PI Industries Share Price Down Over 15% as Q2FY27 Net Profit Falls 70%

PI Industries reported consolidated revenue of ₹17,018 million for the quarter ended September 30, 2026, down 9% from ₹18,723 million a year earlier, as per exchange filings dated November 4, 2026.  

EBITDA fell 57% to ₹2,362 million, while net profit declined 70% to ₹1,222 million from ₹4,093 million. 

The EBITDA margin was 14%, compared with 29% in Q2 FY26. Gross margin fell to 49% from 57%. The company reported higher input costs, pricing pressure and increased overheads. 

Exports and Domestic Business 

Agrochemical exports declined around 18% year-on-year. PI Industries attributed the fall to lower demand, genericisation and pricing pressure in the global agrochemical market.  

Domestic revenue increased 19% during the quarter. Domestic biologicals revenue rose 45%, while global biologicals revenue grew by more than 250%. Health Sciences revenue increased 20% to ₹759 million from ₹634 million in Q2 FY26. 

Half-Year Results 

For the six months ended September 30, 2026, consolidated revenue stood at ₹34,041 million, down 10% from ₹37,728 million in H1 FY26. EBITDA declined 43% to ₹6,055 million, while net profit fell 55% to ₹3,664 million from ₹8,093 million. 

Business Updates and Cash Position 

The company began commercial GMP manufacturing of Galidesivir API. It also commercialised three specialty and electronic chemical molecules. Its pipeline included more than 60 molecules, with over 60% at advanced stages of development. 

Net working capital reduced by 18 days to 121 days in September 2026, releasing ₹2,981 million in cash. Net cash surplus after debt stood at ₹35,737 million. Capital expenditure for H1 FY27 was ₹5,674 million. 

Read More: Keystone Realtors Share Price in Focus; Reports 84% Rise in Pre-Sales in Q2 FY27! 

PI Industries Share Price Performance  

As of November 5, 2026, 10:49 am, PI Industries share price was trading at ₹1,849.60, down 15.43% from its previous closing price. 

Conclusion 

PI Industries reported lower revenue and profit in Q2 FY27 as agrochemical exports weakened and costs remained high. Growth in domestic and biologicals businesses partly offset the decline in exports. 

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