Three Non-Executive Directors resigned from India Pesticides Limited on June 6, 2026, effective from the close of business hours, completing the company's transition to a professionally managed Board structure. Mr. Anand Swarup Agarwal, Mr. Vishal Swarup Agarwal, and Mr. Vishwas Swarup Agarwal stepped down from their positions and from all Board committees to facilitate the next phase of leadership and governance. The company stated that there are no material reasons for the resignations other than the stated transition towards enhanced corporate governance.

The disclosures were made to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation letters confirmed that the company has evolved into a professionally managed organization with a robust governance framework and well-established systems and processes. Following these changes, the Board of Directors is now comprised entirely of independent professionals, with no promoter representation.

The resignations were submitted via letters dated June 6, 2026. The Board placed on record its sincere appreciation for the valuable guidance, support, and contributions made by the directors during their tenure. The promoter family remains committed to the company's long-term vision and will continue to support its growth as significant shareholders.

The transition is intended to strengthen the company's corporate governance framework. The new Board includes professionals with experience across business strategy, capital markets, manufacturing operations, technology, sustainability, and international markets.

India Pesticides Limited reported a net profit of ₹120 crore for the financial year ended March 31, 2026, an increase of 45.8% from ₹82 crore in the previous year. Revenue from operations for the year stood at ₹1,078 crore, compared to ₹843 crore in FY25. The performance was driven by strong domestic demand, volume growth, and improved operational efficiencies, with EBITDA increasing by 44.7% to ₹194 crore. Earnings per share (EPS) improved to ₹10.40 from ₹7.14 in the previous year. The Board of Directors has recommended a dividend of ₹0.75 per equity share of face value ₹1 each for the financial year ended March 31, 2026, subject to shareholder approval.

Financial Performance Overview

The following table summarises the consolidated financial performance for FY26:

Quarterly Results

In the quarter ended March 31, 2026, net profit was ₹31 crore, compared to ₹22 crore in the same quarter last year. Total income for Q4 stood at ₹271 crore versus ₹211 crore in Q4 of the prior year. The quarterly results reflect a robust growth trajectory supported by higher demand for the company's product portfolio. EBITDA for the quarter increased to ₹46 crore from ₹35 crore in the corresponding quarter last year.

Key quarterly metrics are presented below:

Operational Highlights and Corporate Actions

The Technical & API segments continued to drive growth, contributing significantly to the total revenue. Management attributed the success to process optimization and backward integration. Domestic sales during Q4 FY26 increased significantly to ₹183 crore compared to ₹118 crore in the corresponding quarter last year, largely driven by strong demand for herbicides and intermediates. The company achieved approximately 30% volume growth during the quarter.

The Board of Directors, at its meeting on May 23, 2026, approved the audited financial results and re-appointed M/s Honey Singh & Associates, Cost Accountants, as the Cost Auditor for the financial year 2026-27. The company also re-appointed M/s Seth & Associates, Chartered Accountants, as the Internal Auditor. Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the statutory auditors, M/s Suresh Surana & Associates LLP, issued an audit report with an unmodified opinion on the standalone and consolidated annual financial results for the year ended March 31, 2026. The record date for determining eligibility for the dividend payment is August 24, 2026.

Conference Call and Future Outlook

During the earnings conference call held on May 25, 2026, management highlighted that the company crossed the ₹1,000 crore revenue mark for the first time. Export revenues contributed approximately 39% of total revenues during FY26. The company commissioned an intermediate plant towards backward integration and is developing the Hamirpur facility for future capacity expansion. Formulation capacity has scaled up to 10,000 metric tonnes.

For FY27, the company expects a revenue increase of 15% to 20% and aims to maintain EBITDA margins between 18% and 20%. The Capex budget for 2026-27 is ₹45 crore for India Pesticides and ₹90 crore for its 100% subsidiary, funded primarily through internal accruals. Management reiterated its long-term guidance to achieve ₹3,000 crore revenue by March 2031, with the Shalvis facility expected to contribute approximately ₹1,000 crore by then.