India Pesticides Q2 FY27 Results: Revenue and Profit Decline

Net profit falls to Rs 18.42 crore from Rs 31.61 crore. Revenue from operations dips to Rs 228.71 crore from Rs 290.36 crore.

Reader Takeaway: Revenue and profit both faced double-digit declines, while a Rs 7.10 crore tax dispute adds uncertainty.

What just happened

India Pesticides Ltd announced its unaudited financial results for the quarter ending September 30, 2026. The company recorded a significant contraction across key metrics. Consolidated revenue from operations fell 21.2% year-on-year to Rs 228.71 crore. Consequently, net profit after tax plunged 41.7% to Rs 18.42 crore. Basic Earnings Per Share (EPS) for the quarter dropped to Rs 1.60 from Rs 2.74 in the previous year.

Why this matters

The sharp decline in both top-line and bottom-line figures suggests operational headwinds for the agrochemical player. Investors are now looking for clarity on whether these challenges are seasonal or indicative of structural changes in the demand environment for the company's products.

Tax Litigation Update

The company is contesting a tax demand of Rs 7.10 crore raised by the Income Tax Department. This demand follows an assessment of undisclosed income amounting to Rs 10.12 crore for FY 2024-25. India Pesticides has formally appealed this demand before the Commissioner of Income-tax (Appeals) in Lucknow. Management maintains that the demand is legally untenable, but it remains a material contingent liability for the firm.

What to track next

Shareholders should monitor the progress of the tax appeal at the appellate level. Additionally, future investor communications or management commentary will be critical to understanding the specific market conditions or cost factors driving the current revenue downturn.