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15 Days Price Change

GSP Crop Science IPO

Closing In

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WEBSITE Inc. Year: 1985 Industry: Pesticides & Agrochemicals Listed Page

Profile
Issue Size 286.32 Cr
Profile
Price Range 304  to  320 per share
Profile
Min Investment ₹320
Profile
Lot Size 1
Profile
Face Value ₹10
Profile
Draft Prospectus
Invest Before the IPO Goes Live

Buy unlisted shares early and participate in the growth before public listing.

Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

We are a research-driven agrochemical company, specializing in the development and manufacturing of insecticides, herbicides, fungicides and plant growth regulators in India, with over 39 years of experience in the agrochemical industry. We provide our customers with crop protection solutions designed to support farmers in maximizing productivity and achieving optimal agricultural output through development, manufacturing, supply and distribution of (i) formulations, which refer to products composed of ‘active ingredients’, chemical compounds in a product responsible for achieving the desired effects on the target pests, weeds, or plant diseases and ‘additives’ which improve the product's performance, stability, and ease of use , in definite proportion obtaining well-defined target properties (“Formulations”); and (ii) technicals, which refer to concentrated form of the ‘active ingredients’ which are processed with other ingredients to develop formulations (“Technicals”). Read More

Basic Info

Face Value 10 per share

Price 304  to  320 per share

P/E (x) 15

Sales( Cr.) 1287

PAT( Cr.) 81

EPS 21.4

Draft Prospectus

Exchange --

Promoter

Company Promoters

Bhavesh Vrajmohan Shah Tirth Kenal Shah Vilasben Vrajmohan Shah Falguni Kenal Shah Alpha Trust Kappa Trust

Pre Issue Share Holding 98.25%

Post Issue Share Holding 71.73%

Listing Details:

Listing Price: 332.3

Listing Gain: 3.7%

Current Price: 435.5

Gain On Issue: 435.5 | 0%

GMP: 2

GMP %: 0.6 %

IPO Tentative Timetable

Opening Date Mar 16, 2026
Closing Date Mar 18, 2026
Allotment Mar 19, 2026
Refund Mar 20, 2026
Delivery of Shares Mar 20, 2026
Listing Date Mar 23, 2026

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 46 14,720
Retail (Max) 13 598 191,360
S-HNI (Min) 14 644 206,080
S-HNI (Max) 67 3082 986,240
B-HNI (Min) 68 3128 1,000,960

Objective of the Issue

1. Repayment or pre-repayment of all or a portion of certain outstanding borrowings availed by our Company 2. General corporate purposes.

Issue

Category Nos Bid Bid (x)
QIB 2499998 6646356 2.7x
NII 1934211 5889840 3x
Retail 4513158 1825648 0.4x
EMP 0 0 0x
Total 8947367 14361844 1.6x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

GSP Crop Science Profit & Loss

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 688 743 903 1077 1191 1203 1152 1287
Other Income 1 1 4 11 11 3 6 14
Total Income 689 744 908 1088 1203 1206 1158 1301
Total Expenditure 609 667 832 949 1062 1125 1028 1137
Operating Profit 80 77 76 140 141 81 130 164
Interest 25 26 25 18 24 37 34 31
Depreciation 24 21 18 18 20 21 20 23
Exceptional Income / Expenses -55 0 0 0 0 0 0 0
Profit Before Tax -23 30 34 103 97 23 77 110
Provision for Tax 1 5 12 36 25 6 21 28
Profit After Tax -24 25 21 68 72 18 56 81
Adjustments 0 -0 -0 0 3 4 6 2
Profit After Adjustments -24 25 21 68 76 21 61 83
Adjusted Earnings Per Share -5.4 5.7 4.8 15.3 17.1 5.2 15.7 21.4

GSP Crop Science Balance Sheet

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 288 314 331 396 469 363 370 450
Minority's Interest -1 -1 0 0 0 0 -0 2
Borrowings 28 32 15 10 120 98 55 76
Other Non-Current Liabilities -15 -17 -12 -10 -14 -7 -11 -18
Total Current Liabilities 382 433 397 511 676 669 569 720
Total Liabilities 683 761 731 907 1250 1124 983 1230
Fixed Assets 167 161 159 161 166 169 177 214
Other Non-Current Assets 16 24 17 17 40 58 71 87
Total Current Assets 500 576 555 729 1044 897 735 929
Total Assets 683 761 731 907 1250 1124 983 1230

GSP Crop Science Cash Flow

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 24 16 9 6 51 123 20 30
Cash Flow from Operating Activities 54 57 80 114 -44 104 207 38
Cash Flow from Investing Activities -16 -13 -23 -19 -42 -47 -19 -80
Cash Flow from Financing Activities -36 -51 -59 -50 157 -159 -178 30
Net Cash Inflow / Outflow 2 -8 -2 45 71 -102 9 -12
Closing Cash & Cash Equivalent 27 9 6 51 123 20 30 18

GSP Crop Science Ratios

# Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -5.39 5.72 4.82 15.33 17.11 5.18 15.68 21.38
CEPS(Rs) -0.07 10.38 8.83 19.41 20.86 9.36 19.32 26.87
DPS(Rs) 0 0.33 0.47 0.67 0.73 0.13 0.67 0.75
Book NAV/Share(Rs) 65.22 70.93 74.89 89.52 105.96 88.18 94.94 115.34
Core EBITDA Margin(%) 11.23 10.26 6.7 9.41 8.98 5.18 8.79 9.71
EBIT Margin(%) 0.25 7.61 5.46 8.9 8.37 3.97 7.82 9.08
Pre Tax Margin(%) -3.26 4.1 3.14 7.57 6.72 1.54 5.41 7.08
PAT Margin (%) -3.38 3.41 2.01 4.96 5.02 1.16 3.93 5.26
Cash Profit Margin (%) -0.05 6.18 3.66 6.28 6.4 2.54 5.33 6.77
ROA(%) -3.5 3.51 2.88 8.27 6.7 1.48 5.27 7.36
ROE(%) -8.28 8.42 6.65 18.63 16.73 4.22 15.13 19.85
ROCE(%) 0.36 11.1 11.46 23.5 18.23 8.16 17.09 20.81
Receivable days 112.15 107.13 85.52 76.45 88.49 98.93 95.42 83.91
Inventory Days 104.39 122.19 86.47 67.97 85.7 87.67 74.4 70.17
Payable days 111.91 143.12 122.47 139.2 158.36 148.13 143.55 139.06
PER(x) 0 0 0 0 0 0 0 0
Price/Book(x) 0 0 0 0 0 0 0 0
Dividend Yield(%) 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.32 0.29 0.19 0.09 0.18 0.26 0.19 0.23
EV/Core EBITDA(x) 2.71 2.78 2.3 0.71 1.55 3.8 1.7 1.84
Net Sales Growth(%) 0 8 21.62 19.22 10.6 1.01 -4.25 11.74
EBIT Growth(%) 0 3066.44 2.95 108.84 -0.78 -50.02 83.4 27.2
PAT Growth(%) 0 206.18 -15.37 215.77 6.75 -75.7 216.05 46.6
EPS Growth(%) 0 206.09 -15.65 217.85 11.66 -69.72 202.59 36.37
Debt/Equity(x) 0.74 0.64 0.51 0.35 0.68 0.89 0.64 0.66
Current Ratio(x) 1.31 1.33 1.4 1.43 1.55 1.34 1.29 1.29
Quick Ratio(x) 0.78 0.65 0.87 0.84 0.99 0.82 0.89 0.78
Interest Cover(x) 0.07 2.17 2.36 6.69 5.08 1.63 3.25 4.55
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 12% 3% 7% 0%
Operating Profit CAGR 26% 5% 17% 0%
PAT CAGR 45% 4% 31% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% NA%
ROE Average 20% 13% 15% 10%
ROCE Average 21% 15% 18% 14%

Company Contact Information

GSP Crop science Ltd.

Kamleshbhai D Patel

+91 79 61915165

cs@gspcrop.com

404, Lalita Complex 352/3, Rasala Road Mithakhali Six Road, Navrangpura

IPO Lead Manager(s)

GSP Crop science Ltd.

Equirus Capital Pvt Ltd

Motilal Oswal Investment Advisors Pvt Ltd

Registrar Info

GSP Crop science Ltd.

MUFG Intime India Pvt Ltd.

C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai Mumbai City Maharashtra 400083

rnt.helpdesk@in.mpms.mufg.com

https://in.mpms.mufg.com/

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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