MarketFriction

P I Industries Ltd

NSE PIIND · BSE 523642 · Pesticides & Agrochemicals
₹2,236.00 -3.20%
NSE close2026-10-01
52 week range2,191.00 - 3,832.90
Market cap₹34,725 Cr.
P/E32.2
Nifty 200Nifty 500Nifty Midcap 100Midcap 150 No price band Delivery 45.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,1171,8981,7412,0692,2211,9011,7871,9001,8721,3761,5651,702
Expenses1,5661,3441,2991,4861,5931,3891,3321,3811,3311,0731,2281,335
Operating Profit551554442583628512456519541302337367
OPM %26%29%25%28%28%27%25%27%29%22%22%22%
Other Income49586075123767589851727466
Interest8711888843648
Depreciation807880838099909698105107104
Profit before tax512526411566663481432507525363300322
Tax %6%15%10%21%23%22%24%21%22%14%33%24%
Net Profit480449370449508373330400409311200244
EPS in Rs31.6729.5724.3529.5833.5024.5721.7826.3626.9820.5213.2016.10
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,0962,2772,2772,8413,3664,5775,3006,4927,6667,9786,7146,516
Expenses1,6611,7221,7812,2612,6473,5594,1544,9485,6365,7724,9824,968
Operating Profit4355554965807201,0181,1461,5442,0302,2061,7321,548
OPM %21%24%22%20%21%22%22%24%26%28%26%24%
Other Income3436605850129105166216345414397
Interest129771934163944564320
Depreciation54738393137175202226308352407414
Profit before tax4035104665386149381,0331,4441,8952,1421,6961,510
Tax %23%10%21%24%26%21%18%15%11%22%22%
Net Profit3124593684104577388441,2301,6821,6601,3211,165
EPS in Rs22.7233.3926.6629.7233.0648.6655.6281.04110.83109.4387.0676.80
Dividend Payout %14%12%15%13%12%10%11%12%14%15%17%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth12%8%1%-17%
Compounded Profit Growth14%10%-1%-33%
Stock Price CAGR11%-6%-13%-35%
Return on Equity17%16%16%11%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital141414141414151515151515
Reserves8831,1571,6131,9112,2722,6055,3276,1057,1838,71610,14211,215
Borrowings115151120834951937331646191184342
Other Liabilities6226265546188201,0871,2871,3541,2351,8221,9081,832
Total Liabilities1,6331,9492,3012,6263,1554,2257,0027,7918,48010,74412,24913,405
Fixed Assets5338749459981,1861,8582,1382,4522,6063,5284,2094,620
CWIP1337177901832712881141322785501,030
Investments10831611291508729001,0161,3361,5311,360
Other Assets9671,0031,1961,3781,6571,9463,7044,3254,7265,6015,9596,395
Total Assets1,6331,9492,3012,6263,1554,2257,0027,7918,48010,74412,24913,405
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1843673393193916987255291,5012,0361,413474
Cash from Investing Activity-146-303-235-180-322-985-2,430-110-496-1,800-1,421-612
Cash from Financing Activity-53-48-53-106-1253501,690-177-483-222-286-171
Net Cash Flow-15165033-5663-1524152214-294-309
Free Cash Flow164819815023292871921,1791,417575-632
CFO/OP79%106%83%84%88%112%87%61%114%119%81%48%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days726968848570566043446488
Inventory Days12412413614112615814917814412495157
Days Payable1161159011512111711311586119117125
Cash Conversion Cycle807811311090111931221014942119
Working Capital Days4354728987707293704867120
ROCE %41%36%34%25%25%23%22%17%22%24%23%15%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters46.09%46.09%46.09%46.09%46.09%46.09%46.09%46.09%46.09%46.09%46.09%46.09%
FIIs20.01%20.41%20.26%18.76%19.02%18.46%18.06%16.98%16.42%15.97%15.87%14.83%
DIIs23.11%23.00%24.18%25.84%26.21%27.07%27.43%29.21%30.26%30.94%31.20%31.50%
Government0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%
Public10.61%10.34%9.29%9.14%8.54%8.23%8.28%7.58%7.09%6.85%6.69%7.44%
Others0.02%0.02%0.02%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
No. of Shareholders1,58,2681,84,5151,57,9911,56,7901,50,1901,57,9931,67,2651,50,4011,37,9321,34,8601,33,2991,40,999

Fundamentals

Market Cap₹ 34,725 Cr.
Current Price₹ 2,289
Stock P/E32.2
Book Value₹ 740
ROCE15.0 %
ROE11.2 %
Dividend Yield0.66 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-17%
Compounded Profit Growth (TTM)-33%
Consolidated figures.
Valuation
Market capRs 33,924 Cr
Enterprise valueRs 32,084 Cr
P/E (TTM)29.12x
Price to book3.02x
Price to sales5.21x
EV / EBITDA16.50x
EV / EBIT20.96x
EV / sales4.92x
Price to cash flow71.57x
Earnings yield3.43%
Dividend yield0.67%
P/E, 3-year average32.51x
P/B, 3-year average5.18x
P/E, 5-year average37.15x
P/B, 5-year average5.78x
Profitability
Operating margin (excl. other income)25.80%
Operating margin (incl. other income)31.96%
EBITDA margin29.85%
Pre-tax margin23.18%
Net profit margin17.88%
Net margin, latest quarter14.35%
ROE12.35%
ROCE15.87%
ROA10.30%
ROE, 3-year average17.01%
ROCE, 3-year average20.89%
ROA, 3-year average14.08%
ROE, 5-year average16.85%
ROCE, 5-year average20.32%
ROA, 5-year average13.75%
ROIC (approx.)12.70%
Tax rate22.13%
Other income / net worth3.68%
Growth
Sales growth (latest year)-15.85%
Profit growth (latest year)-20.44%
Sales CAGR, 3 years1.13%
Sales CAGR, 5 years7.96%
Profit CAGR, 3 years2.42%
Profit CAGR, 5 years12.34%
Sales growth QoQ8.76%
Profit growth QoQ21.98%
Sales growth YoY (latest quarter)-10.43%
Profit growth YoY (latest quarter)-38.95%
Per share
EPS (TTM)Rs 76.79
EPS (latest year)Rs 87.06
EPS (latest quarter)Rs 16.10
EPS, 3-year averageRs 102.35
EPS, 5-year averageRs 88.71
Book value per shareRs 740.22
Sales per shareRs 429.45
Cash flow per shareRs 31.24
Free cash flow per shareRs -41.66
Dividend per share (latest year)Rs 15.03
Dividend per share, 3-year averageRs 15.35
Dividend per share, 5-year averageRs 12.41
Dividends
Dividend payout17.26%
Dividend payout, 3-year average15.16%
Dividend payout, 5-year average13.73%
Efficiency
Asset turnover0.50x
Fixed asset turnover1.45x
Inventory turnover2.70x
Inventory days135 days
Debtor days88 days
Debtors turnover4.17x
Creditor days125 days
Cash conversion cycle119 days
Working capital days120 days
Leverage
Total debtRs 342 Cr
Cash and bankRs 2,182 Cr
Net debtRs -1,840 Cr
Debt to equity0.03x
Net debt / EBITDA-0.95x
Interest coverage75.04x
Current ratio (filing 2026-03-31)4.22x
Quick ratio (filing 2026-03-31)3.53x
Trade payables (filing 2026-03-31)Rs 974 Cr
Owners' fund to total sources83.78%
Debt to assets2.55%
Cash flow
Cash from Operating Activity (latest year)Rs 474 Cr
Cash from Investing Activity (latest year)Rs -612 Cr
Cash from Financing Activity (latest year)Rs -171 Cr
Net Cash Flow (latest year)Rs -309 Cr
Free cash flow (latest year)Rs -632 Cr
FCFE (approx.: FCF + change in debt)Rs -474 Cr
Cash from ops / profit, 5 years0.88x
Sales to cash flow14.16x
Statement figures
Net sales (TTM)Rs 6,516 Cr
Net sales (latest year)Rs 6,714 Cr
Sales (latest quarter)Rs 1,702 Cr
Operating profit excl. other income (latest year)Rs 1,732 Cr
Operating profit (latest quarter)Rs 367 Cr
Other income (TTM)Rs 397 Cr
EBITDA (TTM)Rs 1,945 Cr
PBDT (TTM)Rs 1,924 Cr
Profit before tax (TTM)Rs 1,510 Cr
Tax (latest year)Rs 375 Cr
Net profit (TTM)Rs 1,165 Cr
Net profit (latest year)Rs 1,321 Cr
Net profit (latest quarter)Rs 244 Cr
Depreciation (TTM)Rs 414 Cr
Depreciation (latest quarter)Rs 104 Cr
Interest (TTM)Rs 20 Cr
Cost of goods sold (latest year)Rs 3,285 Cr
Total expenditure (latest year)Rs 4,982 Cr
Total income (latest year)Rs 7,127 Cr
Share capitalRs 15 Cr
ReservesRs 11,215 Cr
Shareholders' fundsRs 11,230 Cr
Total assetsRs 13,405 Cr
Net blockRs 4,620 Cr
Capital work in progressRs 1,030 Cr
InvestmentsRs 1,360 Cr
ReceivablesRs 1,611 Cr
InventoryRs 1,217 Cr
Other liabilitiesRs 1,832 Cr
Shares outstanding (crore)15.17
Ownership
Promoter holding46.09% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 29.1 is at the 9th percentile of its own 9.4-year range (median 43.1, low 23.8, high 86.9).
P/B 3.02 is the lowest in 9.4 years (median 7.70).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodPIINDNifty 50Difference
1 week-6.6%-2.8% -3.8 pts
1 month-6.7%-6.8% +0.1 pts
3 months-15.5%-7.6% -7.9 pts
6 months-17.8%+0.4% -18.2 pts
1 year-37.4%-9.9% -27.5 pts
2 years-52.3%-13.6% -38.8 pts
3 years-35.2%+14.2% -49.4 pts
5 years-27.9%+27.9% -55.8 pts
155 mutual fund schemes hold about ₹8,698 Cr. Over three months 91 bought more and 22 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Kotak Mid Cap Fund1.03%737 +4%
SBI Large Cap Fundd0.98%538 +10%
ICICI Pru India Opp Fund1.24%477 +6%
ICICI Pru Balanced Advantage Fund(M0.61%461 +6%
ICICI Pru Large & Mid Cap Fund1.37%460 +9%
Mirae Asset Large & Midcap Fund0.95%435 +22%
Axis ELSS-Tax Saver Fund1.25%408 +7%
SBI Midcap Fund1.45%356 +25%
SBI Midcap Fund1.45%353 +25%
Mirae Asset Midcap Fund1.58%330 +24%
ICICI Pru Flexi Cap Fund1.10%284 -5%
Tata Large & Mid Cap Fund3.27%251 +13%
ICICI Pru Multi Asset Allocation Fund0.27%237 -13%
UTI Flexi Cap Fund0.73%176 +4%
Axis Midcap Fund0.48%166 -19%
Kotak Multi Cap Fund0.55%161 +14%
DSP Midcap Fund0.75%158 +5%
ICICI Pru ELSS-Tax Saver Fund0.99%141 +8%
ICICI Pru Aggressive Hybrid Fund(A0.27%141 +8%
DSP Large & Mid Cap Fund0.76%141 +21%
ICICI Pru Manufacturing Fund1.90%137 +10%
Mirae Asset ELSS Tax Saver Fund0.44%115 +100%
Aditya Birla SL Large Cap Fund0.34%101 +7%
Aditya Birla SL Flexi Cap Fund0.32%93 +1%
Franklin India Mid Cap Fund0.68%89 +5%

Red flags

F-score 3 of 8
explainReceivables outrunning sales Receivables grew 15% vs sales -16% in 2026
explainDebt up, profit down Borrowings up 86% while net profit fell in 2026
lookInventory outrunning sales Inventory grew 24% vs sales -16% in 2026
lookAuditor change Auditor change 2026-05-19: PI Industries Limited has informed the Exchange regarding Change in Auditors of the company.
lookRegulator order or action Regulator order or action 2026-01-06: PI Industries Limited has informed the Exchange about Action(s) taken or orders passed-regarding order issued by the Office of Excise and Ta
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2025-06-13BhavinaImmediate relativesell300Rs 0.12 CrMarket Sale
2025-02-13Mahaveer Singh RathoreEmployees/Designated Employebuy150Rs 0.05 CrMarket Purchase
2025-02-11Mahaveer Singh RathoreEmployees/Designated Employebuy150Rs 0.05 CrMarket Purchase
2024-12-17Mr. Narayan K SeshadriDirectorsell6,980Rs 2.74 CrMarket Sale
2024-09-23Salil SinghalPromotersother12,300,364Rs 1.23 CrGift
2024-09-23RCANE FAMILY TRUSTPromoter Groupother6,150,182Rs 0.62 CrGift
2024-09-23DOMANE FAMILY TRUSTPromoter Groupother6,150,182Rs 0.62 CrGift
2024-09-23ALPHA FAMILY TRUSTPromoter Groupother6,150,000Rs 0.61 CrGift
2024-09-23BETA FAMILY TRUSTPromoter Groupother6,150,000Rs 0.61 CrGift
2024-09-23Madhu SinghalPromotersother12,300,000Rs 1.23 CrGift
2024-09-20Bini Lal ShandilyaEmployees/Designated Employesell200Rs 0.10 CrMarket Sale
2024-09-10Bini Lal ShandilyaEmployees/Designated Employesell300Rs 0.14 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹1,702 Cr -10.4% vs Jun 2025. Net profit ₹244 Cr -39.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-07Dividend - Rs 10 Per Share
2026-02-23Interim Dividend - Rs 5 Per Share
2025-08-07Dividend - Rs 10 Per Share
2025-02-14Interim Dividend - Rs 6 Per Share
2024-08-20Dividend - Rs 9 Per Share
2024-08-20Annual General Meeting
2024-02-21Interim Dividend - Rs 6 Per Share
2023-08-11Annual General Meeting/Dividend - Rs 5.50 Per Share
2023-02-24Interim Dividend - Rs 4.5 Per Share
2022-08-25Annual General Meeting/Dividend - Rs 3 Per Share
2022-02-14Interim Dividend - Rs 3 Per Share
2021-09-06 Annual General Meeting/Dividend - Rs 2 Per Share
2021-02-11 Interim Dividend - Rs 3 Per Share
2020-09-17 Annual General Meeting/Dividend - Re 1 Per Share
2020-02-24 Interim Dividend - Rs 3 Per Share
2019-08-29 Annual General Meeting/Dividend - Rs 1.5 Per Share
2018-11-09 Interim Dividend - Rs 2.50 Per Share
2018-07-30 Annual General Meeting/Dividend- Rs 2.50 Per Share
2017-11-09 Interim Dividend - Rs 1.50 Per Share
2017-08-30 Annual General Meeting/Dividend - Rs 2.50 Per Share
2016-11-16 Interim Dividend Rs 1.50 Per Share (Record Date Revised)
2016-08-31 Annual General Meeting
2016-03-22 Interim Dividend - Rs 1.90/- Per Share (Purpose Revised)
2015-11-17 Interim Dividend - Rs 1.20/- Per Share
2015-09-08 Annual General Meeting/ Dividend - Rs 1.30/- Per Share
2014-11-13Interim Dividend - Rs 1.20/- Per Share
2014-09-03Annual General Meeting / Final Dividend - Re 1/- Per Share
2014-02-21Interim Dividend Re 0.50/- Per Share
2013-08-19Annual General Meeting/Final Dividend Re.1/- Per Share And Interim Dividend Re.0.50 Per Share (Purpose Revised)
2013-04-12Face Value Split From Rs.5/- Per Share To Re.1/- Per Share0.2000
2012-09-05Annual General Meeting/ Dividend Rs. 3 Per Share
2011-11-17Interim Dividend Rs.2/- Per Share
2011-08-17Face Value Split From Rs.10/- To Rs.5/-0.5000
2011-07-08Annual General Meeting And Dividend Rs.4/- Per Share
DateTypeWhat it says
2026-09-21Product launchProduct launch
2026-09-18Concall / analyst meetSchedule of meet with UTI Mutual Fund
2026-09-03Concall / analyst meetSchedule of meet with Analysts/ Investor(s)
2026-08-31Concall / analyst meetSchedule of meet with Kotak Mutual Fund
2026-08-31Concall / analyst meetSchedule of meet with Aberdeen
2026-08-31Concall / analyst meetSchedule of meet with Fortitude Fund Management LLP
2026-08-26Concall / analyst meetSchedule of meet with ITUS Capital
2026-08-19Concall / analyst meetSchedule of meet with Awriga Capital
2026-08-19Concall / analyst meetSchedule of meet with Quest Investments
2026-08-19Concall / analyst meetSchedule of meet with Kotak Mahindra Asset Management Company
2026-08-18Concall / analyst meetTranscript of the Earnings Conference Call pertaining to the Unaudited Financial Results for the quarter ended June 30, 2026
2026-08-14Shareholder meetingPI Industries Limited has submitted the Exchange a copy Scrutinizers report of 79th Annual General Meeting held on August 14, 2026 along with Voting ...
2026-08-14Shareholder meetingShareholders meeting
2026-08-13Concall / analyst meetSchedule of meet
2026-08-13Concall / analyst meetSchedule of meet
2026-08-12Concall / analyst meetSchedule of meet with Analysts/ Investors
2026-08-12Concall / analyst meetLink of Recording
2026-08-11Investor PresentationInvestor Presentation
2026-08-11AcquisitionProposed incorporation of a company under Section 8 of the Companies Act, 2013.
2026-08-11Board meeting outcomePI Industries Limited has submitted to the Exchange, the Unaudited Financial Results for the period ended June 30, 2026.
2026-08-03Concall / analyst meetEarnings Conference Call with Analysts / Investors on Wednesday, August 12, 2026 at 12:00 noon (IST) for the quarter ended June 30, 2026.
2026-07-21General UpdatesGeneral Updates regarding Letter to Shareholders under Regulation 36 (1)(b) providing the web-link and exact path of the Companys website for accessin...
2026-07-20Shareholder meetingNotice of 79th Annual General Meeting scheduled to be held on August 14, 2026
2026-07-16UpdatesThe 79th Annual General Meeting scheduled to be held on August 14, 2026
2026-07-16Record DateRecord date for the purpose of Dividend is 07-Aug-2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.91
Max pain (expiry 2026-10-27)2,350
Largest call open interest at2,400
Largest put open interest at2,300
Implied volatility, at the money26.2%
Underlying at snapshot2,236.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-301,568
2026-09-2927,125
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-07-06NCLTISAGRO (Asia) Agro Chemicals Private Limited with PI Industries Ltd. Vs N/A
2021-03-23NCLTISAGRO (Asia) Agro Chemicals Private Limited with PI Industries Ltd. Vs N/A
2021-03-16NCLTISAGRO (Asia) Agro Chemicals Private Limited with PI Industries Ltd. Vs N/A
2020-12-18NCLTISAGRO (Asia) Agro Chemicals Private Limited with PI Industries Ltd. Vs N/A
2020-12-03NCLTISAGRO (Asia) Agro Chemicals Pvt. Ltd. with PI Industries Ltd. Vs N/A
2020-10-15NCLTISAGRO (Asia) Agro Chemicals Private Limited with PI Industries Ltd. Vs N/A
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of P I Industries Ltd?

P I Industries Ltd (PIIND) has a market capitalisation of Rs 34,725 Cr. at the 2026-10-01 close.

What is the P/E ratio of P I Industries Ltd?

P I Industries Ltd trades at a P/E of 32.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were P I Industries Ltd's latest quarterly results?

In the Jun 2026 quarter, P I Industries Ltd sales was Rs 1,702 Cr (-10.4% vs Jun 2025) and net profit was Rs 244 Cr.

What is the 52-week high and low of P I Industries Ltd?

The 52-week high is Rs 3,832.90 and the 52-week low is Rs 2,191.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03