loader2
Login Open ICICI 3-in-1 Account
  • Text Size
  • Text to Speech
  • Color Contrast
  • Pause Animations
Open ICICI 3-in-1 Account

P I Industries Results: Latest Quarterly Results & Analysis

Open Free Trading Account Online with ICICIDIRECT
+91
PI Industries Ltd. 20 May 2026 11:42 AM
Result PDF

Q4FY26 & FY26 Result Announced for PI Industries Ltd.

Agrochemicals company PI Industries announced Q4FY26 & FY26 results

Consolidated Financial Highlights:

  • Revenue from Operations:
    • For Q4FY26, the company reported revenue of Rs 15,652 million, an increase of 13.77% QoQ from Rs 13,757 million in Q3FY26, and a decline of 12.42% YoY compared to Rs 17,871 million in Q4FY25.
    • For the full year FY26, consolidated revenue stood at Rs 67,137 million, representing a decline of 15.84% YoY from Rs 79,778 million in FY25.
  • Total Income:
    • Total income for Q4FY26 was Rs 16,408 million, up 13.75% QoQ from Rs 14,424 million in Q3FY26 and down 11.81% YoY from Rs 18,605 million in Q4FY25.
    • For the full year FY26, total income reached Rs 70,244 million compared to Rs 83,220 million in FY25.
  • Net Profit After Tax (PAT):
    • The company recorded a PAT of Rs 2,002 million in Q4FY26, a decrease of 35.69% QoQ from Rs 3,113 million in Q3FY26 and a decrease of 39.43% YoY from Rs 3,305 million in Q4FY25.
    • For the full year FY26, PAT stood at Rs 13,208 million, marking a decline of 20.44% YoY compared to Rs 16,602 million in FY25.
  • Earnings Per Share (EPS):
    • Basic EPS for Q4FY26 was Rs 13.20, compared to Rs 20.52 in Q3FY26 and Rs 21.79 in Q4FY25.
    • Annual Basic EPS for FY26 was Rs 87.06 compared to Rs 109.44 in FY25.

Standalone Financial Highlights:

  • Revenue from Operations:
    • Revenue for Q4FY26 was Rs 13,914 million, up 9.59% QoQ from Rs 12,696 million in Q3FY26 and down 15.58% YoY from Rs 16,482 million in Q4FY25.
    • Annual standalone revenue for FY26 stood at Rs 61,827 million compared to Rs 75,712 million in FY25.
  • Net Profit After Tax (PAT):
    • PAT for Q4FY26 was Rs 1,978 million, down 29.76% QoQ from Rs 2,816 million in Q3FY26 and down 48.73% YoY from Rs 3,858 million in Q4FY25.
    • Annual standalone PAT for FY26 reached Rs 14,348 million against Rs 18,665 million in FY25.
  • Total Comprehensive Income:
    • Total comprehensive income for the year FY26 was Rs 12,935 million compared to Rs 18,456 million in FY25.

Business Highlights:

  • Segment Performance (Consolidated):
    • Agro chemicals: This segment contributed Rs 64,168 million to the total revenue for FY26, down from Rs 77,650 million in FY25. Segment results (Profit before tax) for FY26 were Rs 17,975 million.
    • Pharma: This segment contributed Rs 3,005 million to the total revenue for FY26, up from Rs 2,151 million in FY25. The segment reported a loss before tax of Rs 2,744 million for the year.
  • Dividend: The Board of Directors recommended a final dividend of Rs 10/- per equity share (1000%) for FY26. Combined with the interim dividend of Rs 5/- paid earlier, the total dividend for the year is Rs 15/- per equity share of face value Re 1/- each.
  • Qualified Institutional Placement (QIP) Utilization: The company raised Rs 20,000 million through QIP in September 2020. As of FY26, the entire net proceeds of Rs 19,750 million have been fully utilized, with Rs 18,419 million invested in subsidiaries and Rs 1,331 million used for capital expenditure.
  • Exceptional Items:
    • The company recognized a provision for impairment of its investment in PI Health Sciences Limited (PIHS) amounting to Rs 1,100 million due to business losses.
    • An incremental liability of Rs 17 million was recognized in Q4FY26 (totaling Rs 223 million for FY26) due to the reassessment of employee benefit obligations following the notification of new Labour Codes.
  • Management & Personnel Changes:
    • Dr. Marco Busch was designated as Senior Management Personnel effective May 19, 2026.
    • Mr. Rajnish Sarna resigned as Joint Managing Director to focus on health recovery but will continue as a Non-Executive, Non-Independent Director effective May 19, 2026.
    • Dr. Atul Kumar Gupta was appointed as an Additional Director and Whole-time Director for a term of three years effective May 19, 2026.

Result PDF

Result PDF

Agrochemicals company PI Industries announced Q3FY26 results

  • Total Income: Rs 13,757 million against Rs 19,008 million during Q3FY25, change -28%.
  • EBITDA: Rs 3,027 million against Rs 5,122 million during Q3FY25, change -41%.
  • EBITDA Margin: 22% for Q3FY26.
  • PAT: Rs 3,113 million against Rs 3,727 million during Q3FY25, change -16%.
  • The company saw a ~32% decline in Agchem Exports (Volume down ~ 29 %) in line with the customer delivery schedule.
  • Pharma revenue contracted by 6% YoY due to the deferment of supply schedules to Q4FY26. Pharma revenue contributes ~5% of the export revenue.
  • Overheads increase, comprising the strategic development of new businesses and the promotion of new products (6%), offset by effective cost control in existing businesses.
  • The Board has approved an interim dividend for FY25-26 of Rs 5.00 per share.

Result PDF

Agrochemicals company PI Industries announced Q2FY26 results

  • Revenue: Rs 18,723 million against Rs 22,210 million during Q2FY25, change -16%.
  • EBITDA: Rs 5,434 million against Rs 6,289 million during Q2FY25, change -14%.
  • EBITDA Margin: 29% for Q2FY26.
  • Net Profit: Rs 4,093 million against Rs 5,082  million during Q2FY25, change -19%.

Result PDF

Agrochemicals company PI Industries announced Q1FY26 results

  • Revenue: Rs 19,005 million compared to Rs 20,689 during Q1FY25, change -8%.
  • EBITDA: Rs 5,219 million compared to Rs 5,853 during Q1FY25, change -11%.
  • EBITDA Margin: 27% for Q1FY26.
  • PAT: Rs 4,000 million compared to Rs 4,488 during Q1FY25, change -11%.

Result PDF

Agrochemicals company PI Industries announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue stood at Rs 17,871 million up by 3%
  • EBITDA for the quarter stood at Rs 4,569 million up by 3%
  • PBT Stood at Rs 4,322 million for the quarter up by 5%
  • PAT stood at Rs 3,305 down by 11%

FY25 Financial Highlights:

  • Revenue stood at Rs 79,778 million up by 4%
  • EBITDA for the quarter stood at Rs 21,833 million up by 8%
  • PBT Stood at Rs 21,420 million for the quarter up by 13%
  • PAT stood at Rs 16,602 down by 1%

Result PDF

Agrochemicals company PI Industries announced Q1FY25 results:

  • Revenue: Rs 20,689 million in Q1FY25, an 8% increase compared to Rs 19,014 million in Q1FY24.
  • Gross Margin: 52% in Q1FY25, up by 526 basis points from 47% in Q1FY24.
  • Overheads: Rs 4,880 million in Q1FY25, representing a 16% increase from Rs 4,208 million in Q1FY24.
  • EBITDA: Rs 5,853 million in Q1FY25, a 24% increase compared to Rs 4,726 million in Q1FY24.
  • EBITDA Margin: 28% in Q1FY25, up by 356 basis points from 25% in Q1FY24.
  • Net Profit: Rs 4,488 million in Q1FY25, reflecting a 17% increase from Rs 3,829 million in Q1FY24.
  • Net fixed asset increase by Rs 2,786 million Y-o-Y.
  • Total capex for Q1FY25 is Rs 1,523 million (Q1FY24 Rs 1,241 million).
  • Trade working capital in terms of Days of Sales improved to 55 days as on 30-Jun-24 vs. 83 days as on 30-Jun-23.
  • Inventory levels of Rs 11,270 million, reduced in terms of Days of Sales from 73 days as on 30-Jun-23 to 50 days.
  • Free Cash Flow generation increased 62% to Rs 5,067 million (Q1FY23 Rs 3,132 million).

Result PDF

Agrochemicals company PI Industries announced FY24 results:

  • Overall 18% YoY revenue growth
  • 19% growth in Agchem Exports over a high base mainly on account of scale-up of existing products and introduction of 6 new products.
  • Biologicals products’ revenue increased by ~29% YoY.
  • Overheads increase attributable to the newly acquired Pharma businesses (~16%) and scale-up of Exports (~14%).
  • Overall favorable product mix and operating leverage reflected in improvement in EBITDA margin to 26%.
  • Net profit improved by 37% YoY attributable to EBITDA growth, low ETR.
  • Cash flow from operating activities increased ~16% to Rs 20,359 million (FY23 Rs 17,572 million).
  • Net fixed asset increase by Rs 7,902 million YoY.
  • Total capex for FY24 is Rs 10,823 million including Pharma1 acquired assets of Rs 4,972 million. The capex excluding this addition is Rs 5,851 million (FY23 Rs 3,385 million).
  • Trade working capital in terms of Days of Sales improved to 59 days as on 31- March-24 vs. 79 days as on 31-March-23. Inventory levels of Rs 13,012 million, reduced in terms of Days of Sales from 79 days as on 31-March-23 to 62 days.
  • Free Cash flow increased 20% to Rs 14,152 million (FY23 Rs 11,750 million).
  • Surplus cash net of debt is Rs 38,825 million
  • Proforma EBITDA for FY24, before development spend of ~Rs. 460 million, works out to ~12%.
  • Inventory of Rs 862 million reduced from Rs 865 million as on 31-Dec-23.
  • Capex FY24 of Rs 1,322 million

Result PDF

Agrochemicals company PI Industries announced Q1FY24 results:

  • Revenue of Rs 15,432 million in Q1FY23 compared to Rs 19,104 million in Q1FY24, up 24% YoY
  • Gross margin of 44% in Q1FY23 compared to 47% in Q1FY24, up 267 bps YoY
  • Overheads of Rs 3,310 million in Q1FY23 compared to Rs 4,208 million in Q1FY24, up 27% YoY
  • EBITDA of Rs 3,495 million in Q1FY23 compared to Rs 4,726 million in Q1FY24, up 35% YoY
  • EBITDA as % of Revenue of 23% in Q1FY23 compared to 25% in Q1FY24, up 209 bps YoY
  • Net Profit of Rs 2,624 million in Q1FY23 compared to Rs 3,829 million in Q1FY24, up 46% YoY
  • Total capex for Q1FY24 is Rs 6,490 million including Pharma acquired assets of Rs 5,249 million through business combination. The capex excluding this addition is Rs 1,241 million (Q1FY23 Rs 506 million).

 

 

Result PDF

Agrochemicals company PI Industries announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Overall 12% YoY revenue growth
    • 15% growth in exports led by price, currency, and favourable product mix of ~17% offset by volume decrease of ~2%
    • Domestic growth at 1% YoY is driven by a volume increase of ~2% offset by a price decrease of ~1%
    • Gross margin improved on account of a favourable product mix
    • 37% increase in PAT attributable to EBITDA growth despite higher depreciation
    • Cash generated from operations before tax during Q4FY23 is Rs 5,729 million (Q4FY22 Rs 2,640 million)
    • Trade working capital was reduced by Rs 2,237 million during Q4FY23
    • The board proposed a final dividend for FY23 of Rs 5.50 per share, aggregating to a total dividend for FY23 of Rs 10.00 per share
  • FY23:
    • Total capex for FY23 is Rs 3,385 million (FY22 Rs 3,204 million)
      • Actual capex spend is in line with the plan
      • A key focus of driving higher capacity utilisation by improving throughput
    • Operating profit before working capital changes is Rs 15,522 million (FY22 Rs 12,314 million)
    • Inventory levels reduced in terms of Days of Sales to approx. 79 days to Rs 13,976 million
    • Improved working capital cycle to 79 days as of 31-Mar-23 vs. 103 days as on 31-Mar-22
    • Cash flow from operating activities is Rs 15,014 million (FY22 Rs 5,287 million)
    • The surplus cash net of debt is Rs 32,343 million. QIP funds remained invested into deposits and debt mutual funds with SLR philosophy while final deployment aligned with PI’s longer-term growth strategy is underway.
    • Capitalised PI Health Sciences (PIHS) for planned acquisitions and capacity build-up

 

 

Result PDF

Agrochemicals company PI Industries announced Q2FY23 results:

  • Q2FY23:
    • Overall 31% YoY revenue growth
    • 29% growth in Exports on a higher base
      • Led by volume growth of 25%, favorable price and currency of 4%
    • 36% growth in Domestic mainly driven by:
      • Volume growth of 31% and price increase of 5%
      • Newly launched brands contributing to significant revenue growth
    • Trend of rising input costs and passthrough continued both in exports and domestic during Q2
    • EBITDA margin improved on account of favorable product mix and operating leverage
    • 46% increase in PAT attributable to EBITDA growth and despite higher depreciation and ETR
  • H1FY23:
    • 30% YoY revenue growth
    • 34% growth in exports over a high base mainly on account of increase in revenue of existing products
    • 19% growth in Domestic segment
      • Strong Kharif season - recovery in Q2FY23
    • Newly launched brands such as Distruptor, Brofreya, Sectin, Provide, Dinoace getting good traction and acceptance
    • Trend of rising input costs and passthrough continued both in Exports and Domestic during H1
    • Favorable product mix and significant increase in operating leverage reflected in improvement in EBITDA margin to 24%
    • Net profit improved by 43% YoY due to EBITDA growth, despite higher ETR

 

Result PDF

Trending News

China's May steel exports fell 3% YoY to 10.3 MT, with CY26 YTD reaching 44.6 MT (down 8% YoY)

As per media sources, China steel exports declined by ~3% YoY to 10.3 MT in May’26 with cumulative exports in CY26 on YTD basis reaching to 44.6 MT (down by 8% YoY).

Published on 10-Jun-2026 09:14

Interarch Bags ₹58 Cr Order for Pre-Engineered Steel Buildings

Interarch Building Solutions Ltd has secured a domestic order worth ~₹ 58 crore plus taxes for the design, engineering, manufacturing, supply, and erection of a pre-engineered steel building system. 

Published on 10-Jun-2026 09:13

JSW Infra to Develop Kolkata Port Outer Container Terminal with 9.3 Lakh TEUs Capacity

JSW Infrastructure has won a project to develop and operate an Outer Container Terminal and 5 berths from Syama Prasad Mookerjee Port Authority (SMPA), Kolkata. 

Published on 10-Jun-2026 09:12

KNR Constructions bags ₹235.1Cr Malkajgiri flyover project in Hyderabad for 24-month completion

KNR Constructions is in receipt of Letter of Acceptance from Malkajgiri Municipal Corporation, Hyderabad on 09th June 2026 for Construction of 6 lane bi directional flyover crossing TKR College junction, Gayatri Nagar Junction and Mandamallamma Junction 

Published on 10-Jun-2026 09:11

Dixon Tech & Taiwan’s Gemtek forge India JV for optical transceivers and telecom gear manufacturing

As per exchange fillings, Dixon Technologies has entered into a binding term sheet with Taiwan-based Gemtek Technology to form a joint venture for manufacturing and supplying Optical Transceivers (SFP), BOSA (Bidirectional Optical Subassembly) modules and other telecom products in India. 

Published on 10-Jun-2026 09:10

IN-SPACe invites Indian private firms to take over ISRO’s heavy-lift LVM3 rocket technology

IN-SPACe has invited expressions of interest (EoI) from private companies and industry consortia for the technology transfer (ToT) of ISRO’s Launch Vehicle Mark-3 (LVM3), India’s heaviest operational launch vehicle. 

Published on 10-Jun-2026 09:09

Disclaimer – I ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is acting as a distributor to solicit bond related products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein mentioned are solely for informational and educational purpose.
Download App

Download Our App

Get it on google Play Store Download on the App Store
market app