Pi Industries Limited · NSE:PIIND
Pi Industries — Q2 FY26 Earnings Presentation
23 slides from Pi Industries's earnings presentation, November 2025
Slide 1: PI Industries Ltd. Investor Presentation Q2 FY26 Result
PI Industries Ltd. Investor Presentation Q2 FY26 Result CDR India PI Industries Limited Siddharth Rangnekar Rajnish Sarna siddharth@cdr-india.com r.sarna@piind.com Nishid Solanki Sanjay Agarwal nishid@cdr-india.com sanjay.agarwal@piind.com Tel: +91 22 6645 1221 /1209 Tel: +91 22 6266 5600 Fax: +91 2
Slide 2: Agenda
AGENDA • Consolidated Financial Performance • Key Updates • ESG Credentials • Rewards & Recognition • Business Model and Strategy 2
Slide 3: Performance Reflects Short Term Volatility; Structural Drivers Remain Firm
Performance Reflect Short Term Volatility……... Structural Drivers of Long-Term Growth Remain Firm… Consolidated Financials Revenue EBITDA PAT INR Mn Q2FY26 18,723 16% 5,434 14% 4,093 19% Q2: 3-year CAGR* 2% 8% 7% H1FY26 37,728 12% 10,653 12% 8,093 15% H1: 3-year CAGR* 4% 11% 11% Commercialised New p
Slide 4: Q2 Revenue Phasing in Line with Plan; New Products Registered Sharp Growth
Q2 Revenue phasing in line with Plan… New Products registered sharp growth YoY.. INR Mn Q2FY25 Q2FY26 % YOY • Revenue Y-o-Y decline ~16% (3-year Q2 CAGR 2%). Revenue 22,210 18,723 (16)% • ~18% decline in Agchem Exports (Volume decline ~17%) in line with Gross Margin 52% 57% 549 bps business plan and
Slide 5: H1 Performance Reflects Market Conditions; Product Mix Supports EBITDA
H1 Performance Reflects Market Conditions… Favorable Product Mix Supports EBITDA Resilience INR Mn H1FY25 H1FY26 % YOY • Revenue: 3-year H1 CAGR at 4% Revenue 42,899 37,728 (12)% Gross Margin 52% 57% 557 bps o Agchem Exports declined by 16% Y-o-Y impacted by macro factors, Overheads 10,094 11,029 9%
Slide 6: Healthy Liquidity and Prudent Capital Allocation Provide Growth Optionality
Healthy Liquidity and Prudent Capital Allocation Provide Growth Optionality INR Mn Sep-24 Mar-25 Sep-25 • Debt-free Balance sheet position : Surplus cash net of Debt is INR 38,600 Mn Shareholders Fund 95,454 1,01,570 1,08,269 enabling the company to pursue accelerated growth. Non Current Liabilities
Slide 7: Pharma Platform Scaling with Strengthening Customer Pipeline
Pharma Platform Scaling with Strengthening Customer Pipeline and Capability Build-Out INR Mn Q2FY25 Q2FY26 % YOY • Strong start to H1 - onboarded customers. Revenue 411 634 54% • 104% Y-o-Y revenue growth. PBT* (551) (654) (19)% • Decline in profitability due to: o One- off processing related cost a
Slide 8: Biologicals Positioned for Long-Term Global Growth
Biologicals Positioned for Long-Term Global Growth… Regulatory Pathways and Market Trials Progressing as per plan • Good traction in Biologicals technology platform • Commissioned research center for plant systems to products in H1FY26 support global biologicals research o Derived from natural prote
Slide 9: Innovation Pipeline Delivering Differentiated, High-Value Crop Solutions
Innovation Pipeline Delivering Differentiated, High-Value Crop Solutions…….strengthening market position 3 more HORTICULTURE innovative products SOYBEAN FY26 to be Alcor® Comet® Uranus® launched Systemic herbicide for management Post emergent herbicide for For Mites in FY26 of ALS resistance weeds c
Slide 10: Scalable Go-to-Market Model Anchored in Farmer Education and Retail Partnerships
Scalable Go-to-Market Model Anchored in Farmer Education and Retail Partnerships Building Farmer Connect Market Outreach • 15 innovative campaigns • 20,000+ product demos Complaints About Product: resolution • Benefits • Dosage • 60,000+ retailers • Application connected for window marketing • Do’s
Slide 11: Navigating Near-Term Industry Cycles While Positioning for Demand Revival
Navigating Near-Term Industry Cycles While Positioning for Medium-Term Demand Revival HEADWINDS TAILWINDS • Climatic challenges impact the agrochemical demand generation • China + 1 derisking continuing by globally global innovators EXPORTS • Global innovators facing challenges • Inventory levels li
Slide 12: Long-term growth outlook remains intact
Long-term growth outlook remains intact... Focused on Margin Discipline, High-Quality Growth and Scaling Strategic Platforms • Favourable commodity prices and strong reservoir levels supports a positive Rabi season outlook Domestic: • Growing market adoption of new products is driving sustained sale
Slide 13: PI in the S&P Global Sustainability Yearbook 2025
PI in the S&P Global Sustainability Yearbook 2025… ..ranked among the Top 3 percentile of ESG Rated companies globally Carbon emissions intensity in terms of Environmental Social and Governance revenue from operations (INR million) 3.29 3.37 SDG Alignment Key Highlights* Key Highlights* 2.75 2.36 1.
Slide 14: Creating Tangible, Scalable Societal Impact Aligned with Local Community Needs
Creating Tangible, Scalable Societal Impact Aligned with Local Community Needs CSR Themes Health & Women Education & Skill Environment Hygiene Empowerment Development Sustainability Flagship initiative Health & wellness support Empowering women Introducing digital Promoting Sustainable Centre of Exc
Slide 15: Recognition Reinforces Leadership, Safety Culture, and Governance Standards
Recognition Reinforces Our Leadership, Safety Culture, and Governance Standards Gold Trophy - NSCI Safety Award 2024 British Safety Council Sword of Honour – Most Preferred Workplace Rajasthan Business for Excellence in Occupational Safety & Health Udaipur Site, October 2025 2024-25 by Marksmen Dail
Slide 16: World-class R&D set-up delivering innovative and disruptive solutions
World-class R&D set-up delivering innovative and disruptive solutions 1st Indian company to innovate State-of-the-art NABL ISO17025 and GLP certified "PIOXANILIPROLE” R&D Labs New ICP-OES Now filed for registration at 4 locations Addition of UPLC-CAD (Charged Aerosol Detector) 700+ Scientists R&D 80
Slide 17: Agchem CSM, a global leader, backed by strong technological strengths
Agchem CSM, a global leader, backed by strong technological strengths Largest Technology pioneer with technological and Differentiated Commercial Scale IP based interventions in global contract technologies Reactions manufacturing 15 Fully automated Multipurpose Plants (MPPs) with Distributed Contro
Slide 18: PI: Trusted, Resilient and Future-Ready
PI: Trusted, Resilient and Future-Ready “ An organization that is committed to excellence in whatever it does . . . known for over 2 decades to Outshines competitors in delivering business needs of the customers by unlocking value & fearlessly reinventing ourselves “ be the Top wealth creator . . .
Slide 19: Agchem Business model built on respect for IP and established relationships
Agchem Business model built on the principles of respect for IP and established relationships Leading AgChem Distribution India’s largest CRAMS Company Company in India with with majority revenue from Domestic Brand Market leading market share in Patented Products Exports Market certain crops Levera
Slide 20: Multipronged strategy to sustain growth momentum
Multipronged strategy to sustain the growth momentum backed by multiple growth engines & aggressive M&A Market Expansion Creation Build Customer Intimacy Deepening our technological capabilities Segments Product & Services to open new horizons Operation excellence Brands De-risk Process Digital Orga
Slide 21: Our Global Presence
Our Global Presence India Dusseldorf Amsterdam Seattle Milan St. Louis Tokyo Raleigh Beijing Dubai India Registered Office Sao Paulo Corporate Office R&D Our Markets Manufacturing Units Overseas Offices Depots 40+ Countries 10 4,000+ 2,000+ Contracted 8 Mfg. Sites 25 15,000+ 100,000+ Overseas Offices Em
Slide 22: Reimagining a healthier planet!
Reimagining a healthier planet! “Lead with science, technology and human ingenuity to create transformative solutions in life sciences” € ¢\ & COURAGEOUS CURIOUS CREATIVE CARING Think Bold, act with Integrity Question conventional wisdom, Differentiate, Collaborate, Experiment Be Trancparent, build
Slide 23: Thank You
Thank You 23