INSECTICID

Insecticides (India) share price & financials

Price
₹653.4
Market cap
₹1.8k Cr
Sector
Chemicals
Calls analysed
7
Latest concall · Q1 FY27 · call held 17 Aug 2026

Insecticides (India) Limited Q1 FY27

Revenue from Operations ₹612 cr −13%PAT Margin 7.2% −14%

What went well

  • Gross profit percentage increased from 29% to 31.6% despite revenue degrowth.
  • Premium product sales increased from 58% (Q1 FY26) to 64% (Q1 FY27) of total B2C contribution.
  • Newly launched products (Granuvia & Spinoace) generated INR5.50 crores in Q1 FY27, with Granuvia targeting INR20 crores and Spinoace INR10 crores plus for FY27.

What to watch

  • Revenue from operations degrew by 12% from INR691 crores to INR612 crores.
  • EBITDA degrew by around 20%, with EBITDA percentage down from 12.2% to 11.1%.
Read the full call →

What Insecticides (India) Limited does

Insecticides (India) Limited (IIL) develops, manufactures and markets crop protection and nutrition products for Indian and export agriculture, spanning insecticides, herbicides, fungicides and biologicals/plant growth regulators (PGRs). It earns mainly through branded B2C sales of generic and premium agrochemicals — under its legacy Tractor Brand and newer brands such as Dr Dada and the Kaeros range — distributed through one of the industry's largest dealer networks that reaches farmers directly, alongside B2B bulk sales and exports. The company is backward-integrated, manufacturing both technical (active ingredient) and formulation products in-house across plants in Rajasthan, Jammu & Kashmir and Gujarat, and runs its own R&D for new molecule discovery, including a joint venture with Japan's OAT Agrio.

Segments

  • Insecticides
  • Herbicides
  • Fungicides
  • Biologicals & PGR
Farmer reach
75,00,000+ (~7.5 million) farmers
Distribution network
8,500+ distributors and 70,000+ retailers
Manufacturing plants
6 formulation plants and 2 technical plants across Chopanki (Rajasthan), Samba & Udhampur (J&K), Shamli and Dahej (Gujarat), plus an upcoming unit at Sotanala
Installed capacity
15,800 MTPA active ingredient & intermediates; 30,000 MTPA granules; 30,000 KLPA liquid; 10,000 MTPA powder
R&D infrastructure
4 R&D centres staffed by 100+ scientists and researchers, holding 27 patents
Export footprint
Presence in 22 countries with ~182 international product registrations, via a dedicated export-oriented (SEZ) unit at Dahej
Founded 1996Headquarters Delhi, India Company website

Guidance record · Q1 FY27

what the last two calls moved 22 tracked 0 delivered 6 missed 16 open
  • Export Revenue went quiet said Q3 FY25 Promised: Crossing INR150 crores. Q1 FY27: No update on this historical target. The deadline has passed.
  • EBITDA Margin at risk said Q3 FY25 Promised: EBITDA of about 12% to 13% in next 1 to 2 years. Q1 FY27: Achieved 11.1% in Q1, down from 12.3% YoY and below the 12-13% target range.
  • Premium Products Contribution to B2C Sales on track said Q3 FY25 Promised: Take it to 65% in next one to two years. Q1 FY27: Achieved 64% of B2C contribution, up from 58% YoY and very close to the target.

All 22 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 11.4%, net profit down 24.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue627 358 359 691 638 +2%385 +8%426 +19%612 −11%
EBITDA90 31 28 85 89 −1%27 −13%25 −11%68 −20%
Net profit61 17 14 58 59 −3%10 −41%12 −14%44 −24%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −23.4% 1Y

₹600₹700₹800Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 12 Nov 2025Q3 FY26 — 30 Jan 2026Q4 FY26 — 27 May 2026Q1 FY27 — 17 Aug 2026

1Y: ₹796.2 on 10 Sept 2025 → ₹609.7. High ₹796.2 (10 Sept 2025), low ₹528.4 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−2.0%
17 Aug
Q4 FY26
−3.9%
28 May
Q3 FY26
−8.0%
30 Jan
Q2 FY26
−2.3%
12 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 5.9% a year over 3 years, FY23 to FY26. Operating margin widened to 10.6%.

Year endingFY23FY24FY25FY26
Revenue₹1.8k Cr₹2.0k Cr₹2.0k Cr₹2.1k Cr
Operating profit₹120 Cr₹163 Cr₹221 Cr₹226 Cr
Operating margin6.7%8.3%11.0%10.6%
Interest₹13 Cr₹11 Cr₹7 Cr₹17 Cr
Depreciation₹26 Cr₹29 Cr₹29 Cr₹34 Cr
Net profit₹63 Cr₹102 Cr₹141 Cr₹139 Cr
Net margin3.5%5.2%7.0%6.5%
Cash from operations₹-11 Cr₹187 Cr₹93 Cr₹100 Cr
Free cash flow₹-97 Cr₹143 Cr₹59 Cr₹8 Cr
ROCE10.0%13.0%17.0%16.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹21 Cr₹20 Cr₹30 Cr₹30 Cr₹29 Cr₹29 Cr
Reserves₹800 Cr₹850 Cr₹889 Cr₹982 Cr₹1.2k Cr₹1.2k Cr
Borrowings₹100 Cr₹54 Cr₹163 Cr₹87 Cr₹246 Cr₹157 Cr
Other liabilities₹505 Cr₹473 Cr₹615 Cr₹620 Cr₹547 Cr₹623 Cr
Total liabilities₹1.4k Cr₹1.4k Cr₹1.7k Cr₹1.7k Cr₹2.0k Cr₹2.0k Cr
Fixed assets₹239 Cr₹253 Cr₹263 Cr₹286 Cr₹384 Cr₹370 Cr
Capital work in progress₹59 Cr₹91 Cr₹123 Cr₹142 Cr₹81 Cr₹130 Cr
Investments₹14 Cr₹16 Cr₹17 Cr₹23 Cr₹31 Cr₹29 Cr
Other assets₹1.1k Cr₹1.0k Cr₹1.3k Cr₹1.3k Cr₹1.5k Cr₹1.5k Cr
Total assets₹1.4k Cr₹1.4k Cr₹1.7k Cr₹1.7k Cr₹2.0k Cr₹2.0k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +0.72 pp while DIIs trimmed −0.46 pp.

Promoters
72.3%
FIIs
4.4%
DIIs
9.3%
Public
14.0%

Since Jun 2025

  • Public +0.72 pp
  • DIIs −0.46 pp
  • FIIs −0.25 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 72.2%, FIIs 5.2%, DIIs 9.4%, Public 13.3%.Dec '23: Promoters 72.2%, FIIs 4.4%, DIIs 9.1%, Public 14.3%.Mar '24: Promoters 72.2%, FIIs 4.3%, DIIs 9.1%, Public 14.4%.Jun '24: Promoters 72.2%, FIIs 4.4%, DIIs 9.1%, Public 14.4%.Sep '24: Promoters 72.2%, FIIs 5.4%, DIIs 9.1%, Public 13.4%.Dec '24: Promoters 72.3%, FIIs 5.1%, DIIs 9.2%, Public 13.3%.Mar '25: Promoters 72.3%, FIIs 4.5%, DIIs 9.6%, Public 13.6%.Jun '25: Promoters 72.3%, FIIs 4.7%, DIIs 9.7%, Public 13.3%.Sep '25: Promoters 72.3%, FIIs 4.5%, DIIs 9.5%, Public 13.7%.Dec '25: Promoters 72.3%, FIIs 4.5%, DIIs 9.4%, Public 13.8%.Mar '26: Promoters 72.3%, FIIs 4.5%, DIIs 9.3%, Public 13.9%.Jun '26: Promoters 72.3%, FIIs 4.4%, DIIs 9.3%, Public 14.0%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Insecticides (India) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Sanskriti Family Trust (Through Mr. Hari Chand Aggarwal the first Trustee) 64.66%unchanged
HDFC Small Cap Fund Mutual fund8.93%unchanged
India Insight Value Fund FPI fund3.18%unchanged
Sanskar Aggarwal 1.37%unchanged
Rajesh Kumar Aggarwal 1.37%unchanged
KBZ Private Trust (Through Mr. Hari Chand Aggarwal the first Trustee) 1.27%unchanged
Isec Organics Limited 1.22%unchanged
O.J.Financial Services Ltd. 1.12%newly disclosed
EJ Private Trust (Through Mr. Hari Chand Aggarwal the first Trustee) 1.03%unchanged
Akshay Family Trust (Through Mr. Hari Chand Aggarwal the first Trustee) 0.69%unchanged
Hari Chand Aggarwal 0.69%unchanged
Kritika Gupta 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in INSECTICID

Filings to Jul 2026

0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).

Held by funds
₹167 Cr
1 schemes
Biggest holder
HDFC Small Cap Fund
₹167 Cr · 0.4% of that fund
SchemeHoldingLast month
HDFC Small Cap Fund HDFC Mutual Fund₹167 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Jul 2026

0 added, 0 trimmed — net 0 shares (+0.0%)

Funds are sitting on
-12%
vs est. average cost
Held by funds
₹167 Cr
1 schemes · ≈ 9.4% of the company

Shares held by these funds −14%

Aug '23 25.98 L shares Jul '26

What the price assumes

Attractive

To justify its price of ₹610, this stock must grow earnings at 7% every year for 7 years. Our analysis caps realistic growth at ~31%. At that growth it is worth ₹2124 — upside of 248%.

Growth the price implies
6.7% a year
for 7 years, fading to 4%
It has actually compounded at
30.2% a year
net profit, FY23–FY26 · EPS 30.9%
The gap
-0.2 pp
248% downside if it only repeats history
Price today ₹609.7 Value at the reference growth ₹2,124.41

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Insecticides (India) Limited

Guides on how to read this kind of business and the numbers that matter.