India Pesticides Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript India Pesticides Ltd filed with BSE on 18 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
India Pesticides reported consolidated Q1 FY27 revenue of INR 256 crores, down from INR 282 crores in Q1 FY26, with EBITDA of INR 39 crores at a 15.4% margin and PAT of INR 23 crores. Management attributed the decline to softer domestic demand for the key herbicide Pretilachlor, deficient and erratic rainfall affecting sowing, and higher employee and fuel costs, along with a one-time export receivable write-off and increased job work charges. The company also received Technical Equivalence approval from the European Union for one of its fungicide products and continued development of its Hamirpur facility, where 2 of 10 planned blocks are currently operational.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Consolidated revenue from operations: INR 256 crores (Q1 FY27)
p. 3
“During FY27 Q1, consolidated revenue from operations was at INR 256 crores compared to INR 282 crores in Q1 FY26.”
D. K. Jain, page 3 of the filed PDF · View the filing
EBITDA: INR 39 crores, 15.4% margin (Q1 FY27)
p. 3
“EBITDA for the quarter was at INR39 crores with an EBITDA margin of 15.4% while PAT was at INR 23 crores.”
D. K. Jain, page 3 of the filed PDF · View the filing
PAT: INR 23 crores (Q1 FY27)
p. 3
“EBITDA for the quarter was at INR39 crores with an EBITDA margin of 15.4% while PAT was at INR 23 crores.”
D. K. Jain, page 3 of the filed PDF · View the filing
Export revenue: INR 89 crores (Q1 FY27)
p. 3
“Export revenue during FY27 quarter 1 was at INR 89 crores contributing approximately 35% of total revenue.”
D. K. Jain, page 3 of the filed PDF · View the filing
Revenue decline Y-o-Y: 9.2% (Q1 FY27 vs Q1 FY26)
p. 5
“Total revenue for Q1 FY27 was INR 256 crores as compared to INR 282 crores in Q1 FY26 reflecting a decline of 9.2% Y-to-Y.”
S. P. Gupta, page 5 of the filed PDF · View the filing
EBITDA (Q1 FY26 comparison): INR 52 crores, 18.4% margin (Q1 FY26)
p. 5
“We registered EBITDA of INR 39 crores with an EBITDA margin of 15.4% compared with EBITDA of INR 52 crores and EBITDA margin of 18.4% in Q1 FY26.”
S. P. Gupta, page 5 of the filed PDF · View the filing
PAT margin: 8.9% (Q1 FY27)
p. 5
“Profit after tax for the quarter stood at INR 23 crores compared with INR 35 crores in Q1 FY26 with PAT margin of 8.9%.”
S. P. Gupta, page 5 of the filed PDF · View the filing
Domestic revenue: INR 167 crores (Q1 FY27)
p. 5
“while domestic revenue was at INR 167 crores compared with INR 195 crores in the corresponding quarter last year mainly due to deficit rainfall.”
S. P. Gupta, page 5 of the filed PDF · View the filing
Revenue from chemicals: INR 181 crores (Q1 FY27)
p. 5
“Revenue from chemicals and formulations stood at INR 181 crores and INR 72 crore, respectively, during Q1 FY27.”
S. P. Gupta, page 5 of the filed PDF · View the filing
Cash balance: INR 59 crores (as at 30th June 2026)
p. 5
“Company has healthy cash balance of INR 59 crores as at 30th June.”
S. P. Gupta, page 5 of the filed PDF · View the filing
Volume decline: 13% (Q1 FY27 vs Q1 FY26)
p. 11
“Volume decline was around 13% and price rise was around 4%.”
S.P. Gupta, page 11 of the filed PDF · View the filing
Job work cost increase: INR 6 crores (Q1 FY27)
p. 6
“our other expenses also included increased job work charges paid for conversion of raw material that is also higher by around INR 6 crores.”
S. P. Gupta, page 6 of the filed PDF · View the filing
Export receivable write-off: INR 2.5 crores (Q1 FY27)
p. 6
“Yogansh ji, other expenses included onetime write-off of export receivables of INR 2.5 crores.”
S. P. Gupta, page 6 of the filed PDF · View the filing
Current capacity utilization: 70%
p. 10
“Our capacity utilization currently is around 70%.”
D. K. Jain, page 10 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
EBITDA margin — 18% · long term
stated conditionally by D. K. Jain
p. 10
“As the overall geopolitical situation improves, we feel our margins will also improve.”
D. K. Jain, page 10 of the filed PDF · View the filing
EBITDA margin — 18% if things go alright otherwise at least 15%, 16%
stated conditionally by D. K. Jain
p. 10
“Sir, we feel that we should be able to get around 18%. 18% if things go alright otherwise at least 15%, 16% we should be able to continue on a sustainable basis.”
D. K. Jain, page 10 of the filed PDF · View the filing
Hamirpur facility revenue — INR 50 crores to INR 60 crores · FY27
stated firmly by D. K. Jain
p. 9
“But we are expecting about INR 50 crores to INR 60 crores of revenue this year from our Hamirpur facility.”
D. K. Jain, page 9 of the filed PDF · View the filing
Hamirpur facility revenue potential — INR 1,000 crores · 3 to 4 years
stated as an aspiration by D. K. Jain
p. 9
“Overall potential, sir, when we put up roughly 8 to 10 blocks, we comfortably should get almost INR 1,000 crores from our Hamirpur facility. It will take three to four years from now.”
D. K. Jain, page 9 of the filed PDF · View the filing
Capex at Sandila and Hamirpur — INR 100 crores per year · per year
stated firmly by D. K. Jain
p. 10
“Every year we are doing a capex of about INR 100 crores at Sandila and Hamirpur together.”
D. K. Jain, page 10 of the filed PDF · View the filing
FY27 revenue growth — lower single-digit growth · FY27
stated conditionally by S. P. Gupta
p. 12
“We are expecting that Q3 and Q4 will be better, so it will be lower single-digit kind of growth this year.”
S. P. Gupta, page 12 of the filed PDF · View the filing
European Union molecule additional revenue — INR 30 crores to INR 40 crores
stated as an aspiration by D. K. Jain
p. 13
“at least we feel that we should be able to get another INR 30 crores, INR 40 crores of revenue from this molecule in European Union in addition to what we are already doing.”
D. K. Jain, page 13 of the filed PDF · View the filing
European Union sales commencement — from November onwards
stated conditionally by D. K. Jain
p. 13
“Sales should commence most probably from November onwards because they will take some time because what happens once, we get equivalent, they have to add that as a source.”
D. K. Jain, page 13 of the filed PDF · View the filing
Inventory days — around 170 days · Q3
stated firmly by S. P. Gupta
p. 10
“Inventory days have gone up from 170 days to around 200 days. They will come down in Q3 to around 170 days.”
S. P. Gupta, page 10 of the filed PDF · View the filing
New China-competing product capacity — 2,000 tons
stated as an aspiration by D. K. Jain
p. 8
“the import what we saw from the data last year, it is around 4,000 tons to 5,000 tons and we should be able to get from this at least 2,000 tons of our capacity.”
D. K. Jain, page 8 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
CFO attributed it to a one-time export receivable write-off and higher job work charges plus increased fuel cost.
Answered by S. P. Gupta
Asked by Yogansh Jeswani: What caused the gap between strong gross margins and weaker operating margins this quarter?
p. 6
“Yogansh ji, other expenses included onetime write-off of export receivables of INR 2.5 crores. And secondly, our other expenses also included increased job work charges paid for conversion”
S. P. Gupta, page 6 of the filed PDF · View the filing
Management guided to INR 50-60 crores rather than the previously discussed INR 70-100 crores.
Answered by D. K. Jain
Asked by Yogansh Jeswani: What is the expected revenue from the Hamirpur facility this year?
p. 7
“Maybe it's not INR 70 crores to INR 80 crores, but it will be somewhere around INR 50 crores to INR 60 crores. It will be there, no doubt about it.”
D. K. Jain, page 7 of the filed PDF · View the filing
Management stated the price point for the product.
Answered by D. K. Jain
Asked by Yogansh Jeswani: What is the price of the new fungicide product being developed to compete with Chinese imports?
p. 8
“Price is about INR 500 to INR 600 per kg.”
D. K. Jain, page 8 of the filed PDF · View the filing
Management said this quarter's margin was sustainable but they aim for higher margins as conditions improve.
Answered by D. K. Jain
Asked by Kaushal Sharma: What is the sustainable EBITDA margin expectation going forward?
p. 10
“See, this quarter we could get 15.5% and we feel that this is sustainable though we would like to increase.”
D. K. Jain, page 10 of the filed PDF · View the filing
CFO clarified receivables were stable and it was inventory that increased due to lower sales.
Answered by S. P. Gupta
Asked by Kaushal Sharma: What explains the increase in receivables?
p. 10
“Receivable has been stable this quarter. Only inventory has increased because of lower sales.”
S. P. Gupta, page 10 of the filed PDF · View the filing
Management quantified volume decline and price increase separately.
Answered by S.P. Gupta
Asked by Karan Shah: What is the split between volume and pricing in the revenue decline?
p. 11
“Volume decline was around 13% and price rise was around 4%.”
S.P. Gupta, page 11 of the filed PDF · View the filing
Management estimated additional revenue potential and expected sales to start around November.
Answered by D. K. Jain
Asked by Saket Kapoor: What opportunity does the EU Technical Equivalence approval create and when will sales begin?
p. 13
“we feel that we should be able to get another INR 30 crores, INR 40 crores of revenue from this molecule in European Union in addition to what we are already doing.”
D. K. Jain, page 13 of the filed PDF · View the filing
Risks flagged
Subdued domestic demand due to deficient and erratic rainfall affecting sowing
p. 3
“domestic market remains impacted during the quarter due to a slower demand condition, deficient rainfall resulting in nonsowing or slow sowing during this period.”
D. K. Jain, page 3 of the filed PDF · View the filing
Competitive pressure from lower-priced Chinese imports
p. 6
“Chinese products are coming at relatively much lower prices.”
D. K. Jain, page 6 of the filed PDF · View the filing
Higher employee and fuel costs impacting margins
p. 5
“The margin moderation was primarily due to lower sales volume, higher employee cost and increased fuel expenses during the quarter.”
S. P. Gupta, page 5 of the filed PDF · View the filing
One-time write-off of export receivables
p. 6
“other expenses included onetime write-off of export receivables of INR 2.5 crores.”
S. P. Gupta, page 6 of the filed PDF · View the filing
Erratic monsoon disrupting demand
p. 8
“the overall situation of the monsoon and erratic monsoon is there, but it is very erratic. So that's why it is disturbing a lot.”
D. K. Jain, page 8 of the filed PDF · View the filing
Elevated inventory levels due to lower sales
p. 5
“At the quarter end, our inventory level are higher in comparison to the same quarter of last year.”
S. P. Gupta, page 5 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.