PI Industries Ltd (BOM:523642)

Q1 2027 PI Industries Ltd Earnings Call Transcript

Aug 12, 2026 / 06:30 AM GMT

Release Date Price: ₹2483 (-9.54%)

Transcript

Key Points

Positve

PI Industries Ltd (BOM:523642) delivered a 12% volume growth in the domestic market despite a challenging operating environment, translating into a 3% revenue growth.
The company's biologicals segment showed aggressive growth of 50% in Q1 FY27, with a three-year CAGR of 15%.
PI Industries Ltd (BOM:523642) maintained a healthy gross margin of 57% and reported a strong EBITDA margin of 22% while continuing to invest in future growth platforms.
The company achieved an impressive reduction of 19 days in net working capital, releasing INR 300 crores of cash, and maintains a strong debt-free balance sheet with net cash of INR 38 billion.
PI Industries Ltd (BOM:523642) is making progress in its pharma CRDMO transformation, with early positive signs, including a couple of inquiries moving into the commercial phase and the commissioning of a regulator-approved QC lab in Italy.
The company's new molecule, Pyaxaniliprol, is set to launch in the domestic market soon, marking a significant milestone as the first insecticide discovered in India for Indian farmers, with potential for global expansion.

Negative

PI Industries Ltd (BOM:523642) faced a challenging operating environment in Q1 FY27, with soft commodity prices and muted recovery in crop economics exerting pressure on growth and pricing.
The export business experienced a volume decline of 8% and a value decline of 12%, reflecting the contraction of the global crop protection industry.
The company's domestic business was impacted by El Nino, strong heatwaves, delayed sowings, and high levels of inventories from prior years, affecting replacement sales of chemicals.
PI Industries Ltd (BOM:523642) is experiencing pricing pressure across the agrochemical industry due to a challenged demand cycle and rising input costs, which is squeezing margins.
The company's new initiatives, including pharma and global biologicals, are incurring significant upfront investments and losses, with subsidiary EBITDA losses of around INR 100 crores in the quarter, and these investments are expected to continue for several quarters.
The pharma business is experiencing delays in its order book, with some deliveries pushed to the next quarter, reflecting the volatility and long gestation period of the CRDMO business.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PIIL.NS - PI Industries Limited
Q1 2027 PI Industries Ltd Earnings Call
Aug 12, 2026 / 06:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the PI Industries Q1 FY27 earnings conference call.

As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal an operator by pressing then 0 on your touchtone phone.

Please note that this conference is being recorded.

I now hand the conference over to Mr. Nishit Solakki from CDR.

Thank you and over to you sir.

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Unidentified_2 [2]
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