Equirus Capital Pvt.Ltd.
Motilal Oswal Investment Advisors Ltd.
Founded in 1985, GSP Crop Science Limited has established itself as a significant player in the agrochemical sector, specializing in the development and manufacture of insecticides, herbicides, fungicides, and plant growth regulators. The company operates a vertically integrated business model, producing both Technicals (concentrated active ingredients) and Formulations (end-use products) to enhance agricultural productivity.
GSP’s competitive edge is rooted in its robust R&D capabilities, supported by dedicated facilities in Kathwada and Odhav. As of March 2026, the company’s innovation pipeline is evidenced by 102 granted patents and over 500 product registrations. With a strong domestic presence spanning 20 Indian states, GSP has also successfully scaled its international footprint across 37 countries, including key markets in North America, Latin America, and the Asia-Pacific region. By balancing proprietary branding with licensed manufacturing, GSP continues to capture value across the global agricultural supply chain.
For the year/period ended (Rs. in Cr.)
| FY25 | FY24 | FY23 | |
|---|---|---|---|
| Total Revenue | 1301.06 | 1158.23 | 1206.05 |
| Profit After Tax | 81.42 | 55.54 | 17.57 |
| EPS | 21.20 | 13.49 | 4.20 |
| EBITDA Margin (%) | 12.74 | 11.32 | 6.75 |
| PAT Margin (%) | 6.26 | 4.80 | 1.46 |
For year/ period ended ( in Cr.)
| Company Name | Market Cap (Cr.) | Price | P/BV | P/E | Sales (Cr.) FY25 |
Net Profits(Cr.) FY25 |
|---|---|---|---|---|---|---|
| GSP Crop Science Ltd | 1488.6* | 320 | 2.77 | 9.18 | 1301.06 | 81.42 |
| PI Industries Limited | 44620 | 2941 | 4.11 | 32.7 | 7978 | 1660 |
| Sumitomo Chemical India Limited | 19444 | 390 | 6.08 | 35.8 | 3090 | 502 |
| Dhanuka Agritech Ltd | 4379 | 971 | 2.84 | 16.5 | 2035 | 297 |
| Bharat Rasayan Limited | 2219 | 1335 | 1.87 | 15.7 | 1171 | 125 |
*Market cap @upper band
The Company GSP CROP SCIENCE LIMITED IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
At the upper band of IPO Rs. 320, the stock is valued at 9.18 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.
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