PI Industries shares fell 15 per cent to a 52-week low on Thursday, November 5, after the company reported a 70 per cent drop in Q2 profit. Profit fell to Rs 122.2 crore from Rs 409.3 crore last year. Higher input costs and pricing pressure hurt the company’s operating margins.
The company's profit for the period fell to Rs 122.2 crore in Q2, compared with Rs 409.3 crore in the same quarter last year. Image: Official Website
PI Industries Q2 Results: Shares of PI Industries Ltd fell sharply on Thursday, November 5, after the pesticides and agrochemicals company reported a steep decline in its September quarter profit. The stock dropped around 15 per cent to hit a fresh 52-week low, with investors reacting to the fall in profit and pressure on operating margins.
At 1:12 pm, PI Industries shares were trading at Rs 1,844.80 on the NSE, down Rs 342.20 or 15.65 per cent. The stock opened at Rs 2,057.20 and touched an intraday high of Rs 2,077.70. It also hit a low of Rs 1,791, which is its 52-week low. The stock's 52-week high stands at Rs 3,832.90.
PI Industries Q2 results 2026
PI Industries announced its second-quarter results on Wednesday, November 4, after market hours. In a regulatory filing, the company said its board approved the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026.
The company's profit for the period fell to Rs 122.2 crore in Q2, compared with Rs 409.3 crore in the same quarter last year, marking a decline of around 70 per cent year-on-year.
Revenue from operations declined 9.1 per cent to Rs 1,701.8 crore from Rs 1,872.3 crore in the year-ago quarter. Total income also fell 9.8 per cent to Rs 1,762.9 crore from Rs 1,954.8 crore.
PI Industries EBITDA and margin performance
The company's operating performance also remained under pressure. Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 57 per cent year-on-year to Rs 232.7 crore.
EBITDA margin stood at 13.7 per cent, down 1,524 basis points year-on-year. The company said margins were affected by higher input costs and pricing pressure due to El Nino and genericisation.
PI Industries, in an exchange filing, said higher input costs impacted gross margins by around 5 per cent. Pricing pressure due to El Nino and genericisation also affected profitability.
Overheads increased due to continued investments in the development of new businesses and research and development. The company reported a 6 per cent impact from new business development investments, 2 per cent from R&D, 1 per cent from new molecule launch expenses and 3 per cent from higher energy costs.
Agchem exports decline 18%; domestic revenue grows
PI Industries reported an around 18 per cent decline in agrochemical exports during the quarter. The company attributed the decline to lower demand, genericisation and pricing pressure.
It said its focus is on volume growth after genericisation through price optimisation. The company also said it has not actively passed on cost escalation under the current market conditions.
On the domestic front, revenue grew around 19 per cent. The biologicals business recorded growth of more than 45 per cent, while global biologicals grew by over 250 per cent.
The company is also expanding its crop reach and product portfolio. Its Health Sciences revenue increased 20 per cent during the quarter. PI Industries also commenced commercial GMP manufacturing of Galidesivir API.
The company said it is expanding its channels and product portfolio in the US, Brazil and Mexico. It is also investing in product development through on-field trials and customer connect.