Crystal Crop Protection IPO
Mainboard • Equity • Fresh capital and offer for sale
Crystal Crop Protection
About the company
Crystal Crop Protection Limited was set up in 1994 as Jai Bharat Crop Chemical Private Limited. It became a public limited company in 2018. The company describes itself as a crop solutions company with agrochemicals and seeds at the core of its offerings. Its registered office is in Ahmedabad and its corporate office is in New Delhi. The crop protection range covers herbicides, fungicides and insecticides. It also covers natural crop solutions such as bio-stimulants, bio-protectants, plant growth regulators, liquid fertilizers and micro nutrients. This business gave Rs 1,515.61 crore, or 77.82% of revenue from operations, in the six months ended 30 September 2025. In FY2025 it gave 81.74%. The seeds business covers field crops, vegetable crops and flowers. It gave 21.59% of revenue in the six months ended 30 September 2025, against 12.66% in FY2023. The company bought I&B Seeds in October 2024, so FY2025 includes only five months of that business. The company runs six manufacturing units for crop protection. Four are formulation units: two in Jammu, one in Sonipat and one in Anand. Two are technical manufacturing units, in Nagpur and Dahej. It also has a technical pilot unit in Sonipat and has bought land for a new plant in Jhagadia, Gujarat. Seeds are processed at two units, in Hyderabad and Bengaluru. Research is done at the Key Research Development Centre in Sonipat, with field research stations across several states. The business is mainly domestic. India gave 97.48% of revenue from operations in FY2025 and international sales gave 1.72%. Raw materials are bought from domestic suppliers and from suppliers in China, mostly on purchase orders.
Crystal Crop Protection sells crop protection products, natural crop solutions and seeds to Indian farmers, and runs six manufacturing units and three seed processing units. Revenue from operations was Rs 2,690.51 crore in FY2025, and Rs 355.00 crore of the IPO is fresh issue money.
IPO details
- Issue price
- ₹272
- Price band
- ₹259 – ₹272
- Face value
- ₹10
- Lot size
- 55
- Min investment
- ₹14,960
- Issue size
- ₹455.49 Cr
- Sale type
- Fresh capital and offer for sale
- Listing on
- BSE, NSE
- Employee discount
- Rs 25.00 per share
Lot size & investment by category
| APPLICATION | LOTS | SHARES | AMOUNT |
|---|---|---|---|
| Retail (Min) | 1 | 55 | ₹14,960 |
| Retail (Max) | 13 | 715 | ₹1,94,480 |
| S-HNI (Min) | 14 | 770 | ₹2,09,440 |
| B-HNI (Min) | 67 | 3,685 | ₹10,02,320 |
Investor reservation
| CATEGORY | RESERVED |
|---|---|
| QIB | Not more than 50% of the Net Offer |
| Retail | Not less than 35% of the Net Issue |
| NII | Not less than 15% of the Net Issue |
Objects of the issue
Financials
Rs. Crore • restated| METRIC | 30 Sep 2025 (6 months) | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Revenue from Operations | 1978.05 | 2690.51 | 2229.93 | 2513.30 |
| Total Income | 1995.86 | 2731.94 | 2271.71 | 2532.89 |
| Profit After Tax | 153.51 | 118.39 | 87.24 | 76.60 |
| Net Worth | 1748.90 | 1600.10 | 1488.39 | 1408.10 |
| Total Borrowing | 1205.24 | 947.02 | 577.29 | 612.70 |
| Total Assets | 3859.23 | 3542.90 | 2541.92 | 2472.07 |
Key performance indicators
✓ Strengths
⚠ Risks
Promoters & holding
Nand Kishore Aggarwal, Ankur Aggarwal, Komal Aggarwal and Ankur Aggarwal KNK Family Trust
Promoters and the promoter group hold 84.92% before the issue (12,74,63,651 of 15,01,16,700 shares) and will hold 75.85% after it.
Data refreshed 15 Nov 2026, 06:30 am IST. GMP is unofficial market sentiment, not investment advice.