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Last Updated: April 2, 2026, 3:28 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 523642 | NSE: PIIND

PI Industries Ltd (PIIND): Intrinsic Value & Share Price Analysis

Fair Value

₹3,194.58Undervalued by 12.29%vs CMP ₹2,845.00

P/E (31.6) × ROE (17.6%) × BV (₹714.00) × DY (0.56%)

₹1,741.07Overvalued by 38.80%vs CMP ₹2,845.00
MoS: -63.4% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹3,560.3722%Under (+25.1%)
Graham NumberEarnings₹1,239.5416%Over (-56.4%)
Earnings PowerEarnings₹858.5111%Over (-69.8%)
DCFCash Flow₹1,668.4013%Over (-41.4%)
Net Asset ValueAssets₹713.667%Over (-74.9%)
EV/EBITDAEnterprise₹2,007.369%Over (-29.4%)
Earnings YieldEarnings₹956.407%Over (-66.4%)
ROCE CapitalReturns₹1,018.419%Over (-64.2%)
Revenue MultipleRevenue₹788.805%Over (-72.3%)
Consensus (9 models)₹1,741.07100%Overvalued
Key Drivers: Wide model spread (₹714–₹3,560) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 11.5%

*Investments are subject to market risks

Investment Snapshot

58
PI Industries Ltd (PIIND) scores 58/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health83/100 · Strong
ROCE 22.9% ExcellentROE 17.6% GoodD/E 0.04 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -2.09% (6mo) SellingDII holding up 3.51% MF buyingPromoter holding at 46.1% Stable
Earnings Quality65/100 · Strong
OPM expanding (23% → 27%) Improving
Quarterly Momentum15/100 · Weak
Revenue (4Q): -13% YoY DecliningProfit (4Q): -15% YoY DecliningOPM: 22.0% (down 5.0% YoY) Margin pressure
Industry Rank65/100 · Strong
P/E 31.6 vs industry 25.3 In-lineROCE 22.9% vs industry 15.2% Above peers3Y sales CAGR: 15% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:28 am

Market Cap 43,162 Cr.
Current Price 2,845
Intrinsic Value₹1,741.07
High / Low 4,330/2,700
Stock P/E31.6
Book Value 714
Dividend Yield0.56 %
ROCE22.9 %
ROE17.6 %
Face Value 1.00
PEG Ratio2.76

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for PI Industries Ltd (PIIND)

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
PI Industries Ltd (PIIND) 43,162 Cr. 2,845 4,330/2,70031.6 7140.56 %22.9 %17.6 % 1.00
UPL Ltd 50,170 Cr. 594 812/56526.4 3781.01 %7.66 %3.29 % 2.00
Bayer CropScience Ltd 21,318 Cr. 4,744 6,540/4,27331.8 6952.64 %24.8 %20.0 % 10.0
Sumitomo Chemical India Ltd 18,978 Cr. 380 665/36335.0 64.00.32 %25.1 %18.8 % 10.0
Atul Ltd 18,950 Cr. 6,436 7,793/4,75231.9 2,0100.39 %12.8 %9.10 % 10.0
Industry Average9,472.25 Cr1,009.7725.27369.000.53%15.21%19.87%6.67

All Competitor Stocks of PI Industries Ltd (PIIND)

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,6131,5661,9102,1171,8981,7412,0692,2211,9011,7871,9001,8721,376
Expenses 1,1981,2231,4431,5661,3441,2991,4861,5931,3891,3321,3811,3311,073
Operating Profit 415343468551554442583628512456519541302
OPM % 26%22%24%26%29%25%28%28%27%25%27%29%22%
Other Income 5151524958607512376758985172
Interest 93487118888436
Depreciation 575870807880838099909698105
Profit before tax 400332445512526411566663481432507525363
Tax % 12%16%14%6%15%10%21%23%22%24%21%22%14%
Net Profit 352281383480449370449508373330400409311
EPS in Rs 23.1918.4925.2431.6729.5724.3529.5833.5024.5721.7826.3626.9820.52

Last Updated: March 3, 2026, 3:49 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 9:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,5961,9402,0962,2772,2772,8413,3664,5775,3006,4927,6667,9786,936
Expenses 1,3001,5581,6611,7221,7812,2612,6473,5594,1544,9485,6365,7725,117
Operating Profit 2953824355554965807201,0181,1461,5442,0302,2061,818
OPM % 19%20%21%24%22%20%21%22%22%24%26%28%26%
Other Income 11353436605850129105166216345420
Interest 14121297719341639445621
Depreciation 325054738393137175202226308352390
Profit before tax 2613554035104665386149381,0331,4441,8952,1421,828
Tax % 28%31%23%10%21%24%26%21%18%15%11%22%
Net Profit 1882463124593684104577388441,2301,6821,6601,451
EPS in Rs 13.8118.0022.7233.3926.6629.7233.0648.6655.6281.04110.83109.4395.64
Dividend Payout % 14%14%14%12%15%13%12%10%11%12%14%15%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)30.85%26.83%47.12%-19.83%11.41%11.46%61.49%14.36%45.73%36.75%-1.31%
Change in YoY Net Profit Growth (%)0.00%-4.02%20.29%-66.94%31.24%0.05%50.02%-47.12%31.37%-8.99%-38.06%

PI Industries Ltd (PIIND) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:15%
5 Years:19%
3 Years:15%
TTM:0%
Compounded Profit Growth
10 Years:21%
5 Years:30%
3 Years:25%
TTM:-8%
Stock Price CAGR
10 Years:19%
5 Years:15%
3 Years:5%
1 Year:-17%
Return on Equity
10 Years:19%
5 Years:18%
3 Years:19%
Last Year:18%

Last Updated: September 5, 2025, 12:15 pm

Balance Sheet

Last Updated: December 4, 2025, 1:47 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 14141414141414151515151515
Reserves 6818831,1571,6131,9112,2722,6055,3276,1057,1838,71610,14210,812
Borrowings 122115151120834951937331646191184242
Other Liabilities 5016226265546188201,0871,2871,3541,2351,8221,9082,232
Total Liabilities 1,3181,6331,9492,3012,6263,1554,2257,0027,7918,48010,74412,24913,301
Fixed Assets 5275338749459981,1861,8582,1382,4522,6063,5284,2094,443
CWIP 42133717790183271288114132278550610
Investments 110831611291508729001,0161,3361,5311,352
Other Assets 7489671,0031,1961,3781,6571,9463,7044,3254,7265,6015,9596,896
Total Assets 1,3181,6331,9492,3012,6263,1554,2257,0027,7918,48010,74412,24913,301

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 2191843673393193916987255291,5012,0361,413
Cash from Investing Activity + -50-146-303-235-180-322-985-2,430-110-496-1,800-1,421
Cash from Financing Activity + -145-53-48-53-106-1253501,690-177-483-222-286
Net Cash Flow 24-15165033-5663-1524152214-294
Free Cash Flow 155164819815023292871921,1791,417575
CFO/OP 99%79%106%83%84%88%112%87%61%114%119%81%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow173.00267.00284.00435.00413.00531.00201.00-372.00-315.00-45.00-189.00-182.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 597269688485705660434464
Inventory Days 12612412413614112615814917814412495
Days Payable 1161161159011512111711311586119117
Cash Conversion Cycle 70807811311090111931221014942
Working Capital Days 414354728987707293704867
ROCE %36%41%36%34%25%25%23%22%17%22%24%23%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 46.08%46.08%46.09%46.09%46.09%46.09%46.09%46.09%46.09%46.09%46.09%46.09%
FIIs 18.59%19.17%20.01%20.41%20.26%18.76%19.02%18.46%18.06%16.98%16.42%15.97%
DIIs 24.06%23.80%23.11%23.00%24.18%25.84%26.21%27.07%27.43%29.21%30.26%30.94%
Government 0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%
Public 11.10%10.77%10.61%10.34%9.29%9.14%8.54%8.23%8.28%7.58%7.09%6.85%
Others 0.03%0.03%0.02%0.02%0.02%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
No. of Shareholders 1,48,0371,41,0921,58,2681,84,5151,57,9911,56,7901,50,1901,57,9931,67,2651,50,4011,37,9321,34,860

Shareholding Pattern Chart

No. of Shareholders

PI Industries Ltd (PIIND): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Kotak Midcap Fund 2,893,010 1.57 924.432,830,9862025-12-15 01:56:572.19%
ICICI Prudential Balanced Advantage Fund 2,296,512 1.04 733.832,279,0172026-02-23 00:30:020.77%
Axis ELSS Tax Saver Fund 1,722,784 1.67 550.53,404,1582025-12-08 03:52:34-49.39%
Mirae Asset Large & Midcap Fund 1,684,238 1.27 538.18N/AN/AN/A
ICICI Prudential India Opportunities Fund 1,675,794 1.52 535.481,600,7942026-02-23 01:21:594.69%
ICICI Prudential Large & Mid Cap Fund 1,439,598 1.68 460.011,414,8522026-02-22 08:05:051.75%
ICICI Prudential Flexicap Fund 1,399,154 2.27 447.091,371,9762026-02-23 01:09:001.98%
ICICI Prudential Multi Asset Fund 1,141,969 0.45 364.9N/AN/AN/A
Mirae Asset Midcap Fund 1,136,116 2.06 363.031,080,0322025-12-15 07:30:045.19%
SBI Large Cap Fund 1,130,500 0.66 361.24N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 109.44110.8581.0655.6549.92
Diluted EPS (Rs.) 109.44110.8381.0455.6349.89
Cash EPS (Rs.) 132.13130.2195.3468.5559.78
Book Value[Excl.RevalReserv]/Share (Rs.) 668.22574.41473.59402.66351.47
Book Value[Incl.RevalReserv]/Share (Rs.) 668.22574.41473.59402.66351.47
Revenue From Operations / Share (Rs.) 524.86504.33427.11348.65301.12
PBDIT / Share (Rs.) 166.00146.21111.9181.8374.81
PBIT / Share (Rs.) 142.81125.9397.0168.5563.31
PBT / Share (Rs.) 140.64123.9694.5767.7161.45
Net Profit / Share (Rs.) 108.94109.9380.4455.2848.28
NP After MI And SOA / Share (Rs.) 109.22110.6380.8955.5148.57
PBDIT Margin (%) 31.6228.9926.2023.4724.84
PBIT Margin (%) 27.2024.9722.7119.6621.02
PBT Margin (%) 26.7924.5722.1419.4220.40
Net Profit Margin (%) 20.7521.7918.8315.8516.03
NP After MI And SOA Margin (%) 20.8121.9318.9315.9216.13
Return on Networth / Equity (%) 16.3419.2517.0713.7813.81
Return on Capital Employeed (%) 20.5721.1420.2016.1716.75
Return On Assets (%) 13.5215.6214.4910.8310.54
Long Term Debt / Equity (X) 0.010.010.000.020.04
Total Debt / Equity (X) 0.010.010.000.040.04
Asset Turnover Ratio (%) 0.690.790.770.690.77
Current Ratio (X) 4.023.904.793.683.57
Quick Ratio (X) 3.453.143.612.632.74
Inventory Turnover Ratio (X) 6.982.652.422.342.61
Dividend Payout Ratio (NP) (%) 13.7010.379.248.988.20
Dividend Payout Ratio (CP) (%) 11.308.767.807.246.63
Earning Retention Ratio (%) 86.3089.6390.7691.0291.80
Cash Earning Retention Ratio (%) 88.7091.2492.2092.7693.37
Interest Coverage Ratio (X) 76.4674.0845.8597.1740.32
Interest Coverage Ratio (Post Tax) (X) 51.1856.7033.9666.6427.02
Enterprise Value (Cr.) 49661.4656230.5243769.0241737.5632907.06
EV / Net Operating Revenue (X) 6.227.346.747.887.19
EV / EBITDA (X) 19.6825.3025.7333.5628.94
MarketCap / Net Operating Revenue (X) 6.527.677.098.097.49
Retention Ratios (%) 86.2989.6290.7591.0191.79
Price / BV (X) 5.126.746.397.016.41
Price / Net Operating Revenue (X) 6.527.677.098.097.49
EarningsYield 0.030.020.020.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

PI Industries Ltd. is a Public Limited Listed company incorporated on 31/12/1946 and has its registered office in the State of Rajasthan, India. Company's Corporate Identification Number(CIN) is L24211RJ1946PLC000469 and registration number is 000469. Currently Company is involved in the business activities of Manufacture of pesticides and other agrochemical products. Company's Total Operating Revenue is Rs. 7571.20 Cr. and Equity Capital is Rs. 15.20 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Agro Chemicals/PesticidesUdaisagar Road, Udaipur Rajasthan 313001Contact not found
Management
NamePosition Held
Mr. Salil SinghalChairperson Emeritus
Mr. Narayan K SeshadriNon Exe. Non Ind Chairperson
Mr. Mayank SinghalVice Chairman & Mng.Director
Mr. Rajnish SarnaJoint Managing Director
Mr. Arvind SinghalNon Exe.Non Ind.Director
Mr. Rafael Del Rio DonosoNon Executive Director
Mr. Shobinder DuggalIndependent Director
Ms. Pia SinghIndependent Director
Ms. Lisa J BrownIndependent Director
Mr. T S BalganeshIndependent Director

FAQ

What is the intrinsic value of PI Industries Ltd (PIIND) and is it undervalued?

As of 07 April 2026, PI Industries Ltd (PIIND)'s intrinsic value is ₹1741.07, which is 38.80% lower than the current market price of ₹2,845.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (17.6 %), book value (₹714), dividend yield (0.56 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of PI Industries Ltd (PIIND)?

PI Industries Ltd (PIIND) is trading at ₹2,845.00 as of 07 April 2026, with a FY2026-2027 high of ₹4,330 and low of ₹2,700. The stock is currently near its 52-week low. Market cap stands at ₹43,162 Cr..

How does PI Industries Ltd (PIIND)'s P/E ratio compare to its industry?

PI Industries Ltd (PIIND) has a P/E ratio of 31.6, which is above the industry average of 25.27. The premium over industry average may reflect growth expectations or speculative interest.

Is PI Industries Ltd (PIIND) financially healthy?

Key indicators for PI Industries Ltd (PIIND): ROCE of 22.9 % indicates efficient capital utilization; ROE of 17.6 % shows strong shareholder returns. Dividend yield is 0.56 %.

Is PI Industries Ltd (PIIND) profitable and how is the profit trend?

PI Industries Ltd (PIIND) reported a net profit of ₹1,660 Cr in Mar 2025 on revenue of ₹7,978 Cr. Compared to ₹844 Cr in Mar 2022, the net profit shows an improving trend.

Does PI Industries Ltd (PIIND) pay dividends?

PI Industries Ltd (PIIND) has a dividend yield of 0.56 % at the current price of ₹2,845.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in PI Industries Ltd (PIIND). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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