PI Industries

PI Industries reported Q3 FY26 revenue of ₹1,376 croreCurrent reported value: ₹1,376 crore. No comparable prior figure is available in the source record., reflecting continued global agrochemical headwinds. The CSM export business saw volume-led moderation due to slow demand and customer rescheduling, though new product growth of 10%Current 10%. Reported change: +10% YoY. in 9M FY26 demonstrates pipeline progress. Domestic demand remained subdued due to high channel inventory and low commodity prices. Gross margin expanded to 59%Current 59%. Reported change: +700bps YoY. on favorable mix and cost discipline, while EBITDA margin for 9M stood at 27%Current reported value: 27%. No comparable prior figure is available in the source record.. Management expects sequential recovery from Q4 FY26, with growth momentum building into FY27 as industry conditions stabilize. The order book stands at $1.2 billionCurrent $1.2 billion. Reported change: flat.. Key risk: prolonged global demand weakness could delay the expected recovery trajectory.