āagman

Not investment advice. Data and computed figures, for information only.

P I Industries Ltd

NSE: PIINDF&O
₹2,203.80
−₹15.00 (−0.68%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹32,137 Cr
CMP
₹2,203.80
52-wk High / Low
₹3,833 / 2,100
P/E
29.8
P/B
2.9
Book Value
₹740.0
Div Yield
0.71%
ROCE
15.0%
ROE
11.2%
Face Value
₹1
D/E
0.03

Price−38.2% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
3
/ 9
3 of 9 F-score tests passed
Graham Number
₹1,204
√(22.5 × EPS × book value per share)
ROIC
8.9%
vs 7.5% sector median
Cash flow to profit
0.36
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−575
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
8.8%
ROE × earnings retention ratio
ROE stability
2.6
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −1.04DII +0.30
Latest quarter vs the previous one
Cash-accrual divergence
6.6%
of assets
Low = accruals track cash flow
Strengths
+PE of 29.8x is below the sector median of 36.2x
Watch-outs
−Borrowings are up 126.5% since FY2016 (151 to 342)
−Price trades below its 200-day moving average (0.8x)
−Price is 42.5% below its 52-week high
−Piotroski F-Score of 3/9 is in the weak band (≤3)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,9102,1171,8981,7412,0692,2211,9011,7871,9001,8721,3761,5651,702
Expenses1,4431,5661,3441,2991,4861,5931,3891,3321,3811,3311,0731,2281,335
Operating Profit468551554442583628512456519541302337367
OPM %24.5%26.0%29.2%25.4%28.2%28.3%26.9%25.5%27.3%28.9%21.9%21.5%21.6%
Other Income5249586075123767589851727466
Interest48711888843648
Depreciation70807880838099909698105107104
Profit before tax445512526411566663481432507525363300322
Net Profit383480449370449508373330400409311200244
EPS (₹)25.2431.6729.5724.3529.5833.5024.5721.7826.3626.9820.5213.2016.10

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,9402,0962,2772,2772,8413,3664,5775,3006,4927,6667,9786,7146,516
Expenses1,5581,6611,7221,7812,2612,6473,5594,1544,9485,6365,7724,9824,968
Operating Profit3824355554965807201,0181,1461,5442,0302,2061,7321,548
OPM %19.7%20.8%24.4%21.8%20.4%21.4%22.2%21.6%23.8%26.5%27.7%25.8%23.8%
Other Income353436605850129105166216345414397
Interest12129771934163944564320
Depreciation5054738393137175202226308352407414
Profit before tax3554035104665386149381,0331,4441,8952,1421,6961,510
Net Profit2463124593684104577388441,2301,6821,6601,3211,165
EPS (₹)18.0022.7233.3926.6629.7233.0648.6655.6281.04110.83109.4387.0676.80

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital141414141414151515151515—
Reserves8831,1571,6131,9112,2722,6055,3276,1057,1838,71610,14211,215—
Borrowings115151120834951937331646191184342—
Other Liabilities6226265546188201,0871,2871,3541,2351,8221,9081,832—
Total Liabilities1,6331,9492,3012,6263,1554,2257,0027,7918,48010,74412,24913,405—
Fixed Assets5338749459981,1861,8582,1382,4522,6063,5284,2094,620—
CWIP1337177901832712881141322785501,030—
Investments10831611291508729001,0161,3361,5311,360—
Other Assets9671,0031,1961,3781,6571,9463,7044,3254,7265,6015,9596,395—
Total Assets1,6331,9492,3012,6263,1554,2257,0027,7918,48010,74412,24913,405—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2191843673393193916987255291,5012,0361,413474
Cash from Investing Activity−50−146−303−235−180−322−985−2,430−110−496−1,800−1,421−612
Cash from Financing Activity−145−53−48−53−106−1253501,690−177−483−222−286−171
Net Cash Flow24−15165033−5663−1524152214−294−309

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %36.041.036.034.025.025.023.022.017.022.024.023.015.0
ROE %————————————11.2
EPS (₹)13.8118.0022.7233.3926.6629.7233.0648.6655.6281.04110.83109.4387.06
Book Value (₹)————————————740.0
Face Value (₹)————————————1
P/E————————————29.8
Div Yield %————————————0.71
NPM %11.812.514.619.815.714.113.415.715.618.521.319.918.5
OPM %19.020.021.024.022.020.021.022.022.024.026.028.026.0
D/E0.180.130.130.070.040.020.200.070.050.010.020.020.03
P/B————————————2.9

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+12.0%
5 years+8.0%
3 years+1.0%
TTM−17.0%
Compounded profit growth
10 years+14.0%
5 years+10.0%
3 years−1.0%
TTM−33.0%
Stock price CAGR
10 years+10.0%
5 years−9.0%
3 years−15.0%
Last year−41.0%
Return on equity
10 years17.0%
5 years16.0%
3 years16.0%
Last year11.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters51.55%51.55%51.43%51.38%51.35%46.74%46.74%46.08%46.09%46.09%46.09%46.09%
FIIs21.73%21.73%15.04%13.09%12.13%19.35%16.44%18.59%20.26%18.06%15.87%14.83%
DIIs13.58%13.58%18.79%19.02%21.62%21.27%25.33%24.06%24.18%27.43%31.20%31.50%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.15%0.15%0.15%0.15%0.15%
Public12.98%12.98%14.55%16.34%14.79%12.57%11.45%11.10%9.29%8.28%6.69%7.44%
No. of shareholders27,48027,48034,17636,23959,30099,4871,51,1381,48,0371,57,9911,67,2651,33,2991,40,999
Change since Jun 2023 (pp)
Promoters −5.46FIIs −6.90DIIs +17.92Public −5.54

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Newspaper PublicationClosure of Trading WindowIntimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPTAug 2025Recording

Corporate actions

As of 7 Aug 2026
7 Aug 2026DIVIDENDDividend - Rs 10 Per Share—
23 Feb 2026DIVIDENDInterim Dividend - Rs 5 Per Share—
7 Aug 2025DIVIDENDDividend - Rs 10 Per Share—
14 Feb 2025DIVIDENDInterim Dividend - Rs 6 Per Share—
20 Aug 2024DIVIDENDDividend - Rs 9 Per Share—
21 Feb 2024DIVIDENDInterim Dividend - Rs 6 Per Share—
11 Aug 2023DIVIDENDAnnual General Meeting/Dividend - Rs 5.50 Per Share—
24 Feb 2023DIVIDENDInterim Dividend - Rs 4.5 Per Share—
25 Aug 2022DIVIDENDAnnual General Meeting/Dividend - Rs 3 Per Share—
14 Feb 2022DIVIDENDInterim Dividend - Rs 3 Per Share—
6 Sep 2021DIVIDEND Annual General Meeting/Dividend - Rs 2 Per Share—
11 Feb 2021DIVIDEND Interim Dividend - Rs 3 Per Share—
17 Sep 2020DIVIDEND Annual General Meeting/Dividend - Re 1 Per Share—
24 Feb 2020DIVIDEND Interim Dividend - Rs 3 Per Share—
29 Aug 2019DIVIDEND Annual General Meeting/Dividend - Rs 1.5 Per Share—
9 Nov 2018DIVIDEND Interim Dividend - Rs 2.50 Per Share—
30 Jul 2018DIVIDEND Annual General Meeting/Dividend- Rs 2.50 Per Share—
9 Nov 2017DIVIDEND Interim Dividend - Rs 1.50 Per Share—
30 Aug 2017DIVIDEND Annual General Meeting/Dividend - Rs 2.50 Per Share—
16 Nov 2016DIVIDEND Interim Dividend Rs 1.50 Per Share (Record Date Revised)—
22 Mar 2016DIVIDEND Interim Dividend - Rs 1.90/- Per Share (Purpose Revised)—
17 Nov 2015DIVIDEND Interim Dividend - Rs 1.20/- Per Share—
8 Sep 2015DIVIDEND Annual General Meeting/ Dividend - Rs 1.30/- Per Share—
13 Nov 2014DIVIDENDInterim Dividend - Rs 1.20/- Per Share—
3 Sep 2014DIVIDENDAnnual General Meeting / Final Dividend - Re 1/- Per Share—
21 Feb 2014DIVIDENDInterim Dividend Re 0.50/- Per Share—
19 Aug 2013DIVIDENDAnnual General Meeting/Final Dividend Re.1/- Per Share And Interim Dividend Re.0.50 Per Share (Purpose Revised)—
12 Apr 2013SPLITFace Value Split From Rs.5/- Per Share To Re.1/- Per Share5 : 1
5 Sep 2012DIVIDENDAnnual General Meeting/ Dividend Rs. 3 Per Share—
17 Nov 2011DIVIDENDInterim Dividend Rs.2/- Per Share—
17 Aug 2011SPLITFace Value Split From Rs.10/- To Rs.5/-10 : 5
8 Jul 2011DIVIDENDAnnual General Meeting And Dividend Rs.4/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman