Shares of PI Industries Ltd slipped over 2% in Wednesday’s trading session after the agrochemical major reported a sharp year-on-year (YoY) decline in its second-quarter (Q2 FY26) earnings. The company’s results reflected pressure on both revenue and profitability amid a challenging demand environment. As of 9:29 AM, the shares were trading 1.79% lower at Rs 3,719.10.
For the quarter ended September 2025, PI Industries reported a 15.7% drop in consolidated revenue to ₹1,872 crore, compared to ₹2,221 crore in the same quarter last year. The fall in topline indicates continued headwinds in the global agrochemicals market and softer demand across key geographies.
The company’s EBITDA also declined 13.8% year-on-year to ₹541 crore, down from ₹628 crore a year ago. Despite the fall in absolute numbers, operating margins held relatively steady at 28.9%, compared to 28.3% last year, supported by cost optimization and a better product mix.
Meanwhile, net profit came in at ₹409 crore, marking a 19.5% decline from ₹508 crore in the corresponding period of the previous year.
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