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PI Industries (PIIND) investor relations material
PI Industries Q1 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q1 FY26 performance aligned with H2-weighted plan; revenue reached ₹19,005 million, EBITDA ₹5,219 million, and PAT ₹4,000 million, all showing double-digit 3-year CAGR growth.
Commercialized 2 new export and 2 domestic agri products; new agchem exports grew 46% year-over-year; India's first discovery molecule filed for registration.
Pharma business revenue surged 186–187% year-over-year, driven by new client additions and platform development.
Strategic investments continue in R&D, technology, and capacity expansion, including global biologicals and electronic chemicals.
Board approved unaudited financial results for Q1 FY26, with no material misstatements identified by auditors.
Financial highlights
Q1 FY26 consolidated revenue was ₹19,005 million, down 8% year-over-year but up 7% sequentially; 3-year Q1 CAGR at 7%.
Gross margin expanded to 57–57.4%, up 5–5.7 percentage points year-over-year; EBITDA margin at 27–27.5%.
Net worth increased to ₹106,003 million; net cash balance at ₹41,554 million.
Standalone and consolidated net profit declined year-over-year; consolidated PAT was ₹4,000 million.
Working capital days rose to 91 from 73 in March 2025; order book stands at $1.2 billion.
Outlook and guidance
H2 expected to drive single-digit revenue growth for FY26 with sustained EBITDA margin.
Gross margin guidance at 50–52%, EBITDA margin at 25–27%.
Pharma business on track for 75% revenue growth in FY26 with improved margins.
CapEx guidance for FY26 is ₹700–800 crore; effective tax rate expected at 22–23%.
Biologicals business expected to revive post regulatory clearance; cautious optimism amid inventory destocking and US tariff uncertainties.
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