PI Industries Limited has informed the Exchange about Transcript
PIIND · price
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PI Industries reported Q1 FY26 revenue of Rs. 19,005 million, down 8% year-on-year due to high base and customer inventory balancing, but up 7% sequentially. Gross margins expanded to 57.4% (up 5.7%) and EBITDA margin held at 27.5%, both broadly in line with the H2-weighted FY26 plan. Domestic business grew 6%, pharma surged 186% YoY, but biologicals were hit by regulatory disruptions (~20% of domestic revenue impacted). Management filed India's first discovery molecule PIOXANILIPROLE and plans to launch 6-7 new molecules this fiscal. Order book stands at $1.2 billion, and the company holds a net cash position of Rs. 41,554 million.
Management has maintained FY26 guidance of single-digit revenue growth with sustained EBITDA margins of 25-27% and gross margins of 50-52%, expecting an H2 acceleration. Shareholders may view this as cautiously positive given strong pharma momentum, new molecule filings, and robust order pipeline, though biologicals regulatory uncertainty and US tariff overhang remain near-term watchpoints.