PI Industries share price slumped 7% on NSE in Wednesday’s trading session after the company reported weak financial results for the quarter ended March 31, 2026.
The stock opened at ₹2,950 apiece today as compared to the previous close of ₹3,124 per share on Tuesday. It soon touched an intraday low of ₹2,860.10.
PI Industries Q4 results 2026
For the March quarter, reported a 12% year-on-year (YoY) decline in revenue to ₹1,565 crore, broadly in line with market expectations.
The company’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) fell 26% to ₹337 crore during the quarter, compared to the Street’s expectation of a 19% decline from the previous year. EBITDA margin narrowed to 21.5% from 25.4% a year ago, missing analyst estimates of 23%.
Meanwhile, net profit dropped 39% YoY to ₹200 crore from ₹331 crore, a steeper fall than estimated by analysts. For instance, Kotak Equities had projected a 23% decline in the bottomline.
For the full financial year, the decline in revenue and EBITDA was largely in line with expectations. A favourable product mix helped limit the margin contraction to 200 basis points, bringing margins to 25%, in line with estimates.
Segment-wise, PI Industries’ agrochemical exports declined 19% year-on-year, while volumes dropped 14% due to a high base effect.
Domestic revenue decreased 7% from the previous year, with volumes down 1% owing to adverse weather conditions, weaker crop prices, regulatory disruptions in the biologicals segment, and higher channel inventory levels.
PI Industries share price trend
has largely remained negative in the near term amid weak market sentiments. The stock has fallen by over 4.38% in a week and 4% in a month.
Furthermore, the stock has descended 9.38% on a year-to-date (YTD) basis and 22% in a year.
PI Industries shares have failed to impress long-term investors by plunging 11% in three years. However, the stock has delivered 13% returns in five years.
PI Industries share price: Should you buy or sell?
Brokerage firm Motilal Oswal has assigned a ‘buy’ call with a target price of ₹3,125 apiece, saying weak operating performance was due to adverse operating leverage.
“Agrochemicals business revenue declined 14% YoY to INR14.6b, and Pharma business revenue rose 23% YoY to INR1b. EBITDA stood at INR3.4b (est. INR3.8b), declining 26% YoY. EBITDA margins contracted 400bp YoY to 21.5% (est. 24.1%); gross margins stood at 58% (up 280bp YoY); employee expenses rose 350bp YoY to 14.5%; other expenses rose 330bp YoY to 21.8% of sales,” the firm said in a note.
Meanwhile, on the technical outlook, Anshul Jain, Head of Research at Lakshmishree, said that PI Industries has been defending the 2850 zone for nearly 172 weeks, forming a long-term triple bottom structure that reflects strong demand absorption at lower levels.
“The current price action marks the fourth test of this crucial support band, making it a decisive inflection point for the broader trend. Despite repeated retests, the inability of bears to break the zone suggests underlying strength and exhaustion of selling pressure. A decisive breach below 2750 could trigger a sharp selloff, though current structure indicates that scenario appears less likely. Any bullish confirmation around the 2850–2900 region would offer a favourable risk-reward long setup, with upside potential toward the 3150 zone,” Jain said.
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