October 2026
Largest Agriculture Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Coromandel International, Fertilisers and Chemicals Travancore, UPL, PI Industries and Hatsun Agro Product.
 | Fertilizer and crop protection company, part of the Murugappa group. It makes phosphatic and complex fertilizers, specialty nutrients and agrochemicals, and runs rural retail outlets serving farmers. Headquartered in Secunderabad (Hyderabad). | $19 | -22% | $5.5B | $6B | 2.8x | 17.5x | ||
| State-owned fertilizer and chemicals maker in Kerala. It produces complex fertilizers such as Factamfos, ammonium sulphate and caprolactam, selling mainly to farmers through dealers. Headquartered in Udyogamandal, Kochi. | $7 | -28% | $4.7B | $5.1B | 15.4x | 590.6x | ||
| 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. | $5 | -33% | $4.6B | $7.1B | 1.3x | 7.7x | ||
| 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. | $22 | -46% | $3.3B | $3B | 4.2x | 14.8x | ||
| Hatsun Agro Product processes milk and sells dairy products such as milk, curd, ice cream and ghee under brands including Arun, Arun Icecreams and Ibaco. It buys milk from farmers in southern India and sells through retail distribution and its own parlours. It is one of India's largest private dairy companies. Headquartered in Chennai. | $11 | -9% | $2.5B | $2.7B | 2.6x | 21.7x | ||
| Sumitomo Chemical India makes and sells crop protection chemicals, household insecticides, and nutrition products for farmers and public health. It is a subsidiary of Sumitomo Chemical, Japan. Headquartered in Mumbai. | $4 | -31% | $2B | $1.8B | 5.4x | 24.3x | ||
| Bayer CropScience India sells crop protection chemicals, seeds and traits, and environmental science products to farmers through distributors. It is the Indian arm of Bayer. Headquartered in Mumbai. | $36 | -34% | $1.6B | $1.5B | 2.6x | 15.2x | ||
| DCM Shriram is a diversified Indian group with businesses in chlor-alkali and vinyl, sugar and ethanol, fertilisers, agri-inputs and seeds, and fenesta building products (windows and doors). It sells to industrial, farm and retail customers. Headquartered in Delhi. | $10 | -28% | $1.6B | $1.8B | 1.3x | 10.8x | ||
| Tata Chemicals makes soda ash, sodium bicarbonate, salt and nutrition and agri products, with plants in India, the UK, the US and Kenya. It sells to glass, detergent and food makers, and to consumers under the Tata Salt brand. Headquartered in Mumbai. | $6 | -37% | $1.6B | $2.4B | 1.6x | 132.8x | ||
| Chambal Fertilisers makes urea and distributes DAP, complex fertilisers and crop protection products, plus agri-inputs and farm services. It sells to farmers through dealers, mainly in northern India. Operates urea plants in Rajasthan and is headquartered in Gurugram. | $4 | -27% | $1.6B | $1.6B | 0.7x | 5.2x | ||
| Deepak Fertilisers and Petrochemicals makes industrial chemicals such as ammonium nitrate for mining, technical ammonium nitrate and nitric acid, plus fertilisers. Customers are miners, industry and farmers. Headquartered in Pune. | $12 | -26% | $1.6B | $2.2B | 2.2x | 11.8x | ||
| Paradeep Phosphates makes phosphatic fertilisers such as DAP and NPK, and sells them through dealers to farmers. Plant at Paradeep, Odisha. Controlled by the Zuari-OCP group. Headquartered in Bhubaneswar. | $1 | -22% | $1.5B | $2.2B | 2.0x | 10.2x | ||
| Balrampur Chini Mills is one of India's largest integrated sugar producers. It makes sugar, ethanol, distillery products and cogenerated power, and is building a polylactic acid bioplastics plant. Mills are in Uttar Pradesh. Headquartered in Kolkata. | $7 | +34% | $1.5B | $1.8B | 2.7x | 21.0x | ||
| BASF India is the Indian subsidiary of BASF SE. It sells agricultural solutions, performance chemicals, dispersions, coatings and surface treatment products. Customers are farmers through distributors and industrial manufacturers. Headquartered in Mumbai. | $34 | -32% | $1.5B | $1.4B | 0.9x | 18.9x | ||
| Godrej Agrovet makes animal feed and crop protection products and runs oil palm plantations, dairy and poultry businesses. It sells to farmers, dairy and poultry operators and to consumers through Creamline Dairy and Real Good Chicken. It is part of the Godrej group. Headquartered in Mumbai. | $7 | -10% | $1.3B | $1.4B | 1.3x | 14.1x | ||
| EID Parry makes sugar, ethanol and co-generated power, and sells nutraceutical ingredients. It also owns a stake in Coromandel International. Customers are food and beverage firms, oil marketers and consumers. Part of the Murugappa Group. Headquartered in Chennai. | $7 | -43% | $1.2B | $2.4B | ||||
| Avanti Feeds makes shrimp feed and processes and exports shrimp. It sells feed to aquaculture farmers in India and frozen shrimp to buyers abroad. Headquartered in Visakhapatnam. | $7 | -9% | $979M | $850M | ||||
| Processes and sells basmati rice, including India Gate, one of the largest basmati brands, in India and abroad. It runs rice mills, storage and marketing operations and also sells other rice brands and packaged foods. Based in Noida. | $4 | -11% | $858M | $774M | ||||
| Bombay Burmah Trading Corporation is a Wadia group company with tea and coffee plantations, auto electronic parts and healthcare ingredients businesses, and a large stake in Britannia. Customers are bulk tea buyers, automakers and others. Headquartered in Mumbai. | $12 | -45% | $853M | $1B | ||||
| GNFC produces fertilisers such as ammonium nitrate, urea and neem-coated products, plus industrial chemicals including acetic acid, aniline and nitric acid. It also has an IT services arm and sells fertilisers to farmers through dealers. It is controlled by the Gujarat government and based in Bharuch, Gujarat. | $5 | -5% | $795M | $637M | ||||
| Agro-processing company making maize starch and derivatives, edible oils, soya products and cotton yarn. Operates wind and solar assets for captive power. Based in Ahmedabad. | $2 | +41% | $769M | $725M | ||||
| Madhya Bharat Agro Products makes fertilizers, mainly single super phosphate and NPK, and is sold under the Mbapl brand. It serves farmers through dealers in central India. Based in Itarsi, Madhya Pradesh. | $2 | +84% | $741M | $831M | ||||
| Makes single super phosphate and granulated fertilisers, and bio-fertilisers sold to farmers and distributors. Plants are in Madhya Pradesh and Rajasthan. Based in Mumbai. | $2 | +85% | $650M | $725M | ||||
| Sharda Cropchem registers and sells agrochemicals, including herbicides, insecticides and fungicides, in Europe, Latin America, NAFTA and other regions. It also has a non-agro chemical unit. It is headquartered in Mumbai. | $7 | -28% | $629M | $568M | ||||
| Gokul Agro Resources refines edible oils such as soybean, palm and sunflower oil and sells them under consumer brands including Gokul and Zaika. It also trades agri commodities and exports castor oil and other products. Customers are retail consumers, distributors and food companies. It is headquartered in Ahmedabad with a refinery at Kandla. | $2 | +10% | $628M | $663M | ||||
| 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. | $1 | -32% | $579M | $439M | ||||
| Piccadily Agro Industries produces sugar, ethanol and malt spirits, including the Indri single malt whisky. It sells to distributors, fuel buyers and consumers. It is based in Chandigarh with operations in Haryana. | $6 | -24% | $574M | $614M | ||||
| Rashtriya Chemicals & Fertilizers is a government-owned maker of urea, complex fertilizers and industrial chemicals. It sells fertilizers under the Ujjwala and Suphala brands to farmers via dealers, and industrial products such as ammonia and methylamines. Headquartered in Mumbai. | $1 | -39% | $569M | $993M | ||||
| Diversified engineering and sugar group. It makes sugar, ethanol and spirits, and also builds industrial gearboxes and high speed turbines and offers water treatment solutions. Based in Noida. | $2 | -38% | $547M | $767M | ||||
| Bajaj Hindusthan Sugar makes sugar, ethanol and power from sugarcane at mills in Uttar Pradesh. Customers are wholesale sugar buyers, distilleries and utilities. Headquartered in Mumbai. | $0 | -20% | $480M | $845M | ||||
| Shree Renuka Sugars processes sugarcane into sugar, ethanol and co-generated power, and runs sugar refineries in India and Brazil. Customers are food companies, retailers and oil marketing companies. It is controlled by Wilmar. Headquartered in Belgaum, Karnataka. | $0 | -38% | $443M | $1.2B | ||||
| Swaraj Engines makes diesel engines and spare parts for tractors, and supplies almost all of them to Mahindra's Swaraj tractor business. It runs plants in Punjab and is headquartered in Mohali. Mahindra & Mahindra is its largest shareholder. | $36 | -20% | $437M | $426M | ||||
| Bannari Amman Sugars makes sugar, ethanol and power from cane, and also has granite and wind energy operations. It sells to wholesalers, industry and the power grid in southern India. It is headquartered in Erode. | $34 | -16% | $425M | $397M | ||||
| Rallis India makes crop protection products and seeds, sold to Indian farmers and exported. It is a subsidiary of Tata Chemicals. Headquartered in Mumbai. | $2 | -26% | $419M | $406M | ||||
| Dhanuka Agritech makes and markets crop protection products such as herbicides, insecticides and fungicides, sold to farmers through a dealer network. It runs formulation plants in Gujarat and Rajasthan. Headquartered in Gurugram. | $9 | -42% | $403M | $372M | ||||
| Kaveri Seed breeds and sells hybrid seeds such as cotton, corn, rice and vegetables to Indian farmers. It sells through a distributor network and exports. Headquartered in Secunderabad. | $8 | -- | $396M | $349M | ||||
| Trualt Bioenergy produces ethanol from sugarcane-based feedstocks and grains, with by-products including sugar and power. Its distillery complex serves oil marketing companies under India's ethanol blending programme. The company is based in Belagavi, Karnataka. | $4 | -13% | $378M | $548M | ||||
| Dalmia Bharat Sugar and Industries produces sugar, ethanol and cogenerated power from sugarcane at mills in Uttar Pradesh and Maharashtra. It sells sugar to wholesale and institutional buyers and ethanol to oil marketing companies. It is headquartered in New Delhi. | $5 | +19% | $375M | $519M | ||||
| VST Tillers Tractors makes power tillers, small tractors and precision-engineered components for agriculture. It sells through dealers across India and abroad. It is headquartered in Bengaluru. | $42 | -37% | $366M | $296M | ||||
| State-owned fertiliser maker producing urea and other fertilisers, and bio-fertilisers and some industrial products. It sells to farmers via dealers. Based in Noida. | $1 | -41% | $306M | $719M | ||||
| NACL Industries makes agrochemicals such as pesticides, with contract manufacturing and exports. Headquartered in Hyderabad. | $1 | -40% | $298M | $330M | ||||
| Jubilant Agri and Consumer Products makes agri and consumer products, including crop nutrients, and sells them through retail channels in India. It is part of the Jubilant Bhartia group and is headquartered in Noida. | $19 | -32% | $288M | $292M | ||||
| Bhagiradha Chemicals and Industries makes agrochemical active ingredients and intermediates, including insecticides and herbicides. It sells to formulators in India and abroad. It is headquartered in Hyderabad. | $2 | -23% | $278M | $302M | ||||
| Cian Agro Industries processes agricultural commodities such as edible oils and related products, with additional infrastructure and trading interests. It sells to wholesalers and food companies in India. Public detail is limited. | $9 | -59% | $257M | $389M | ||||
| Amir Chand Jagdish Kumar Exports processes and sells basmati and other rice under the Aeroplane brand. It sells in India and exports to the Middle East, Europe and the US. It is based in Amritsar. | $2 | -- | $223M | $302M | ||||
| Jain Irrigation Systems makes micro-irrigation systems, PVC and polyethylene pipes, plastic sheets, and processed fruit and onion products. It sells to farmers, builders and food companies in India and globally. It is one of the largest drip irrigation companies in the world. It is based in Jalgaon. | $0 | -55% | $189M | $646M | ||||
| Avadh Sugar & Energy makes sugar, ethanol and power from sugarcane in Uttar Pradesh, and runs a distillery and cogeneration plants. Part of the Birla group. Headquartered in Kolkata. | $9 | -- | $182M | $331M | ||||
| 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 | $6M | ||||
| Median | $6 | -28% | $629M | $746M | 1.4x | 14.0x |
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