PI Industries Ltd.

NSE: PIIND · Chemicals

₹1,735.00-1.98%06 Nov 2026

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Instant answers about PI Industries Ltd. — computed from its filings, no language model

Market cap₹26,372 cr

Current price₹1,735.00

High / Low₹3,820 / ₹1,735

P/E29.8

P/B2.30

Book value₹753.8

ROE7.7%

ROCE10.2%

Debt / equity0.02

Dividend yield0.86%

EPS (TTM)₹58.29

Face value₹1

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 7 periods

	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	3,366	4,577	5,300	6,492	7,666	7,978	6,714
EBITDA	718	1,012	1,142	1,542	2,015	2,179	1,700
Operating margin	21.3%	22.1%	21.6%	23.8%	26.3%	27.3%	25.3%
Interest	17	28	13	37	30	33	16
Depreciation	137	175	202	226	308	352	407
Profit before tax	613	934	1,029	1,438	1,884	2,138	1,690
Tax	157	200	189	215	213	482	375
Net profit	401	808	0	1,230	1,682	1,650	1,300
EPS ₹	33.08	49.92	55.65	81.06	110.85	109.44	87.06
Operating cash flow	—	—	529	1,501	2,036	1,413	474
Capex	—	—	337	326	620	850	1,118
Dividend paid	—	—	76	114	174	228	228
Total assets	4,225	7,002	7,791	8,480	10,764	12,277	13,444
Equity	2,619	5,342	6,120	7,198	8,731	10,157	11,230

Quarterly performance

last 31 quarters · ₹ crore

showing latest 8 of 31 periods

	JUN '18	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	606	754	907	850	855	1,060	1,158	1,162	1,197	1,194	1,354	1,356	1,395	1,543	1,770	1,613	1,566	1,910	2,117	1,898	1,741	2,069	2,221	1,901	1,787	1,900	1,872	1,376	1,565	1,702	1,702
Operating profit	119	152	192	186	186	229	280	276	227	249	292	296	305	346	432	415	343	468	551	554	442	583	628	512	456	519	541	302	337	367	233
Operating margin	19.6%	20.2%	21.2%	21.9%	21.8%	21.6%	24.2%	23.7%	19.0%	20.8%	21.6%	21.9%	21.9%	22.4%	24.4%	25.7%	21.9%	24.5%	26.0%	29.2%	25.4%	28.2%	28.3%	26.9%	25.5%	27.3%	28.9%	22.0%	21.5%	21.6%	13.7%
Other income	10	12	11	19	7	8	34	39	44	28	28	26	20	24	32	50	50	47	47	56	58	73	122	76	73	86	82	67	76	64	61
Interest	2	2	2	4	8	10	8	7	4	3	3	3	3	4	11	9	3	4	8	7	11	8	8	8	8	4	3	6	4	8	8
Depreciation	22	30	32	32	44	43	43	44	45	49	49	50	54	56	56	57	58	70	80	78	80	83	80	99	90	96	98	105	107	104	105
Profit before tax	105	133	169	170	141	185	263	264	222	224	267	269	269	310	396	400	331	441	510	524	409	564	662	480	431	505	523	362	300	320	180
Tax	23	31	46	49	31	44	45	68	42	40	37	47	65	52	63	48	52	62	32	77	42	118	155	108	102	107	116	52	100	78	62
Net profit	0	0	123	121	67	170	218	212	179	183	241	207	0	0	335	352	281	383	480	449	370	454	499	318	378	443	378	311	160	276	139
EPS ₹	5.97	7.35	8.95	8.76	8.03	10.52	14.61	12.83	11.96	12.34	15.15	14.67	13.49	17.30	22.07	23.20	18.49	25.24	31.67	29.59	24.36	29.59	33.51	24.55	21.79	26.37	26.98	20.52	13.20	16.10	8.05
Revenue YoY	—	24.5%	—	—	—	40.6%	27.6%	36.7%	40.0%	12.6%	17.0%	16.7%	16.5%	29.3%	30.7%	18.9%	12.2%	23.8%	19.6%	17.6%	11.2%	8.3%	4.9%	0.2%	2.6%	-8.1%	-15.7%	-27.6%	-12.4%	-10.4%	-9.1%
Profit YoY	—	—	—	—	—	—	76.6%	74.8%	165.7%	7.7%	10.6%	-2.3%	-100.0%	-100.0%	39.2%	70.0%	—	—	43.5%	27.5%	31.7%	18.7%	3.9%	-29.2%	2.4%	-2.4%	-24.2%	-2.0%	-57.8%	-37.7%	-63.3%

Earlier results (standalone, Sep '07 – Mar '18)

₹ crore · from BSE, before the NSE XBRL filings begin

PI Industries Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 10 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†
Revenue	462	543	719	878	1,151	1,595	1,940	2,097	2,383	2,309
Operating profit	63	87	124	149	180	286	370	433	551	492
Operating margin	13.6%	16.1%	17.2%	16.9%	15.6%	17.9%	19.1%	20.6%	23.1%	21.3%
Other income	0	—	—	—	8	16	23	21	36	60
Interest	20	18	18	24	22	13	8	5	7	6
Depreciation	11	13	16	17	22	31	49	54	73	83
Profit before tax	31	56	90	139	144	258	353	404	506	464
Tax	7	15	26	39	47	74	109	90	49	97
Net profit	23	41	64	101	96	184	243	313	457	367

Quarters

showing latest 8 of 43 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†
Revenue	107	84	107	101	134	108	119	114	156	133	140	130	187	189	213	207	246	191	235	239	298	283	330	406	463	363	363	471	427	505	537	555	446	511	585	683	572	500	627	585	561	538	625
Operating profit	13	3	7	14	18	15	16	19	25	22	22	19	34	30	40	43	37	31	37	49	44	45	41	79	92	63	52	108	73	94	95	136	85	105	107	166	128	103	154	130	122	105	135
Operating margin	11.8%	3.6%	6.8%	13.9%	13.5%	14.0%	13.1%	16.3%	16.1%	16.4%	15.7%	14.9%	18.4%	15.8%	18.8%	20.9%	15.2%	16.1%	15.9%	20.6%	14.6%	16.0%	12.5%	19.4%	19.9%	17.3%	14.3%	22.9%	17.0%	18.6%	17.7%	24.5%	19.0%	20.5%	18.3%	24.2%	22.4%	20.7%	24.5%	22.3%	21.8%	19.5%	21.5%
Other income	1	0	4	0	-0	0	0	—	—	-0	0	—	—	—	—	—	—	—	2	2	1	2	4	1	3	4	8	4	6	6	8	4	4	5	7	11	13	13	-2	13	12	16	19
Interest	4	4	5	6	4	6	4	5	5	4	4	4	4	5	5	5	5	10	3	12	3	6	1	4	3	2	4	2	3	1	2	1	3	0	1	2	1	1	3	1	1	1	2
Depreciation	2	2	3	3	3	3	3	3	3	3	3	4	4	4	4	4	4	4	4	5	5	5	7	7	8	8	8	10	10	10	20	11	12	14	17	18	18	18	19	20	21	21	21
Profit before tax	7	-3	3	5	11	6	9	10	17	15	14	12	27	20	30	64	28	16	31	34	37	36	37	75	82	54	47	104	72	91	86	130	80	96	97	157	122	97	130	122	113	98	131
Tax	1	0	1	1	2	1	3	3	4	4	4	3	8	5	10	16	8	5	10	10	11	12	14	27	27	19	2	32	23	29	25	43	22	24	1	31	20	3	-5	22	32	18	25
Net profit	6	-3	2	4	8	5	6	7	13	10	11	10	19	15	20	48	19	11	22	23	26	24	23	49	55	35	45	72	49	62	60	87	58	73	95	127	101	94	135	100	80	81	105
EPS ₹	16.28	-8.73	5.11	11.63	23.52	13.70	8.15	10.15	18.11	14.58	14.92	8.80	16.89	13.70	18.35	38.54	7.78	4.60	8.72	9.36	10.28	9.54	1.82	3.58	4.07	2.55	3.33	5.27	3.59	4.56	4.42	6.39	4.26	5.30	6.96	9.25	7.39	6.83	9.85	7.28	5.84	5.86	7.65
Revenue YoY	—	—	—	—	25.7%	28.8%	11.6%	13.0%	15.8%	23.4%	17.5%	14.4%	20.2%	42.4%	51.4%	58.7%	31.4%	0.6%	10.7%	15.6%	21.5%	48.3%	40.4%	69.8%	55.1%	28.6%	9.8%	16.0%	-7.8%	38.9%	48.0%	17.7%	4.6%	1.2%	8.9%	23.2%	28.2%	-2.1%	7.3%	-14.4%	-1.9%	7.5%	-0.3%
Profit YoY	—	—	—	—	44.4%	—	218.8%	74.8%	54.1%	113.0%	83.4%	35.7%	46.0%	47.2%	92.6%	390.8%	3.3%	-24.8%	6.9%	-51.1%	33.4%	109.4%	6.0%	106.9%	114.1%	44.9%	95.7%	47.8%	-11.4%	79.3%	33.5%	21.7%	18.9%	16.6%	58.0%	45.3%	74.1%	29.6%	41.8%	-21.1%	-20.8%	-14.2%	-22.0%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 27 periods

	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	11.9%	18.4%	22.0%	25.4%	14.6%	14.8%	15.2%	15.2%	10.3%	7.3%	8.2%	10.4%	13.4%	18.8%	18.7%	20.0%	19.3%	20.1%	18.6%	17.2%	16.2%	16.1%	14.0%	14.0%	11.5%	10.0%	7.7%
ROCE	20.1%	22.1%	25.2%	28.3%	17.0%	17.6%	17.6%	17.6%	16.3%	17.7%	18.5%	20.4%	20.3%	22.2%	21.0%	22.6%	21.6%	23.0%	22.7%	22.3%	21.1%	20.5%	17.8%	16.7%	14.9%	13.3%	10.2%
Net margin	9.3%	13.1%	14.7%	15.7%	17.0%	16.8%	16.6%	15.9%	11.9%	7.9%	8.9%	10.9%	14.9%	19.7%	20.8%	21.3%	21.9%	22.4%	22.3%	20.7%	20.7%	21.0%	20.3%	21.8%	19.3%	17.3%	14.0%
EBITDA margin	21.3%	21.6%	22.5%	22.9%	22.1%	21.9%	21.3%	20.9%	21.6%	21.9%	22.7%	23.7%	23.7%	24.2%	24.7%	25.6%	26.3%	27.2%	27.8%	27.3%	27.3%	27.1%	27.2%	26.2%	25.3%	23.8%	19.5%
Debt / equity	0.19	0.19	0.19	0.19	0.06	0.06	0.06	0.06	0.04	0.04	0.04	0.04	0.00	0.00	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.02	0.02	0.02	0.02
Interest coverage	37.06	28.38	26.81	27.48	34.12	45.25	55.93	68.79	81.41	86.75	61.11	53.28	54.44	57.82	70.21	81.65	63.81	60.05	63.24	59.77	65.78	73.66	86.43	89.41	104.07	74.81	45.39
Asset turnover	0.80	0.87	0.93	1.00	0.65	0.67	0.70	0.73	0.68	0.73	0.71	0.74	0.77	0.81	0.71	0.74	0.71	0.73	0.66	0.66	0.65	0.64	0.56	0.52	0.50	0.48	0.46

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 18 periods

	MAR '14‡	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	14	14	14	14	14	14	14	15	15	15	15	15	15	15	15	15	15	15
Other equity / reserves	695	896	1,157	1,613	1,911	2,272	2,605	5,327	6,105	6,602	7,183	7,967	8,716	9,530	10,142	10,812	11,215	11,442
Total equity	708	910	1,171	1,627	1,925	2,285	2,619	5,342	6,120	6,618	7,198	7,982	8,731	9,545	10,157	10,827	11,230	11,457
Borrowings	86	81	124	83	46	10	508	328	268	236	0	126	128	107	112	176	238	208
Current liabilities	—	—	591	551	614	812	1,100	1,257	1,348	1,707	1,182	1,856	1,711	2,094	1,728	1,970	1,777	1,973
Non-current liabilities	—	—	186	123	88	58	505	402	322	260	99	289	322	356	392	504	436	435
Total assets	1,318	1,633	1,949	2,301	2,626	3,155	4,225	7,002	7,791	8,585	8,480	10,127	10,764	11,995	12,277	13,301	13,444	13,866
Property, plant & equipment	—	—	—	938	991	1,179	1,734	2,020	2,333	2,289	2,494	2,741	2,954	2,929	3,318	3,334	3,678	3,756
Capital work-in-progress	36	122	59	58	69	154	237	250	64	110	62	237	173	471	384	610	755	999
Investments	—	—	0	83	161	129	150	872	900	924	1,016	1,180	1,336	1,233	1,531	1,352	1,360	2,127
Inventories	319	378	395	432	452	536	799	1,053	1,423	1,610	1,398	1,400	1,301	1,165	984	1,212	1,217	1,224
Receivables	257	383	398	424	527	662	646	704	869	1,476	838	1,666	1,091	1,804	1,833	2,486	2,320	2,176
Cash & equivalents	44	34	34	84	117	61	125	110	351	523	873	698	886	814	592	491	283	329

Cash flow

annual · ₹ crore · line = free cash flow

	FY22	FY23	FY24	FY25	FY26
Cash from operations	529	1,501	2,036	1,413	474
Cash from investing	-110	-496	-1,800	-1,424	-614
Cash from financing	-177	-483	-222	-286	-171
Capex	337	326	620	850	1,118
Free cash flow	192	1,175	1,416	563	-644
Dividends paid	76	114	174	228	228

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹3,756 cr27%

CWIP

₹999 cr7%

Investments

₹2,127 cr15%

Inventories

₹1,224 cr9%

Receivables

₹2,176 cr16%

Cash & equivalents

₹329 cr2%

Other assets

₹3,254 cr23%

Peer comparison

largest in Chemicals · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Solar Industries India Ltd.	1,68,402	18,608.00	74.4	21.95	29.5%
Pidilite Industries Ltd.	1,60,821	1,579.00	59.9	14.34	23.9%
SRF Ltd.	72,931	2,460.40	143.2	4.77	3.3%
Linde India Ltd.	58,496	6,859.00	755.3	13.33	1.8%
Coromandel International Ltd.	53,808	1,824.00	31.8	428.48	1349.1%
Gujarat Fluorochemicals Ltd.	51,320	4,665.50	75.6	6.12	8.1%
Fertilisers and Chemicals Travancore Ltd.	48,546	750.25	—	35.30	-3.1%
Navin Fluorine International Ltd.	46,221	9,010.00	50.8	10.36	20.4%
UPL Ltd.	45,199	534.90	23.9	1.30	5.4%
Himadri Speciality Chemical Ltd.	28,669	568.15	33.5	5.58	16.6%
PI Industries Ltd.	26,372	1,735.00	29.8	2.30	7.7%

StoxGud checklist: Bearish setup · 3/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-21.5%

6 months-44.1%

1 year-51.9%

3Y CAGR-20.7%

5Y CAGR-8.8%

10Y CAGR+7.4%

50-day avg₹2,242.85

200-day avg₹2,727.40

RSI (14)24

Compare PI Industries Ltd. with

Himadri Speciality Chemical vs PI Industries PI Industries vs Deepak Nitrite PI Industries vs Aether Industries PI Industries vs Sumitomo Chemical India

FAQs

What is the share price of PI Industries Ltd.?

PI Industries Ltd. (PIIND) closed at ₹1,735.00 on NSE on 06 Nov 2026.

What is the market cap of PI Industries Ltd.?

₹26,372 crore at the latest close.

What is the P/E ratio of PI Industries Ltd.?

29.8, on trailing-twelve-month earnings from its filings.

How fast is PI Industries Ltd. growing?

PI Industries Ltd.: revenue has compounded at 1.1% a year over three years; net profit at 1.9% a year. Latest-quarter revenue is down 9.1% year on year, profit down 63.3%.

How profitable is PI Industries Ltd.?

On a trailing-twelve-month basis return on equity is 7.7%, return on capital employed 10.2%, operating margin 19.5%, net margin 14.0%.

How much debt does PI Industries Ltd. have?

PI Industries Ltd. is debt-free: debt to equity is 0.02 with borrowings of ₹208 cr against cash of ₹329 cr (balance sheet of 2026-09-30). Operating profit covers interest 45.4 times.

Financials parsed from PI Industries Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from JUN '18, annual from FY20, balance sheet from Mar '14. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.