PI Industries share price
NSE: PIINDBSE: 523642Fertilizers & AgrochemicalsMid Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹2,086.10.
28 Oct: open ₹2,086.10, high ₹2,096.40, low ₹2,055.00
- Next results date: the board meets on 4 Nov 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹31,178 Cr205th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 26.76
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 2.78
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.73%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 10.9%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 9.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.02
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 2,02,56561.8% delivered
About PI Industries
PI Industries Limited is a life sciences company with its registered office in Udaipur, Rajasthan.12 It makes crop protection chemicals under contract for global agrochemical innovators, sells branded crop protection products and biologicals (crop inputs made from living organisms and natural substances) to farmers across India, and offers contract research, development and manufacturing to drug makers.3
Its business is organised into Agro Chemicals, which covers custom synthesis and manufacturing, Agri Brands and biologicals, and Pharma, and it is expanding into specialty and electronic chemicals.4 In India it sells under the PI Industries and Jivagro brands to more than 1.6 million farmers through over 15,000 distributors; its 4 launches in the year to Mar 2026 were Uranus, Fixit, Alcor and Comet.56 It has 8 manufacturing locations and 4 research and development centres, pharmaceutical sites at Jaipur and Hyderabad in India and Lodi in Italy, and operates in more than 40 countries.742
It was established in 1946 and set up its custom synthesis and manufacturing business in 1996.18 It entered pharmaceutical contract research and manufacturing in 2022 through acquisitions in the US, India and Italy, and in 2024 acquired Plant Health Care, a global biologicals business now named PI AgSciences.89 Its main subsidiaries, all wholly owned, are Jivagro in horticulture, PI Health Sciences in pharmaceuticals and PI AgSciences, held through a Dubai holding company.1011 Narayan K Seshadri chairs the board and Mayank Singhal is Vice Chairperson and Managing Director.12
PI Industries key points
Results
- In the quarter to Jun 2026, consolidated revenue fell 10% to ₹17,023 million from ₹19,005 million; EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹3,693 million, a 22% margin, and profit was ₹2,442 million against ₹4,000 million.131415
- In the year to Mar 2026, consolidated revenue fell 16% to ₹67,137 million from ₹79,778 million and profit fell 20% to ₹13,208 million from ₹16,602 million; EBITDA was ₹17,053 million, a 25.4% margin.1617
- Gross margin (revenue left after the cost of materials) widened by 507 basis points to about 58% in the year to Mar 2026. That year's profit includes a one-off ₹1,260 million write-back of contingent acquisition payments, less a ₹229 million labour code provision.1819
- On its earnings call of 12 Aug 2026, the company said net cash was ₹38 billion and net working capital (cash tied up in stock and receivables, less payables) fell by 19 days, releasing ₹300 crore of cash.14
Business lines
- Agrochemical exports. Agrochemical exports fell 19% in the year to Mar 2026 with volumes down about 14%; 5 new molecules were commercialised, and products from the last 3 years made up 18% of export revenue.20
- Domestic crop protection. Domestic revenue fell about 7% in the year to Mar 2026 on adverse weather, lower crop prices and regulatory disruption in biologicals; in the quarter to Jun 2026 domestic volumes rose 12%, revenue 3% and biologicals 50%.2122
- Pharma (PI Health Sciences). PI Health Sciences' consolidated revenue rose 40% to ₹3,004.95 million in the year to Mar 2026, with active customers up from 77 to 86, and its net loss was ₹1,180.12 million; in the quarter to Jun 2026, revenue fell 25% from a year earlier.232425
- Global biologicals. Outside India, biologicals revenue reached an annualised run rate of about $12 million in the year to Mar 2026, with gross margins above 60%; PI AgSciences, the global biologicals subsidiary, had consolidated revenue of ₹1,041.32 million and a net loss of ₹1,241.31 million.2627
Plants and capacity
- The Panoli and Jambusar manufacturing sites in Gujarat span more than 150 acres and hold 16 multipurpose plants run on distributed control systems (computerised process control).28
- In the year to Mar 2026 the company invested ₹11,508 million in capital expenditure and commissioned production blocks for flow chemistry and vapor-phase chemistry; 3 new multi-product plants are under construction at Jambusar and Panoli.2930
Customers and partners
- The group holds 50% of PI Kumiai, an agrochemical joint venture with Kumiai Chemical Industry of Japan.31
Research and development
- Research and development spending was ₹3,556 million in the year to Mar 2026, and the company employs more than 700 scientists, over 200 of them with doctorates.3233
- Its development pipeline holds more than 90 molecules, over 60% of them at an advanced stage.34
- The company filed 43 patents in the year to Mar 2026, taking its portfolio to more than 250.35
- Pioxaniliprole, the company's own new insecticide, is the first insecticide molecule developed by an Indian company to receive ISO approval (an internationally agreed common name), the company says, and has been filed for registration in India.3634
What the company expects
- On its earnings call of 12 Aug 2026, the company said it expects lower single-digit revenue growth in the year to Mar 2027, depending on the industry cycle, and a better year than the year to Mar 2026 as exports recover in the second half.3738
- On its earnings call of 12 Aug 2026, the company said its capital expenditure guidance for the year to Mar 2027 is ₹700 crore to ₹800 crore, and that it plans to keep research spending at 3% to 4% of revenue.3940
- On its earnings call of 12 Aug 2026, the company said it hopes to launch Pioxaniliprole in India within the year, depending on regulatory approval.41
Recent events
- PI Foundation, a wholly owned not-for-profit subsidiary based in Udaipur, was incorporated on 19 Oct 2026.4243
- Rajnish Sarna stepped down as Joint Managing Director on 19 May 2026 and stays on the board as a non-executive director; Atul Kumar Gupta was appointed an executive director the same day.44
- On 19 May 2026 the board recommended a final dividend of ₹10 a share for the year to Mar 2026, making ₹15 with the ₹5 interim, subject to the annual general meeting of 14 Aug 2026; the company's documents give no outcome.4546
Litigation and regulatory matters
- In its exchange filing of 6 Jan 2026, the company disclosed a Punjab GST order demanding ₹3,90,09,656, including interest and penalty, for the year to Mar 2022; it said it has grounds to contest the order and is filing an appeal.47
Last updated
All 47 sources, each with its page
- 1. Annual report, 20 Jul 2026, page 8
- 2. Annual report, 20 Jul 2026, page 10
- 3. Annual report, 20 Jul 2026, page 9
- 4. Annual report, 20 Jul 2026, page 9
- 5. Annual report, 20 Jul 2026, page 19
- 6. Annual report, 20 Jul 2026, page 83
- 7. Annual report, 20 Jul 2026, page 20
- 8. Annual report, 20 Jul 2026, page 12
- 9. Annual report, 20 Jul 2026, page 16
- 10. Annual report, 20 Jul 2026, page 85
- 11. Annual report, 20 Jul 2026, page 86
- 12. Annual report, 20 Jul 2026, page 11
- 13. Investor presentation, 11 Aug 2026, page 5
- 14. Earnings call, 12 Aug 2026, page 7
- 15. Exchange filing, 11 Aug 2026, page 5
- 16. Annual report, 20 Jul 2026, page 82
- 17. Annual report, 20 Jul 2026, page 35
- 18. Annual report, 20 Jul 2026, page 35
- 19. Annual report, 20 Jul 2026, page 79
- 20. Annual report, 20 Jul 2026, page 35
- 21. Annual report, 20 Jul 2026, page 35
- 22. Earnings call, 12 Aug 2026, page 6
- 23. Annual report, 20 Jul 2026, page 36
- 24. Annual report, 20 Jul 2026, page 85
- 25. Investor presentation, 11 Aug 2026, page 9
- 26. Annual report, 20 Jul 2026, page 36
- 27. Annual report, 20 Jul 2026, page 86
- 28. Annual report, 20 Jul 2026, page 38
- 29. Annual report, 20 Jul 2026, page 38
- 30. Annual report, 20 Jul 2026, page 36
- 31. Annual report, 20 Jul 2026, page 86
- 32. Annual report, 20 Jul 2026, page 79
- 33. Annual report, 20 Jul 2026, page 20
- 34. Annual report, 20 Jul 2026, page 19
- 35. Annual report, 20 Jul 2026, page 85
- 36. Annual report, 20 Jul 2026, page 16
- 37. Earnings call, 12 Aug 2026, page 9
- 38. Earnings call, 12 Aug 2026, page 7
- 39. Earnings call, 12 Aug 2026, page 11
- 40. Earnings call, 12 Aug 2026, page 16
- 41. Earnings call, 12 Aug 2026, page 10
- 42. Exchange filing, 19 Oct 2026, page 1
- 43. Exchange filing, 19 Oct 2026, page 2
- 44. Annual report, 20 Jul 2026, page 11
- 45. Annual report, 20 Jul 2026, page 85
- 46. Annual report, 20 Jul 2026, page 1
- 47. Exchange filing, 6 Jan 2026, page 2
Results
Consolidated; ₹ crore.PI Industries quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −16.6%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −27.7%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹1,702 Crup 8.76%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹244 Crup 21.98%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 14.3%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,221 | 1,901 | 1,787 | 1,901 | 1,872 | 1,376 | 1,565 | 1,702 |
| Net profit | 508 | 373 | 331 | 400 | 409 | 311 | 200 | 244 |
| Net margin | 22.9% | 19.6% | 18.5% | 21.0% | 21.9% | 22.6% | 12.8% | 14.3% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹6,714 Crdown 15.85%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹1,321 Crdown 20.44%
- Net margin
- 19.7%
Revenue by year
Net profit by year, a loss in red
The years either side of a change of basis do not compare. From the year to Mar 2018, GST replaced excise duty on 1 Jul 2017, and revenue before that day includes the duty.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,383what Revenue, Mar 2017, includes. This period's revenue includes excise duty of ₹106 crore, a tax on the goods the company makes that it collects and pays to the government. | 2,309what Revenue, Mar 2018, includes. This period's revenue includes excise duty of ₹32 crore, a tax on the goods the company makes that it collects and pays to the government. | 2,841 | 3,367 | 4,577 | 5,300 | 6,492 | 7,666 | 7,978 | 6,714 |
| Net profit | 459 | 368 | 410 | 457 | 738 | 844 | 1,230 | 1,682 | 1,660 | 1,321 |
| Net margin | 19.3% | 15.9% | 14.4% | 13.6% | 16.1% | 15.9% | 18.9% | 21.9% | 20.8% | 19.7% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Agro ChemicalsAgro Chemicals, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹6,417 Crdown 17.36%95.5%
- PharmaPharma, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹301 Crup 39.70%4.5%
Valuation
Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2018: days before it are of the company before the change.PI Industries PE ratio and valuation
At or below today's level on 5% of 2,478 trading days over the last 10 years.
At or below today's level on 0.2% of 1,976 trading days since Oct 2018.
At or below today's level on 99.9% of 2,478 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −20.1% | −20.4% | −0.3% | 0.6% |
| 3 years | −3.1% | +2.4% | −5.8% | 0.5% |
| 5 years | +4.2% | +12.3% | −7.6% | 0.4% |
Mutual fund holdings
171 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 77 of the 98 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 2 more funds filed their first portfolio on record, holding it.All 171 funds holding PI Industries
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 2
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 7
- AddedAdded. Funds that held more shares than at the end of the month before.
- 48
- CutCut. Funds that held fewer shares than at the end of the month before.
- 50
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 62
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 6
| Fund | |||
|---|---|---|---|
| 28,44,109 | 0.99% | ₹657.0 Cr | |
| 22,70,000 | 1.00% | ₹524.4 Cr | |
| 20,12,447 | 1.27% | ₹464.9 Cr | |
| 19,39,347 | 1.42% | ₹448.0 Cr | |
| 18,36,162 | 0.99% | ₹424.2 Cr | |
| 17,22,784 | 1.31% | ₹398.0 Cr | |
| 15,00,437 | 0.48% | ₹346.6 Cr | |
| 15,00,000 | 1.49% | ₹346.5 Cr | |
| 13,90,377 | 1.64% | ₹321.2 Cr | |
| 11,97,781 | 1.10% | ₹276.7 Cr |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.PI Industries insider trading
- Others0 purchases, 1 saleNo purchase₹0.12 CrNetNet. The value bought on the market less the value sold, over the trades whose filers stated a value.−₹0.12 Cr2 off-market moves
PI Industries competitors and peers
Pesticides & Agrochemicals, 34 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to PI Industries in market cap.Chemical companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 45,281 | 22.42 | 1.31 | +12.9% | +69.3% | 6.3% | 9.4% | 1.12% | |
| 16,744 | 29.96 | 4.53 | −2.6% | +3.0% | 16.2% | 15.8% | 0.39% | |
| 14,750 | 20.15 | 4.97 | −2.8% | +23.6% | 25.2% | 26.2% | 4.57% | |
| 6,164 | 9.84 | 1.97 | +18.5% | +49.1% | 22.2% | 22.3% | 2.20% | |
| 3,957 | 14.76 | 2.35 | −5.6% | −11.7% | 17.4% | 18.5% | 0.23% | |
| 3,670 | 18.63 | 1.67 | +6.8% | +11.9% | 9.3% | 11.3% | 1.59% | |
| 2,670 | 97.02 | 3.82 | +34.1% | +126.9% | 4.0% | 5.7% | 0.07% | |
| 2,621 | 211.86 | 3.84 | +11.9% | – | 2.2% | 7.4% | 0.00% |
Dividends
Per share, by the year it was paid for, and the latest payments.PI Industries dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 7 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹10.00 |
| 23 Feb 2026 | Interim | ₹5.00 |
| 7 Aug 2025 | Final | ₹10.00 |
| 14 Feb 2025 | Interim | ₹6.00 |
| 20 Aug 2024 | Final | ₹9.00 |
| 21 Feb 2024 | Interim | ₹6.00 |
Latest announcements
Routine notices left out.PI Industries announcements
Oct 2026
27 Oct · Board meeting
Sep 2026
21 Sep · Business
18 Sep · Analysts
PI Industries share price by year
Each calendar year to 2025.PI Industries share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 3,238.20 | −12.1% | 4,324.20 | 2,987.10 |
| 2024 | 3,685.65 | +4.8% | 4,731.35 | 3,241.95 |
| 2023 | 3,515.90 | +2.8% | 3,972.45 | 2,903.70 |
| 2022 | 3,419.90 | +12.7% | 3,623.70 | 2,367.35 |
| 2021 | 3,034.20 | +38.2% | 3,497.60 | 1,999.25 |
| 2020 | 2,195.05 | +51.8% | 2,445.65 | 1,010.05 |
| 2019 | 1,445.90 | +67.7% | 1,506.55 | 832.05 |
| 2018 | 862.45 | −10.4% | 1,016.20 | 696.80 |
| 2017 | 962.50 | +15.8% | 986.40 | 692.25 |
| 2016 | 831.10 | +28.0% | 908.50 | 516.15 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 2,030.00 | 2,093.60 | 2,005.20 | 2,086.10 | 2,054.19 | 5,83,285 | 60.4% |
| 26 Oct 2026 | 2,051.00 | 2,061.50 | 2,006.70 | 2,020.00 | 2,023.59 | 4,46,222 | 54.2% |
| 23 Oct 2026 | 2,084.00 | 2,084.10 | 2,013.00 | 2,051.00 | 2,034.39 | 2,76,992 | 42.2% |
| 22 Oct 2026 | 2,101.00 | 2,103.00 | 2,061.20 | 2,074.90 | 2,078.16 | 1,16,015 | 33.7% |
| 21 Oct 2026 | 2,085.00 | 2,140.00 | 2,077.80 | 2,103.00 | 2,107.45 | 6,39,892 | 46.4% |
| 19 Oct 2026 | 2,190.00 | 2,219.60 | 2,151.00 | 2,163.50 | 2,188.64 | 3,25,681 | 52.1% |
| 16 Oct 2026 | 2,202.30 | 2,222.40 | 2,171.30 | 2,190.00 | 2,192.82 | 2,01,639 | 51.5% |
| 15 Oct 2026 | 2,218.80 | 2,233.00 | 2,187.70 | 2,203.80 | 2,206.97 | 1,22,256 | 42.6% |
| 14 Oct 2026 | 2,137.40 | 2,237.50 | 2,116.80 | 2,218.80 | 2,209.34 | 5,85,573 | 40.4% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 12 Apr 2013 | Split | 0.2000 | Each share became 5. |
| 17 Aug 2011 | Split | 0.5000 | Each share became 2. |
| 8 Jul 2010 | Price move | – | Between two trading sessions the price moved by a fifth or more. No corporate action is on record. Not adjusted for. |
| 13 May 2009 | Price move | – | Between two trading sessions the price fell 47% or more, or rose 90% or more. No corporate action is on record. Earlier prices are not shown. |
Company details
- NSE symbol
- PIIND
- BSE code
- 523642
- ISIN
- INE603J01030
- Industry
- Fertilizers & Agrochemicals
- Website
- www.piindustries.com
- CIN
- L24211RJ1946PLC000469
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1946
- Registered office
- Udaisagar Road, Udaipur 313001, Rajasthan
- Share registrar
- KFin Technologies Ltd
- Keeps the register of shareholders and handles transfers and dividend payments