PIIND

PI Industries Limited

Custom synthesis and manufacturing services for agrochemicals and pharma CRDMO

Commodities›Chemicals›Fertilizers & Agrochemicals›Pesticides & Agrochemicals

piindustries.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹2190.00
Market cap
33,288 Cr
Stock P/E
28.6
P/B
2.96
Dividend yield
0.7%
ROE (FY26)
11.8%
ROCE (FY26)
14.9%
Operating margin (FY26)
19.3%
Debt / equity (FY26)
0.02
OCF / EBITDA (FY26)
27.9%
OCF / EBITDA (3Y)
66.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

PI Industries makes agrochemicals under contract manufacturing for its customers and sells its own agrochemical brands in India.

Company snapshot

2ndBy market cap

Ranked among 23 companies in Pesticides & Agrochemicals.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 97.9% of revenue

SegmentRevenue shareRevenuePBTAssets
Agro Chemicals
97.9%
6,062 Cr1,893 Cr—
Pharma
2.1%
130 Cr-183 Cr—

What we see

Positives
  • ✓Net margin of 19.7% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales2,117 Cr1,898 Cr1,741 Cr2,069 Cr2,221 Cr1,901 Cr1,787 Cr1,901 Cr1,872 Cr1,376 Cr1,565 Cr1,702 Cr
Operating expenses (approx.)1,566 Cr1,344 Cr1,299 Cr1,486 Cr1,593 Cr1,389 Cr1,332 Cr1,381 Cr1,331 Cr1,073 Cr1,228 Cr1,335 Cr
EBITDA551 Cr554 Cr442 Cr583 Cr628 Cr512 Cr456 Cr519 Cr541 Cr302 Cr337 Cr367 Cr
OPM %26.0%29.2%25.4%28.2%28.3%26.9%25.5%27.3%28.9%22.0%21.5%21.6%
Other income47 Cr56 Cr58 Cr73 Cr122 Cr76 Cr73 Cr86 Cr83 Cr67 Cr76 Cr64 Cr
Interest8 Cr7 Cr11 Cr8 Cr9 Cr8 Cr8 Cr4 Cr3 Cr6 Cr4 Cr8 Cr
Depreciation80 Cr78 Cr80 Cr83 Cr80 Cr99 Cr90 Cr97 Cr98 Cr105 Cr107 Cr104 Cr
Profit before tax512 Cr526 Cr411 Cr566 Cr663 Cr481 Cr432 Cr507 Cr525 Cr363 Cr301 Cr322 Cr
Tax %6.2%14.7%10.2%20.7%23.3%22.5%23.5%21.2%22.1%14.2%33.4%24.1%
Net profit481 Cr449 Cr370 Cr449 Cr508 Cr373 Cr331 Cr400 Cr409 Cr311 Cr200 Cr244 Cr
EPS (₹)₹31.67₹29.59₹24.36₹29.59₹33.51₹24.55₹21.79₹26.37₹26.98₹20.52₹13.20₹16.10

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,383 Cr2,309 Cr2,841 Cr3,367 Cr4,577 Cr5,300 Cr6,492 Cr7,666 Cr7,978 Cr6,714 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,830 Cr1,815 Cr2,265 Cr2,649 Cr3,565 Cr4,157 Cr4,950 Cr5,651 Cr5,799 Cr5,014 CrSign in free for the trailing twelve months
EBITDA553 Cr493 Cr576 Cr718 Cr1,012 Cr1,142 Cr1,542 Cr2,015 Cr2,179 Cr1,700 CrSign in free for the trailing twelve months
OPM %23.2%21.4%20.3%21.3%22.1%21.6%23.8%26.3%27.3%25.3%Sign in free for the trailing twelve months
Other income37 Cr60 Cr60 Cr49 Cr125 Cr101 Cr159 Cr208 Cr344 Cr311 CrSign in free for the trailing twelve months
Interest7 Cr5 Cr5 Cr17 Cr28 Cr13 Cr37 Cr30 Cr33 Cr16 CrSign in free for the trailing twelve months
Depreciation73 Cr83 Cr93 Cr137 Cr175 Cr202 Cr227 Cr308 Cr353 Cr407 CrSign in free for the trailing twelve months
Profit before tax510 Cr465 Cr538 Cr614 Cr939 Cr1,033 Cr1,444 Cr1,895 Cr2,142 Cr1,696 CrSign in free for the trailing twelve months
Tax %9.8%21.0%23.7%25.6%21.3%18.3%14.9%11.3%22.5%22.1%Sign in free for the trailing twelve months
Net profit459 Cr368 Cr410 Cr457 Cr738 Cr844 Cr1,230 Cr1,682 Cr1,660 Cr1,321 CrSign in free for the trailing twelve months
EPS (₹)₹33.46₹26.72₹29.74₹33.08₹49.92₹55.65₹81.06₹110.85₹109.44₹87.06Sign in free for the trailing twelve months
Dividend payout %————8.2%9.0%9.2%10.4%13.7%17.2%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital14 Cr14 Cr14 Cr14 Cr15 Cr15 Cr15 Cr15 Cr15 Cr15 Cr
Reserves1,613 Cr1,911 Cr2,272 Cr2,605 Cr5,327 Cr6,105 Cr7,183 Cr8,716 Cr10,142 Cr11,215 Cr
Borrowings83 Cr46 Cr10 Cr508 Cr257 Cr268 Cr—128 Cr112 Cr238 Cr
Other liabilities591 Cr655 Cr860 Cr1,098 Cr1,402 Cr1,403 Cr1,281 Cr1,905 Cr2,008 Cr1,975 Cr
Total liabilities2,301 Cr2,626 Cr3,155 Cr4,225 Cr7,002 Cr7,791 Cr8,480 Cr10,764 Cr12,277 Cr13,444 Cr
Fixed assets (net)938 Cr991 Cr1,179 Cr1,734 Cr2,020 Cr2,333 Cr2,494 Cr2,954 Cr3,318 Cr3,678 Cr
CWIP58 Cr69 Cr154 Cr237 Cr250 Cr64 Cr63 Cr173 Cr384 Cr755 Cr
Investments83 Cr161 Cr129 Cr150 Cr729 Cr900 Cr1,016 Cr1,336 Cr1,531 Cr1,360 Cr
Loans & advances——6 Cr8 Cr10 Cr3 Cr8 Cr4 Cr2 Cr1 Cr
Inventories432 Cr452 Cr536 Cr799 Cr1,053 Cr1,423 Cr1,398 Cr1,301 Cr984 Cr1,217 Cr
Trade receivables424 Cr527 Cr662 Cr647 Cr704 Cr869 Cr838 Cr1,091 Cr1,833 Cr2,320 Cr
Cash & bank84 Cr117 Cr61 Cr124 Cr110 Cr351 Cr873 Cr887 Cr592 Cr283 Cr
Other assets282 Cr310 Cr427 Cr525 Cr2,128 Cr1,849 Cr1,791 Cr3,018 Cr3,632 Cr3,829 Cr
Total assets2,301 Cr2,626 Cr3,155 Cr4,225 Cr7,002 Cr7,791 Cr8,480 Cr10,764 Cr12,277 Cr13,444 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity339 Cr319 Cr391 Cr698 Cr725 Cr529 Cr1,501 Cr2,036 Cr1,413 Cr474 Cr
Cash from investing-235 Cr-180 Cr-322 Cr-985 Cr-2,430 Cr-110 Cr-496 Cr-1,800 Cr-1,424 Cr-613 Cr
Cash from financing-53 Cr-106 Cr-125 Cr350 Cr1,690 Cr-177 Cr-483 Cr-222 Cr-286 Cr-171 Cr
Net cash flow50 Cr33 Cr-56 Cr63 Cr-15 Cr241 Cr522 Cr14 Cr-294 Cr-309 Cr
Free cash flow (OCF − Capex)197 Cr150 Cr22 Cr24 Cr286 Cr192 Cr1,175 Cr1,416 Cr563 Cr-644 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %30.2%23.9%23.7%20.2%17.3%16.4%20.6%21.7%21.2%14.9%
ROE %28.2%19.1%17.9%17.4%13.8%13.8%17.1%19.3%16.3%11.8%
Debtor days658385705660475284126
Inventory days139152142173153176148133108148
Days payable9312413612811611489117132119
Cash conversion cycle11111191115931211066859155
OCF / EBITDA %61.2%64.7%67.8%97.3%71.6%46.3%97.4%101.1%64.8%27.9%
OCF / EBITDA % (3 years)——64.6%78.8%78.6%67.9%74.5%86.5%86.3%66.6%
Debt / equity0.050.020.00430.190.050.04—0.010.010.02
Current ratio2.212.382.081.843.573.684.793.904.024.22
Net debt / EBITDA-0.0027—-0.090.530.15-0.07-0.57-0.38-0.22-0.03