GSP Crop Science LimitedAgriculture & AlliedGSPCROP
Q1 FY27 earnings callGSP Crop Science Limited
Stable revenue and a 16% PAT increase driven by growth in high-margin patented products and improved gross margins, despite export headwinds.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue | INR386 crores | — | |
| PAT | INR26.4 crores | 16% | |
| EBITDA Margin | 11% | — |
TL;DR
- Revenue stable at INR386 crores.
- PAT increased 16% to INR26.4 crores.
- Gross margins improved due to product mix shift towards patented products.
- Export business (10% of revenue) faced temporary raw material constraints.
- ICRA rating upgraded to A+/A1 after IPO loan repayment.
Said on the call
“Our aim is to almost double it over the period of 3 years.”
From the Q&A
| Topic | What management said |
|---|---|
| Business Mix and Growth | Current mix: 45% B2C, 45% B2B, 10% exports; 75% formulations, 25% technicals. Aims to double patented product share in B2C business over 3 years. |
| Export Challenges | Brazil demand delayed due to price volatility and logistical issues; some orders shifted to China. Cautious due to liquidity/credit challenges. |
| R&D Pipeline | Plans to launch one or two new technical products and two or three new patented formulations every year for the next 4-5 years. |
| Profit Analysis | Other income of INR83 million included a one-off INR5.7 crore gain from land sale; no similar gains expected in coming quarters. |
| Kharif Season and Outlook | Monsoon improved in July, leading to good Q2 demand; GSP strong in insecticides and expects to benefit. On track for anticipated growth. |
| Market Share and Targets | Current domestic market share around 3%-3.5%; aims to reach 7%-8%. Expects 15% revenue growth and 13%-14% EBITDA growth over next 2-3 years. |
Guidance
- Expects to grow faster than industry growth rate.
- Anticipates EBITDA around 12% to 13%.
- Projects 13% to 14% EBITDA growth over next 2-3 years.
- Sees Q2 proportion of PAT similar to last year (~60% of full year).
Source
Summary written from the transcript filed by GSP Crop Science Limited for the call held on 12 Aug 2026; published 22 Aug 2026, 16:23 IST.