PI Industries Limited has informed the Exchange about Transcript of the Earnings Conference Call pertaining to the Unaudited Financial Results for the quarter and nine months ended December 31, 2025

PI Industries reported Q3 FY26 revenue of INR 13,757 million, broadly in line with expectations as global crop protection demand remained weak due to channel destocking, soft commodity prices, and adverse weather. Gross margin expanded to 59% supported by favorable product mix, while 9M FY26 EBITDA margin stood at 27%. Pharma business grew 50% YoY with an exceptional INR 1,260 million contingent consideration write-back. The company remains debt-free with net cash of INR 35 billion and disclosed an order book of $1.2 billion. Management expects sequential improvement from Q4 FY26, with growth momentum building into FY27. CAPEX guidance for FY27 is INR 500-600 crore. The first indigenous NCE, Pioxaniliprole, is expected to receive registration next financial year, and Plant Healthcare (PHC) expanded from 2 to 33 distributors in Brazil. Long-term gross margin guidance of 50-52% and FY26 EBITDA margin guidance of 25-26% were maintained.