	5.13%	4.49%	4.66%	4.51%	4.46%	4.5%	4.4%
	9.41%	9.13%	9.16%	9.09%	9.08%	9.24%	9.59%	9.72%	9.5%	9.4%	9.27%	9.26%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	13.24%	14.29%	14.36%	14.39%	13.33%	13.33%	13.62%	13.32%	13.69%	13.84%	13.93%	14.04%
No. of shareholders	—	—	—	—	—	—	—	—	22,336	22,359	22,274	21,380

Promoter holding up 0.14 percentage points since Sep 2023.

1 deal · 13 May 2022 – 13 May 2022

Date	Client	Type	Venue	Side	Quantity	Price	Value
13 May 2022	O J FINANCIAL SERVICES LTD.	Bulk	BSE	Sell	1,17,740	₹715.02	₹8.42 Cr

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Hari Chand AggarwalExecutive Director-Chairperson
Mr. Rajesh Kumar AggarwalExecutive Director-MD
Sandeep AggarwalChief Financial Officer
Mr. Anil Kumar GoyalExecutive Director
Mr. Sanskar AggarwalExecutive Director
Mrs. Praveen GuptaNon-Executive - Independent Director
Mr. Anil Kumar BhatiaNon-Executive - Independent Director
Mr. Shyam Lal BansalNon-Executive - Independent Director
Mr. Supratim BandyopadhyayNon-Executive - Independent Director
Sandeep KumarCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

8.93%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	24	0	0%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Intimation of Review of Credit Rating16 Apr 2026

Investor Presentation and earnings call

Aug 2026Transcript AI Summary PPT REC
May 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results5 Nov 2026 · in 35 daysresults

19

Interim dividend6 Feb 2026 · ex-date₹2
Interim dividend23 Aug 2024 · ex-date₹2
Interim dividend10 Nov 2023 · ex-date₹3
Interim dividend24 Feb 2023 · ex-date₹3
Final dividend15 Sept 2022 · ex-date₹3
Interim dividend19 Nov 2020 · ex-date₹2
Interim dividend19 Mar 2020 · ex-date₹4
Final dividend25 Jul 2019 · ex-date₹2
Final dividend27 Jul 2018 · ex-date₹2
Dividend dividend27 Jul 2017 · ex-date₹2
Interim dividend23 Mar 2016 · ex-date₹2
Final dividend10 Sept 2015 · ex-date₹2.5
Final dividend11 Sept 2014 · ex-date₹3
Final dividend14 Aug 2013 · ex-date₹3
Final dividend17 Sept 2012 · ex-date₹2.5
Final dividend18 Aug 2011 · ex-date₹2.5
Final dividend12 Aug 2010 · ex-date₹2
Final dividend4 Aug 2009 · ex-date₹2
Final dividend5 Aug 2008 · ex-date₹1.5

2

Board meeting to consider results5 Nov 2026
Board meeting to consider results11 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

18 announcementsExport CSV

22 Sept 2026, 3:49 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	26%	24.8%	26.4%	23.1%	25.5%	32%	31.5%
EBITDA margin %	11.4%	10.7%	11.3%	6.8%	8.3%	11.1%	10.6%
EBIT margin %	9.7%	9%	9.5%	5.3%	6.8%	9.6%	9%
PAT margin %	6.4%	6.6%	7.1%	3.5%	5.2%	7.1%	6.5%
Working capital
Receivable days	—	65	70	60	55	70	83
Inventory days	—	226	208	227	201	238	194
Payable days	—	124	107	118	104	136	109
NWC days	—	168	171	169	152	172	168
Leverage
Current ratio	—	1.86	1.97	1.62	1.9	1.83	1.96
Debt to EBITDA	—	0.63	0.29	1.31	0.51	0.45	0.64
Debt to equity	—	0.12	0.06	0.17	0.08	0.09	0.12
Interest coverage	5.6	20.4	22.3	7.2	13.1	29	12
Asset turnover	—	1	1.08	1.06	1.15	1.05	1.07
Return ratios
Return on assets %	—	6.6%	7.7%	3.7%	6%	7.5%	7%
Return on capital employed %	—	16.1%	17.1%	10.6%	14.3%	18.3%	17.1%
Return on equity %	—	11.4%	12.4%	6.9%	10.1%	13.1%	11.4%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Upl LimitedUPLUPL	₹43,628 Cr	₹65,674 Cr	₹52,804 Cr	₹9,326 Cr	17.9%	₹2,020 Cr	4.3%	11.2%	6%	135
Sumitomo Chemical India LimitedSUMICHEMSUMICHEM	₹20,842 Cr	₹20,844 Cr	₹3,245 Cr	₹685 Cr	20.7%	₹579 Cr	16.8%	23.1%	17.3%	155
Bayer Cropscience LimitedBAYERCROPBAYERCROP	₹15,958 Cr	—	₹5,472 Cr	₹688 Cr	15.4%	₹568 Cr	12.1%	28.4%	23.7%	300
Sharda Cropchem LimitedSHARDACROPSHARDACROP	₹6,397 Cr	₹6,397 Cr	₹5,357 Cr	₹1,047 Cr	20.4%	₹626 Cr	12.9%	28%	24.2%	125
Dhanuka Agritech LimitedDHANUKADHANUKA	₹4,217 Cr	₹4,259 Cr	₹2,035 Cr	₹417 Cr	20.5%	₹297 Cr	14.6%	28.9%	22.3%	160
Rallis India LimitedRALLISRALLIS	₹3,884 Cr	₹3,942 Cr	₹2,604 Cr	₹274 Cr	10.5%	₹164 Cr	6.3%	13.2%	10%	104
Bhagiradha Chemicals & Industries LimitedBHAGCHEMBHAGCHEM	₹3,063 Cr	₹3,294 Cr	₹607 Cr	₹79 Cr	10.7%	₹28 Cr	3.4%	4.8%	2.6%	148
Nacl Industries LimitedNACLINDNACLIND	₹3,054 Cr	₹3,355 Cr	₹1,519 Cr	₹106 Cr	6.5%	₹12 Cr	0.3%	11.8%	0.8%	105
Gsp Crop Science LimitedGSPCROPGSPCROP	₹2,113 Cr	₹2,373 Cr	₹1,517 Cr	₹185 Cr	12.2%	₹-3 Cr	6.2%	20.7%	-0.4%	121
Bharat Rasayan LimitedBHARATRASBHARATRAS	₹1,658 Cr	₹1,659 Cr	₹1,203 Cr	₹177 Cr	16%	₹140 Cr	11.7%	17.5%	12.1%	219
Insecticides (India) LimitedINSECTICIDINSECTICID	₹1,655 Cr	₹1,799 Cr	₹2,060 Cr	₹210 Cr	10.6%	₹125 Cr	6.5%	17.1%	12.1%	168
Astec Lifesciences LimitedASTECASTEC	₹1,580 Cr	₹2,029 Cr	₹441 Cr	₹6 Cr	-1%	₹-67 Cr	-18.1%	-9.3%	-25.9%	263

Date	Category	Subject	Filing
22 Sept 2026, 3:49 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
17 Aug 2026, 1:13 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
13 Aug 2026, 6:46 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
13 Aug 2026, 6:44 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
12 Aug 2026, 8:21 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
11 Aug 2026, 9:15 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF
11 Aug 2026, 3:08 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
11 Aug 2026, 3:06 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	155	135	-11	184	93	100
	-113	9	-86	-43	-38	-86
	-104	-115	80	-98	-61	18
Net cash flow	-61	30	-17	43	-5	31
Free cash flow	107	68	-98	135	56	6
CFO / Operating profit %	102%	79.5%	-8.7%	113%	42.3%	44.2%

Insecticides (India) Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

1

19

2

Announcements

1

19

2

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Insecticides (India) Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Upcoming and recent1

Dividends19

Board meetings2

Announcements

Upcoming and recent1

Dividends19

Board meetings2

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

19

2

1

19

2