Indogulf Cropsciences has reported a solid set of consolidated earnings for Q4 and FY26, powered by expanding distribution reach, export growth and a stronger product mix across crop protection, plant nutrients and biologicals.
Revenue from operations rose 19% year-on-year to Rs. 7,046 million in FY26, up from Rs. 5,904 million in FY25. Profit after tax (PAT) climbed 27% to Rs. 400 million, supported by operational execution and portfolio diversification.
For the quarter ended March 31, 2026, revenue stood at Rs. 1,508 million, up 19% from Rs. 1,262 million a year earlier, while PAT increased 19% to Rs. 116 million from Rs. 98 million. Earnings per share (EPS) rose to Rs. 2.3 in Q4 FY26 compared with Rs. 2 in the same quarter last year.
EBITDA (excluding other income) came in at Rs. 740 million for FY26, up 15% from Rs. 643 million in FY25, though margins eased slightly to 10.4% from 10.8%. In Q4, EBITDA stood at Rs. 204 million versus Rs. 208 million a year ago, with margins slipping to 14% from 17%.
Despite margin pressure, the company highlighted steady profitability, with PAT margin holding at 5.6% for FY26, up from 5.3% last year.
The company credited performance to deeper distribution and rising demand across its B2C and B2B channels, alongside improving penetration in underserved markets through its AGPL operations.
Indogulf also accelerated its export footprint, entering new markets including Venezuela, Taiwan and Sudan. A key milestone was the first fertilizer shipment to Venezuela, marking its entry into Latin America.
Domestically, the company strengthened its reach with a network of 7,000+ distributors and 192 institutional partners, while continuing farmer engagement through field demonstrations and advisory-led initiatives.
Manufacturing expansion at the Barwasni facility progressed during the year, aimed at supporting future capacity needs and product diversification. The company also signed a Memorandum of Agreement under the Prime Minister’s Fellowship for Doctoral Research with ICAR-IARI, reinforcing its focus on research-led agricultural innovation.
Commenting on the performance, Managing Director Sanjay Aggarwal said: "FY26 was an important year for Indogulf Cropsciences as we continued strengthening our position across crop protection, plant nutrients and biologicals while expanding our farmer reach, distribution network and export presence.
"Despite a dynamic operating environment for the agrochemical industry, we delivered resilient growth supported by disciplined execution, improving product mix and deeper market penetration across both B2C and B2B segments.
"During the year, we continued witnessing healthy traction in our biologicals and plant nutrients portfolio, while AGPL scaled up operations and strengthened its secondary distribution reach across underserved markets."
Hd added: "We also expanded our international presence through entry into newer geographies including Venezuela, Taiwan and Sri Lanka, which is expected to support future export growth opportunities. A key milestone during FY26 was the successful execution of our first fertilizer shipment to Venezuela, marking our entry into the Latin American market.
"The industry environment continues to remain dynamic due to weather-related uncertainties, raw material volatility and geopolitical developments across global supply chains.
"While recent developments around possible El Niño conditions and West Asia tensions remain monitorable factors for the industry, we continue to proactively manage procurement, inventory planning and supply chain operations to maintain business stability and operational continuity."
