PI Industries (PIIND) Q4 24/25 earnings summary

Executive summary

• Achieved 4% consolidated revenue growth and 8% EBITDA growth in FY25, with standalone revenue up 6% and EBIT up 17%.

• Domestic branded business grew 21% in Q4 and 6% for the year, while biologicals posted 20% annual growth and a five-year target to increase revenue fivefold.

• Pharma business saw 33% sequential Q4 growth but remains loss-making at the EBITDA level.

• Commercialized 13 new products (6 exports, 7 domestic) in FY25, with new products contributing 15–18% of ag chem exports.

• Board approved audited results, recommended a total FY25 dividend of Rs. 16 per share, and announced key management appointments.

Financial highlights

• FY25 consolidated revenue was Rs 79,778 million, up from Rs 76,658 million; standalone revenue was Rs 75,712 million, up from Rs 71,454 million.

• FY25 consolidated EBITDA grew 8% to Rs 21,833 million; standalone EBITDA up 17%.

• Consolidated PAT for FY25 was Rs 16,602 million, marginally down 1% year-over-year; standalone PAT was Rs 18,665 million.

• Net worth increased to Rs 111,170 million; net cash balance at Rs 40,926 million.

• Final dividend for FY25 declared at Rs 10 per share, total Rs 16 per share including interim dividend.

Outlook and guidance

• Targeting mid-single-digit revenue growth for FY26, with improvement in H2 as global headwinds ease.

• EBITDA margin guidance maintained at ~25% for FY26.

• CapEx guidance for FY26: Rs 8,000–9,000 million, with similar allocation as FY25.

• Pharma business targeted for >75% revenue growth in FY26, but breakeven expected over the next few years.

• Effective tax rate expected at 22–23% for the next 2–3 years.