PI Industries announced its Q2 FY26 results, highlighted by a 16% revenue increase to INR 18,723 Mn. New product introductions drove growth, particularly in Agchem Exports, up about 38% Y-o-Y. The company continues to invest in growth with capital expenditures of INR 4,415 Mn in H1 and positive traction in its Pharma segment, which saw 104% revenue growth in H1.
Financial Performance
PI Industries reported the following consolidated financial results:
- Q2 FY26 Revenue: INR 18,723 Mn (up 16% Y-o-Y)
- EBITDA: INR 5,434 Mn (down 14% Y-o-Y)
- PAT: INR 4,093 Mn (down 19% Y-o-Y)
- H1 FY26 Revenue: INR 37,728 Mn (up 12% Y-o-Y)
- EBITDA margin sustained at 28%
Key Highlights
- Agchem Exports experienced a volume decline of approximately 17% but new products grew about 38% Y-o-Y.
- Domestic revenue decreased by approximately 13% Y-o-Y due to erratic rainfall and regulatory transitions in Biologicals.
- Pharma revenue increased by 54% Y-o-Y, contributing about 4% of exports revenue.
Business Updates and Strategic Initiatives
- Positive momentum is reported in the Pharma segment with several on-boarded customers.
- The company is expanding its GMP site in Lodi, Italy and strengthening regulatory capabilities.
- The company commissioned a research center for plant systems to support global biologicals research.
- New registration for Bio-nematicide was filed in the US.
Outlook and Strategies
PI Industries anticipates some short-term industry volatility but remains focused on margin discipline, high-quality growth, and scaling strategic platforms. The company is leveraging technology, expanding its product pipeline, and pursuing inorganic growth opportunities to ensure long-term shareholder value creation.
Capital Allocation
The company maintains a debt-free balance sheet and continues to allocate capital towards manufacturing capabilities and R&D infrastructure, demonstrated by a Capex spend of INR 4,415 Mn in H1.
Source: BSE
