PI Industries logo

PI Industries share price

NSE: PIINDBSE: 523642Fertilizers & AgrochemicalsMid Cap

PI Industries Limited · Face value ₹1 · Listed Feb 1993 on BSE, Jun 2011 on NSE
Last close ₹2,055.00down ₹31.10 (1.49%)BSE ₹2,055.05

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

52-week range of traded prices to 28 Oct 2026
₹2,005.20Low, 27 Oct 2026₹3,832.90High, 10 Nov 2025
Market cap
₹31,178 Cr205th largest listed
P/E
26.76
P/B
2.78
Dividend yield
0.73%
ROE
10.9%
ROCE
9.9%
Debt to equity
0.02
Volume, NSE
2,02,56561.8% delivered

PI Industries share price chart

Daily closes since May 2009, BSE closes May 2007 to Jun 2011, adjusted for splits and bonuses. Earlier closes are left out: on 13 May 2009 the price changed in a way no corporate action on record explains.

−42.7%over a year · Nifty Chemicals −8.6% · Nifty 500 −8.8%

Results20-session average 2,87,946 shares a day, 49.5% 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. 1. Annual report, 20 Jul 2026, page 8
  2. 2. Annual report, 20 Jul 2026, page 10
  3. 3. Annual report, 20 Jul 2026, page 9
  4. 4. Annual report, 20 Jul 2026, page 9
  5. 5. Annual report, 20 Jul 2026, page 19
  6. 6. Annual report, 20 Jul 2026, page 83
  7. 7. Annual report, 20 Jul 2026, page 20
  8. 8. Annual report, 20 Jul 2026, page 12
  9. 9. Annual report, 20 Jul 2026, page 16
  10. 10. Annual report, 20 Jul 2026, page 85
  11. 11. Annual report, 20 Jul 2026, page 86
  12. 12. Annual report, 20 Jul 2026, page 11
  13. 13. Investor presentation, 11 Aug 2026, page 5
  14. 14. Earnings call, 12 Aug 2026, page 7
  15. 15. Exchange filing, 11 Aug 2026, page 5
  16. 16. Annual report, 20 Jul 2026, page 82
  17. 17. Annual report, 20 Jul 2026, page 35
  18. 18. Annual report, 20 Jul 2026, page 35
  19. 19. Annual report, 20 Jul 2026, page 79
  20. 20. Annual report, 20 Jul 2026, page 35
  21. 21. Annual report, 20 Jul 2026, page 35
  22. 22. Earnings call, 12 Aug 2026, page 6
  23. 23. Annual report, 20 Jul 2026, page 36
  24. 24. Annual report, 20 Jul 2026, page 85
  25. 25. Investor presentation, 11 Aug 2026, page 9
  26. 26. Annual report, 20 Jul 2026, page 36
  27. 27. Annual report, 20 Jul 2026, page 86
  28. 28. Annual report, 20 Jul 2026, page 38
  29. 29. Annual report, 20 Jul 2026, page 38
  30. 30. Annual report, 20 Jul 2026, page 36
  31. 31. Annual report, 20 Jul 2026, page 86
  32. 32. Annual report, 20 Jul 2026, page 79
  33. 33. Annual report, 20 Jul 2026, page 20
  34. 34. Annual report, 20 Jul 2026, page 19
  35. 35. Annual report, 20 Jul 2026, page 85
  36. 36. Annual report, 20 Jul 2026, page 16
  37. 37. Earnings call, 12 Aug 2026, page 9
  38. 38. Earnings call, 12 Aug 2026, page 7
  39. 39. Earnings call, 12 Aug 2026, page 11
  40. 40. Earnings call, 12 Aug 2026, page 16
  41. 41. Earnings call, 12 Aug 2026, page 10
  42. 42. Exchange filing, 19 Oct 2026, page 1
  43. 43. Exchange filing, 19 Oct 2026, page 2
  44. 44. Annual report, 20 Jul 2026, page 11
  45. 45. Annual report, 20 Jul 2026, page 85
  46. 46. Annual report, 20 Jul 2026, page 1
  47. 47. Exchange filing, 6 Jan 2026, page 2

Results

Consolidated; ₹ crore.PI Industries quarterly results

Revenue growth, 12 months
−16.6%
Net profit growth, 12 months
−27.7%

Quarter to Jun 2026, against the quarter before

Revenue
₹1,702 Crup 8.76%
Net profit
₹244 Crup 21.98%
Net margin
14.3%

Revenue by quarter

₹2,221 CrSep 24₹1,901 CrDec 24₹1,787 CrMar 25₹1,901 CrJun 25₹1,872 CrSep 25₹1,376 CrDec 25₹1,565 CrMar 26₹1,702 CrJun 26
Peak revenue ₹2,221 Cr, quarter to Sep 2024; lowest ₹1,376 Cr, quarter to Dec 2025

Net profit by quarter, a loss in red

₹508 CrSep 24₹373 CrDec 24₹331 CrMar 25₹400 CrJun 25₹409 CrSep 25₹311 CrDec 25₹200 CrMar 26₹244 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue2,2211,9011,7871,9011,8721,3761,5651,702
Net profit508373331400409311200244
Net margin22.9%19.6%18.5%21.0%21.9%22.6%12.8%14.3%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Agro Chemicals₹6,417 Crdown 17.36%95.5%
  • Pharma₹301 Crup 39.70%4.5%
The pill is the change in revenue on the year before; the share is of all the businesses together.

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

Price to earnings

At or below today's level on 5% of 2,478 trading days over the last 10 years.

LowestHighest
Its median36.64Industry median18.63
Price to book

At or below today's level on 0.2% of 1,976 trading days since Oct 2018.

LowestHighest
Its median6.99Industry median1.91
Dividend yield

At or below today's level on 99.9% of 2,478 trading days over the last 10 years.

LowestHighest
Its median0.31%Industry median0.52%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend 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%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.PI Industries shareholding pattern

Shareholding by group

  • Promoters46.09%
  • Foreign institutions14.78%
  • Indian institutions31.52%
  • Individuals and others7.60%
  • Employee trusts0.01%
Holder
MAYANK SINGHALPromoter20.45%
MADHU SINGHALPromoter9.42%
LICI ULIP-GROWTH FUNDInsurance companies7.01%
POOJA SINGHAL JOINTLY WITH SHEFALI KHUSHALANI(Trustees of Alpha Family Trust)Promoter4.05%
POOJA SINGHAL JOINTLY WITH SHEFALI KHUSHALANI(Trustees of Beta Family Trust)Promoter4.05%
SHEFALI KHUSHALANI JOINTLY WITH MADHU SINGHAL(Trustees of Domane Family Trust)Promoter4.05%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −0.05 pts, Indian institutions −0.12 pts, mutual funds −0.13 pts.

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 time
2
Bought again
7
Added
48
Cut
50
Held unchanged
62
Sold out
6
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 29 Oct 2025.PI Industries insider trading

Bought on the market Sold on the market
  • Others0 purchases, 1 saleNo purchase₹0.12 CrNet−₹0.12 Cr2 off-market moves
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

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

Return on equity across, P/E up, size is market cap
Company
UPL logoUPLUPL45,28122.421.31+12.9%+69.3%6.3%9.4%1.12%
Sumitomo Chemical India logoSumitomo Chemical IndiaSUMICHEM16,74429.964.53−2.6%+3.0%16.2%15.8%0.39%
Bayer Cropscience logoBayer CropscienceBAYERCROP14,75020.154.97−2.8%+23.6%25.2%26.2%4.57%
Sharda Cropchem logoSharda CropchemSHARDACROP6,1649.841.97+18.5%+49.1%22.2%22.3%2.20%
Dhanuka Agritech logoDhanuka AgritechDHANUKA3,95714.762.35−5.6%−11.7%17.4%18.5%0.23%
Rallis India logoRallis IndiaRALLIS3,67018.631.67+6.8%+11.9%9.3%11.3%1.59%
Bhagiradha Chemicals & Industries logoBhagiradha Chemicals & IndustriesBHAGCHEM2,67097.023.82+34.1%+126.9%4.0%5.7%0.07%
NACL Industries logoNACL IndustriesNACLIND2,621211.863.84+11.9%–2.2%7.4%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

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

4Mar 174Mar 184Mar 194Mar 205Mar 216Mar 2210Mar 2315Mar 2416Mar 2515Mar 26
Highest ₹16.00 a share, year to Mar 2025.
Ex-dateTypePer share
7 Aug 2026Final₹10.00
23 Feb 2026Interim₹5.00
7 Aug 2025Final₹10.00
14 Feb 2025Interim₹6.00
20 Aug 2024Final₹9.00
21 Feb 2024Interim₹6.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.PI Industries announcements

PI Industries share price by year

Each calendar year to 2025.PI Industries share price history

YearClose at year endChangeHighest closeLowest close
20253,238.20−12.1%4,324.202,987.10
20243,685.65+4.8%4,731.353,241.95
20233,515.90+2.8%3,972.452,903.70
20223,419.90+12.7%3,623.702,367.35
20213,034.20+38.2%3,497.601,999.25
20202,195.05+51.8%2,445.651,010.05
20191,445.90+67.7%1,506.55832.05
2018862.45−10.4%1,016.20696.80
2017962.50+15.8%986.40692.25
2016831.10+28.0%908.50516.15
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 20262,030.002,093.602,005.202,086.102,054.195,83,28560.4%
26 Oct 20262,051.002,061.502,006.702,020.002,023.594,46,22254.2%
23 Oct 20262,084.002,084.102,013.002,051.002,034.392,76,99242.2%
22 Oct 20262,101.002,103.002,061.202,074.902,078.161,16,01533.7%
21 Oct 20262,085.002,140.002,077.802,103.002,107.456,39,89246.4%
19 Oct 20262,190.002,219.602,151.002,163.502,188.643,25,68152.1%
16 Oct 20262,202.302,222.402,171.302,190.002,192.822,01,63951.5%
15 Oct 20262,218.802,233.002,187.702,203.802,206.971,22,25642.6%
14 Oct 20262,137.402,237.502,116.802,218.802,209.345,85,57340.4%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Stock split history

Ex-dateEventPrice factorWhat happened
12 Apr 2013Split0.2000Each share became 5.
17 Aug 2011Split0.5000Each share became 2.
8 Jul 2010Price move–Between two trading sessions the price moved by a fifth or more. No corporate action is on record. Not adjusted for.
13 May 2009Price 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.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Where an event has no factor that can be worked out, the chart leaves out the closes before it. Any other event is noted and not adjusted for.

Company details