Indian crop-protection and industrial giants like Insecticides India, Siemens, Zydus Lifesciences, and MRF report mixed first-quarter results, highlighting the ongoing impact of rising costs, currency fluctuations, and weather-related challenges on profitability while revenue growth remains steady.
Indian crop-protection and industrial groups delivered a mixed set of first-quarter results on Tuesday, with Insecticides India, Siemens, Zydus Lifesciences and tyre maker MRF all reporting lower profit as costs, currencies, weather and commodity prices weighed on earnings. The updates add to a patchy corporate earnings season in which revenue trends have diverged sharply from the bottom line.
Insecticides India said consolidated net profit fell 24.5% to Rs 43.87 crore for the April-June quarter from Rs 58.10 crore a year earlier, as rainfall shortfalls hit sales. According to the company’s regulatory filing, total income declined 11.22% to Rs 616.86 crore, while expenses eased to Rs 558.31 crore from Rs 617.58 crore. The latest figures follow a weaker March quarter, when Business Standard reported that net profit had already slipped 15.69% as higher costs compressed margins.
Siemens also reported a weaker quarter. The company said net profit fell more than 18% to Rs 343 crore, compared with Rs 422 crore a year earlier, as volatile commodity prices, foreign exchange movements and higher material costs squeezed earnings. Revenue from operations rose to Rs 4,714 crore from Rs 4,108 crore, suggesting demand held up even as profitability came under pressure. Siemens AG’s global quarterly update meanwhile showed stronger underlying performance at group level, with orders and revenue rising and the industrial margin improving, underlining that the Indian arm’s results reflected local cost and market conditions.
Zydus Lifesciences said consolidated net profit dropped 36% to Rs 939.8 crore for the quarter ended June 30, 2026, from Rs 1,466.8 crore a year earlier, as expenses climbed. MRF, one of India’s largest tyre makers, reported a more modest 1.3% fall in consolidated net profit to Rs 495.35 crore from Rs 501.82 crore, with high raw material costs cited as the main drag. Together, the results show how pressure from input prices and operating costs continues to shape corporate performance even where demand remains broadly intact.
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