India Pesticides Limited (IPL), one of the fast growing agro-chemical companies for technical manufacturing, announces its results for quarter and year ended June 30th, 2024. The company posted total income of Rs. 224 crore, an increase of 9.4% and 72.5% on YoY and QoQ respectively

EBITDA in Q1 FY25 was at Rs. 32 crore, an increase of 22.2% on YoY with EBITDA margin of 14.2%. Net profit in the quarter was Rs. 19 crore, an increase of 25.5% on YoY with PAT margin of 8.7%.  Technicals + APIs constituted 65% of total revenue in Q1 FY25.

Commenting on the performance, Anand S. Agarwal, Director, Founder & Promoter, said, “We have started FY25 on a very optimistic note with strong performance on both year on year and sequential basis. Total Revenue for the quarter was Rs. 224 Cr grew by 9.4% and 72.5% on YoY and QoQ basis respectively. This growth was largely driven by change in product mix and increase in sales volume, particularly formulations. Despite various headwinds from the global economic environment including geopolitical issues, pricing pressures and increased freight costs, we showcased robust performance.

“We achieved a significant enhancement in EBITDA margins, improving by 149 bps YoY and 854 bps QoQ, reaching 14.2% during the quarter. We are pleased to announce the successful commissioning of our intermediate plant, which marks a significant step towards the backward integration of one of our key fungicides, which was previously imported. This achievement is a testament to our in-house Indigenous R&D Technology and aligns with the Government of India's 'Atmanirbhar Bharat' initiative. By substituting imports with domestic manufacturing, we are not only enhancing our self-reliance but also contributing to the nation's economic growth.

“Looking ahead to FY25, we aim to do Capex of ~Rs. 110 crores combining both IPL and SSL. Furthermore, we are poised to grow by expanding our customer base and strengthening capabilities. We are committed to leveraging consistent research and development efforts, driving innovation, and seizing new opportunities to fortify our market position. Despite industry challenges, we are confident in navigating them with our robust pipeline of innovative products and increased market presence, ensuring we meet the evolving needs of our customers and maintain our competitive edge."