PI Industries Ltd
NSE:PIIND
PI Industries Ltd
PI Industries Ltd. emerged from the rich agricultural fields of India in 1947, nurturing a legacy interwoven with agricultural and technological innovation. Founded with the aim to serve the booming agricultural markets, the company has steadily grown to become a key player in the agrochemical industry. At the heart of its operations lies a commitment to research and development, allowing it to craft unique and specialized agrochemical products that cater to various crop needs. With a formidable in-house R&D team, PI Industries not only develops its formulations but also collaborates globally, entering technical and strategic alliances to co-develop and enhance agro inputs. It's this blend of domestic insight and global partnerships that propels the company forward, setting it apart in a competitive landscape.
The company operates through two main avenues: custom synthesis and manufacturing (CSM) as well as domestic agri inputs. Within the CSM segment, PI Industries crafts exclusive molecules for some of the world's leading agrochemical companies, capitalizing on cutting-edge technology and delivering tailor-made solutions. This strategic focus grants it access to international markets, underpinning strong revenue streams. Simultaneously, the domestic agri inputs division focuses on marketing branded products that improve crop yields and health, directly addressing the needs of Indian farmers. By continually solving on-ground agricultural challenges and embracing innovative practices, PI Industries ensures robust growth, positioning itself not just as a supplier of products, but as a partner in global agricultural improvement.
PI Industries Ltd. emerged from the rich agricultural fields of India in 1947, nurturing a legacy interwoven with agricultural and technological innovation. Founded with the aim to serve the booming agricultural markets, the company has steadily grown to become a key player in the agrochemical industry. At the heart of its operations lies a commitment to research and development, allowing it to craft unique and specialized agrochemical products that cater to various crop needs. With a formidable in-house R&D team, PI Industries not only develops its formulations but also collaborates globally, entering technical and strategic alliances to co-develop and enhance agro inputs. It's this blend of domestic insight and global partnerships that propels the company forward, setting it apart in a competitive landscape.
The company operates through two main avenues: custom synthesis and manufacturing (CSM) as well as domestic agri inputs. Within the CSM segment, PI Industries crafts exclusive molecules for some of the world's leading agrochemical companies, capitalizing on cutting-edge technology and delivering tailor-made solutions. This strategic focus grants it access to international markets, underpinning strong revenue streams. Simultaneously, the domestic agri inputs division focuses on marketing branded products that improve crop yields and health, directly addressing the needs of Indian farmers. By continually solving on-ground agricultural challenges and embracing innovative practices, PI Industries ensures robust growth, positioning itself not just as a supplier of products, but as a partner in global agricultural improvement.
Revenue Softness: Q3 revenue was INR 13,757 million, reflecting ongoing global headwinds and a high base last year.
Gross Margin Strength: Gross margin improved to 59% for the quarter, supported by a favorable product mix and cost discipline.
Pharma Growth: Pharma business delivered 50% revenue growth over 9 months, with several new customer wins and a focus on long-term value creation.
Outlook & Guidance: Management expects sequential volume growth in Q4 and is optimistic about broad-based recovery and stronger growth momentum from FY '27.
Product Pipeline: 5 new AgChem molecules and 4 domestic products commercialized YTD; continued investment in new platforms and technology.
Margin Guidance: Company maintains gross margin guidance of 50%–53% and EBITDA margin guidance of 25%–26% for the year.
Biologicals Progress: Biologicals business now contributes around 20% of sales, with regulatory approvals in key markets and strong expansion in Brazil, US, and Mexico.
Cash & CapEx: Company holds INR 35 billion net cash and plans INR 500–600 crore CapEx for FY '27.
Order Book: Order book stands at $1.21 billion as of this quarter.
