PI Industries Limited — Investor Meet, 20-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

PI Industries reported Q3 FY26 revenue of INR 1,375.7 Cr, maintaining strong 59% gross margins and 27% 9-month EBITDA margins. Management anticipates global AgChem market stabilization, expecting sequential recovery from Q4 FY26 and full growth in FY27. The pharma business grew 50% YoY (9M), with biologicals and electronic chemicals also expanding. PI is actively commercializing new molecules, including India’s first NCE, PIOXANILIPROLE, with registration expected next fiscal. The company's order book stands at $1.2 billion. While working capital days rose to 139, PI remains debt-free with INR 3,500 Cr net cash. Leadership conveys confidence, viewing strategic investments as crucial for future growth.