PI Industries Ltd.

NSE: PIIND · Pesticides & Agrochemicals

52W Range₹2,420 ₹3,833

Snapshot

Unlock PI Industries Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

PI Industries Limited is a prominent player in the agrochemicals sector, specialising in the manufacture and distribution of insecticides, fungicides, and herbicides. The company also provides extensive research and development services, including custom synthesis and manufacturing solutions for global clients.

Business Model

The company generates revenue through the sale of branded agrochemical products via a wide network of distributors and retailers, alongside providing contract research and manufacturing services (CSM). Its business model integrates chemical manufacturing with high-end R&D capabilities to serve both domestic and international markets.

Growth Outlook

Growth is driven by the expansion of its custom synthesis and manufacturing solutions portfolio and the continued development of new chemical molecules. The company leverages its strong R&D infrastructure to maintain a competitive edge in the global agrochemical supply chain.

Key Risks

  • Regulatory Risk. The agrochemical industry is subject to stringent environmental and safety regulations that may impact production processes and product approvals.
  • Geopolitical and Export Risk. As a significant exporter, the company is exposed to fluctuations in international trade policies and geopolitical instability in key markets like North America and Europe.
  • Commodity Price Volatility. Fluctuations in the prices of raw materials and chemical intermediates can significantly impact the company's operating margins.
  • Monsoon Dependency. The domestic demand for agrochemicals is heavily dependent on the performance of the Indian monsoon and the resulting agricultural output.

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Key Metrics

REVENUE

₹6,714 Cr

TTM · consolidated

-15.8%YoY

NET PROFIT

₹1,321 Cr

TTM · consolidated

-20.4%YoY

EPS

₹87.07

TTM · consolidated

-20.4%YoY

RETURN ON EQUITY

12.7%

TTM · consolidated

-5.6 ppYoY

RETURN ON CAPITAL EMPLOYED

15.8%

TTM · consolidated

-7.2 ppYoY

P/E

30.2x

Q4 FY26 · consolidated

30.2 vs 32.3x5Y avg

EBITDA MARGIN

29.9%

TTM · consolidated

-1.7 ppYoY

NET PROFIT MARGIN

12.8%

Q4 FY26 · consolidated

-5.7 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

+0.01xYoY

Peers · Pesticides & Agrochemicals

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
PI Industries Ltd.PIIND
₹36,717 Cr31.51-16.6%28.2%10.9%13.7%-34.5%
UPL Ltd.UPL
₹48,202 Cr25.9211.2%19.2%6.9%11.3%-20.2%
Sumitomo Chemical India Ltd.SUMICHEM
₹25,848 Cr44.60-3.6%25.9%18.4%24.1%-8.5%
Bayer Cropscience Ltd.BAYERCROP
₹18,196 Cr26.403.7%17.1%23.9%28.7%-22.6%
Sharda Cropchem LimitedSHARDACROP
₹7,071 Cr11.2918.5%21.6%22.2%26.3%-17.4%
Dhanuka Agritech LimitedDHANUKA
₹4,400 Cr16.41-5.6%21.5%17.4%22.4%-39.0%

As of Q1 FY27

Financials