PI Industries Ltd.
PIINDCommodities filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
22 transcript(s)/analyst meet(s) served; 2 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 22 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220523 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220811 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221116 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230222 | 2022-12-31 | yes | |
| COVER_LETTER | 20230503 | 2023-03-31 | no | |
| TRANSCRIPT | 20230509 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230526 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230817 | 2023-06-30 | yes | |
| TRANSCRIPT | 20230818 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231116 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240219 | 2023-12-31 | yes | |
| COVER_LETTER | 20240523 | 2024-03-31 | no | |
| TRANSCRIPT | 20240528 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240814 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241120 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250214 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250526 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250821 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251119 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260220 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260526 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260818 | 2026-06-30 | yes |
PIIND
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 2,393.50 |
| 52-week range | 2255.0 – 3820.5 |
| Return 1M | -4.57% |
| Return 3M | -10.85% |
| Return 1Y | -34.05% |
| Return 3Y | -29.46% |
| Return 5Y | -25.29% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 1,702.00 |
| Other income | 64.00 |
| Total income | 1,766.00 |
| Cost of materials consumed | 682.00 |
| Purchases of stock-in-trade | 42.00 |
| Changes in inventories | 12.00 |
| Employee benefit expense | 261.00 |
| Finance costs | 8.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.46 | 0.00 |
| institutions foreign | 0.15 | -0.01 |
| institutions domestic | 0.32 | 0.00 |
| mutual funds | 0.22 | 0.01 |
| public | 0.54 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2024-03-31 | 2 |
| TRANSCRIPT | 2026-06-30 | 20 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,770.00 | 1,613.00 | 1,566.00 | 1,910.00 | 2,117.00 | 1,898.00 | 1,741.00 | 2,069.00 | 2,221.00 | 1,901.00 | 1,787.00 | 1,900.00 | 1,872.00 | 1,376.00 | 1,565.00 | 1,702.00 |
| Other income | 32.00 | 50.00 | 50.00 | 47.00 | 47.00 | 56.00 | 58.00 | 73.00 | 122.00 | 76.00 | 73.00 | 86.00 | 82.00 | 67.00 | 76.00 | 64.00 |
| Total income | 1,802.00 | 1,663.00 | 1,615.00 | 1,957.00 | 2,164.00 | 1,954.00 | 1,799.00 | 2,142.00 | 2,343.00 | 1,977.00 | 1,860.00 | 1,986.00 | 1,955.00 | 1,442.00 | 1,641.00 | 1,766.00 |
| Cost of materials consumed | 971.00 | 745.00 | 849.00 | 972.00 | 977.00 | 780.00 | 850.00 | 848.00 | 916.00 | 787.00 | 773.00 | 757.00 | 892.00 | 672.00 | 669.00 | 682.00 |
| Purchases of stock-in-trade | 55.00 | 36.00 | 35.00 | 68.00 | 115.00 | 42.00 | 38.00 | 28.00 | 81.00 | 44.00 | 25.00 | 34.00 | 82.00 | 36.00 | 16.00 | 42.00 |
| Changes in inventories | -56.00 | 72.00 | -20.00 | -18.00 | 39.00 | 59.00 | -84.00 | 121.00 | 74.00 | 68.00 | 5.00 | 18.00 | -174.00 | -144.00 | -25.00 | 12.00 |
| Employee benefit expense | 134.00 | 133.00 | 134.00 | 174.00 | 164.00 | 186.00 | 178.00 | 200.00 | 196.00 | 191.00 | 197.00 | 232.00 | 220.00 | 228.00 | 227.00 | 261.00 |
| Finance costs | 11.00 | 9.00 | 3.00 | 4.00 | 8.00 | 7.00 | 11.00 | 8.00 | 8.00 | 8.00 | 8.00 | 4.00 | 3.00 | 6.00 | 4.00 | 8.00 |
| Depreciation and amortisation | 56.00 | 57.00 | 58.00 | 70.00 | 80.00 | 78.00 | 80.00 | 83.00 | 80.00 | 99.00 | 90.00 | 96.00 | 98.00 | 105.00 | 107.00 | 104.00 |
| Other expenses | 234.00 | 212.00 | 224.00 | 247.00 | 271.00 | 277.00 | 317.00 | 288.00 | 326.00 | 299.00 | 332.00 | 340.00 | 310.00 | 281.00 | 342.00 | 338.00 |
| Total expenses | 1,405.00 | 1,264.00 | 1,284.00 | 1,517.00 | 1,654.00 | 1,429.00 | 1,390.00 | 1,577.00 | 1,681.00 | 1,496.00 | 1,430.00 | 1,482.00 | 1,432.00 | 1,185.00 | 1,339.00 | 1,446.00 |
| Profit before exceptional items and tax | 396.00 | 400.00 | 331.00 | 441.00 | 510.00 | 524.00 | 409.00 | 564.00 | 662.00 | 480.00 | 431.00 | 505.00 | 523.00 | 257.00 | 302.00 | 320.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 105.00 | -2.00 | 0.00 |
| Profit before tax | 396.00 | 400.00 | 331.00 | 441.00 | 510.00 | 524.00 | 409.00 | 564.00 | 662.00 | 480.00 | 431.00 | 505.00 | 523.00 | 362.00 | 300.00 | 320.00 |
| Current tax | 72.00 | 79.00 | 61.00 | 81.00 | 111.00 | 98.00 | 77.00 | 101.00 | 137.00 | 86.00 | 88.00 | 92.00 | 114.00 | 65.00 | 65.00 | 73.00 |
| Deferred tax | -10.00 | -30.00 | -9.00 | -18.00 | -79.00 | -20.00 | -35.00 | 16.00 | 17.00 | 22.00 | 14.00 | 16.00 | 2.00 | -14.00 | 36.00 | 5.00 |
| Tax expense | 63.00 | 48.00 | 52.00 | 62.00 | 32.00 | 77.00 | 42.00 | 118.00 | 155.00 | 108.00 | 102.00 | 107.00 | 116.00 | 52.00 | 100.00 | 78.00 |
| Profit for the period | 335.00 | 352.00 | 281.00 | 383.00 | 480.00 | 449.00 | 370.00 | 449.00 | 508.00 | 373.00 | 330.00 | 400.00 | 409.00 | 311.00 | 200.00 | 244.00 |
| Profit attributable to owners | 335.00 | 352.00 | 281.00 | 383.00 | 480.00 | 449.00 | 370.00 | 454.00 | 499.00 | 318.00 | 378.00 | 443.00 | 378.00 | 311.00 | 160.00 | 276.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -22.00 | 2.00 | 14.00 | 28.00 | -25.00 | 19.00 | 2.00 | 6.00 | -9.00 | -55.00 | 48.00 | 43.00 | -31.00 | 8.00 | -41.00 | 32.00 |
| Total comprehensive income | 313.00 | 354.00 | 295.00 | 411.00 | 456.00 | 468.00 | 371.00 | 454.00 | 499.00 | 318.00 | 378.00 | 443.00 | 378.00 | 319.00 | 160.00 | 276.00 |
| Earnings per share, basic | 22.07 | 23.20 | 18.49 | 25.24 | 31.67 | 29.59 | 24.36 | 29.59 | 33.51 | 24.55 | 21.79 | 26.37 | 26.98 | 20.52 | 13.20 | 16.10 |
| Earnings per share, diluted | 22.06 | 23.20 | 18.50 | 25.24 | 31.66 | 29.58 | 24.35 | 29.59 | 33.50 | 24.55 | 21.78 | 26.36 | 26.98 | 20.52 | 13.20 | 16.10 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,366.00 | 4,577.00 | 5,300.00 | 6,492.00 | 7,666.00 | 7,978.00 | 6,714.00 |
| Other income | 49.00 | 125.00 | 101.00 | 159.00 | 208.00 | 344.00 | 311.00 |
| Total income | 3,415.00 | 4,702.00 | 5,401.00 | 6,651.00 | 7,874.00 | 8,322.00 | 7,024.00 |
| Cost of materials consumed | 1,688.00 | 2,508.00 | 2,951.00 | 3,434.00 | 3,579.00 | 3,325.00 | 2,990.00 |
| Purchases of stock-in-trade | 162.00 | 164.00 | 174.00 | 188.00 | 263.00 | 178.00 | 168.00 |
| Changes in inventories | -2.00 | -101.00 | -202.00 | -70.00 | -4.00 | 268.00 | -325.00 |
| Employee benefit expense | 321.00 | 417.00 | 480.00 | 527.00 | 701.00 | 784.00 | 908.00 |
| Finance costs | 17.00 | 28.00 | 13.00 | 37.00 | 30.00 | 33.00 | 16.00 |
| Depreciation and amortisation | 137.00 | 175.00 | 202.00 | 226.00 | 308.00 | 352.00 | 407.00 |
| Other expenses | 480.00 | 577.00 | 754.00 | 871.00 | 1,112.00 | 1,244.00 | 1,273.00 |
| Total expenses | 2,802.00 | 3,768.00 | 4,372.00 | 5,214.00 | 5,989.00 | 6,184.00 | 5,437.00 |
| Profit before exceptional items and tax | 613.00 | 934.00 | 1,029.00 | 1,438.00 | 1,884.00 | 2,138.00 | 1,587.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 103.00 |
| Profit before tax | 613.00 | 934.00 | 1,029.00 | 1,438.00 | 1,884.00 | 2,138.00 | 1,690.00 |
| Current tax | 126.00 | 175.00 | 195.00 | 265.00 | 366.00 | 412.00 | 335.00 |
| Deferred tax | 31.00 | 25.00 | -6.00 | -50.00 | -152.00 | 69.00 | 40.00 |
| Tax expense | 157.00 | 200.00 | 189.00 | 215.00 | 213.00 | 482.00 | 375.00 |
| Profit for the period | 457.00 | 738.00 | 844.00 | 1,230.00 | 1,682.00 | 1,660.00 | 1,321.00 |
| Profit attributable to owners | 401.00 | 808.00 | 0.00 | 1,230.00 | 1,682.00 | 1,650.00 | 1,300.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -56.00 | 70.00 | 8.00 | -38.00 | 24.00 | -10.00 | -20.00 |
| Total comprehensive income | 401.00 | 808.00 | 852.00 | 1,191.00 | 1,706.00 | 1,650.00 | 1,300.00 |
| Earnings per share, basic | 33.08 | 49.92 | 55.65 | 81.06 | 110.85 | 109.44 | 87.06 |
| Earnings per share, diluted | 33.08 | 49.89 | 55.63 | 81.04 | 110.83 | 109.42 | 87.06 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 8,585.00 | 8,480.00 | 10,127.00 | 10,764.00 | 11,995.00 | 12,277.00 | 13,301.00 | 13,444.00 |
| Non-current assets | 2,654.00 | 2,817.00 | 3,811.00 | 4,086.00 | 4,756.00 | 5,324.00 | 5,321.00 | 5,949.00 |
| Current assets | 5,931.00 | 5,662.00 | 6,316.00 | 6,678.00 | 7,239.00 | 6,952.00 | 7,980.00 | 7,495.00 |
| Property, plant and equipment | 2,289.00 | 2,494.00 | 2,741.00 | 2,954.00 | 2,929.00 | 3,318.00 | 3,334.00 | 3,678.00 |
| Capital work-in-progress | 110.00 | 62.00 | 237.00 | 173.00 | 471.00 | 384.00 | 610.00 | 755.00 |
| Goodwill | 83.00 | 83.00 | 360.00 | 361.00 | 533.00 | 554.00 | 576.00 | 603.00 |
| Other intangible assets | 34.00 | 28.00 | 220.00 | 213.00 | 390.00 | 336.00 | 328.00 | 339.00 |
| Inventories | 1,610.00 | 1,398.00 | 1,400.00 | 1,301.00 | 1,165.00 | 984.00 | 1,212.00 | 1,217.00 |
| Trade receivables | 1,476.00 | 838.00 | 1,666.00 | 1,091.00 | 1,804.00 | 1,833.00 | 2,486.00 | 2,320.00 |
| Cash and cash equivalents | 523.00 | 873.00 | 698.00 | 886.00 | 814.00 | 592.00 | 491.00 | 283.00 |
| Total equity and liabilities | 8,585.00 | 8,480.00 | 10,127.00 | 10,764.00 | 11,995.00 | 12,277.00 | 13,301.00 | 13,444.00 |
| Equity | 6,618.00 | 7,198.00 | 7,982.00 | 8,731.00 | 9,545.00 | 10,157.00 | 10,827.00 | 11,230.00 |
| Equity share capital | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 |
| Other equity | 6,602.00 | 7,183.00 | 7,967.00 | 8,716.00 | 9,530.00 | 10,142.00 | 10,812.00 | 11,215.00 |
| Total liabilities | 1,968.00 | 1,281.00 | 2,145.00 | 2,033.00 | 2,450.00 | 2,120.00 | 2,474.00 | 2,213.00 |
| Non-current liabilities | 260.00 | 99.00 | 289.00 | 322.00 | 356.00 | 392.00 | 504.00 | 436.00 |
| Current liabilities | 1,707.00 | 1,182.00 | 1,856.00 | 1,711.00 | 2,094.00 | 1,728.00 | 1,970.00 | 1,777.00 |
| Borrowings, non-current | 130.00 | 0.00 | 27.00 | 62.00 | 54.00 | 78.00 | 140.00 | 149.00 |
| Borrowings, current | 106.00 | 0.00 | 99.00 | 66.00 | 54.00 | 34.00 | 36.00 | 89.00 |
| Trade payables | 1,111.00 | 838.00 | 1,204.00 | 1,148.00 | 1,334.00 | 1,210.00 | 1,327.00 | 974.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 308.00 | 1,501.00 | 670.00 | 2,036.00 | 801.00 | 1,413.00 | 248.00 | 474.00 |
| Net cash from investing activities | -25.00 | -496.00 | -755.00 | -1,800.00 | -688.00 | -1,424.00 | -229.00 | -614.00 |
| Net cash from financing activities | -110.00 | -483.00 | -90.00 | -222.00 | -188.00 | -286.00 | -129.00 | -171.00 |
| Purchase of property, plant and equipment | 131.00 | 326.00 | 295.00 | 620.00 | 384.00 | 850.00 | 448.00 | 1,118.00 |
| Net increase in cash | 173.00 | 522.00 | -175.00 | 14.00 | -73.00 | -294.00 | -102.00 | -309.00 |
| con:CFO.BEFORE_TAX | 420.00 | 1,757.00 | 825.00 | 2,411.00 | 982.00 | 1,797.00 | 429.00 | 839.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 112.00 | 256.00 | 155.00 | 375.00 | 181.00 | 384.00 | 181.00 | 365.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -355.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 4.00 | 0.00 | 1.00 | 9.00 | 12.00 | 11.00 | 11.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 634.00 | 356.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 46.09 | 46.09 | 46.09 | 46.09 | 46.09 | 46.09 | 46.09 | 46.09 | 46.09 | 46.09 | 0.46 | 0.46 | 0.46 | 0.46 |
| Domestic institutions | 24.21 | 23.95 | 23.28 | 23.15 | 24.34 | 26.00 | 26.36 | 27.21 | 27.57 | 29.35 | 0.30 | 0.31 | 0.31 | 0.32 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 19.33 | 0.20 | 0.22 | 0.22 | 0.22 |
| Insurance companies | 6.91 | 6.12 | 4.74 | 5.56 | 8.14 | 9.68 | 9.95 | 9.98 | 9.50 | 8.86 | 0.09 | 0.08 | 0.09 | 0.08 |
| Foreign institutions | 18.59 | 19.17 | 20.01 | 20.41 | 20.26 | 18.76 | 19.02 | 18.46 | 18.05 | 16.97 | 0.16 | 0.16 | 0.16 | 0.15 |
| Government | — | — | — | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 |
| Public | 53.89 | 53.89 | 53.89 | 53.89 | 53.90 | 53.90 | 53.90 | 53.90 | 53.90 | 53.90 | 0.54 | 0.54 | 0.54 | 0.54 |
| Non-institutional | 11.09 | 10.77 | 10.60 | 10.33 | 9.29 | 9.14 | 8.53 | 8.23 | 8.28 | 7.58 | 0.07 | 0.07 | 0.07 | 0.07 |
| Shares outstanding | 151718118 | 151718118 | 151718118 | 151718118 | 151718118 | 151718118 | 151718118 | 151718118 | 151718118 | 151718118 | 151718118 | 151718118 | 151718118 | 151718118 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| PI Industries Management Consultancies LLC | Subsidiary | Investment | 3,948,760,000.00 | 1 |
| Plant Health Care | Subsidiary | Any other transaction, Investment, Loan | 3,885,950,000.00 | 3 |
| PI Health Sciences Limited | Subsidiary | Any other transaction, Interest received, Investment | 979,960,000.00 | 6 |
| PI Health Sciences NL BV | Subsidiary | Any other transaction, Interest received, Investment | 704,990,000.00 | 4 |
| Archimica | Subsidiary | Any other transaction, Interest received, Investment | 575,440,000.00 | 5 |
| Mr. Mayank Singhal | Vice Chairperson & Managing Di | Any other transaction, Dividend paid, Remuneration | 351,870,000.00 | 3 |
| Mrs. Madhu Singhal | Promoters - Relative of Key Manage | Any other transaction, Dividend paid | 240,300,000.00 | 2 |
| PI Kumiai Private Limited | Joint venture | Any other transaction, Purchase of goods or services | 212,460,000.00 | 5 |
| PI Foundation | Other related party | Any other transaction | 146,400,000.00 | 3 |
| Mr. Salil Singhal | Promoters - Relative of Key Manage | Any other transaction, Dividend paid, Purchase of go | 118,420,000.00 | 4 |
| Mr. Rajnish Sarna | Joint Managing Director | Any other transaction, Dividend paid, Remuneration | 34,730,000.00 | 3 |
| Mr. Anil Kumar Jain | Managing Director - Subsidiary | Any other transaction, Remuneration | 27,110,000.00 | 2 |
| PI Japan Co Ltd | Subsidiary | Purchase of goods or services | 26,070,000.00 | 1 |
| PI Life Science and Research Limited | Subsidiary | Any other transaction, Purchase of goods or services | 24,660,000.00 | 3 |
| Mr. Rafael Julio Del Rio Donoso | Non-Executive (Non-Independent) Di | Remuneration | 20,490,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-18 | Q1FY27 | Read the call | |
| 2026-05-26 | Q4FY26 | Read the call | |
| 2026-02-20 | Q3FY26 | Read the call | |
| 2025-11-19 | Q2FY26 | Read the call | |
| 2025-08-21 | Q1FY26 | Read the call | |
| 2025-05-26 | Q4FY25 | Read the call | |
| 2025-02-14 | Q3FY25 | Read the call | |
| 2024-11-20 | Q2FY25 | Read the call | |
| 2024-08-14 | Q1FY25 | Read the call | |
| 2024-05-28 | Q4FY24 | Read the call | |
| 2024-02-19 | Q3FY24 | Read the call | |
| 2023-11-16 | Q2FY24 | Read the call | |
| 2023-08-18 | Q1FY24 | Read the call | |
| 2023-08-17 | Q1FY24 | Read the call | |
| 2023-05-26 | Q4FY23 | Read the call | |
| 2023-05-09 | Q4FY23 | Read the call | |
| 2023-02-22 | Q3FY23 | Read the call | |
| 2022-11-16 | Q2FY23 | Read the call | |
| 2022-08-11 | Q1FY23 | Read the call | |
| 2022-05-23 | Q4FY22 | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | You mentioned some commentary on the CAPEX front. | 100 crore CAPEX in nine-months FY25. So, when do you expect that to start contributing to the top-line or margins if that was for the backward integra… | Secondly, just on the CAPEX side, we were working on 2 multipurpose plants, and now we have expanded that to 3 multipurpose plants, and we have also s… | There are different categories of Capex, there is maintenance Capex, there is Capex towards some of the research side and capital efficiently and proc… | And what are the capex plans for the company for the next couple of years? | So, the entire development spends, has it been completed in FY24 and given that we have done capex of Rs. | Or that is still some time away and probably nominal CAPEX will do here? | My question is on the capex that we have incurred over the last three years, which translates to almost like a INR 2,600 crore of capex, but we are no… |
| Capital allocation | — | My first question is on the pharma products that we were developing under PI umbrella before the acquisition of the new pharma business. | — | Sir, another is on our pharma acquisition, any lead you can provide us. | We have circulated the relevant documents pertaining to the acquisition on April 27, 2023. | Sir, after 1 year of acquisition of Pharma. | — | — |
| Costs | — | — | — | — | So, it must be because of better utilization and operating cost savings. | — | Yes, there is obviously some price softening and that is on the basis of input cost softening. | You see, given the present environment, the volatility of the various factors, whether it is input costs or whether it is other cost structures and ch… |
| Debt and cash | — | — | So, my second question, Sanjay, if you can throw some light, there has been an increase in the working capital quite sharply, almost from 68 days to 1… | — | If you could help us with the breakdown between, say, the goodwill, fixed assets, working capital and also any debt that you might be acquiring as par… | First question, on the working capital side. | Sir, actually I wanted to understand the working capital cycle. | — |
| Demand | We are doing the same for this business and we are focusing on the innovative pipeline. | Besides, some of the earlier development projects we were working on are now part of the overall development pipeline in pharma. | So let me put it, as we said, there is still the demand softness, but we are definitely seeing recovery. | But over a period of time, these prices are always inflationary, in fact, are always factored in the pricing and in the demand. | TRM R&D team works closely with the marquee publicly listed US biotech companies and big pharma companies based in Asia Pacific in developing their pr… | Yes, over one-third of the new products are coming from non-agchem space if we talk about new enquiries, R&D pipeline, etc. These non-agchem segments … | It depends on demand, supply, market situation, positioning. | This is subject to asset utilization, value of products in the pipeline. |
| Guidance | So, what kind of CAPEX intensity we should expect in FY25 and what could be your guidance going into FY25, sir? | We anticipate that once this business model stabilises in approximately the next year, we will experience growth of 20% to 25% year-on-year in the for… | Would you also give out a guidance on what kind of gross margin do you expect on a sustainable basis? | 500 crore Capex plans, can you guide us any further Capex plans for future? | We expect to close the acquisition of TRM and Solis by end of the May 2023. | In terms of margins, till the time we complete this development phase, it is difficult to clearly indicate the numbers but once we complete this devel… | We expect to commercialize in the very first country in the next couple of years. | So, would we expect further reduction over here to like FY25 year-ending levels and how should we look at this number on a steady-state basis? |
| Margin | Since the inventory cost related to that material was already accounted for in the previous quarter, this one-time gain and its impact on gross margin… | And a concurrent question on the pharma business is, where are we currently in terms of the margin profile, both on gross and EBITDA level? | So, on a yearly basis is when we can talk with more clarity and whatever gross margin benefits we get, it helps us in planned investment in our new bu… | Sir, in the past you had told that many of the CSM contracts we have more like a per kilo margin or a per ton margin is what we operate with. | TRM had consolidated revenue of $33 million, with a normalized EBITDA of $14 million for the year ended 31 March 2022. | We have seen that there is a strong almost 450 bps expansion in gross margins during FY24 and that has led to further EBITDA margin expansion. | As we indicated earlier, we continue to keep those guidelines around 25% as our EBITDA margins on a long-term sustainable basis. | So, as you know, with all the new molecules we have been launching, they contribute now around 18% of our total portfolio and they also have been grow… |
| People | The major focus is on the investment in the technologies in the coming years, and of course we have been continuously working on our capacity utilizat… | — | This is a mix of how asset utilization, capacity utilization, customer contract mechanisms work. | Sir, one final question on the asset utilizations, you had mentioned that we could be doing more than what the asset tons that we were historically do… | My first question is, what is the capacity utilization of Archimica? | — | — | Would you be able to share what the capacity utilization would be at a company level for FY26? |
| Pricing | How much pricing erosion we have seen, do we have some market intelligence for the markets where the product has become generic like Australia or Arge… | First question is on the AgChem space, so based on your interaction, generally from the industry, the inventory and pricing trends, so is it still in … | My first question is, have you seen some kind of a price realization impacting some of our key products, I just wanted to understand how the pricing o… | So, just want to understand whether 18% to 20% is, because there will be a pricing led inflationary increase there as well, so this 18% to 20% how sho… | Also, one question is that from a point where we were trying to look at assets which are very, very costly and now we have kind of quoted at relativel… | There's no decline in the price realisation decline; only supply deferment. | So, what is the thought process for the 70% of the CSM business, which is the not the new products one, what is the volume v/s pricing thought there, … | First question on the overall pricing environment, given the volatility in raw material prices off late and the pressure from Chinese-led, you know, t… |
| Revenue growth | Even in our exports, we have seen that because of the growth of new PI External projects. | The growth of the business does not stem solely from the order book; there are both annual PO and long-term businesses to consider. | Or do you even expect a revenue growth or a value growth in the fourth quarter? | But this inflationary scenario we have maintained top line growth, we also expanded margins, slightly counterintuitive in terms of our past understand… | If they are able to deliver and $25 million will be paid to them, can you give some quantification or quantify these numbers that will be added to the… | Number two, revenue growth will continue during this period. | How should we be thinking about the growth of these new molecules in FY26 or even FY27? | In the opening remarks, when you mentioned you are looking at positive growth in fiscal ‘27, would that be positive revenue growth or positive earning… |