Board Meeting Details

The Board of Directors meeting was held on November 4, 2026, commencing at 2:00 PM IST and concluding at 7:00 PM IST. The board approved the unaudited standalone and consolidated financial results.

Standalone Financial Results (Q2 FY27)

  • Revenue from operations: ₹15,335 million (vs ₹17,526 million in Q2 FY26, -12.5% YoY)
  • Other income: ₹625 million
  • Total income: ₹15,960 million
  • Profit before exceptional items and tax: ₹2,752 million (vs ₹6,146 million in Q2 FY26)
  • Exceptional items: Nil (vs Nil in Q2 FY26)
  • Profit after exceptional but before tax: ₹2,752 million
  • Total tax expense: ₹681 million
  • Profit for the period: ₹2,071 million (vs ₹4,911 million in Q2 FY26, -58% YoY)
  • Basic EPS: ₹13.66 (vs ₹32.36 in Q2 FY26)
  • Diluted EPS: ₹13.66 (vs ₹32.36 in Q2 FY26)

Standalone Financial Results (H1 FY27)

  • Revenue from operations: ₹31,324 million (vs ₹35,217 million in H1 FY26, -11.1% YoY)
  • Other income: ₹1,233 million
  • Total income: ₹32,557 million
  • Profit before exceptional items and tax: ₹7,122 million (vs ₹11,961 million in H1 FY26)
  • Exceptional items: Nil (vs Nil in H1 FY26)
  • Profit after exceptional but before tax: ₹7,122 million
  • Total tax expense: ₹1,636 million
  • Profit for the period: ₹5,486 million (vs ₹9,554 million in H1 FY26, -42.6% YoY)
  • Basic EPS: ₹36.16 (vs ₹62.97 in H1 FY26)
  • Diluted EPS: ₹36.16 (vs ₹62.96 in H1 FY26)

Consolidated Financial Results (Q2 FY27)

  • Revenue from operations: ₹17,018 million (vs ₹18,723 million in Q2 FY26, -9.1% YoY)
  • Other income: ₹611 million
  • Total income: ₹17,629 million
  • Profit before exceptional items and tax: ₹1,840 million (vs ₹5,253 million in Q2 FY26)
  • Exceptional items: Nil (vs Nil in Q2 FY26)
  • Profit after exceptional but before tax: ₹1,840 million
  • Total tax expense: ₹618 million
  • Profit for the period: ₹1,222 million (vs ₹4,093 million in Q2 FY26, -70.1% YoY)
  • Basic EPS: ₹8.05 (vs ₹26.98 in Q2 FY26)
  • Diluted EPS: ₹8.05 (vs ₹26.98 in Q2 FY26)

Consolidated Financial Results (H1 FY27)

  • Revenue from operations: ₹34,041 million (vs ₹37,728 million in H1 FY26, -9.8% YoY)
  • Other income: ₹1,252 million
  • Total income: ₹35,293 million
  • Profit before exceptional items and tax: ₹5,058 million (vs ₹10,327 million in H1 FY26)
  • Exceptional items: Nil (vs Nil in H1 FY26)
  • Profit after exceptional but before tax: ₹5,058 million
  • Total tax expense: ₹1,394 million
  • Profit for the period: ₹3,664 million (vs ₹8,093 million in H1 FY26, -54.7% YoY)
  • Basic EPS: ₹24.15 (vs ₹53.35 in H1 FY26)
  • Diluted EPS: ₹24.15 (vs ₹53.34 in H1 FY26)

Segment Performance (Consolidated, Q2 FY27)

  • Agro Chemicals revenue: ₹16,280 million, Profit before tax: ₹2,473 million
  • Pharma revenue: ₹759 million, Loss before tax: ₹(607) million
  • Inter-segment revenue: ₹27 million

Segment Performance (Consolidated, H1 FY27)

  • Agro Chemicals revenue: ₹32,768 million, Profit before tax: ₹6,308 million
  • Pharma revenue: ₹1,307 million, Loss before tax: ₹(1,477) million
  • Inter-segment revenue: ₹28 million

Balance Sheet Highlights (Standalone as of September 30, 2026)

  • Total assets: ₹136,557 million (vs ₹129,686 million as of March 31, 2026)
  • Property, plant and equipment: ₹32,029 million
  • Capital work-in-progress: ₹8,423 million
  • Investments: ₹23,257 million (non-current) + ₹19,282 million (current)
  • Inventories: ₹10,357 million
  • Trade receivables: ₹12,481 million
  • Cash and cash equivalents: ₹2,523 million
  • Bank balances other than cash: ₹13,096 million
  • Total equity: ₹118,093 million
  • Paid-up equity share capital: ₹152 million (face value ₹1 each)
  • Other equity: ₹117,941 million

Cash Flow Statement (Standalone H1 FY27)

  • Net cash from operating activities: ₹10,329 million
  • Net cash used in investing activities: ₹(8,247) million
  • Net cash from financing activities: ₹(1,668) million
  • Net increase in cash: ₹365 million
  • Cash outflow for purchase of property, plant & equipment: ₹(5,870) million
  • Payment for purchase of investment into subsidiary: ₹(15,706) million
  • Payment for purchase of other investments: ₹(9,403) million
  • Proceeds from sale of investments: ₹12,122 million
  • Dividends paid: ₹(1,517) million

Exceptional Items Disclosure

  • In FY26, the company recognized a provision of ₹1,100 million for equity investment in PI Health Sciences Limited due to business losses.
  • In FY26, an incremental liability of ₹223 million was recognized due to reassessment of employee benefit obligations under New Labour Codes.
  • For consolidated results in FY26, there was a write-back of contingent consideration of ₹1,260 million related to acquisition settlement.

Subsidiaries and Associates

The consolidated results include numerous subsidiaries including PI Health Sciences Limited, Archimica S.p.A Italy, various PI AgSciences entities, PI Kumiai Private Limited (joint venture), and Solinnos Agro Sciences Private Limited (associate).

Dividend Payment

The company paid dividends of ₹1,517 million during H1 FY27.

Auditor's Review

Price Waterhouse Chartered Accountants LLP issued unmodified review conclusions for both standalone and consolidated financial results, noting that nothing came to their attention suggesting material misstatement.