Board approves Q2 and H1 FY27 results; auditors' limited review conclusion is unmodified
Board met on 3 Nov 2026 and approved unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026, along with the auditors' limited review reports.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 228.71 | 290.36 | −21.2% | 251.76 | −9.2% |
| Total income | 231.31 | 295.15 | −21.6% | 255.78 | −9.6% |
| Profit before tax | 24.73 | 47.00 | −47.4% | 30.85 | −19.8% |
| Profit after tax | 18.42 | 31.61 | −41.7% | 22.77 | −19.1% |
| Total comprehensive income | 18.18 | 31.58 | −42.4% | 22.87 | −20.5% |
| Basic EPS | 1.60 | 2.74 | −41.6% | 1.97 | −18.8% |
- Total Income (Latest)
- 231.31 (Year ago 295.15, −21.6%; Prev qtr 255.78, −9.6%)
- Profit After Tax (Latest)
- 18.42 (Year ago 31.61, −41.7%; Prev qtr 22.77, −19.1%)
- Period
- Quarter Ended 30th Sept, 2026 (Unaudited)
Auditor's review
Conclusion: Unmodified
- Other matter: 2 subsidiaries (total assets Rs. 108.04 Crores; quarter revenue Rs. 3.34 Crores, net loss (Rs.0.99) Crores) reviewed by other auditors; conclusion not modified.
Notes to the results
- Assessing Officer made additions to undisclosed income of Rs. 10.12 crores, resulting in additional tax demand incl. interest of Rs. 7.10 crores; Company appealed on 24 July 2026; impact not ascertainable.
- Other income for half year ended 30 Sept 2025 and year ended 31 March 2026 includes Rs. 2.29 crores received on settlement of an insurance claim under litigation since FY 2013-14.
- Employee benefits expense for year ended 31 March 2026 includes incremental charge of Rs. 0.60 crores from impact of the Labour Codes.
What the board approved
The board of India Pesticides Ltd met on 3 November 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The statutory auditors, Suresh Surana & Associates LLP, issued limited review reports on both the standalone and the consolidated statements. The consolidated statement covers the holding company and its subsidiaries, Shalvis Specialities Limited and Amona Specialities Private Limited.
Auditor's review conclusion
- The auditors state that nothing has come to their attention that causes them to believe the statements contain a material misstatement or fail to disclose the information required.
- The conclusion is unmodified: there is no qualification, no emphasis of matter and no going-concern doubt.
- In the consolidated review they note that the interim financial information of 2 subsidiaries was reviewed by other auditors.
- A review is narrower than a full audit and gives moderate, not absolute, assurance.
Quarterly figures, standalone
- 'Revenue from operations' was Rs. 226.19 crore, against Rs. 289.63 crore in the same quarter a year earlier.
- 'Profit after tax' was Rs. 19.36 crore, against Rs. 32.04 crore in the same quarter a year earlier.
- The company reports a single operating segment, "Agro Chemicals".
Quarterly figures, consolidated
- 'Revenue from operations' was Rs. 228.71 crore and 'Profit after tax' Rs. 18.42 crore.
Income-tax matter set out in the notes
- The notes record a search by the Income Tax Department in December 2024, in which no assets of the company were seized.
- The Assessing Officer made additions to undisclosed income aggregating Rs. 10.12 crores, which led to an additional tax demand, including interest, of Rs. 7.10 crores.
- The company says, based on legal advice, that the demand is not tenable in law, and has shared an appeal.
- Pending finalisation of the proceedings, the impact on the financial results is stated to be not ascertainable at this stage.
How a retail reader can use this
This is the company's regular quarterly results disclosure. On the printed numbers, the standalone quarter's revenue and profit are lower than in the same quarter a year earlier, while the consolidated quarter is of a similar scale to the standalone quarter. The tax demand is a disclosed, contested item whose financial effect is described as not ascertainable for now.
Also from India Pesticides
India Pesticides Q2 FY27: revenue down 21.6% to Rs. 231 Cr, PAT down 41.7% to Rs. 18 Cr
4 Nov 2026
India Pesticides Q2 FY27: revenue down 21.6% to Rs. 231 Cr, PAT down 41.7% to Rs. 18 Cr
4 Nov 2026
India Pesticides Ltd press release, Q2 FY27
4 Nov 2026
More numbers
- Standalone Revenue from operations, quarter ended 30 Sep 2026Rs. 226.19 crore
- Standalone Profit after tax, quarter ended 30 Sep 2026Rs. 19.36 crore
- Standalone Revenue from operations, quarter ended 30 Sep 2025Rs. 289.63 crore
- Standalone Profit after tax, quarter ended 30 Sep 2025Rs. 32.04 crore
- Additions to undisclosed income by Assessing OfficerRs. 10.12 crores
- Additional income-tax demand including interestRs. 7.10 crores
- Total income, latest quarter231.31 (Rs. In Crore)
- Total income, year-ago quarter295.15 (Rs. In Crore)
- Total income, previous quarter255.78 (Rs. In Crore)
- Total comprehensive income, latest quarter18.18 (Rs. In Crore)
- Total comprehensive income, year-ago quarter31.58 (Rs. In Crore)
- Total comprehensive income, previous quarter22.87 (Rs. In Crore)
- Profit after tax, latest quarter18.42 (Rs. In Crore)
- Profit after tax, year-ago quarter31.61 (Rs. In Crore)
- Profit after tax, previous quarter22.77 (Rs. In Crore)
- Revenue from operations, latest quarter228.71 (Rs. In Crore)
- Revenue from operations, year-ago quarter290.36 (Rs. In Crore)
- Revenue from operations, previous quarter251.76 (Rs. In Crore)
- Profit before tax, latest quarter24.73 (Rs. In Crore)
- Profit before tax, year-ago quarter47.00 (Rs. In Crore)
- Profit before tax, previous quarter30.85 (Rs. In Crore)
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