India Pesticides, Alkyl Amines shares drop up to 4% amid govt's anti-dumping measures

The government imposes an anti-dumping duty on on various products

Shares of India Pesticides, Insecticides India, and Alkyl Amines fell by as much as 4 percent on March 25 after the government imposed an anti-dumping duty on on various products.

The Directorate General of Trade Remedies (DGTR) has proposed the imposition of an anti-dumping duty on imports of Pretilachlor from China. Pretilachlor is a widely used herbicide for weed control in rice and paddy fields. This decision is expected to impact stocks like India Pesticides and Insecticides India, as both companies have significant production capacities for Pretilachlor in India.

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Additionally, the DGTR has recommended an anti-dumping duty on imports of acetonitrile, a chemical that is primarily sourced from China, Russia, and Taiwan. Acetonitrile is a crucial product for companies like Alkyl Amines, making this move particularly relevant to its business.

India Pesticides reported a notable increase in its revenue from operations, rising by approximately 13 percent year-on-year from Rs 155 crore in Q3 FY24 to Rs 175 crore in Q3 FY25.

However, the company's net profit declined during the same period, dropping from Rs 24 crore to Rs 16 crore, marking a year-on-year decrease of around 33 percent.

Meanwhile, Alkyl Amines posted a strong performance in Q3 FY25, with net profit surging by 31.1 percent year-on-year to Rs 43.8 crore from Rs 33.4 crore in the same quarter last year. The company’s revenue for the third quarter also saw a 15.3 percent year-on-year rise, reaching Rs 371.2 crore compared to Rs 322 crore a year ago.

Since the beginning of the year, shares of India Pesticides, Insecticides India, and Alkyl Amines have declined by as much as 20 percent, while the Nifty index has remained largely unchanged.

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