India Pesticides gains EU approval for fungicide

India Pesticides received Technical Equivalence (TEQ) approval in the European Union for a fungicide product on May 29, 2026. This regulatory milestone is expected to strengthen the company's export business by enhancing access to the European market. The approval is anticipated to contribute positively to export revenues and augment foreign exchange earnings.

The achievement marks a significant step in the company's global expansion strategy. By securing TEQ approval, India Pesticides can now market its fungicide product within the EU, catering to the international market segment.

Product Details

The approval specifics were disclosed in a filing submitted to the stock exchanges. The following table outlines the key details of the approved product:

Particulars:	Description
Name of the Product:	Fungicide
Date of Approval:	29-05-2026
Category of the Product:	Pesticides
Market Catered:	International Market
Countries of Launch:	European Union

The disclosure was made in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information is also available on the company's website.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.82%	+0.91%	-6.31%	-1.81%	-29.22%	-55.28%

India Pesticides has received a tax demand of ₹7,09,58,949.00 following a block assessment order for the period from April 1, 2018, to February 10, 2025. The demand was raised by the Office of the Assistant Commissioner of Income Tax, Central Circle-II, Lucknow, under Section 156 of the Income-tax Act, 1961. The company stated that it does not anticipate any material financial impact and intends to challenge the order legally.

The tax authority conducted a search and seizure operation under Section 132 of the Income-tax Act on December 12, 2024, covering the company and its group entities. This action led to the initiation of block assessment proceedings under Sections 158BC read with 143(3) of the Act. The resulting assessment order includes additions aggregating to ₹10,12,15,449, attributed to alleged unexplained investment in stock under Section 69 and profit from alleged unaccounted sales.

India Pesticides has examined the notice and, based on legal advice, maintains that the demand is not tenable in law. The company is currently evaluating its options to avail legal remedies and plans to file an appropriate appeal against the demand order. Management expressed confidence that the development will not have a material financial effect on the company.

Details of the Tax Demand

Particulars	Details
Type of communication	Notice of Demand under Section 156 of the Income-tax Act, 1961
Date of receipt	June 29, 2026
Authority	Office of the Asst. Commissioner of Income Tax, Central Circle-II, Lucknow
Block assessment period	April 1, 2018 to February 10, 2025
Quantum of demand	₹7,09,58,949.00
Aggregate additions	₹10,12,15,449