PI Industries stock plummets after steep profit drop
PI Industries shares fell 10% on November 5, reaching a 52-week low of Rs 1,968.15 after disclosing a 70.1% drop in net profit for the September quarter. The company’s net profit shrank to Rs 122 crore, compared with Rs 409 crore in the same period the prior year. While the broader market climbed, with the BSE Sensex up 1.6% to 78,550, PI’s stock hit its lowest intraday level.
Operating revenue also declined, dropping 9.1% to Rs 1,702 crore from Rs 1,872 crore in the year-ago quarter. The company’s profitability further eroded, as EBITDA fell 57% to Rs 232.7 crore, and margins contracted from 28.9% to 13.7%.
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This performance decline is not limited to the latest quarter. Over the past week, the stock has dropped 6.72%, while monthly losses now stand at 11.08%. The downward trend extends further: the stock has fallen 30.08% over three months, 34.62% over six months, and 38.86% this year. On a one-year basis, shares are down 46.56%, with deeper losses over two (56.60%) and three years (43.60%). Despite this volatility, the stock has still risen 134.58% since 2016.
Established in 1946, PI Industries operates in agrochemicals, specialty chemicals, biologicals, and pharmaceuticals, serving more than 40 countries. Its AgSciences segment focuses on crop protection, while Health Sciences offers contract manufacturing and research services.
