PI Inds slips as Q3 PAT declines 17% YoY to Rs 373 crore

PI Industries slipped 3.10% to Rs 3,527.60 after the company's consolidated net profit declined 16.92% to Rs 372.7 crore in Q3 FY25, compared with Rs 220.65 crore recorded in Q3 FY24.

However, revenue from operations grew marginally by 0.17% YoY to Rs 1,900.8 crore in the quarter ended 31 December 2024.

Domestic revenues grew by 5% YoY, with volume up by approximately 7%. Biological products drove growth, with revenue increasing by 20% YoY.

Agchem exports saw a growth of approximately 2% with volume growth of 5%. The performance of new products was a key contributor, with revenue from new products growing by around 40% YoY. Pharma exports contributed approximately 4% of the overall exports.

The firms increase in overheads was attributed to promotion expenses for the launch of new products, as well as adding resources to build the Pharma2 business and integrate PHC.

EBITDA redused by 8% to Rs 512.2 crore in Q3 of FY25 from Rs 555 crore in the same quarter last year. EBITDA margin reduced to 27% in Q3 FY25 as against 29% recorded in Q3 FY24.

Gross margin declined to 53% in Q3 FY25, down from 54% in Q3 FY24, a reduction of approximately 85 bps YoY.

On a nine-month basis, the companys consolidated net profit advanced 1.35% to Rs 1,329.7 crore on a 4.49% rise in revenue from operations to Rs 6,190.7 crore in 9M FY25 over 9M FY24.

PI Industries operates in the domestic agricultural inputs and custom synthesis manufacturing (CSM) exports segments. It is a leading player in the domestic agricultural inputs sector, primarily dealing in agrochemicals and plant nutrients.

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