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Revenue
₹426 Cr
verified against source
Revenue YoY
7%
reported change
EBITDA
₹227 Cr
latest reported figure
Source
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Actual signal trajectory
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Quarter read
What the record says.
Insecticides India reported a steady Q4 FY26 with 19% revenue growth in the quarter, though full-year revenue rose only 7% to ₹2,140 crore and PAT dipped slightly to ₹139 crore due to higher deferred tax. EBITDA margin improved to 10.6% over three years, but Q4 margins were not disclosed. Growth was driven by premium products (up 24%) and B2C segment (73% of sales). Management remains cautiously optimistic for FY27, citing raw material inflation and sluggish May demand due to heatwaves, but expects improvement with monsoons. Key risks include prolonged geopolitical tensions keeping input costs elevated and potential weak monsoon impacting kharif season. The company is focusing on brand building through its ICS program and expanding its subsidiary Kyros as a parallel distribution channel.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects both top line and bottom line to be positive in FY27, with results visible from Q1 itself, though dependent on monsoon.
- Once current projects are completed in FY27, capex will be limited to maintenance levels of ₹25-30 crore.
- Management targets reducing finance costs by 25-30% in FY27 through better working capital management.
- The subsidiary Kyros, which had ~₹6 cr revenue in FY26, is expected to at least double sales in FY27 as the brand launches.
Risks flagged
- Management noted that geopolitical issues have increased raw material prices by up to 10%, which could pressure margins if not passed through.
- May was sluggish due to heatwaves; management admitted that June monsoon performance is critical for kharif season demand.
- An analyst questioned whether Kyros would create channel conflict with existing IIL distributors; management downplayed but acknowledged initial reservations.
- Finance costs more than doubled to ₹16.87 cr in FY26 due to higher inventory and new product investments; management targets reduction but no guarantee.
Key quotes
- We are entering into its 25th year, our silver jubilee. And we believe that is entering a new era of transformation and growth.
- Our long-term strategy of premiumization and differentiated technologies is going strong.
- We are trying to divide the risk by dividing the products and we are doing limited placement.
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