PI Industries LimitedQ1 FY27 Results & Financial Update
PI Industries Limited: Q1 FY27 consolidated results and company financials – revenue ₹170.23 Cr, PAT ₹24.42 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore PI Industries Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During the quarter ended June 30, 2026, PI Industries reported consolidated revenue from operations of Rs. 17,023 million (or approximately Rs. 170.23 crore), compared to Rs. 19,005 million in the corresponding quarter of the previous year.
Total consolidated income for the quarter stood at Rs. 17,664 million, reflecting contributions from core operations alongside other income of Rs. 641 million.
Profit before tax (PBT) before exceptional items reached Rs. 3,218 million for Q1 FY27, compared with Rs. 5,074 million recorded in Q1 FY25.
Consolidated profit after tax (PAT) for the quarter stood at Rs. 2,442 million, translating to a basic and diluted earnings per share (EPS) of Rs. 16.10.
The agrochemicals segment remained the primary revenue driver, bringing in segment revenue of Rs. 16,488 million, while the pharma segment contributed Rs. 542 million in revenue.
The Board of Directors approved the incorporation of 'PI Foundation' as a wholly-owned subsidiary under Section 8 of the Companies Act, 2013, dedicated to executing corporate social responsibility activities.
During the quarter ended June 30, 2026, PI Industries reported consolidated revenue from operations of 170.23 crore, reflecting sequential growth compared to the preceding quarter but a contraction compared to the corresponding period of the previous year.
Total consolidated income for the quarter reached 176.64 crore, supported by other income items across the group's subsidiaries and joint ventures.
01 · Business model
What does PI Industries do?
PI Industries Limited operates primarily in the agrochemicals sector, encompassing agrochemical exports through custom synthesis manufacturing (CSM), domestic agri-brands, and biologicals.
The company also operates a pharmaceutical segment focused on contract research and development (CRD), as well as contract development and manufacturing of active pharmaceutical ingredients (APIs), key starting materials, and intermediates.
PI Industries conducts its operations globally through a network of domestic and international subsidiaries spanning regions including the US, Europe, and Latin America.
02 · Historical context
What shaped the business before this quarter
In April 2023, PI Health Sciences Limited acquired Solis Pharmachem Private Limited, Therachem Research Medilab (India) Private Limited, and specific assets of Therachem Research Medilab LLC, USA.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Q1 FY27 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹170.23 Cr | ₹190.05 Cr | ₹156.52 Cr |
| Total income | ₹176.64 Cr | ₹198.64 Cr | ₹164.08 Cr |
| Profit before tax | ₹32.18 Cr | ₹50.74 Cr | ₹30.05 Cr |
| Profit after tax | ₹24.42 Cr | ₹40.00 Cr | ₹20.02 Cr |
| EPS | ₹16.10 | ₹26.37 | ₹13.20 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Agrochemical exports, domestic agri-brands, and biologicals generated segment revenue of Rs. 16,488 million during the quarter.
Contract research and manufacturing operations in the pharma segment contributed Rs. 542 million in revenue during Q1 FY27.
Generated 164.88 crore in revenue during the quarter, continuing to form the core revenue engine of the consolidated entity.
Contributed 5.42 crore in revenue for the quarter from contract research, development, and manufacturing activities.
What drove margins
Cost of materials consumed for the quarter stood at Rs. 6,819 million.
Employee benefit expenses were recorded at Rs. 2,608 million for the quarter.
Depreciation and amortisation expenses for Q1 FY27 were reported at Rs. 1,037 million.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Reported segment revenue of Rs. 16,488 million and segment profit before tax of Rs. 3,835 million.
Reported segment revenue of Rs. 542 million and a segment loss before tax of Rs. 816 million.
Agro chemicals segment reported segment results of 38.35 crore in profit before tax on revenues of 164.88 crore.
Pharma segment reported a segment loss before tax of 8.16 crore on revenues of 5.42 crore, reflecting ongoing investments in capabilities and infrastructure.
06 · Strategy & new businesses
How the company is trying to change its growth mix
The Board approved the incorporation of PI Foundation as a Section 8 company to centrally manage corporate social responsibility (CSR) initiatives with an initial cash subscription of Rs. 100,000.
The Board approved the incorporation of a Section 8 company named 'PI Foundation' as a wholly owned subsidiary to streamline and execute Corporate Social Responsibility initiatives.
07 · Reported developments
What changed operationally
Demonstrated sequential improvements in revenue, PBT, and PAT compared to the quarter ended March 31, 2026.
08 · Beyond the numbers
What changed beyond the numbers
Reported update
Subsidiary Governance and Review
The consolidated financial results include interim reviews of multiple domestic and international subsidiaries and step-down entities by respective statutory auditors with unmodified conclusions.
09 · Key Q&A
The quarter, answered directly
What does PI Industries do?
PI Industries Limited operates primarily in the agrochemicals sector, encompassing agrochemical exports through custom synthesis manufacturing (CSM), domestic agri-brands, and biologicals.
What is the clearest takeaway from Q1 FY27?
During the quarter ended June 30, 2026, PI Industries reported consolidated revenue from operations of Rs. 17,023 million (or approximately Rs. 170.23 crore), compared to Rs. 19,005 million in the corresponding quarter of the previous year.
What drove revenue or demand?
Agrochemical exports, domestic agri-brands, and biologicals generated segment revenue of Rs. 16,488 million during the quarter.
What mattered most for margins or profitability?
Cost of materials consumed for the quarter stood at Rs. 6,819 million.
What changed operationally beyond the headline numbers?
The Board approved the incorporation of PI Foundation as a Section 8 company to centrally manage corporate social responsibility (CSR) initiatives with an initial cash subscription of Rs. 100,000.
What should the next disclosure help confirm?
Monitor the operational progress and path to profitability of the pharmaceutical segment following continued segment losses.
10 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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11 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Pharma Segment Turnaround: Monitor the operational progress and path to profitability of the pharmaceutical segment following continued segment losses.
- 02
PI Foundation Operationalization: Track the formal registration and execution of CSR initiatives through the newly incorporated PI Foundation.
- 03
Agrochemical Demand Trends: Watch for order intake and export demand trends in the core agrochemicals and custom synthesis business.
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