P I Industries Ltd logo

P I Industries Ltd

PIIND NSE

Key Fundamentals

Volatility
Moderate
P/E Ratio
32.42
EBITDA
₹2,010 Cr
Return on Equity
11.76%
Debt to Equity
0.03
EPS
₹115.17
52W High
₹3,917.8
52W Low
₹2,457

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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50 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company is almost debt free.

Weaknesses

3
  • The company has delivered a poor sales growth of 7.96% over past five years.
  • Debtor days have increased from 65.4 to 87.6 days.
  • Working capital days have increased from 78.5 days to 120 days

Growth Rate

Revenue Growth
-15.59% ↘
Net Income Growth
-20.44% ↘
Cash Flow Change
-66.45% ↘
ROE
-28.07% ↘
ROCE
-28.81% ↘
EBITDA Margin (Avg.)
-5.61% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

P I Industries Ltd trades at a market cap of ₹37,658 Cr with a P/E of 32.3x amid a sharp TTM sales decline of -17% and profit decline of -33%. The company remains almost debt-free but faces deteriorating working capital efficiency with debtor days rising from 65.4 to 87.6 days.

Bull Case 8
  • Company is almost debt-free, providing strong balance sheet resilience and financial flexibility in a capital-intensive chemicals sector
  • Long-term compounded profit growth of 14% over 10 years demonstrates sustained earnings power through multiple cycles
  • 10-year compounded sales CAGR of 12% reflects a proven ability to scale revenue over extended periods
  • 10-year stock CAGR of 12% indicates long-term wealth creation track record for shareholders
  • 5-year compounded profit growth of 10% remains in double digits despite recent TTM weakness
  • 10-year average ROE of 17% reflects consistently efficient capital allocation over the long term
  • Price-to-book ratio of 3.35x is relatively moderate for a specialty chemicals company with a debt-free balance sheet
  • Dividend yield of 0.6% provides some income cushion while the company navigates a cyclical downturn
Bear Case 8
  • TTM sales declined -17%, signaling a significant demand slowdown or destocking in key end-markets
  • TTM profit declined -33%, indicating severe margin compression and earnings deterioration
  • 1-year stock CAGR of -34% reflects sharp erosion in market confidence and valuation de-rating
  • Working capital days increased from 78.5 to 120 days, indicating deteriorating operational efficiency and cash conversion
  • Debtor days increased from 65.4 to 87.6 days, suggesting customers are stretching payment terms or collection challenges
  • 3-year compounded sales growth of just 1% shows near-stagnation in top-line over a meaningful period
  • Last year ROE dropped to 11% from a 5-year average of 16%, indicating declining return on shareholder equity
  • P/E of 32.3x remains elevated despite -33% profit decline, suggesting limited margin of safety if earnings do not recover

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2d ago
Headwinds 2
  • Q1 profit drops 39% YoY Aug 11

    Net profit fell 39% to ₹2,442 Mn in Q1FY27 on a 10% revenue decline. Exports slumped 13.3% YoY, dragging overall performance.

  • Pharma order delays, margin pressure Aug 12

    PI Industries flagged sequential delays in pharma business order book and ongoing margin pressure. FY27 revenue growth guidance maintained at low single digits only.

Positives 3
  • ₹10 dividend for FY26 Jul 21

    Board recommended ₹10 per share final dividend with record date August 7, 2026, and payment by September 12. Subject to AGM approval on August 14.

  • Domestic biologicals grew 50%+ Aug 11

    Domestic biologicals segment delivered over 50% growth in Q1FY27, partially offsetting export weakness. Company remains debt-free with strong cash reserves.

  • New product launches in pipeline Aug 12

    2-3 new product launches expected soon from R&D and CSM pipeline. Brazil, Mexico, Europe, and the US identified as key growth markets.

Neutral 3
  • Investor meet on Aug 19 Aug 12

    PI Industries will present at the Motilal Oswal Global Investor Conference in Mumbai on August 19, 2026.

  • Q1 FY27 earnings call held Aug 3

    Earnings conference call hosted on August 12, 2026, at 12:00 noon IST following Q1FY27 results announcement.

  • FY26 BRSR and ESG update Jul 20

    Reported 21% renewable energy share and 6% reduction in freshwater withdrawal. Maintained 100% key supplier ESG coverage; incurred ₹30.03 lakh GST penalty.

TL;DR: PI Industries faces near-term headwinds from a sharp 39% profit decline, weak exports, and pharma order delays, with FY27 guidance at only low single-digit revenue growth. On the positive side, the company is debt-free, domestic biologicals are surging 50%+, and new CSM launches are imminent. The dividend signals confidence but the export-dependent model is under pressure. The trend is deteriorating on earnings quality, and recovery hinges on pharma order conversion and new molecule commercialisation.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,910
2,117
1,898
1,741
2,069
2,221
1,901
1,787
1,900
1,872
1,376
1,565
1,702
Expenses
1,443
1,566
1,344
1,299
1,486
1,593
1,389
1,332
1,381
1,331
1,073
1,228
1,335
Operating Profit
468
551
554
442
583
628
512
456
519
541
302
337
367
OPM %
24%
26%
29%
25%
28%
28%
27%
25%
27%
29%
22%
22%
22%
Other Income
52
49
58
60
75
123
76
75
89
85
172
74
66
Interest
4
8
7
11
8
8
8
8
4
3
6
4
8
Depreciation
70
80
78
80
83
80
99
90
96
98
105
107
104
PBT
445
512
526
411
566
663
481
432
507
525
363
300
322
Tax %
14%
6%
15%
10%
21%
23%
22%
24%
21%
22%
14%
33%
24%
Net Profit
383
480
449
370
449
508
373
330
400
409
311
200
244
EPS in Rs
25.24
31.67
29.57
24.35
29.58
33.5
24.57
21.78
26.36
26.98
20.52
13.2
16.1
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,940
2,096
2,277
2,277
2,841
3,366
4,577
5,300
6,492
7,666
7,978
6,714
6,516
Expenses
1,558
1,661
1,722
1,781
2,261
2,647
3,559
4,154
4,948
5,636
5,772
4,982
4,968
Operating Profit
382
435
555
496
580
720
1,018
1,146
1,544
2,030
2,206
1,732
1,548
OPM %
20%
21%
24%
22%
20%
21%
22%
22%
24%
26%
28%
26%
24%
Other Income
35
34
36
60
58
50
129
105
166
216
345
414
397
Interest
12
12
9
7
7
19
34
16
39
44
56
43
20
Depreciation
50
54
73
83
93
137
175
202
226
308
352
407
414
PBT
355
403
510
466
538
614
938
1,033
1,444
1,895
2,142
1,696
1,510
Tax %
31%
23%
10%
21%
24%
26%
21%
18%
15%
11%
22%
22%
—
Net Profit
246
312
459
368
410
457
738
844
1,230
1,682
1,660
1,321
1,165
EPS in Rs
18
22.72
33.39
26.66
29.72
33.06
48.66
55.62
81.04
111
109
87.06
76.8
Div. Payout %
14%
14%
12%
15%
13%
12%
10%
11%
12%
14%
15%
17%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
14
14
14
14
14
14
15
15
15
15
15
15
Reserves
883
1,157
1,613
1,911
2,272
2,605
5,327
6,105
7,183
8,716
10,142
11,215
Borrowings
115
151
120
83
49
519
373
316
46
191
184
342
Other Liabilities
622
626
554
618
820
1,087
1,287
1,354
1,235
1,822
1,908
1,832
Total Liabilities
1,633
1,949
2,301
2,626
3,155
4,225
7,002
7,791
8,480
10,744
12,249
13,405
Fixed Assets
533
874
945
998
1,186
1,858
2,138
2,452
2,606
3,528
4,209
4,620
CWIP
133
71
77
90
183
271
288
114
132
278
550
1,030
Investments
1
0
83
161
129
150
872
900
1,016
1,336
1,531
1,360
Other Assets
967
1,003
1,196
1,378
1,657
1,946
3,704
4,325
4,726
5,601
5,959
6,395
Total Assets
1,633
1,949
2,301
2,626
3,155
4,225
7,002
7,791
8,480
10,744
12,249
13,405
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
184
367
339
319
391
698
725
529
1,501
2,036
1,413
474
Investing
-146
-303
-235
-180
-322
-985
-2,430
-110
-496
-1,800
-1,421
-612
Financing
-53
-48
-53
-106
-125
350
1,690
-177
-483
-222
-286
-171
Net Cash Flow
-15
16
50
33
-56
63
-15
241
522
14
-294
-309
Free Cash Flow
16
48
198
150
23
29
287
192
1,179
1,417
575
-632
CFO/OP
79
106
83
84
88
112
87
61
114
119
81
48
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
72
69
68
84
85
70
56
60
43
44
64
88
Inventory Days
124
124
136
141
126
158
149
178
144
124
95
157
Days Payable
116
115
90
115
121
117
113
115
86
119
117
125
Cash Conversion Cycle
80
78
113
110
90
111
93
122
101
49
42
119
Working Capital Days
43
54
72
89
87
70
72
93
70
48
67
120
ROCE %
41%
36%
34%
25%
25%
23%
22%
17%
22%
24%
23%
15%

Shareholding Pattern

As of Jun 2026
Promoters 46.09%
DIIs 31.50%
FIIs 14.83%
Public 7.44%
Government 0.15%
Others 0.01%
Total 100.02%
  Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
46.09%
46.09%
46.09%
46.09%
46.09%
46.09%
46.09%
46.09%
46.09%
46.09%
46.09%
46.09%
FIIs
20.01%
20.41%
20.26%
18.76%
19.02%
18.46%
18.06%
16.98%
16.42%
15.97%
15.87%
14.83%
DIIs
23.11%
23.00%
24.18%
25.84%
26.21%
27.07%
27.43%
29.21%
30.26%
30.94%
31.20%
31.50%
Government
0.15%
0.15%
0.15%
0.15%
0.15%
0.15%
0.15%
0.15%
0.15%
0.15%
0.15%
0.15%
Public
10.61%
10.34%
9.29%
9.14%
8.54%
8.23%
8.28%
7.58%
7.09%
6.85%
6.69%
7.44%
Others
0.02%
0.02%
0.02%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
No. of Shareholders
1,58,268
1,84,515
1,57,991
1,56,790
1,50,190
1,57,993
1,67,265
1,50,401
1,37,932
1,34,860
1,33,299
1,40,999

Documents

Frequently Asked Questions about P I Industries Ltd

What does P I Industries Ltd do?
PI Industries Ltd is a leading player in the agro-chemicals space having strong presence in both Domestic and Export markets. It has state-of-art facilities in Gujarat having integrated process development teams with in-house engineering capabilities.[1]
Where is P I Industries Ltd (PIIND) listed?
P I Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: PIIND and BSE: 523642. You can view its live share price, financials, and ratios on Tapetide.
Which sector does P I Industries Ltd belong to?
P I Industries Ltd operates in the Chemicals sector within the Pesticides & Agrochemicals industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the PE ratio of P I Industries Ltd?
The Price-to-Earnings (PE) ratio of P I Industries Ltd is 32.42. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of P I Industries Ltd?
Over the past 52 weeks, P I Industries Ltd has traded between a low of ₹2,457 and a high of ₹3,917.8. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of P I Industries Ltd?
P I Industries Ltd has a Return on Equity (ROE) of 11.76%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research P I Industries Ltd on Tapetide?
On Tapetide, you can view P I Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

PI Industries Ltd is a leading player in the agro-chemicals space having strong presence in both Domestic and Export markets. It has state-of-art facilities in Gujarat having integrated process development teams with in-house engineering capabilities.[1]

Website piindustries.com
CEO Mr. Mayank Singhal
Employees 3,566
Listed 2011-06-15
Face Value ₹ 1
Issued Size 15,17,18,118

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