Application of antiozonants significantly alleviates the phytotoxicity due to ozone stress; yet a cost effective antiozonant is still unexplored. This study aims to evaluate cost effective antiozonants to alleviate the ozone stress in rice cultivars at field condition. An experiment was conducted at a tropospheric ozone hotspot region (Gummidipundi, Tamil Nadu) utilizing two rice cultivars with differing sensitivity to ozone; sensitive (TRY(R)2) and tolerant (Anna(R)4) alongside three different antiozonants (Ethylene diurea (EDU), neem coated urea (NCU) and ascorbic acid (AsA)). Results indicated monthly variations in ozone (O3) and nitrogen oxides (NOx) concentrations. The O3 stress was more pronounced during the flowering stage particularly in the ozone sensitive cultivar. Besides EDU, foliar application of 1% AsA significantly increased stomatal conductance (29.54%) and chlorophyll content (41.29%) in the sensitive cultivar, while 1% NCU enhanced yield attributes including number of effective tillers (10), panicle length (15.25 cm), number of spikelets per panicle (81), number of filled spikelets per panicle (73), grain yield (5041 kg ha−1) and harvest index (0.61). The application of protectants also improved the grain quality in rice cultivars. Furthermore, 1% NCU demonstrated the highest benefit–cost ratios (1.03 for tolerant and 1.46 for sensitive cultivars) and exhibited high energy productivity (0.01 kg MJ−1) and net energy gain (35465 MJ ha−1). These findings verify that 1% NCU is a cost-effective and energy-efficient foliar treatment in regions with high tropospheric ozone levels. Attention on the dose–response relationship for protection and exploring additional abiotic stressors to gain in-depth understanding of the plant response would be more focused in future research.