India Pesticides Ltd has received Technical Equivalence (TEQ) approval in the European Union for one of its fungicide products, as reported by CNBC TV18 and Reuters. The approval, dated May 29, 2026, allows the company to expand its presence in the international market and strengthen its export business. The approved product belongs to the pesticides category and will cater to the international market, with the product launched in the European Union. This approval comes at a time when the global chlorothalonil market is experiencing significant growth, with the market valued at USD 1.15 billion in 2025 and projected to reach USD 1.59 billion by 2033, growing at a CAGR of 4.2% during the forecast period.
According to CNBC TV18 and Reuters, the approval is expected to contribute to India Pesticides' export revenues and support foreign exchange earnings for the country. The company manufactures pesticides and agrochemical products, with manufacturing units located in Lucknow and Hardoi, Uttar Pradesh. The approval is part of the company's global expansion strategy and is expected to strengthen its export business by improving access to the European market. The global chlorothalonil market is driven primarily by rising demand for disease control in high-value crops, with North America remaining the dominant region due to its advanced agribusiness infrastructure and strong research ecosystem.
As reported by CNBC TV18, Rajesh Aggarwal, MD of Insecticides India, noted that delayed monsoons, heat waves and El Niño concerns are creating uncertainty for farmers ahead of the Kharif sowing season. However, he believes well-distributed rainfall of 90-92% would still be sufficient for a healthy agricultural season and expects sentiment to improve once monsoon activity picks up across the country. Aggarwal stated that Insecticides India is targeting double-digit growth in 2026-27 (FY27) with improved margins driven by premium products and new launches. The global chlorothalonil market benefits from extensive cultivation of fruits, vineyards, and ornamental plants across temperate zones, creating persistent demand for effective disease control solutions.
According to CNBC TV18, for the January-March quarter of 2026 (Q4FY26), Insecticides India reported a 19% year-on-year rise in revenue to ₹426 crore from ₹359 crore. However, the company faced margin pressures with gross profit margin declining to 30.28% from 36.60%, while earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 12% to ₹25 crore. EBITDA margin narrowed to 5.87% from 7.94%, and net profit declined 14% to ₹12 crore.
As reported by CNBC TV18 and TradingView News, shares of India Pesticides Ltd ended at ₹156.25, up by ₹0.75, or 0.48%, on the BSE following the announcement. The positive market response reflects investor confidence in the company's European market expansion strategy and potential for increased export revenues. The global chlorothalonil market is segmented by type into Technical Grade Chlorothalonil and Formulated Chlorothalonil, with the Formulated segment leading as manufacturers combine the active ingredient with surfactants to create ready-to-use products for large-scale growers.
