Revenue for the period under review was Rs 1,702.3 crore, down 10% YoY. The company has recorded 12% volume growth and 3% revenue growth in the domestic business, with biologicals recording aggressive growth. Pricing remained under pressure and delayed monsoon has led to partial postponment of sales.

Agchem exports dropped by 12% in value terms and by 8% in volume terms, primarily due to soft demand in global agrochemical industry. PI Health Sciences (PIHS) revenue fell by 25% YoY mainly due to customer order phasing.

Total operating expenditure fell by 3.4% to Rs 1,334.90 crore in Q1 FY27 over Q1 FY26, as lower raw material costs (down 10% YoY) more than offset higher finished goods purchases (up 25.1% YoY) and higher employee expenses (up 12.3% YoY).

While EBITDA declined by 29% year-on-year (YoY) to Rs 369.3 crore, EBITDA margin contracted by 577 basis points YoY to 22% in the June'26 quarter.

Profit before tax in Q1 FY27 stood at Rs 321.80 crore, down 36.6% from Rs 507.40 crore in Q1 FY26.

PI Industries is a leading player in custom synthesis manufacturing (CSM) exports and in the domestic agricultural inputs sector, which is primarily agrochemicals and plant nutrients. In the CSM exports segment, its business interests include dealing in custom synthesis and contract manufacturing of chemicals, which constitutes techno commercial evaluation of chemical processes, process development, lab and pilot scale-up, as well as commercial production.