PI Industries Shares Tumble to 6-Year Low

PI Industries' stock price plummeted to a six-year low of ₹1,859.25 on Thursday, marking a 15% intraday decrease. This significant downturn occurred on the BSE, even as the broader market showed strength. The agrochemical company's shares fell below their previous low, trading at their lowest point since September 2020 and more than halving from their 52-week high.

In the September 2026 quarter (Q2FY27), PI Industries reported a 9% year-on-year revenue decline to ₹1,702 crore. Earnings before interest, tax, depreciation, and amortization (EBITDA) saw a steep 57% drop, with margins contracting due to higher input costs and pricing pressures, exacerbated by El Nino effects and genericization.

The company's profit after tax fell by 70% year-on-year to ₹122 crore. This decline was attributed to increased overheads, including investments in new business development, R&D, new molecule launches, and rising energy costs. Despite these challenges, PI Industries is a global life sciences organization with capabilities in agri sciences, specialty chemicals, and pharmaceuticals, serving customers in over 40 countries.

Analysts noted that subdued global demand and cost escalations impacted agchem exports. However, the Pharma contract development and manufacturing organization (CDMO) business showed growth, with commercial GMP manufacturing of Galidesivir commencing. The domestic agri biologicals segment also expanded significantly. The company maintained a healthy cash balance of ₹3,573 crore at the end of H1FY27.