Consolidated Financial Performance

Revenue: Grew 9% YoY to ₹1,074 crores (Q1 FY26: ₹985 crores)

Gross Profit: Increased 13% YoY to ₹394 crores (Q1 FY26: ₹349 crores)

Gross Profit Margin: Expanded 120 basis points to 36.7% (Q1 FY26: 35.5%)

EBITDA: Grew 25% YoY to ₹178 crores (Q1 FY26: ₹142 crores)

EBITDA Margin: Improved 220 basis points to 16.6% (Q1 FY26: 14.4%)

Profit Before Tax (prior to forex gains): Increased 16% YoY to ₹111 crores (Q1 FY26: ₹96 crores)

*Profit Before Tax:** Decreased 30% YoY to ₹118 crores (Q1 FY26: ₹169 crores)

*Profit After Tax:** Decreased 38% YoY to ₹88 crores (Q1 FY26: ₹143 crores)

*Note: Profit Before Tax & Profit After Tax growth was impacted by higher forex gains in Q1 FY26

Segment Wise Revenue Performance

Agrochemical Segment: Revenue of ₹915 crores, up 8% YoY (Q1 FY26: ₹846 crores), contributing 85% of total revenue

Non-Agro Segment: Revenue of ₹159 crores, up 15% YoY (Q1 FY26: ₹139 crores), contributing 15% of total revenue

Product Wise Revenue Breakup (Agrochemical)

Herbicides: Revenue of ₹457 crores, up 9% YoY (Q1 FY26: ₹420 crores)

Insecticides: Revenue of ₹233 crores, up 13% YoY (Q1 FY26: ₹205 crores)

Fungicides: Revenue of ₹225 crores, up 2% YoY (Q1 FY26: ₹221 crores)

Region Wise Revenue Breakup (Agrochemical Business)

Europe: Revenue of ₹467 crores, down 11% YoY (Q1 FY26: ₹523 crores)

NAFTA: Revenue of ₹339 crores, up 33% YoY (Q1 FY26: ₹256 crores)

LATAM: Revenue of ₹72 crores, up 52% YoY (Q1 FY26: ₹47 crores)

RoW: Revenue of ₹37 crores, up 78% YoY (Q1 FY26: ₹21 crores)

Region Wise Revenue Breakup (Non-Agrochemical Business)

Europe: Revenue of ₹19 crores, down 12% YoY (Q1 FY26: ₹22 crores)

NAFTA: Revenue of ₹121 crores, up 31% YoY (Q1 FY26: ₹93 crores)

LATAM: Revenue of ₹5 crores, down 60% YoY (Q1 FY26: ₹12 crores)

RoW: Revenue of ₹14 crores, up 13% YoY (Q1 FY26: ₹12 crores)

Key Business Highlights

  • Agrochemical volumes declined by 0.60% in Q1 FY27
  • Capex in Q1 FY27 stands at ₹263 crores
  • Product registrations reached 3,016 as of 30th June 2026
  • 1,027 registration applications pending at various stages
  • Company remains debt-free with cash, bank balances, and liquid investments of ₹767 crores

Management Commentary

Mr. Ramprakash Bubna, Chairman and MD, commented:

  • Delivered strong start to FY27 with healthy improvements across key operating metrics
  • Revenue growth of 9% YoY to ₹1,074 crores with gross margin expansion of 120 bps to 36.7%
  • EBITDA increased 25% to ₹178 crores with EBITDA margin improvement of 220 bps to 16.6%
  • Performance driven by improved product mix with high value agrochemical molecules growing stronger
  • NAFTA and LATAM delivered robust growth and improved profitability
  • Europe, the largest and historically highest-margin market, witnessed temporary moderation due to reduced re-stocking by distributors caused by heat wave and drought situation in central eastern Europe
  • Agrochemical margins in Europe improved despite volume decline
  • Confident of recovery in European volumes over coming quarters, backed by extensive registration portfolio and long-standing customer relationships
  • Maintains FY27 revenue growth guidance of 10-15%
  • Focused on strengthening long-term growth platform through sustained investments in registration pipeline
  • Balance sheet remains robust with debt-free position and ₹767 crores in cash/liquid investments
  • Ample financial flexibility to pursue future growth opportunities