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Earnings Call Transcript

Insecticides (India) Earnings Call Transcript: Key Takeaways

Q1FY27 was impacted by delayed monsoons, shifting demand later. Despite revenue decline, gross margins improved due to premiumization and inventory management, though EBITDA softened on negative operating leverage.

Guidance and delivery
Management target Revenue 100.0% FY31
Highlights
Revenue growthRevenue declined 5% YoY to ₹609Cr due to delayed monsoon.
MarginsGross margins expanded to 31.6%; EBITDA margin contracted to 9.1%.
Demand visibilityImproving demand visibility following better August rains across the country.
Management confidenceBalanced; optimistic about Q2-Q4 recovery despite a difficult Q1.

Growth

Revenue fell 5% YoY to ₹609Cr. Gross profit rose 4% with margins hitting 31.6% via premium products.

Outlook

Management aims to double sales in 4-5 years as capex cycle concludes.

Risks

High raw material volatility (solvents/plastics) and delayed monsoon dependency in Southern India.

Last quarter's promises, checked

Delivered

  • Guided Q4 growth → delivered 19% YoY (= BEAT)
  • Guided FY26 premium product growth → delivered 24% (= BEAT)
  • Guided FY26 revenue growth → delivered 7% (= BEAT)

Partly delivered

  • Guided working capital reduction → delivered 140-150 days (still elevated) (= PARTIAL)

Missed

  • Guided volume growth → delivered 5% vs 13% decline in current Q1 (= MISS)
  • Guided price hike absorption → delivered rollbacks in July (= MISS)
Source

Earnings Call Transcript filed with BSE, NSE: INSECTICID. Summary written with AI assistance from the document.

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Insecticides (India) Ltd: key numbers

Share price
₹602.50
Market cap
₹1,753 Cr
Revenue (annual)
₹2,140 Cr
Net profit (annual)
₹139.4 Cr
P/E (TTM)
14.0×Sector 37.5×
Promoter holding
72.30%+0.00% QoQ
FII holding
4.40%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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Board Meeting Date

Insecticides (India) Board Meeting Date

Insecticides (India) Ltd will hold a board meeting on November 5, 2026, to approve its Q2 financial results. The trading window remains closed from October 1 until the results declaration.