Insecticides (India) Limited (INSECTICID) Financial Results — Revenue ₹42,795.6 Cr

Investor Takeaways

Reported consolidated net loss of Rs. (76.03) lakhs in FY2026 versus Rs. 459.65 lakh profit in FY2025.

Cash flow from operations increased to Rs. 13,633.85 lakhs in FY2026.

Appointed Sanskar Aggarwal as Whole-Time Director effective May 28, 2026; Nikunj Aggarwal resigned same day.

Dissolved Dubai subsidiary during the fiscal year.

Unmodified auditor's opinion confirmed for FY2026.

Overall Tone: Cautious

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹2,931.60 lakhs	N/A
Net Profit	₹(76.03) lakhs	Decline from ₹459.65 lakh profit
Cash Flow from Operations	₹13,633.85 lakhs	Improved from prior year
EPS	Not available	N/A
OPM	Not available	N/A

What Changed

The company reversed from a profit of Rs. 459.65 lakh in FY2025 to a net loss of Rs. (76.03) lakhs in FY2026, indicating a significant deterioration in profitability. Despite this, cash flow from operations strengthened to Rs. 13,633.85 lakhs, suggesting improved operational liquidity. The board approved the audited FY2026 results, appointed Sanskar Aggarwal as Whole-Time Director, and accepted Nikunj Aggarwal’s resignation effective May 28, 2026. Additionally, the company dissolved its Dubai subsidiary during the fiscal year, which may have impacted financials. The unmodified auditor's opinion confirms no material reservations in the financial statements.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Insecticides (India) Limited	15.74	N/A	N/A	2,103.19
Solar Industries India Limited	132.27	N/A	N/A	1,56,674.48
Pidilite Industries Limited	75.73	N/A	N/A	1,49,378.89
SRF Limited	69.51	N/A	N/A	79,723.46

The company trades at a significantly lower P/E ratio compared to peers like Solar Industries, Pidilite, and SRF, suggesting potential undervaluation or lower market expectations. However, peers' ROE and ROCE data are not available for direct comparison.

Risks & Concerns

Net loss of Rs. (76.03) lakhs marks a sharp decline from prior year’s profit, signaling potential operational or market challenges.

No specific risks detailed in the filing; however, the profitability reversal warrants monitoring.

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	357.7	17.36	8.64
Q2FY25	627.09	61.49	14.28
Q1FY25	656.69	49.01	10.89
Q4FY24	272.5	7.76	3.28

The quarterly trend shows fluctuating profitability, with Q2FY25 delivering the highest profit (₹61.49 Cr) and Q4FY24 the lowest (₹7.76 Cr). OPM declined from 14.28% in Q2FY25 to 3.28% in Q4FY24, indicating margin pressure in the final quarter. The FY2026 net loss appears to be an outlier compared to recent quarterly performance, which showed consistent profits and improving margins in earlier quarters. The annual loss may reflect exceptional items or one-time adjustments not captured in quarterly trends.

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