• Domestic revenue growth: B2C crop care revenue surged 19% driven by new product introductions, herbicide portfolio expansion, and price hikes, while B2B and export revenues declined by 19%.
• Inventory allocation strategy: The company procured early inventory ahead of war-related disruptions and prioritized domestic market allocation over lower-margin export markets to mitigate high-seas shipping uncertainty.
• Monsoon and demand: Despite delayed Kharif planting caused by the driest June in 12 years, rising commodity prices are incentivizing farmers with standing crops to invest in crop protection products.
• Volume growth priority: Management is prioritizing volume growth and market competitiveness over rigid margin targets, asserting that margins will remain protected if commercial execution and crop conditions remain favorable.