Hebei Lansheng Biotech Co., Ltd. ShangHai Yuelian Biotech Co., Ltd.

PI Industries achieved all time high Revenue & EBIDTA in a Quarterqrcode

−− Growth momentum continues in Q3FY22 with 17% Y-o-Y revenue growth

Feb. 17, 2022

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Feb. 17, 2022


Net sales of Indian agrochemical company, PI Industries, were up by 16.71% YoY from Rs. 1,162.10 crore to Rs 1,356.30 crore in the Q3 which ended December 31, 2021. Quarterly net profit rose 13.92% from Rs. 195.40 crore to Rs. 222.60 crore. EBITDA stands at Rs. 297 crore, up 8%.


According to the company, the trend of rising input costs continued…. pass through partially effected by hiking selling prices both in Global Agchem Exports and Domestic segment during Q3. Despite this situation, the company still achieved 19% growth in exports and 8% growth in the domestic segment in Q3. However, lower export incentives, partial cost pass through, etc. marginally impacted the gross margin despite favourable product mix. Overheads increase of 24% is mainly attributable to sharp increase in fuel and related utilities, shipping costs and one-time expenses pertaining to strategic initiatives.

PI Industries posted 24% growth in exports in the first nine months. While, domestic sales were down by 3% because of unfavourable agroclimatic conditions in the Kharif season. Net profit improved by 14% YoY on a very high base of ~60% YoY growth in 9M FY21.




PI Industries expects to maintain original guidance of over 15% revenue growth in FY22 and resolutely progressing on that path. In the domestic market, demand in Q4 is expected to be good for insecticides, fungicides and bio-nutrients owing to robust commodity prices and positive crop sentiments. Rice insecticide and a specialty fungicide in horticulture that received regulatory approval are expected to be launched in Q4.

The company’s Global Agchem Exports will be driven by R&D focused approach. The company planned to launch 3 new molecules in Q4. The momentum in new enquiries and conversion will continue. Price correction impact will be reflected in the coming quarters.

Progress on new technology projects remains in line with plan. One new process innovation will be commercialized in Q4. Discussions progressed well with global innovators for development partnership of 2 promising leads. One novel fungicide and a novel broad spectrum insecticide have sizable potential market opportunity.

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Source: AgroNews


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