Income Tax Department Conducts Searches at India Pesticides Offices

One of the top R&D-focused and internationally active agrochemical companies is India Pesticides. Additionally, it is one of the top producers of active pharmaceutical ingredients (APIs) and herbicide and fungicide materials.

Income Tax Department Conducts Searches at India Pesticides Ltd

On December 16, India Pesticides Ltd announced that the Income Tax Department is conducting searches at its registered office as well as other company locations. 

In a regulatory filing, India Pesticides stated, “We would like to inform you that a search by the Income Tax Department is being carried out at the registered office and other premises of the company.”

Company Statement

The company confirmed that it is fully cooperating with the authorities, with its employees providing all necessary information and assistance during the investigation. “The company and its employees are fully cooperating with the authorities and providing them with all necessary information and support,” it added.

India Pesticides Q2 FY25 Results

Insecticides India reported a year-on-year increase of 15.6% in net profit, reaching ₹61.5 crore for Q2 FY25, compared to ₹53.2 crore in the same quarter of the previous fiscal year. However, the company’s revenue from operations decreased by 9.9%, amounting to ₹627 crore, down from ₹696 crore in the corresponding period of the prior fiscal year.

In Q2 FY25, Insecticides India reported a robust 9.2% growth in EBITDA, reaching ₹89.4 crore compared to ₹81.9 crore in Q2 FY24, with EBITDA margins improving to 14.3% from 11.8% in the same period last year. The company’s premium product segment grew by 11%, driven by flagship offerings Focus Maharatna and Maharatna, which now contribute 68% to total B2C sales, up from 65% in Q2 FY24.

India Pesticides Ltd. Share Price Performance 

The share price of India Pesticides Ltd. closed at ₹189.00, 3:30 PM, on the NSE today.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.