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Pesticides & Agrochemicals
GSP Crop Science Limited IPO
₹400 Cr · Fresh Issue & OFS · Pesticides & Agrochemicals
Price Band
₹304 – ₹320
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹400 Cr
Fresh Issue & OFS
Market Cap
₹1488.60 Cr
At upper band
P/E Ratio
18.1x
P/S: 1.2x
Listing Date
24 Mar 2026
BSE & NSE
IPO Timeline
✓
Opens
16 Mar 2026
✓
Closes
18 Mar 2026
✓
Allotment
19 Mar 2026
✓
Refund
20 Mar 2026
✓
Listing
24 Mar 2026
IPO India Hub Recommendation: Subscribe
We recommend subscribing to the issue as the company shows solid earnings and reasonable valuation. However, investors should watch for seasonal demand swings that could affect revenue.
Our Analysis — Key Points
✓ Strength
Strong revenue base drives consistent growth
The company generated about ₹1,287 crore in revenue in the last financial year. This size places it among the larger players in the agro‑chemical sector. Consistent sales give it a solid platform for future expansion.
✓ Strength
Broad product portfolio supports margins well
It offers a wide range of pesticides and agro‑chemicals that cater to multiple crops. Such diversification helps smooth earnings when a single crop season underperforms. The mix also allows the firm to capture different market segments.
⚠ Risk
Dependence on seasonal commodity demand fluctuations
A large part of its revenue comes from seasonal farming cycles, which can be affected by weather anomalies. A poor monsoon or drought can reduce the need for chemicals, pressuring sales. Additionally, changes in government regulations on pesticide use could limit product availability.
$ Valuation
Valuation appears reasonable at current multiples
The company trades at a price‑to‑earnings multiple of about 18.1 times, which is close to the average for the sector. Its price‑to‑sales ratio stands at roughly 1.2, indicating a modest premium over revenue. These figures suggest the stock is priced fairly given its earnings and sales base.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "GSP Crop Science Limited" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹1287.39 Cr
Net Profit
₹82.14 Cr
Industry
Pesticides & Agrochemicals
Issue Type
Fresh Issue & OFS
Promoters
BHAVESH VRAJMOHAN SHAH, TIRTH KENAL SHAH, VILASBEN VRAJMOHAN SHAH, FALGUNI KENAL SHAH, ALPHA TRUST AND KAPPA TRUST
Lead Managers
Equirus Capital and Motilal Oswal Investment Advisors
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