India Pesticides

India Pesticides delivered a strong Q3 FY26 with revenue of ₹229 croreCurrent reported value: ₹229 crore. No comparable prior figure is available in the source record. (+31Current reported value: 31. No comparable prior figure is available in the source record.% YoY), EBITDA of ₹41 croreCurrent reported value: ₹41 crore. No comparable prior figure is available in the source record. (+39.7% YoY, margin 18%), and PAT of ₹23 croreCurrent reported value: ₹23 crore. No comparable prior figure is available in the source record. (+41% YoY). Growth was driven by robust export demand (Europe, Australia) and domestic herbicide sales. Volume growth matched revenue growth at 31%, indicating stable realizations. The company is on track with capacity expansion at the Salvage facility (two blocks, targeting ₹80-100 crore revenue in FY27) and backward integration at the PA plant. Management guided for ~20% revenue growth in FY27 with EBITDA margins maintained at 18-20%. The promoter's vision of ₹3,000 crore revenue in five years is supported by a clear roadmap: ₹1,000-1,100 crore from Salvage, ₹1,500 crore from existing units, and ₹500 crore from B2C. Key risks include potential price softening from Chinese competition and inventory overhang in the domestic B2C segment.