PI Industries Ltd — earnings calls
2 quarters summarised from transcripts filed with the exchange, every statement cited. Newest first.
PI Industries reported Q1 FY27 revenue of Rs. 17,023 million with a gross margin of 57% and EBITDA margin of 22%, as domestic volumes grew 12% while export revenue declined amid soft commodity prices and pricing pressure. Biologicals grew 50% year-on-year with a three-year CAGR of 15%, while the pharma and global biologicals businesses continued to post losses tied to upfront investment. Management reiterated capex guidance of Rs. 700-800 crore for the year and said it expects FY27 to be better than FY26, driven by an export recovery in the second half.
PI Industries reported consolidated FY26 revenue of Rs 67,137 million with EBITDA margins of 25% and a cash balance of Rs 34,265 million, while Q4 FY26 revenue was Rs 15,652 million, showing sequential growth. Management said the pharma business grew 40% for the full year and that new products contributed 18% of AgChem exports, while domestic agrochemical demand remained impacted by channel inventory, pricing pressure and lower crop acreages. Management said it expects growth in FY27 supported by export recovery, new product launches including the NCE Pioxaniliprole, and continued scale-up of pharma and biologicals.