May 2026
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Largest Agriculture Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
UPL, PI Indus, Gujarat State Fertilizers, Dhanlaxmi Seeds and Suumaya Industries.
 | UPL Ltd is principally engaged in the business of manufacturing and sale of crop protection products. The firm's crop protection portfolio includes fungicides, herbicides, insecticides, plant growth regulators, rodenticides, and specialty crop chemicals. The firm's seed products consist of nutri-feeds, seeds, and seed treatment products. UPL competes on price with the manufacture and sale of generic products. The company generates its revenue globally, with sales in various countries, and derives a majority share of its revenue from its business outside India. The firm sells its products through a distribution network in each region. | $7 | -- | $6B | $7B | 1.3x | 7.1x | ||
| PI Industries Ltd manufactures, distributes, and sells agrochemicals, specialty fertilizers, and seeds to the agriculture industry. The firm's agrochemicals portfolio includes insecticides, fungicides, and plant health products. The company competes on price with the manufacture and sale of generic products. PI Industries reports sales across two geographical segments: within India and outside India. The outside India division represents its business division predominantly in Japan, Germany, and China. In India, the firm sells its products through a large network of distributors and retail outlets. The company has one reportable business segment which is Agro Chemicals. | $29 | -35% | $4B | $4B | 5.7x | 18.1x | ||
| Gujarat State Fertilizers & Chemicals Ltd is a manufacturer of fertilizers and chemicals. It is structured into two operating business segments: Fertilizer Products and Industrial Products. The company operates mainly in the Indian market and there are no reportable geographical segments. It derives the majority of its revenue from the Fertilizer products segment. The products and services covered under its Fertilizer segment include Urea, Ammonium Sulphate, Di-ammonium Phosphate, Ammonium Phosphate Sulphate, and traded fertilizer products. The Industrial Products consist of Caprolactam, Nylon-6, Nylon Filament Yarn, Nylon Chips, Melamine, Methanol, and Polymer products. | $2 | -22% | $683M | $539M | 0.5x | 4.8x | ||
| Dhanlaxmi Crop Science Ltd is a technology driven seeds company that develops, produces, processes and sells seeds for a range of field crops and vegetables. Its seeds are suitable for varying agroclimatic conditions, such as water availability, crop duration and soil attributes, across different geographic regions in India. Its product portfolio includes field crop and vegetable seeds for Cotton, Wheat, Cumin, Bajra, Maize, Gram, Okra, Green Gram, SSG, Soyabean, Milky, Mustard, Groundnut, Black Gram, Guar, Castor, Sesame, Jowar, Coriander, Red Gram, Green Pea, Multifeed, Onion, etc. The company operates in a single segment, that is Agriculture seeds. | $0 | -39% | $5M | $4M | 0.3x | 3.4x | ||
| Suumaya Industries Ltd is an India based company. The company's operating segment includes Supply chain of Agri Produce, Retail, Polymer, and Textile. It generates maximum revenue from Agri produce segment. Agri produce segment business deals with a supply chain of various agri commodities such as wheat, rice, and dal. | -- | -- | $1M | ($45M) | (0.3x) | 0.4x | ||
| Median | $4 | -35% | $683M | $539M | 0.5x | 4.8x |
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