PI Industries Limited (PIIND) AI Stock Analysis

• Market Cap: ₹541.88B
• Dividend Yield: 0.45%
• Average Volume (3M): 5.05K
• Price to Earnings (P/E): 33.6
• Beta (1Y): 0.81
• Revenue Growth: -0.19%
• EPS Growth: -7.79%
• Country: IN
• Employees: 3,545
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Agricultural Inputs
• EPS (TTM): 26.30
• Shares Outstanding: 151,718,120
• 10 Day Avg. Volume: 8,851
• 30 Day Avg. Volume: 5,049
• PEG Ratio: -24.79
• Price to Book (P/B): 5.15
• Price to Sales (P/S): 6.56
• P/FCF Ratio: 92.99
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹4,101.75
• Price Target Upside: 14.84% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

• Rating: 66 Neutral
• Price Target: ₹4,229.00 ▲(18.40% Upside)

PI Industries Limited demonstrates strong financial performance with robust revenue and profit growth, low leverage, and solid cash flow conversion, which are significant strengths. However, the technical analysis indicates bearish momentum, with the stock trading below key moving averages and showing oversold conditions. The valuation suggests the stock may be overvalued, with a high P/E ratio and modest dividend yield. These factors collectively result in a moderate overall stock score.

PI Industries Limited Business Overview & Revenue Model

Company Description

PI Industries Limited manufactures and distributes agro chemicals in India, rest of Asia, North America, Europe, and internationally. The company offers agrochemicals, including insecticides, fungicides, and herbicides; specialty products; and generic molecules, such as profenofos, ethion, and phorate primarily under the Nominee Gold, Osheen, Biovita, Cosko, Roket, Keefun, Elite, Humesol, and Awkira brands, as well as chemical and active intermediates. It also provides research and development (R&D) services comprising target discovery, molecule design, library synthesis, lead optimization, biological evaluation, and route synthesis services; and custom synthesis and manufacturing solutions consisting of process R&D, analytical method development, synthesis of reference standards, structure elucidation and synthesis of impurities, physio-chemical studies and 5-batch analysis under GLP conditions, scale-up studies, safety data generation, waste categorization and treatability studies, process/plant engineering, and large-scale commercial production. It sells its products through distributors/dealers and retailers. The company was formerly known as Mewar Oil & General Mills Ltd. PI Industries Limited was incorporated in 1946 and is based in Gurugram, India.

How the Company Makes Money

PI Industries Limited generates revenue primarily through two key streams: the sale of its agrochemical products and its custom synthesis and manufacturing services. In the agrochemical segment, PI Industries offers a wide range of crop protection solutions that cater to both domestic and international markets. The company earns through direct sales of these products to farmers, distributors, and retail partners. In the CSM segment, PI Industries collaborates with global agrochemical companies to provide custom manufacturing services, which include the development and production of active ingredients and intermediates under contractual agreements. This segment benefits significantly from long-term partnerships with multinational corporations, ensuring a steady flow of revenue. The company's emphasis on research and development, along with its strategic alliances, plays a crucial role in maintaining its competitive edge and driving its earnings.

PI Industries Limited Financial Statement Overview

Summary

PI Industries Limited showcases a well-rounded financial profile with strong income statement metrics, a stable balance sheet, and efficient cash flow management. The company’s consistent revenue and profit growth, low leverage, and solid cash flow conversion highlight its strong competitive position and financial resilience in the agricultural inputs industry.

Income Statement

PI Industries Limited demonstrates a robust financial performance with impressive revenue growth over the years. The gross profit margin has remained strong, reflecting efficient cost management. The net profit margin indicates solid profitability, and both EBIT and EBITDA margins are impressive, showcasing operational efficiency. The consistent year-on-year revenue growth is a testament to the company’s competitive positioning in the industry.

Balance Sheet

The company maintains a solid balance sheet with a low debt-to-equity ratio, indicating prudent financial leverage. The return on equity is strong, reflecting effective use of shareholder funds to generate profit. The equity ratio is healthy, underscoring financial stability and a strong asset base. Overall, the balance sheet reflects financial soundness and a low-risk profile.

Cash Flow

Cash flow analysis reveals a positive trajectory with a strong operating cash flow to net income ratio, indicating good cash conversion efficiency. Free cash flow growth has been remarkable, though the free cash flow to net income ratio suggests room for improvement in converting accounting profits into cash profits. Overall, the company demonstrates solid cash flow management with effective capital expenditure allocation.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	78.09B	79.78B	76.12B	64.58B	52.99B	45.20B
Gross Profit	42.27B	42.07B	37.74B	28.63B	23.77B	19.14B
EBITDA	24.01B	21.79B	22.36B	17.03B	12.51B	11.43B
Net Income	16.11B	16.60B	16.82B	12.29B	8.44B	7.38B
Balance Sheet
Total Assets	127.63B	122.77B	107.64B	84.80B	77.91B	70.02B
Cash, Cash Equivalents and Short-Term Investments	37.59B	37.59B	39.49B	32.23B	22.64B	23.07B
Total Debt	341.00M	1.84B	1.91B	465.00M	3.16B	3.73B
Total Liabilities	-101.57B	21.20B	20.33B	12.81B	16.71B	16.59B
Stockholders Equity	101.57B	101.57B	87.31B	71.98B	61.20B	53.42B
Cash Flow
Free Cash Flow	0.00	5.63B	14.15B	11.75B	1.92B	2.86B
Operating Cash Flow	0.00	14.13B	20.36B	15.01B	5.29B	7.25B
Investing Cash Flow	0.00	-14.24B	-18.00B	-4.96B	-1.10B	-24.30B
Financing Cash Flow	0.00	-2.87B	-2.22B	-4.83B	-1.77B	16.90B

PI Industries Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3571.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PIIND, the sentiment is Negative. The current price of 3571.65 is below the 20-day moving average (MA) of 3575.52, below the 50-day MA of 3698.62, and below the 200-day MA of 3678.22, indicating a bearish trend. The MACD of -46.13 indicates Negative momentum. The RSI at 44.35 is Neutral, neither overbought nor oversold. The STOCH value of 41.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:PIIND.

PI Industries Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DEEPAKFERT	69 Neutral	₹179.43B	18.56	―	0.70%	23.22%	85.82%
PIIND	66 Neutral	₹541.88B	33.62	―	0.45%	-0.19%	-7.79%
SUMICHEM	66 Neutral	₹262.78B	47.16	―	0.23%	13.78%	28.22%
UPL	65 Neutral	₹568.73B	48.56	―	0.88%	8.30%	―
NAVINFLUOR	64 Neutral	₹261.54B	71.42	―	0.23%	21.52%	36.24%
BAYERCROP	62 Neutral	₹224.24B	38.11	―	2.49%	15.23%	-11.06%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%