Advance Agrolife Limited's Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026, at a meeting held on May 08, 2026. The statutory auditors, M/s S K Patodia & Associates LLP, issued an audit report with an unmodified opinion on the financial results. In compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published the audited financial results as a newspaper advertisement in the Financial Express (English) and Business Remedies (Hindi regional) on May 09, 2026. The company also released an investor presentation detailing the performance, available on its website at www.advanceagrolife.com .

Financial Performance Overview

Advance Agrolife delivered a robust performance for the full year, with total revenue rising to ₹6,417.51 million from ₹5,028.76 million in the previous year, a growth of 28%. Net profit for the year grew to ₹352.84 million compared to ₹256.38 million previously, an increase of 38%. For the quarter ended March 31, 2026, total income stood at ₹1,259.07 million, up 40% year-on-year, with net profit surging 422% to ₹74.61 million versus ₹14.28 million. EBITDA for Q4 FY26 expanded significantly to ₹134 million from ₹57 million in the same quarter of the prior year, with the EBITDA margin improving to 10.82% from 6.35%, year-on-year. For the full year FY26, EBITDA stood at ₹639.90 million, up 34% over FY25, with an EBITDA margin of 9.99%, up 50 bps over the previous year. The following table summarises the key financial metrics:

Balance Sheet and Cash Flow Highlights

The company's total assets expanded significantly to ₹6,249.86 million as at March 31, 2026, compared to ₹3,514.72 million in the prior year. Total equity strengthened to ₹3,099.15 million from ₹1,008.73 million, supported by equity share capital of ₹642.86 million and other equity of ₹2,456.28 million. Inventories increased to ₹2,052.24 million from ₹876.08 million, while trade receivables rose to ₹1,962.41 million from ₹1,630.71 million. The balance sheet expansion reflects the company's ongoing investments in capacity and working capital to support revenue growth.

For the year ended March 31, 2026, net cash used in operating activities was ₹700.35 million, compared to net cash generated of ₹57.13 million in the prior year, primarily driven by a significant increase in inventories and trade receivables. Net cash used in investing activities stood at ₹1,076.70 million, reflecting investments in fixed assets and fixed deposits. Financing activities generated net cash of ₹1,825.81 million, supported by proceeds from the issue of shares and securities premium. Closing cash and cash equivalents for the year stood at ₹54.54 million, up from ₹5.77 million at the end of the previous year. The following table presents the key balance sheet figures:

Management Commentary

Commenting on the performance, Mr. Omprakash Choudhary, CMD, Advance Agrolife Limited, stated: "Advance Agrolife delivered a strong performance in FY26, and Q4 FY26 further indicates a stronger outlook ahead. Our financial performance for the year is the culmination of relentless efforts towards improving internal efficiencies, strengthening backward integration, expanding the customer base, and continuing to remain a strong and reliable partner to our marquee clients."

Strategic Developments and Expansion Plans

During the quarter, the company commenced production of Pretilachlor Technical and its intermediate PEDA (2,6-Diethyl-N-(2-propoxyethyl) Aniline) at its Manufacturing Facility I in Jaipur, with installed capacities of 5,000 MT p.a. and 3,700 MT p.a., respectively. CARE Ratings Limited upgraded the company's Long Term Bank Facilities of ₹1,008.90 million from BBB to BBB+. The company is also executing a 4x capacity expansion in 2,4-D herbicides, targeting production of 10,000 MT by Q4 FY28, and is evaluating the Dahej PCPIR cluster in Gujarat for this expansion to benefit from raw material proximity and potential pipeline access for key inputs. Additionally, the company aims to commence operations at its new Unit-4 technical manufacturing facility at Gidhani by Q2 FY27, with an estimated first-phase capital expenditure of approximately ₹250 million, which is expected to significantly enhance technical manufacturing capabilities. The company has also entered into a Memorandum of Understanding for the acquisition of land admeasuring 17,491.02 sq. mtrs. at Dahej II GIDC Industrial Estate, Bharuch, Gujarat, for setting up Unit-5, a proposed technical grade pesticides manufacturing plant.

The investor presentation highlighted the company's target to increase its export revenue share from approximately 2% currently to 20% by FY29, with a focus on regulated markets in Latin America and Southeast Asia, including Brazil. The company is also in the process of setting up a 3.75 MW solar power plant to increase renewable energy use and reduce its carbon footprint, with regulatory approvals currently under process. The following table summarises the key strategic initiatives and milestones:

Business Profile and Auditor Appointments

Advance Agrolife is a research-driven agrochemical manufacturer with a 20-year legacy in crop protection, operating as a pure-play B2B manufacturer for corporate customers. The company holds 410+ CIB & RC registrations (380 formulations and 30 technicals) and operates three integrated manufacturing facilities with an installed capacity of nearly 90,000 MTPA across Jaipur, Rajasthan. Its client base includes DCM Shriram, IFFCO, Mankind Agritech, HPM, Indogulf, Chambal Fertilisers, NFL, Zuari, and Matrix Fertiliser, with the top 10 customers contributing approximately 69% of revenue. The company has a presence in 19 states and 2 Union Territories domestically, and exports to 7 countries including UAE, Bangladesh, China, Turkey, Egypt, Kenya, and Nepal. As at March 31, 2026, the company had 64.3 million fully paid-up shares outstanding, with promoters holding 69.89%, DIIs holding 4.50%, and public shareholders holding 25.61%.

The board also re-appointed key audit professionals for the financial year 2026-27, as detailed below:

Advance Agrolife Limited has submitted a regulatory filing to BSE Limited and the National Stock Exchange of India Limited, confirming no deviation in the utilisation of proceeds raised through its Initial Public Offer (IPO) for the quarter ended March 31, 2026. The statement, submitted pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, was enclosed with the Monitoring Agency Report issued by CARE Ratings Limited. The filing was signed by Nisha Gupta, Company Secretary and Compliance Officer, on May 08, 2026.

IPO and Issue Details

Advance Agrolife raised funds through a Public Issue–Initial Public Offer (IPO), with equity shares listed on BSE Limited and the National Stock Exchange of India Limited with effect from October 08, 2025. The issue period ran from September 30, 2025, to October 03, 2025. Key details of the issue and the monitoring report are presented below:

Fund Utilisation Progress

CARE Ratings Limited confirmed that all utilisation is as per the disclosures in the Offer Document, with no material deviations from expenditures disclosed and no change in the means of finance towards the disclosed objects. The Chartered Accountant certificate was issued by S K Patodia & Associates LLP dated April 23, 2026. The following table details the progress in utilisation of IPO proceeds across all objects as at March 31, 2026:

No funds were utilised toward working capital requirements during Q4FY26, with Rs. 67.50 crore remaining unutilised under that head. Rs. 25.92 crore was utilised towards General Corporate Purposes (GCP) from the current account during Q4FY26, while Rs. 0.31 crore was spent from the public offer account towards issue-related expenses during the same period.

Deployment of Unutilised Proceeds

The total unutilised amount of Rs. 67.79 crore as on March 31, 2026, has been deployed as follows:

General Corporate Purposes Utilisation

Of the Rs. 34.08 crore earmarked for General Corporate Purposes, the entire amount has been fully utilised as at the end of Q4FY26. The Rs. 25.92 crore deployed during Q4FY26 was directed towards capital expenditure, as per board resolution and confirmed by the Chartered Accountant certificate. As per the prospectus, the company had proposed to deploy the balance net proceeds aggregating to Rs. 34.08 crore towards general corporate purposes, subject to such utilisation not exceeding 25% of the Gross Proceeds of the Issue. The company obtained board approval on October 29, 2025, to utilise the GCP amount towards strategic initiatives, brand building, marketing and promotional activities, capital expenditure, and ongoing general corporate exigencies.

Implementation Timeline and Regulatory Context

The monitoring report also covers the implementation timeline for each object. Funding of working capital requirements is ongoing as per the offer document schedule of FY26 and FY27, with no delay reported. General corporate purposes were completed in FY26 as scheduled, and issue-related expenses remain ongoing with no delay. Under SEBI's Regulation 32, a material deviation is defined as a deviation in the objects or purposes for which funds were raised, or a deviation in the amount of funds actually utilised by more than 10% of the amount projected in the offer documents. CARE Ratings Limited confirmed no such deviations were observed. The filing was submitted on behalf of Advance Agrolife Limited (formerly known as Advance Agrolife Private Limited) by Nisha Gupta, Company Secretary and Compliance Officer, bearing Membership No. A42708.