Top 10 Agriculture Stocks In India in 2024

Agriculture is rightly called the backbone of India. Besides offering food security and feeding 140+ crore people, it’s also one of the most vital sectors of the Indian economy, providing employment, export earnings, and contributing 18.1 percent of GDP.  

The Agriculture sector is projected to grow and reach US$24 billion in a few years, providing great opportunities for investors. But how do you choose the best agriculture stocks to invest in? 

There are many factors to consider, such as the company’s product line, financial health, and brand growth history. So here’s a list of 10 agriculture stocks in India based on their market capitalization and performance, and future prospects.

S.No.	Name	Close Price Rs.	Mar Cap Rs.Cr.	1Yr return %	5Yrs return %
1	P I Industries	3800	57652.88	-1.55	26.37
2	UPL	573.5	43047.39	-14.58	-2.99
3	Bayer Crop Sci.	6499.2	29208.76	40.85	13.38
4	Sumitomo Chemi.	499.25	24919.86	10.01
5	Dhanuka Agritech	1681.95	7666.03	107.92	31.6
6	Rallis India	336.6	6545.86	58.93	16.61
7	Bharat Rasayan	11709.5	4865.61	21.65	21.61
8	Sharda Cropchem	488.7	4409.07	-10.89	9.29
9	Bhagiradha Chem.	259.6	3230.36	79.12	44.62
10	Astec Lifescienc	1400.55	2746.53	3.62	26.33

1. PI Industries Ltd. (NSE: PIIND)

PI Industries Ltd. operates in two main segments, Agri-Sciences, this core segment offers a diverse range of crop protection products like insecticides, fungicides, herbicides, and rodenticides. Additionally, PI Industries caters to the growing demand for organic farming with a dedicated line of organic products. PI Industrues also has a vertical on Custom Synthesis & Manufacturing. This segment leverages PI Industries’ expertise to provide contract research and manufacturing services for global players in the agrochemical, pharmaceutical, and specialty chemical industries. 

Despite a slight dip in 2023 (-1.55%), PI Industries boasts a healthy 26.37% growth in stock price over the past five years, demonstrating consistent performance. This focus on both established and innovative solutions positions them well to cater to the evolving needs of the agricultural sector. Further research into their product pipeline and partnerships with global players can be insightful for potential investors.

2. UPL Ltd. (NSE: UPL)

UPL Ltd. is a global leader in crop protection solutions. Their extensive presence in over 138 countries, coupled with multiple manufacturing facilities and R&D centers, signifies their global reach and commitment to innovation. UPL offers a comprehensive range of products including seeds, pesticides, herbicides, fungicides, and bio-solutions.

While UPL experienced a stock price decline of 14.58% in the past year, their long-term position in the industry remains strong. Their extensive portfolio, robust distribution network, and established brand presence are strengths. However, the recent stock price drop might warrant further investigation into potential causes and future outlook to understand their long-term potential.

3. Bayer CropScience Ltd. (NSE: BAYERCROP)

Bayer CropScience, a global life sciences company, operates in three core areas, Crop Protection, Environmental science, which caters to professional pest management, vector control, and turf and ornamental care needs. Along with that Bayer CropScience provides hybrid seeds for cotton, rice, vegetables, and oilseeds, contributing to improved agricultural productivity.

Bayer CropScience has seen impressive growth, with a 40.85% increase in stock price in the past year and a steady 13.38% growth over five years. Their diversified business approach, strong brand recognition, and focus on innovation make them a promising player in the agriculture sector. Analyzing their product development efforts and commitment to sustainability practices can provide valuable insights for investors interested in a well-rounded agricultural company.

4. Sumitomo Chemical India Ltd. (NSE: SUMICHEM)

Sumitomo Chemical India Ltd. operates in two main segments: Crop care and Health and Environment. The company offers a range of products, such as insecticides, fungicides, herbicides, and biopesticides, catering to various crop protection needs. The company also focuses on household insecticides, animal nutrition, and environmental health solutions.

Sumitomo Chemical India Ltd. has shown a stable growth trajectory with a 10.01% increase in stock price over the past year. As a relatively young company in the Indian market (listed in 2015), Sumitomo Chemical India Ltd. might require further research into their long-term growth strategies and market penetration plans before making an investment decision. Understanding their approach to expanding their brand and product offerings within the Indian market can be crucial for potential investors.

5. Dhanuka Agritech Ltd. (NSE: DHANUKA)

Dhanuka Agritech Ltd. operates exclusively in the agrochemicals sector, offering a comprehensive range of crop protection products. They have experienced significant growth, with a remarkable 107.92% increase in stock price over the past year. However, looking at the bigger picture, their five-year growth sits at a respectable 31.66%. Dhanuka Agritech’s focus on a core segment and their recent surge in stock price are noteworthy, but a deeper analysis of their product portfolio, market reach, and future plans might be necessary before investing.

6. Rallis India Ltd. (NSE: RALLIS)

Rallis India Ltd. caters to multiple segments within the agriculture sector, offering crop protection products, specialty plant nutrition solutions, and seeds. Their stock price has seen a significant rise of 58.93% in the past year, and they have maintained a steady growth trajectory with a 16.61% increase over five years. Rallis India’s diversified product portfolio and consistent growth are positive indicators, but further research into their brand positioning and competitive edge within each segment can be beneficial.

7. Bharat Rasayan Ltd. (NSE: BHARATRAS)

Bharat Rasayan Ltd. focuses on the production of technical-grade pesticides, formulations, and intermediates. They have experienced consistent growth, with a 21.65% increase in stock price over the past year and a similar 21.61% growth over five years. While Bharat Rasayan seems to be on a stable growth path, a closer look at their target markets, product development strategy, and plans for expansion could be helpful for potential investors.

8. Sharda Cropchem Ltd. (NSE: SHARDACROP)

Sharda Cropchem Ltd. specializes in crop protection chemicals and seeds. Despite a 10.89% decline in stock price over the past year, they have shown a positive five-year growth trend of 9.29%. Sharda Cropchem’s recent stock price dip warrants further investigation into potential reasons and future prospects. However, their focus on core agricultural inputs and their established presence in the market remain positive aspects to consider.

9. Bhagiradha Chemicals Ltd. (NSE: BHAGIRATHI)

Bhagiradha Chemicals Ltd. manufactures and markets crop protection chemicals. It has seen impressive growth, with a 79.12% increase in stock price over the past year and a remarkable 44.62% growth over five years. Bhagiradha Chemicals’ significant growth is noteworthy, but before investing, a more comprehensive analysis of its product portfolio, market reach, and future expansion plans might be prudent.

10. Astec Lifesciences Ltd. (NSE: ASTEC)

Astec Lifesciences Ltd. operates in agrochemicals, focusing on crop protection solutions. Their stock price has seen a modest 3.62% growth over the past year, but they boast a solid 26.33% increase over five years. Astec Lifesciences’ focus on a core segment and their long-term growth trajectory are positive indicators. However, delving deeper into their specific product offerings, marketing strategies, and competitive landscape can provide valuable insights for investors.

Conclusion:

With a few key players involved in various segments, agriculture offers growth, innovation, and sustainability opportunities. However, market volatility, weather uncertainties, regulatory changes, and environmental issues are some of the risks and challenges involved one must be wary of. 

*Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.