PI Industries Limited
₹2,089.00-₹21.00 (-1.0%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹49,585 Cr
- P/E
- 28.1x
- EV / EBITDA
- 21.5x
- Revenue
- ₹7,571 Cr
- Net margin
- 24.2%
- ROCE
- 23.4%
Price chart
Technical chartScreen technicals →-41.9% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -9.4%
- 3M
- -24.9%
- 6M
- -31.6%
- 1Y
- -41.9%
- 5Y
- -24.6%
52-week range
Day change -₹21.00 (-1.0%) from ₹2,110 to ₹2,089 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in PIIND, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 16.7%
Concerns1
- Negative free cash flow (₹58 Cr)
Rule-based from financial data. Not advice.
About the company
PI Industries Limited, together with its subsidiaries, manufactures and distributes of agricultural chemicals in India, rest of Asia, North America, Europe, and internationally. It operates through Agro Chemicals and Pharma segments.
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PI Industries Limited, together with its subsidiaries, manufactures and distributes of agricultural chemicals in India, rest of Asia, North America, Europe, and internationally. It operates through Agro Chemicals and Pharma segments. The company offers agrochemicals, including insecticides, fungicides, herbicides, and biologicals; crop solutions for soybeans, chili, sugarcane, rice, wheat, cotton, and corn, as well as horticulture products; and plant nutrients and specialty chemicals. It also provides research and development services, such as target discovery, molecule design, library synthesis, lead optimization, biological evaluation, and route synthesis. In addition, the company offers custom synthesis and manufacturing solutions, including process research and development, analytical method development, synthesis of reference standards, structure elucidation and synthesis of impurities, physio-chemical studies and 5-batch analysis under GLP conditions, scale-up studies, safety data generation, waste categorization and treatability studies, process/plant engineering, and large-scale commercial production; and distribution services. The company sells its products to farmers, distributors, retailers, and sellers. It also exports its products. PI Industries Limited was incorporated in 1946 and is based in Gurugram, India.
- Sector
- Materials
- Shares outstanding
- 15.2 Cr shares
- ISIN
- INE603J01030
- BSE code
- 523642
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹49,585 Cr
- P/E
- 28.1x
- P/B
- 4.5x
- EV / EBITDA
- 21.5x
- EV / Sales
- 6.8x
- P/S
- 6.9x
- Earnings yield
- 3.6%
- 52-week high
- ₹3,818.65
- 52-week low
- ₹2,011.00
Profitability
- Operating margin
- 28.5%
- Net margin
- 24.2%
- EBITDA margin
- 31.6%
- ROE
- 19.9%
- ROCE
- 23.4%
- ROA
- 16.9%
- Dividend payout
- 13.0%
- Tax rate
- 13.0%
- Other income, % of PBT
- 11.2%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹7,571 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 6.0%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 16.7%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹2,261 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 34.5%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 7.8%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 31.4%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹2,099 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 39.7%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹308 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 22.7%
Solvency and efficiency
- Current ratio
- 4.91
- Debt / Equity
- 0.01
- Debt / Assets
- 0.00
- Debt / EBITDA
- 0.02
- Interest coverage
- 101.90
- Financial leverage
- 1.18
- CFO / Net profit
- 1.21
- Cash / Market cap
- 9.9%
- Cash per share
- ₹324.43
- Asset turnover
- 0.70
- Fixed asset turnover
- 2.71
- Capital intensity
- 0.37
- Debtor days
- 36 days
- Inventory turnover
- 3.07
- Cash conversion cycle
- 36 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹25 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹5,182 Cr |
| Sales | Operating profit | ₹2,389 Cr |
| Operating profit | Interest | ₹28 Cr |
| Operating profit | Depreciation | ₹263 Cr |
| Operating profit | Profit before tax | ₹2,098 Cr |
| Other income | Profit before tax | ₹297 Cr |
| Profit before tax | Tax and other | ₹530 Cr |
| Profit before tax | Net profit | ₹1,866 Cr |
Revenue and net profit
Revenue grew 6.0% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹4,361 Cr | ₹710 Cr |
| FY2022 | ₹5,077 Cr | ₹820 Cr |
| FY2023 | ₹6,270 Cr | ₹1,211 Cr |
| FY2024 | ₹7,145 Cr | ₹1,731 Cr |
| FY2025 | ₹7,571 Cr | ₹1,866 Cr |
Cash flows
FY2025: ₹1,478 Cr from operations, -₹58.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹772 Cr | -₹1,698 Cr |
| FY2022 | ₹485 Cr | ₹381 Cr |
| FY2023 | ₹1,502 Cr | ₹926 Cr |
| FY2024 | ₹2,099 Cr | ₹166 Cr |
| FY2025 | ₹1,478 Cr | -₹58 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹7,571 Cr+6.0%1Y
- Net profit
- ₹1,866 Cr+7.8%1Y
- Cash from operations
- ₹1,478 Cr
- Free cash flow
- -₹58 Cr-134.9%1Y
- Revenue CAGR, 5Y
- 16.7%
- EBITDA CAGR, 5Y
- 24.8%
- Net profit CAGR, 5Y
- 31.4%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹7,571 Cr | ₹2,389 Cr | — | ₹1,866 Cr | ₹1,478 Cr | -₹58 Cr | 18.1% | +6.0% | +7.8% |
Monthly returns
Month-by-month returns of PIIND across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹11,919 Cr |
| Equity capital | ₹15 Cr |
| Reserves | ₹10,288 Cr |
| Borrowings | ₹52 Cr |
| Other liabilities | ₹1,564 Cr |
| Assets | ₹11,919 Cr |
| Fixed assets | ₹2,950 Cr |
| Capital work in progress | ₹444 Cr |
| Investments | ₹3,269 Cr |
| Other assets | ₹5,257 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
PIIND trades at 28.1x earnings against a peer median of 35.5x (a 21% discount).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| PI Industries LimitedPIINDthis companyP/E ↓ discount | ₹49,585 Cr | 28.1x | 4.5x | 19.9% | 21.5x |
| UPL LimitedUPL | ₹65,214 Cr | 60.4x | 4.8x | 16.0% | 42.4x |
| Jindal Stainless LimitedJSL | ₹64,789 Cr | 24.0x | 3.7x | 18.5% | 14.8x |
| Steel Authority of India Ltd.SAIL | ₹61,020 Cr | 23.1x | 1.1x | 5.0% | 7.5x |
| Hindustan Copper Ltd.HINDCOPPER | ₹52,185 Cr | 91.0x | 17.4x | 12.9% | 86.8x |
| Linde India LimitedLINDEINDIA | ₹51,732 Cr | 102.0x | 13.1x | — | — |
| J.K. CEMENT LTDJKCEMENT | ₹44,693 Cr | 40.9x | 6.9x | 15.5% | 23.0x |
| DALMIA BHARAT LIMITEDDALBHARAT | ₹39,489 Cr | 301.0x | 5.1x | 1.4% | 298.5x |
| Gujarat Fluorochemicals LimitedFLUOROCHEM | ₹37,983 Cr | 54.3x | 5.6x | 7.1% | 41.5x |
| Peer median | — | 35.5x | 3.7x | 12.9% | 19.2x |
Year-to-date ROI
PIIND since 1 January, against earlier years.
Historical volatility
PIIND's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 23.0% |
| FY2022 | 22.0% |
| FY2023 | 24.0% |
| FY2024 | 29.0% |
| FY2025 | 32.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹7,571 Cr |
| Costs | |
| Interest | ₹28 Cr |
| Expenses | ₹5,182 Cr |
| Operating profitOperating Profit | ₹2,389 Cr |
| Other income and charges | |
| Profit before tax | ₹2,396 Cr |
| Tax | |
| Net profitNet Profit | ₹1,866 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹11,919 Cr |
| Equity capitalEquity Capital | ₹15 Cr |
| Reserves | ₹10,288 Cr |
| Borrowings | ₹52 Cr |
| Other liabilitiesOther Liabilities | ₹1,564 Cr |
| AssetsTotal Assets | ₹11,919 Cr |
| Fixed assetsFixed Assets | ₹2,950 Cr |
| Capital work in progressCWIP | ₹444 Cr |
| Investments | ₹3,269 Cr |
| Other assetsOther Assets | ₹5,257 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹1,478 Cr |
| Investing cash flowCash from Investing Activity | -₹1,536 Cr |
| Financing cash flowCash from Financing Activity | -₹251 Cr |
| Change in cashNet Cash Flow | -₹308 Cr |
Learn while you research
Academy chapters picked for PI Industries Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 04 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 05 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read