P I Industries Ltd

P I Industries Ltd

₹ 2,703 -2.61%
01 Jun - close price
About

PI Industries Ltd is a leading player in the agro-chemicals space having strong presence in both Domestic and Export markets. It has state-of-art facilities in Gujarat having integrated process development teams with in-house engineering capabilities.[1]

Key Points

Market Leadership:[1][2]
The company is a player in CSM exports and the domestic agricultural inputs sector, primarily agrochemicals and
plant nutrients. It is amongst the top 5 global CSM players
in AgSciences and was the first to enter agchem CSM and pioneered biological solutions in India.

  • Market Cap 40,847 Cr.
  • Current Price 2,703
  • High / Low 4,330 / 2,691
  • Stock P/E 26.5
  • Book Value 749
  • Dividend Yield 0.59 %
  • ROCE 17.8 %
  • ROE 14.2 %
  • Face Value 1.00

Pros

  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of 7.23% over past five years.
  • Debtor days have increased from 57.8 to 80.0 days.
  • Working capital days have increased from 98.9 days to 199 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,506 1,829 1,969 1,721 1,626 2,012 2,131 1,780 1,648 1,769 1,753 1,270 1,391
1,172 1,354 1,415 1,177 1,173 1,381 1,446 1,235 1,144 1,195 1,146 900 1,006
Operating Profit 334 475 553 544 453 631 685 545 504 574 607 370 385
OPM % 22% 26% 28% 32% 28% 31% 32% 31% 31% 32% 35% 29% 28%
53 47 56 65 56 69 90 73 68 80 80 56 -41
Interest 2 2 2 2 4 2 1 2 2 2 1 3 2
Depreciation 56 59 63 62 62 65 66 67 65 71 72 78 85
Profit before tax 328 462 545 545 443 634 708 548 506 582 615 345 258
Tax % 15% 14% 15% 11% 13% 21% 21% 23% 24% 20% 20% 18% 23%
279 395 464 486 384 498 558 424 386 464 491 282 198
EPS in Rs 18.42 26.05 30.62 32.07 25.34 32.85 36.81 27.93 25.43 30.60 32.37 18.56 13.04
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,940 2,096 2,276 2,277 2,841 3,307 4,361 5,077 6,270 7,145 7,571 6,183
1,560 1,663 1,724 1,782 2,264 2,606 3,370 3,962 4,748 5,107 5,182 4,247
Operating Profit 379 433 552 495 576 701 991 1,114 1,522 2,038 2,389 1,936
OPM % 20% 21% 24% 22% 20% 21% 23% 22% 24% 29% 32% 31%
34 33 36 60 59 47 117 100 159 223 297 175
Interest 12 12 9 8 8 20 34 15 38 20 28 7
Depreciation 49 54 73 83 93 133 172 198 222 246 263 305
Profit before tax 353 401 506 464 535 594 902 1,000 1,422 1,995 2,396 1,799
Tax % 31% 23% 10% 21% 24% 26% 21% 18% 15% 13% 22% 20%
243 310 457 367 408 442 710 820 1,211 1,731 1,866 1,435
EPS in Rs 17.81 22.58 33.24 26.58 29.54 32.03 46.83 54.03 79.85 114.07 123.02 94.57
Dividend Payout % 14% 14% 12% 15% 14% 12% 11% 11% 13% 13% 13% 16%
Compounded Sales Growth
10 Years: 11%
5 Years: 7%
3 Years: 0%
TTM: -18%
Compounded Profit Growth
10 Years: 17%
5 Years: 17%
3 Years: 8%
TTM: -18%
Stock Price CAGR
10 Years: 15%
5 Years: 0%
3 Years: -8%
1 Year: -29%
Return on Equity
10 Years: 18%
5 Years: 18%
3 Years: 18%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 14 14 14 14 14 14 15 15 15 15 15 15
Reserves 869 1,141 1,595 1,898 2,261 2,577 5,271 6,024 7,082 8,666 10,288 11,354
115 151 120 84 49 519 370 305 33 44 52 65
624 629 554 619 821 997 1,308 1,285 1,206 1,502 1,564 1,535
Total Liabilities 1,621 1,935 2,283 2,615 3,145 4,106 6,965 7,628 8,336 10,227 11,919 12,969
530 872 943 996 1,184 1,668 2,118 2,423 2,513 2,634 2,950 3,490
CWIP 133 71 77 90 183 270 288 114 130 221 444 614
Investments 2 1 84 161 123 454 1,012 1,036 1,169 2,448 3,269 3,256
956 990 1,179 1,368 1,655 1,715 3,548 4,055 4,524 4,924 5,257 5,609
Total Assets 1,621 1,935 2,283 2,615 3,145 4,106 6,965 7,628 8,336 10,227 11,919 12,969

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
181 366 337 314 385 661 772 485 1,502 2,099 1,478 694
-146 -298 -236 -182 -320 -962 -2,470 -104 -576 -1,933 -1,536 -680
-50 -48 -50 -100 -122 350 1,689 -175 -430 -205 -251 -256
Net Cash Flow -16 20 50 32 -56 49 -9 207 495 -39 -308 -242
Free Cash Flow 13 47 196 145 17 -8 335 150 1,201 1,622 772 -268
CFO/OP 79% 106% 83% 83% 87% 109% 94% 59% 115% 120% 78% 54%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 72 69 68 84 85 61 54 57 40 36 58 80
Inventory Days 130 124 136 141 126 145 152 175 144 119 85 147
Days Payable 122 115 90 116 121 112 118 116 89 119 112 119
Cash Conversion Cycle 80 78 113 110 90 94 89 116 95 36 31 108
Working Capital Days 43 54 72 89 92 59 66 90 66 38 60 199
ROCE % 41% 36% 34% 25% 25% 23% 21% 17% 22% 25% 25% 18%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2025
Number of Multi-Purpose Plants (MPPs)
Number

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Number of Scientists / Researchers
Number
CSM (Custom Synthesis & Manufacturing) Order Book Value
USD Billion
New Molecules / Products Commercialized (Total Yearly)
Number
Size of Distribution Network (Distributors)
Number
Cumulative Patents Filed
Number
R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
46.08% 46.09% 46.09% 46.09% 46.09% 46.09% 46.09% 46.09% 46.09% 46.09% 46.09% 46.09%
19.17% 20.01% 20.41% 20.26% 18.76% 19.02% 18.46% 18.06% 16.98% 16.42% 15.97% 15.87%
23.80% 23.11% 23.00% 24.18% 25.84% 26.21% 27.07% 27.43% 29.21% 30.26% 30.94% 31.20%
0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15%
10.77% 10.61% 10.34% 9.29% 9.14% 8.54% 8.23% 8.28% 7.58% 7.09% 6.85% 6.69%
0.03% 0.02% 0.02% 0.02% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
No. of Shareholders 1,41,0921,58,2681,84,5151,57,9911,56,7901,50,1901,57,9931,67,2651,50,4011,37,9321,34,8601,33,299

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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