Pesticides & Agrochemicals · Founded 1987 · www.supercropsafe.com · BSE 530883 · · ISIN INE366G01022
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Business
Super Crop Safe Ltd. is an Indian company primarily engaged in the manufacturing and marketing of pesticides and agrochemicals. Its core business involves the production and distribution of a range of crop protection products, including insecticides, fungicides, herbicides, and plant growth regulators. The company's business model revolves around developing formulations, sourcing raw materials, manufacturing these products, and distributing them to farmers across various agricultural regions to enhance crop yield and protect against pests and diseases. It generates revenue through the sales of these agrochemical products.
Revenue Mix
Super Crop Safe Ltd. operates predominantly within the Pesticides & Agrochemicals sector. While a specific segment breakdown with percentages is not publicly available, the company's revenue primarily comes from the sale of its diverse portfolio of crop protection products. This portfolio typically includes generic formulations of insecticides, fungicides, and herbicides, catering to various crop types and pest management needs.
Industry
The Indian Pesticides & Agrochemicals industry is highly competitive, characterized by the presence of large multinational corporations, established domestic players, and numerous smaller regional companies. The industry is closely linked to agricultural cycles, monsoon patterns, government policies, and farmer income. Super Crop Safe Ltd. likely positions itself as a regional or mid-tier player, competing on product quality, competitive pricing, and its distribution network within specific geographies or product categories in the Indian market. It operates in a market driven by the need for food security and increasing agricultural productivity.
MOAT
Super Crop Safe Ltd.'s competitive advantages are likely derived from:
Cost Efficiency: Ability to produce generic agrochemical formulations at competitive prices.
Distribution Network: A potentially strong and established distribution network in specific regional markets, allowing access to farmers.
Product Portfolio: A diversified range of products catering to various crop protection needs.
It is less likely to possess a strong moat from proprietary R&D or strong brand loyalty akin to innovators, operating more in the generics space.
Growth Drivers
Key factors that can drive growth for Super Crop Safe Ltd. over the next 3-5 years include:
Increasing Food Demand: India's growing population and the need for enhanced agricultural productivity.
Farmer Awareness & Adoption: Rising awareness among farmers about the benefits of using agrochemicals for better yields and quality.
Government Initiatives: Policies promoting agricultural growth, irrigation, and farm mechanization.
Product Portfolio Expansion: Launch of new generic formulations or expanding into niche segments.
Market Penetration: Strengthening distribution in underserved regions and increasing farmer reach.
Risks
Super Crop Safe Ltd. faces several business risks:
Monsoon Dependency: Indian agriculture is heavily reliant on the monsoon; erratic rainfall can significantly impact demand.
Raw Material Price Volatility: Fluctuations in the prices of key raw materials can affect manufacturing costs and margins.
Intense Competition: High competition from both domestic and international players can put pressure on pricing and market share.
Regulatory Changes: Strict environmental regulations, product bans, or changes in registration processes for agrochemicals.
Pest Resistance: Development of resistance in pests to existing formulations, requiring continuous product innovation or modification.
Working Capital Management: Managing inventory and receivables efficiently due to the seasonal nature of demand.
Management & Ownership
Super Crop Safe Ltd. is likely promoter-led, typical for many mid-sized Indian companies. Promoters often have a significant stake, reflecting long-term commitment and control. Management quality would be assessed based on their experience in the agrochemical sector, strategic decision-making, and financial performance over time. Without specific details on individual management profiles, it's generally assumed that leadership has relevant industry experience.
Outlook
Super Crop Safe Ltd. operates in a structurally growing sector driven by India's food security needs and the increasing professionalization of agriculture. The company has potential to grow by expanding its product portfolio, strengthening its distribution network, and capitalizing on rising farmer awareness. However, its outlook is subject to significant risks, including the vagaries of the monsoon, intense competition, volatile raw material prices, and evolving regulatory landscape. Sustained growth will depend on its ability to manage these risks effectively, maintain cost efficiencies, and adapt to changing market dynamics.
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 8 | 10 | 12 | 13 | 10 | 9 | 15 | 17 | 14 | 19 |
| Other Income | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | -0 | 0 |
| Total Income | 8 | 10 | 12 | 13 | 10 | 9 | 15 | 17 | 14 | 19 |
| Total Expenditure | 7 | 8 | 11 | 11 | 10 | 9 | 14 | 16 | 13 | 17 |
| Operating Profit | 1 | 2 | 1 | 1 | 0 | 1 | 1 | 1 | 0 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 1 | 1 | 1 | -1 | 0 | 1 | 0 | -0 | 1 |
| Provision for Tax | 0 | 0 | 0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Profit After Tax | 0 | 1 | 1 | 1 | -1 | 0 | 1 | 0 | -0 | 1 |
| Adjustments | 0 | 0 | 0 | -0 | 0 | 0 | 0 | -0 | 0 | 0 |
| Profit After Adjustments | 0 | 1 | 1 | 1 | -1 | 0 | 1 | 0 | -0 | 1 |
| Adjusted Earnings Per Share | 0 | 0.3 | 0.1 | 0.2 | -0.1 | 0.1 | 0.2 | 0.1 | -0 | 0.3 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 63 | 72 | 75 | 68 | 64 | 52 | 44 | 20 | 23 | 31 | 45 | 65 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 64 | 72 | 75 | 68 | 65 | 52 | 44 | 20 | 23 | 31 | 45 | 65 |
| Total Expenditure | 61 | 69 | 70 | 61 | 56 | 49 | 47 | 24 | 19 | 27 | 41 | 60 |
| Operating Profit | 2 | 3 | 5 | 8 | 9 | 4 | -3 | -4 | 3 | 4 | 4 | 4 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 1 | 1 | 3 | 6 | 6 | 1 | -6 | -7 | 1 | 1 | 2 | 2 |
| Provision for Tax | 0 | 0 | 0 | 1 | 1 | -0 | -0 | -0 | -0 | 0 | -0 | 0 |
| Profit After Tax | 0 | 1 | 3 | 5 | 5 | 2 | -6 | -6 | 1 | 1 | 2 | 2 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 1 | 3 | 5 | 5 | 2 | -6 | -6 | 1 | 1 | 2 | 2 |
| Adjusted Earnings Per Share | 0.1 | 0.4 | 0.7 | 1.3 | 1.4 | 0.4 | -1.4 | -1.6 | 0.3 | 0.3 | 0.5 | 0.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 45% | 31% | -3% | -3% |
| Operating Profit CAGR | 0% | 0% | 0% | 7% |
| PAT CAGR | 100% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 9% | 5% | 12% | -6% |
| ROE Average | 8% | 6% | -5% | 5% |
| ROCE Average | 6% | 6% | -0% | 8% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 7 | 10 | 22 | 27 | 35 | 37 | 31 | 25 | 26 | 27 | 29 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22 | 29 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 |
| Total Current Liabilities | 21 | 20 | 21 | 26 | 33 | 33 | 32 | 32 | 33 | 38 | 32 |
| Total Liabilities | 29 | 30 | 43 | 53 | 68 | 71 | 64 | 57 | 59 | 88 | 91 |
| Fixed Assets | 3 | 4 | 5 | 6 | 7 | 7 | 6 | 5 | 5 | 5 | 4 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16 | 15 |
| Total Current Assets | 25 | 26 | 38 | 47 | 61 | 64 | 58 | 52 | 55 | 67 | 72 |
| Total Assets | 29 | 30 | 43 | 53 | 68 | 71 | 64 | 57 | 59 | 88 | 91 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 1 | 1 | -8 | -1 | -1 | 2 | -1 | 0 | 1 | -18 | -3 |
| Cash Flow from Investing Activities | -0 | -1 | -2 | -2 | -1 | -1 | -0 | 1 | 0 | -2 | 1 |
| Cash Flow from Financing Activities | -0 | 0 | 10 | 2 | 2 | -2 | 1 | -0 | -2 | 20 | 2 |
| Net Cash Inflow / Outflow | 0 | 0 | 0 | 0 | -0 | -0 | -0 | 1 | -0 | 0 | 0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.14 | 0.37 | 0.73 | 1.26 | 1.38 | 0.37 | -1.37 | -1.61 | 0.25 | 0.33 | 0.54 |
| CEPS(Rs) | 0.35 | 0.53 | 0.89 | 1.45 | 1.59 | 0.62 | -1.14 | -1.41 | 0.41 | 0.47 | 0.66 |
| DPS(Rs) | 0.1 | 0.12 | 0.14 | 0.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 2.61 | 3.22 | 5.43 | 6.85 | 8.31 | 9.12 | 7.75 | 6.15 | 6.4 | 6.73 | 7.27 |
| Core EBITDA Margin(%) | 2.75 | 4.04 | 5.74 | 10.76 | 12.86 | 7.43 | -7.5 | -22.44 | 14.47 | 12.72 | 9.56 |
| EBIT Margin(%) | 2.18 | 3.38 | 5.39 | 9.75 | 12.07 | 5.59 | -8.76 | -25.17 | 11.71 | 11.08 | 8.52 |
| Pre Tax Margin(%) | 0.77 | 1.92 | 3.84 | 7.99 | 9.92 | 2.77 | -12.84 | -32.79 | 4.28 | 4.46 | 4.51 |
| PAT Margin (%) | 0.58 | 1.56 | 3.43 | 7.04 | 8.45 | 2.86 | -12.5 | -32.31 | 4.49 | 4.26 | 4.77 |
| Cash Profit Margin (%) | 1.49 | 2.23 | 4.19 | 8.12 | 9.75 | 4.72 | -10.41 | -28.42 | 7.29 | 6.09 | 5.89 |
| ROA(%) | 1.49 | 4.09 | 7.53 | 10.23 | 8.99 | 2.17 | -8.16 | -10.63 | 1.74 | 1.81 | 2.42 |
| ROE(%) | 5.29 | 13.49 | 17.91 | 20.84 | 18.23 | 4.32 | -16.22 | -23.12 | 4.01 | 5.04 | 7.69 |
| ROCE(%) | 10.85 | 17.05 | 18.29 | 19.5 | 17.78 | 6 | -8 | -11.36 | 6.25 | 6.35 | 5.59 |
| Receivable days | 68.39 | 69.26 | 84.2 | 130.51 | 173.9 | 229.67 | 270.88 | 530.94 | 437.48 | 255.59 | 128.75 |
| Inventory Days | 49.97 | 46.77 | 53.93 | 80.98 | 120.65 | 193.37 | 226.23 | 454.43 | 411.02 | 360.46 | 283.89 |
| Payable days | 68.11 | 60.77 | 57.93 | 68.98 | 91.87 | 130.36 | 130.67 | 220.46 | 281.29 | 233.73 | 148.97 |
| PER(x) | 25.5 | 15.11 | 39.02 | 23.81 | 17.17 | 21.09 | 0 | 0 | 18.28 | 43.25 | 27.8 |
| Price/Book(x) | 1.35 | 1.75 | 5.27 | 4.37 | 2.85 | 0.86 | 1.03 | 1.01 | 0.72 | 2.13 | 2.06 |
| Dividend Yield(%) | 2.84 | 2.14 | 0.49 | 0.33 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.25 | 0.33 | 1.55 | 1.89 | 1.65 | 0.84 | 1.08 | 2.08 | 1.57 | 3.09 | 2.26 |
| EV/Core EBITDA(x) | 7.74 | 7.65 | 23.5 | 17.04 | 12.38 | 11.31 | -16.24 | -9.51 | 10.84 | 23.96 | 23.48 |
| Net Sales Growth(%) | 3.93 | 14.04 | 3.89 | -8.92 | -5.67 | -18.58 | -16.06 | -54.58 | 12.7 | 38.64 | 45.26 |
| EBIT Growth(%) | -11.64 | 76.89 | 66.83 | 57.47 | 13.77 | -62.32 | -231.64 | -30.55 | 152.43 | 31.18 | 11.66 |
| PAT Growth(%) | -20.76 | 206.32 | 130.03 | 78.5 | 10.31 | -72.44 | -466.67 | -17.4 | 115.67 | 31.55 | 62.52 |
| EPS Growth(%) | -20.76 | 169.54 | 96.96 | 71.68 | 9.52 | -72.91 | -466.69 | -17.41 | 115.67 | 31.55 | 62.52 |
| Debt/Equity(x) | 0.88 | 0.59 | 0.43 | 0.46 | 0.41 | 0.35 | 0.51 | 0.69 | 0.66 | 1.45 | 1.46 |
| Current Ratio(x) | 1.22 | 1.35 | 1.8 | 1.8 | 1.87 | 1.93 | 1.79 | 1.63 | 1.65 | 1.77 | 2.27 |
| Quick Ratio(x) | 0.67 | 0.91 | 1.07 | 1.19 | 1.04 | 1.06 | 0.99 | 0.88 | 0.84 | 0.85 | 1.14 |
| Interest Cover(x) | 1.54 | 2.31 | 3.48 | 5.53 | 5.61 | 1.98 | -2.15 | -3.3 | 1.58 | 1.67 | 2.13 |
| Total Debt/Mcap(x) | 0.65 | 0.34 | 0.08 | 0.1 | 0.15 | 0.4 | 0.49 | 0.68 | 0.92 | 0.68 | 0.71 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 37.54 | 36.13 | 34.82 | 34.52 | 34.06 | 32.72 | 32.48 | 32.36 | 32.21 | 30.7 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 62.46 | 63.87 | 65.17 | 65.48 | 65.94 | 67.28 | 67.52 | 67.64 | 67.79 | 69.3 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.51 | 1.45 | 1.4 | 1.39 | 1.37 | 1.32 | 1.31 | 1.3 | 1.3 | 1.23 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 2.51 | 2.57 | 2.62 | 2.63 | 2.65 | 2.71 | 2.72 | 2.72 | 2.73 | 2.79 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +45% | +31% | -3% | -3% |
| Operating Profit CAGR | 0% | — | 0% | +7% |
| PAT CAGR | +100% | — | 0% | — |
| Share Price CAGR | +9% | +5% | +12% | -6% |
| ROE Average | +8% | +6% | -5% | +5% |
| ROCE Average | +6% | +6% | 0% | +8% |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 37.54 | 36.13 | 34.82 | 34.52 | 34.06 | 32.72 | 32.48 | 32.36 | 32.21 | 30.7 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 62.46 | 63.87 | 65.17 | 65.48 | 65.94 | 67.28 | 67.52 | 67.64 | 67.79 | 69.3 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.51 | 1.45 | 1.4 | 1.39 | 1.37 | 1.32 | 1.31 | 1.3 | 1.3 | 1.23 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 2.51 | 2.57 | 2.62 | 2.63 | 2.65 | 2.71 | 2.72 | 2.72 | 2.73 | 2.79 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 |
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