India · Delayed Price · Currency is INR PI Industries Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw revenue of INR 13,757 million and gross margin expansion to 59%, despite global headwinds. Sequential growth is expected in Q4, with a stronger recovery and revenue growth anticipated in FY27, supported by new product launches and robust cash reserves.
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Q2 FY26 saw a 16% YoY revenue decline due to global and domestic headwinds, but gross margins expanded on favorable mix. Recovery is expected from Q4, with strong growth anticipated in pharma and biologicals as investments scale.
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Q1 FY 2026 saw revenue decline 8% year-over-year but sequential growth of 7%, with gross margin expanding to 57.4% and EBITDA margin at 27.5%. Domestic and pharma segments grew, while biologicals faced regulatory headwinds. Guidance for single-digit revenue growth and sustained margins remains intact.
Fiscal Year 2025
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Standalone revenue grew 6% and EBIT 17% for FY25, with strong domestic and biologicals growth offsetting export headwinds. EBITDA margin guidance remains at 25% for FY26, with CapEx focused on new products and global expansion.
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Q3 FY25 saw stable revenue and profit growth, with strong performance in new products, biologicals, and pharma. Guidance for FY25 remains mid- to high-single digits, with recovery in exports expected in H2 CY25. Investments in innovation, sustainability, and new segments continue.
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Q2 and H1 FY25 saw resilient growth with revenue up 5% YoY, strong margins, and robust new product performance, despite global and domestic headwinds. Guidance for FY25 is revised to high single-digit growth, with continued investment in biologicals and pharma.
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Q1 FY25 saw 24% revenue growth led by exports, margin expansion to 52%, and strong cash flow. Guidance for 15%-20% annual revenue growth and 25%-26% EBITDA margin is maintained, with continued investment in new products, biologicals, and pharma integration.