GSP Crop Science LimitedQ1 FY27 Results & Financial Update
GSP Crop Science Limited: Q1 FY27 consolidated results and company financials – revenue ₹386.00 Cr, PAT ₹26.39 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore GSP Crop Science Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During the quarter ended June 30, 2026 (Q1 FY27), GSP Crop Science recorded a consolidated revenue from operations of INR 3,860 million, supported by resilient domestic business momentum despite international headwinds.
Global geopolitical developments, climate-related risks, and supply chain disruptions restricted the availability of key raw materials, introducing volatility into input pricing during the period.
Despite external raw material pressures, gross profit expanded by 10% year-on-year to INR 1,424 million, resulting in an improved gross profit margin of 36.9% compared to 34.5% in the corresponding quarter of the previous year, aided by a favorable product mix.
Employee benefit expenses rose over the same period last year due to a larger employee base and annual salary increments, while other expenses increased on account of the commencement of operations at a new subsidiary unit and foreign exchange fluctuations.
Other income registered growth primarily driven by the profit generated from the sale of lease land, while finance costs moderated following the prepayment of term loans.
Profit after tax (PAT) grew 17% year-on-year to INR 264 million, with the PAT margin improving to 6.8% from 6.0% in Q1 FY26.
Operationally, the company finalized the acquisition of the remaining 21% equity stake in GSP Intermediates Private Limited (GIPL) on June 11, 2026, making it a wholly owned subsidiary, and commissioned key infrastructure including the ETP & MEEA plant at Saykha GIDC.
GSP Crop Science reported consolidated revenue from operations of ₹3,860 million (INR 385.995 crore) for the quarter ended June 30, 2026, remaining stable against the corresponding period of the previous year.
01 · Business model
What does GSP Crop Science do?
GSP Crop Science Limited is an India-based crop-protection enterprise engaged in the development, formulation, manufacturing, and distribution of agricultural solutions, catering to both domestic and international markets.
The company's diverse product portfolio comprises insecticides, herbicides, fungicides, and plant growth regulators (PGRs), supported by robust manufacturing capabilities across five operating locations in India and two in-house R&D facilities.
GSP operates across both B2B and B2C segments domestically, backed by an extensive distribution network reaching 23 states, alongside a global footprint spanning 39 countries.
The company leverages a strong intellectual property foundation, holding numerous granted patents and active patent applications, enabling early market entry into off-patent and specialized generic agrochemical molecules.
02 · Historical context
What shaped the business before this quarter
GSP Crop Science Private Limited was incorporated in 1985 before evolving into a public crop protection manufacturer.
Over the decades, the company established multiple production sites including Odhav (1993), Kathwada (2005), Nandesari (2009), and Samba in Jammu & Kashmir (2017), alongside intermediate manufacturing at Saykha.
The company expanded its international reach, establishing a subsidiary in Brazil in 2023 to service Latin American markets and building a portfolio comprising over 300 domestic registrations.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹386.00 Cr |
| Total income | ₹394.25 Cr |
| Profit before tax | ₹35.36 Cr |
| Profit after tax | ₹26.39 Cr |
| EPS | ₹5.67 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Steady domestic demand across both B2B and B2C channels helped maintain revenue stability despite external supply chain hurdles.
International business growth was constrained by limited availability of certain raw materials, although prior-period registrations in markets like Brazil provided a supportive baseline.
Strong growth across domestic B2B and B2C businesses offset temporary international headwinds.
International business was relatively muted due to limited availability of certain raw materials impacting export fulfillment.
Launched a patented insecticide and fungicide mixture in paddy alongside two new maize and soybean herbicides in the Indian B2C market.
What drove margins
Gross profit margins expanded to 36.9% in Q1 FY27 from 34.5% in Q1 FY26, driven primarily by an advantageous shift in product mix.
Operating margins absorbed higher employee costs and increased operational overheads from new subsidiary units, offset partially by lower finance costs resulting from term loan prepayments.
Gross profit margin improved to 36.9% from 34.5% year-on-year, driven by a favorable shift in product mix.
Global supply chain disruptions caused price volatility in key raw materials, though mitigated by longstanding supplier relationships.
05 · Demand, customers & order book
Where demand is coming from
Maintained long-standing relationships with trade partners and agricultural customers associated with the company for over a decade.
Built on long-standing customer relationships with key trade partners associated for over 10 years.
Continued strong market promotion for key proprietary brands including SLR 525, Platform, PCT-410, All Rounder, Afford, Aurthor, Liger, Raavan, and Element.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Experienced healthy demand growth across agricultural solutions and formulations in 23 states.
Maintained revenue growth of 20% over the previous year from planned sales in Brazil, USA, and Africa, supported by prior-year Chlorpyriphos registrations in Brazil.
Initiated work on two futuristic insecticides and one herbicide active ingredient in anticipation of upcoming patent expirations.
Geography and market mix
Sales operations expanded into Kerala, starting with one territory operating under the Tamil Nadu region with a focus on plantation crops.
Initiated product and source registrations in Brazil, Africa, the Middle East, and Asian countries, with regulatory focus centered on Chlorantraniliprole and Methoxyfenzoide.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Capitalized the warehouse at Saykha GIDC and fully commissioned the Effluent Treatment Plant (ETP) and Multi-Effect Evaporator & Agitated Nutsche Filter Dryer (MEEA) plant at Saykha GIDC during Q1 FY27.
Maintains five manufacturing units across Odhav, Kathwada, Nandesari, Samba, and Saykha with significant cumulative installed capacities for formulations and technicals.
Projects, capex and execution
Capitalised warehouse facilities and completed the Effluent Treatment Plant (ETP) and Multiple Effect Evaporator (MEEA) installation at the Saykha GIDC site.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Commenced work on futuristic insecticide and herbicide active ingredients from an IP perspective for early market entry upon patent expirations.
Completed the acquisition of the remaining 21% equity stake in GSP Intermediates Private Limited on June 11, 2026, making GIPL a 100% wholly owned subsidiary.
Filed applications for 10 export-only technical registrations and 8 technical molecule registrations under sections 9(4) and 9(3).
09 · Reported developments
What changed operationally
Reported a 17% year-on-year increase in profit after tax (PAT) to INR 264 million for Q1 FY27.
Gross profit increased 10% year-on-year to INR 1,424 million, with gross margins rising to 36.9%.
PAT grew by 17% year-on-year to ₹264 million, supported by gross margin expansion and lower financing costs.
Full ownership of GSP Intermediates Private Limited achieved through the acquisition of the remaining 21% stake.
10 · Pressure points & risks
What is not going smoothly
Global geopolitical developments, climate risks, and supply chain disruptions created volatility in raw material prices and limited availability, impacting international sales.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Interest costs decreased during the quarter as a result of the prepayment of term loans.
Interest expenses declined year-on-year as a result of term loan prepayments.
12 · Management guidance & targets
What management is targeting from here
Management expressed confidence in the long-term prospects of the industry and company, backed by a strong product pipeline filed for patents.
13 · Beyond the numbers
What changed beyond the numbers
Reported update
Wholly Owned Subsidiary Transition
GSP Intermediates Private Limited became a 100% wholly owned subsidiary following the buyout of the remaining 21% stake.
14 · Key Q&A
The quarter, answered directly
What does GSP Crop Science do?
GSP Crop Science Limited is an India-based crop-protection enterprise engaged in the development, formulation, manufacturing, and distribution of agricultural solutions, catering to both domestic and international markets.
What is the clearest takeaway from Q1 FY27?
During the quarter ended June 30, 2026 (Q1 FY27), GSP Crop Science recorded a consolidated revenue from operations of INR 3,860 million, supported by resilient domestic business momentum despite international headwinds.
What drove revenue or demand?
Steady domestic demand across both B2B and B2C channels helped maintain revenue stability despite external supply chain hurdles.
What mattered most for margins or profitability?
Gross profit margins expanded to 36.9% in Q1 FY27 from 34.5% in Q1 FY26, driven primarily by an advantageous shift in product mix.
What changed operationally beyond the headline numbers?
Capitalized the warehouse at Saykha GIDC and fully commissioned the Effluent Treatment Plant (ETP) and Multi-Effect Evaporator & Agitated Nutsche Filter Dryer (MEEA) plant at Saykha GIDC during Q1 FY27.
What is management guiding or targeting from here?
Management expressed confidence in the long-term prospects of the industry and company, backed by a strong product pipeline filed for patents.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
International Raw Material Supply: Monitor the normalization of raw material availability and its subsequent impact on international export momentum.
- 02
Saykha Facility Integration: Track the operational ramp-up and synergy realization from the newly commissioned ETP and MEEA plant at Saykha GIDC.
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