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Informist, Tuesday, May 20, 2025

By Ashutosh Pati and Anand JC

MUMBAI – Agrochemical products company PI Industries Ltd. is planning to spend INR 8 billion-INR 9 billion in the current financial year, the company's management said in a post-earnings conference call with analysts and investors. Around INR 1 billion of the total capital expenditure will be spent on the pharmaceutical vertical, while the rest will be towards the agrochemical segment.

The company is also aiming to grow the revenue of its biologicals vertical by five times to INR 10 billion over the next five years. New product launches and biologicals were the key growth drivers in 2024-25 (Apr-Mar) and are expected to drive the growth this year too, the company's management said. The revenue from domestic biologicals grew by around 20% on year.

PI Industries expects the broader sentiment in the industry to immprove in the second half of FY26, despite global headwinds. "While the global industry navigates trajectory headwinds and general business dynamics remain uncertain, we maintain a growth outlook, expecting the broader sentiment to improve in the second half of the year. We are confident in the long-term prospects of growth outlooks," the company's management added.

The company expects to commission one of the two multi-purpose plants that are under construction this year. PI Industries operates a network of 15 fully automated multi-purpose plants across the country. In the pharmaceutical vertical, the company added two clients, and has has aim of adding two-three more this financial year. The company feels this will give its pharmaceutical operations a base to earn consistent revenue.

PI Industries' custom synthesis and manufacturing segment--the business of developing and manufacturing custom molecules for global agrochemical majors--will regain the growth momentum in the second half of FY26. "...for CSM (custom synthesis and manufacturing), we have to also keep in mind that in the last three to four years, we have been growing at 20 to 25% (year-on-year). So, obviously, the base is pretty high. And, as we have highlighted, for the next couple of quarters, while the global industry is navigating through this headwind, we certainly believe that, from the second half of FY26, we should be able to again catching up the growth momentum," the company's management added. 

PI Industries disclosed its March quarter earnings on Monday, after markets closed. The company reported a net profit of INR 3.86 billion in the March quarter, marginally up from INR 3.84 billion a year ago. It was, however, higher than the Street's estimate of INR 3.48 billion. The company's Jan-Mar revenue came in at INR 16.48 billion, up over 1% from INR 16.26 billion a year ago. Tuesday, shares of the company closed 0.8% lower at INR 3,730.20 on the National Stock Exchange.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Akul Nishant Akhoury

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