Financial Performance (Consolidated - Q1 FY27)

Income Statement Highlights (₹ in million):

  • Income from operations: ₹3,860 (Q1 FY26: ₹3,770; +2.4% YoY)
  • Cost of materials consumed: ₹2,950
  • Purchase of stock in trade: ₹27
  • Changes in inventory: (₹541)
  • Total Raw Material Expenses: ₹2,436
  • Gross Profit: ₹1,424 (Q1 FY26: ₹1,299; +9.6% YoY)
  • Gross Profit margin: 36.9% (Q1 FY26: 34.5%)
  • Employee Cost: ₹319 (Q1 FY26: ₹258)
  • Other expenses: ₹680 (Q1 FY26: ₹617)
  • EBITDA: ₹425 (Q1 FY26: ₹424; +0.2% YoY)
  • EBITDA Margin: 11.0% (Q1 FY26: 11.2%)
  • Other Income: ₹83 (Q1 FY26: ₹26)
  • Depreciation: ₹87 (Q1 FY26: ₹67)
  • EBIT: ₹421 (Q1 FY26: ₹383; +9.9% YoY)
  • Interest: ₹68 (Q1 FY26: ₹84)
  • Exceptional Items: -
  • PBT: ₹354 (Q1 FY26: ₹299; +18.4% YoY)
  • Tax: ₹90 (Q1 FY26: ₹73)
  • Profit After Tax: ₹264 (Q1 FY26: ₹226; +16.8% YoY)
  • Profit After Tax Margin: 6.8% (Q1 FY26: 6.0%)

Comparative Performance:

  • Q4 FY26 Revenue: ₹4,025 million (QoQ: -4.1%)
  • Q4 FY26 PAT: ₹196 million (QoQ: +34.4%)
  • FY26 Full Year Revenue: ₹15,171 million
  • FY26 Full Year PAT: ₹947 million

Operational Context:

Revenue remained stable with strong domestic business momentum partly offset by temporary raw material availability constraints impacting international sales. Global geopolitical developments, climate-related risks and supply chain disruptions impacted availability of key raw materials, resulting in price volatility. Gross profit improvement was mainly due to improved product mix. Employee costs increased due to higher employee base and annual increments. Other expenses were higher due to commencement of operations at new subsidiary unit and foreign exchange movements. Increase in other income was mainly due to profit on sale of lease land. Interest cost reduced due to prepayment of term loan.

Business Updates

Domestic B2C Business:

  • Launched one patented Insecticide + Fungicide mixture in Paddy
  • Introduced two me-too Maize & Soybean herbicides in India B2C market
  • Expanded sales operation to Kerala, starting with one territory operating under Tamil Nadu region focusing on plantation crops

International Business:

  • International Business revenue performance: +20% over previous year
  • Growth came from planned sales of products in Brazil, USA and Africa region
  • New registration received in Brazil for Chlorpyriphos helped drive sales
  • Company has initiated product including source registrations in Brazil, Africa, Middle East and Asian countries
  • Registration focus on Chlorantriniliprole and Methoxyfenzoide

Synthesis R&D:

  • Initiated work on futuristic 2 insecticides & one herbicide active ingredients from IP perspective
  • Applied for 10 herbicides, insecticides & fungicides technicals registration for export only (some approved, others in progress)
  • Filed 8 9(4)/9(3) technical molecules registrations (some approved, others in progress)

Management Updates

Board of Directors:

  • Bhavesh Shah: Chairman & Managing Director (29+ years experience, B.Sc. Chemistry)
  • Tirth Shah: Whole-Time Director (International Business Leader, Graduate in International Marketing, Master's in Global Finance)
  • Shail Shah: Whole-Time Director – Strategic & Corporate affairs (Chartered Accountant, 11 years experience)
  • Mehul Pandya: Whole-Time Director (32+ years leadership experience, BE Mechanical & Diploma in Intl. Trade)
  • Independent Directors: Apurva Mashruwala, Ashish Mehta, Bharat Shah, Nakul Sharedalal

Management Team:

  • Kamlesh D Patel: Company Secretary and Compliance Officer (21+ years experience, joined May 22, 2023)
  • Rajendra Langade: Vice-President Sales (16+ years experience, joined March 2015)
  • Amarnath Chandrani: Chief Strategic Officer (32+ years experience, joined June 2023)
  • Jayesh H Visavadia: Vice President- Environment and IR (23+ years experience, with company since October 2004)
  • Rajesh Valiya Naduvath: Head- International business and Strategy (26+ years experience, joined April 2023)
  • Pranav Avinash Chitre: Chief Financial Officer (Chartered Accountant with 24 years experience, joined May 2026)

Manufacturing and Operations

Manufacturing Facilities:

  • Five manufacturing facilities in India with certifications
  • Installed Capacity:
  • Formulations: 27,132.00 MT
  • Technicals: 3,960.00 MT
  • Kathwada Facility Formulations: 6,000.00 MT
  • Nandesari Facility Technicals: 11,160.00 MT
  • Samba Facility Formulations: 10,540.00 MT
  • Saykha Facility Intermediates: 5,400 MT

Product Portfolio:

Insecticides, Herbicides, Fungicides and Plant Growth Regulators

Registrations:

  • 303 registrations under Sections 9(3) and 9(4)
  • Export registrations for 186 Formulations
  • 61 Technicals exclusively for overseas markets
  • Key brands: SLR 525, Platform, PCT-410, All Rounder, Afford, Aurthor, Liger, Raavan, and Element

Historical Financial Performance

Annual Financials (₹ in million):

| Particulars | FY26 | FY25 | FY24 |

| Income from operations | 15,171 | 12,874 | 11,522 |

| Gross Profit | 5,582 | 5,094 | 4,073 |

| Gross Profit margin | 36.8% | 39.6% | 35.4% |

| EBITDA | 1,851 | 1,504 | 1,243 |

| EBITDA Margin | 12.2% | 11.7% | 10.8% |

| PAT | 947 | 814 | 555 |

| PAT Margin | 6.2% | 6.3% | 4.8% |

| EPS - Basic | 24.93 | 21.38 | 14.89 |

Capital Structure

IPO Proceeds Utilization:

  • Repayment/prepayment of borrowings: ₹170 Crore
  • General corporate purposes: ₹70 Crore

Forward Looking Statements

The presentation contains forward-looking statements relating to the Company's general business plans and strategy, future financial condition and growth prospects, and future developments in its industry and competitive and regulatory environment. Actual results may differ due to factors including future changes in the Company's business, competitive environment, information technology and political, economic, legal and social conditions in India.