PI Industries stock falls on weak Q1, export outlook

Agrichem firm faces mkt pressure amid regulatory action in biologics segment

- RAM PRASAD SAHU

‘The stock of agrichemicals company PI Industries is down 18 per cent since August and is trading at six-month lows. The correction in the stock (current price of 3,491) was due to the company’s weak performance in the June quarter (Q1) and muted near-term outlook for the export market, where global customers are destocking.

Alongside, regulatory headwinds in the domestic biologics segment dented PI’s Q1 performance and is expected to weigh on growth in Q2 as well. Despite correcting, the stock is trading above the sector average offering and offers little upside from current levels.

PI’s revenues declined by 8 per cent in the June quarter from the previous year due to weak export performance. Agrichem exports (custom synthesis and manufacturing, or CSM, segment) which accounts for 78 per cent of the company’s revenue slipped 14 per cent. ‘The fall in CSM was led by a 9 per cent dip in volume seven as the new products’ share in sales increased 46 per cent from the previous year. ‘The company plans around seven new products/molecules for commercialisation in FY26.