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PI Industries Limited
(PIIND)
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Rating:56Neutral
Price Target:
₹2,564.00
▼(-21.28% Downside)
Action:Reiterated
Date:08/21/26
The score is primarily held up by a strong balance sheet and historically solid profitability, but is weighed down by the FY2026 deterioration in growth and cash generation (negative free cash flow) and a clearly bearish technical setup with the price below key moving averages. Valuation adds pressure due to a relatively high P/E and low dividend yield.
Positive Factors
Very Low Leverage
Very low leverage limits interest and refinancing pressure while preserving capacity to fund manufacturing, R&D and expansion. The steadily larger equity base also provides resilience if operating conditions weaken, supporting durability over the next several quarters.
Negative Factors
Revenue and Margin Deterioration
The latest reversal weakens confidence in the near-term growth trajectory and suggests pressure from pricing, product mix or costs. If persistent, lower revenue and margins could reduce reinvestment capacity and dilute the company’s historical profitability advantage.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Very low leverage limits interest and refinancing pressure while preserving capacity to fund manufacturing, R&D and expansion. The steadily larger equity base also provides resilience if operating conditions weaken, supporting durability over the next several quarters.
Read all positive factors
PI Industries Limited (PIIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹362.30B
Dividend Yield0.42%
Average Volume (3M)31.06K
Price to Earnings (P/E)31.2
Beta (1Y)0.76
Revenue Growth-16.57%
EPS Growth-27.71%
CountryIN
Employees3,545
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)76.80
Shares Outstanding151,718,120
10 Day Avg. Volume50,849
30 Day Avg. Volume31,057
Financial Highlights & Ratios
PEG Ratio-1.53
Price to Book (P/B)3.67
Price to Sales (P/S)6.14
P/FCF Ratio-91.32
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹2,910.00Price Target Upside-10.66% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)78.23
Revenue Forecast (FY)₹71.09B
PI Industries Limited Business Overview & Revenue Model
Company Description
PI Industries Limited is a global enterprise engaged in the manufacturing and distribution of agrochemicals, with its operations spanning India, the broader Asian continent, North America, Europe, and other international markets. The company's div...
How the Company Makes Money
PI Industries primarily makes money through (1) domestic sales of agricultural inputs and (2) export-oriented custom synthesis/manufacturing services for global clients.
1) Domestic agri-inputs revenue
- Product sales: The company sells branded c...
PI Industries Limited Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
88
Very Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 65.16B | 67.14B | 79.03B | 76.12B | 64.58B | 52.99B |
| Gross Profit | 34.21B | 25.66B | 40.95B | 37.34B | 28.63B | 23.77B |
| EBITDA | 18.61B | 21.19B | 25.27B | 22.33B | 17.08B | 12.47B |
| Net Income | 11.65B | 13.21B | 16.60B | 16.82B | 12.29B | 8.44B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 134.44B | 122.77B | 107.64B | 84.80B | 77.91B |
| Cash, Cash Equivalents and Short-Term Investments | 35.03B | 35.09B | 37.59B | 39.49B | 32.23B | 22.64B |
| Total Debt | 0.00 | 3.42B | 1.84B | 1.91B | 465.00M | 3.16B |
| Total Liabilities | -112.31B | 22.13B | 21.20B | 20.33B | 12.81B | 16.71B |
| Stockholders Equity | 112.31B | 112.31B | 101.57B | 87.31B | 71.98B | 61.20B |
Cash Flow | ||||||
| Free Cash Flow | -2.00B | -4.52B | 5.63B | 14.15B | 11.75B | 1.92B |
| Operating Cash Flow | 2.48B | 6.66B | 14.13B | 20.36B | 15.01B | 5.29B |
| Investing Cash Flow | -2.29B | -8.22B | -14.24B | -18.00B | -4.96B | -1.10B |
| Financing Cash Flow | -1.29B | -1.55B | -2.87B | -2.22B | -4.83B | -1.77B |
PI Industries Limited Technical Analysis
Negative
3257.20
Price Trends
2615.66
Negative
2771.47
Negative
2969.40
Negative
Market Momentum
-70.79
Positive
28.91
Positive
5.59
Positive
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 3257.2 is above the 20-day moving average (MA) of 2547.53, above the 50-day MA of 2615.66, and above the 200-day MA of 2969.40, indicating a bearish trend. The MACD of -70.79 indicates Positive momentum. The RSI at 28.91 is Positive, neither overbought nor oversold. The STOCH value of 5.59 is Positive, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹40.32B | 19.06 | ― | 1.37% | 4.41% | 24.42% | |
71 Outperform | ₹256.74B | 43.51 | ― | 0.26% | -3.61% | 4.00% | |
68 Neutral | ₹179.40B | 24.43 | ― | 2.96% | -2.78% | 23.56% | |
67 Neutral | ₹45.08B | 16.72 | ― | 0.20% | -5.63% | -11.38% | |
58 Neutral | ₹477.50B | 24.17 | ― | 0.77% | 12.86% | 72.26% | |
56 Neutral | ₹362.30B | 31.16 | ― | 0.49% | -16.57% | -27.71% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:PIIND
PI Industries Limited
2,390.55
-1,352.09
-36.13%
IN:BAYERCROP
Bayer Cropscience India Limited
3,980.70
-1,022.44
-20.44%
IN:DHANUKA
Dhanuka Agritech Limited
994.20
-637.11
-39.05%
IN:RALLIS
Rallis India Limited
209.55
-149.55
-41.65%
IN:SUMICHEM
Sumitomo Chemical India Ltd.
505.00
-84.13
-14.28%
IN:UPL
UPL Limited
576.05
-132.69
-18.72%
PI Industries Limited Corporate Events
PI Industries Publishes Q1 FY27 Unaudited Results in Leading Dailies
Aug 13, 2026
PI Industries Limited has published its unaudited standalone and consolidated financial results for the quarter ended 30 June 2026 and has advertised these results in leading national and regional newspapers. The disclosure, made in line with SEBI...
PI Industries plans June 22 investor and analyst meetings under SEBI norms
Jun 16, 2026
PI Industries Limited has notified the stock exchanges that it will hold a series of one-on-one meetings with prominent institutional investors and asset managers on June 22, 2026. Scheduled interactions include virtual and in-person meetings with...
PI Industries Schedules Analyst and Investor Meetings at Mumbai Conferences
May 25, 2026
PI Industries Limited has notified the stock exchanges that it will participate in upcoming investor conferences as part of its regular analyst and investor engagement efforts. The company will attend Axis Capital’s Rising Stars Conference 2...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.