PI Industries Limited — Q2FY27 earnings call summary

Filed 12 November 2026 · Official transcript

Agchem exports declined 18%, volume down 3-4%, pricing pressure 13-14%
Capex focused on new growth platforms; agchem capacity sufficient for 2-3 years
Q2 FY27 consolidated revenue Rs 17,018 mn, down 9% y-y; gross margin 49%, EBITDA margin 14%
Pharma business grew 20% y-y; investments ongoing with expected breakeven in 2-3 years
Multiple analyst queries on margin trajectory and new molecule commercialization timelines
Domestic agri business grew 19% y-y; biologicals up 45% domestically and 250% globally
Pioxaniliprole (Pioxazon) launched in India; global registrations progressing
Global biologicals expanding distribution in Brazil, Mexico, Spain, US