Lecanicillium saksenae, an indigenous isolate from Kerala, India is a potent entomopathogen against hemipteran pests. The wine-red pigmentation produced by this isolate distinguishes it from many other isolates of L. saksenae reported across the globe. This study, therefore, sought to isolate and characterize the pigment molecule. The wine-red pigment extracted through liquid - liquid partition of the fungal culture was subjected to structural characterization and identification through UV spectrometry, Fourier Transform Infrared Spectrometry (FTIR), High Resolution Liquid Chromatography, Mass Spectrometry (HR-LCMS) and Nuclear Magnetic Resonance Spectrometry (NMR). It was unambiguously identified as a dibenzoquinone compound, oosporein, a known bioactive insecticidal metabolite. The empirical formula of which was confirmed as C₁₄H₁₀O₈ and molecular weight, m/z 306.22. The dose dependent bioefficacy of oosporein with 1000 ppm at 96 h recorded a mortality of 60.25 per cent in nymphs of brinjal mealybug, Coccidohystrix insolita, while it was still lower (51.00%) in adults. In this study, we could identify that L. saksenae reported from Kerala, India was geographically distinct. Sequence analysis based on 18srDNA and phylogenetic analysis confirmed the species identity of this indigenous isolate with that of L. saksenae documented in NCBI. This finding paves the way for the possibilities of tapping the potential of bioactive metabolites for pest management and uplifting the species as a potent bioagent in insect pest management programmes.