Shares of PI Industries Limited came under pressure in Friday’s session, declining more than 3%, after reports indicated that its major global customer Kumiai Chemical Industry Co., Ltd. has lowered its financial guidance for FY26.
On the National Stock Exchange of India, PI Industries shares were trading around ₹2,858.80, down 3.17% compared with the previous close of ₹2,952.40. The stock opened at ₹2,940.10 and slipped to an intraday low of ₹2,840.10 during the session.
The decline follows reports that Kumiai Chemical has cut its FY26 revenue guidance by about 5% and slashed operating profit guidance by 32%, according to Bloomberg.
Why Kumiai matters for PI Industries
Kumiai Chemical is considered one of the largest customers of PI Industries, particularly in the company’s custom synthesis and manufacturing (CSM) business, which caters to global agrochemical innovators.
Any slowdown in Kumiai’s business outlook is closely tracked by investors because it could potentially affect order visibility and demand outlook for PI Industries’ export-oriented agrochemical manufacturing segment.
About Kumiai Chemical
Kumiai Chemical Industry Co., Ltd., headquartered in Japan, is a global agrochemical company engaged in the development, manufacture and sale of crop protection products such as herbicides, fungicides and insecticides.
The company is known for developing innovative herbicides and active ingredients used in agriculture worldwide, and it collaborates with global partners for manufacturing and supply.
PI Industries has long-standing relationships with several global agrochemical innovators, including Kumiai, supplying customised active ingredients and intermediates through its contract manufacturing capabilities.