PI Industries Limited (PIIND) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of PI Industries Limited stock ₹1,345, price ₹1,735, that is 22.5% below the price, quality 46 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range ₹1,735 – ₹4,686 · fair‑value band ₹1,039 – ₹1,650 · the ₹1,735 price screens above the ₹1,345 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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PI Industries Limited, together with its subsidiaries, manufactures and distributes of agricultural chemicals in India, rest of Asia, North America, Europe, and internationally. It operates through Agro Chemicals and Pharma segments.
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The company offers agrochemicals, including insecticides, fungicides, herbicides, and biologicals; crop solutions for soybeans, chili, sugarcane, rice, wheat, cotton, and corn, as well as horticulture products; and plant nutrients and specialty chemicals.
It also provides research and development services, such as target discovery, molecule design, library synthesis, lead optimization, biological evaluation, and route synthesis.
In addition, the company offers custom synthesis and manufacturing solutions, including process research and development, analytical method development, synthesis of reference standards, structure elucidation and synthesis of impurities, physio-chemical studies and 5-batch analysis under GLP conditions, scale-up studies, safety data generation, waste categorization and treatability studies, process/plant engineering, and large-scale commercial production; and distribution services.
The company sells its products to farmers, distributors, retailers, and sellers. It also exports its products. PI Industries Limited was incorporated in 1946 and is based in Gurugram, India.
Stock analysis
PI Industries Limited (PIIND) currently trades at ₹1,735, while our model-based Fair Value estimate is ₹1,345, 23% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹1,846 per share, and 3 of the 16 models we run sit above the ₹1,735 price.
Bear case: the Dividend Discount group reads lowest at ₹204.79, and 13 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹1,039 (bear) to ₹1,650 (bull), the price of ₹1,735 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 46/100 (below-average quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
PI Industries Limited reported revenue of ₹67.1B in FY2026 versus ₹53.0B in FY2022, a compound +6.1%/yr. Reported net income was ₹13.2B in FY2026, compounding +11.9%/yr from FY2022.
Key figures
Market cap ₹263B (≈ $2.8B) Mid · P/E ratio 30.0 · P/S ratio 4.15 · EPS (TTM) ₹57.87 · Dividend yield 0.9% · Net margin 13.8% · Return on equity 7.9% · Return on assets (EBIT) 13.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (medium confidence).
What moves the price
The share trades about 54% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 4% fair-value upside, at −23%, PIIND screens richer than that median.
Fair Value models
Bear₹1,039Fair Value ₹1,345Bull₹1,650
Price ₹1,735 · Downside -22.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹26.19 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.43/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−15.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.2%
Start year 2021 (pandemic). Over 10 years: +12.5% a year
Revenue growth 19 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.4%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+12.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.8%
Dividend (yield on the price)0.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11.8% vs 14.4%, steady
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.19% → 20%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Agricultural Inputs · 162 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside−22.5% · Below median
Profitability
Return on equity (12 months)7.9% · Above median
Return on assets9.8% · Top 25%
Net margin (12 months)13.8% · Top 25%
Operating margin (12 months)7.5% · Below median
Growth and dividend
Revenue growth (quarter YoY)−9.1% · Bottom 25%
Dividend yield (12 months)0.9% · Below median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Agricultural Inputs median · lower = cheaper
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Is PI Industries Limited (PIIND) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ₹1,345 versus a price of ₹1,735, about 23% lower (overvalued).
What is the fair value of PIIND?
Our model-based fair value for PI Industries Limited is ₹1,345 (as of Nov 7, 2026), built from audited fundamentals. The current price: ₹1,735.
What is the quality score of PIIND?
PI Industries Limited has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for PI Industries Limited (PIIND)?
Our model-based price target is the fair value of ₹1,345 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario ₹1,039, optimistic scenario ₹1,650. It is a calculation from audited fundamentals, not an analyst target.
What is the PI Industries Limited stock forecast for 2026?
Our models put fair value at ₹1,345, about 23% lower versus a price of ₹1,735 (overvalued). Cautious scenario ₹1,039, optimistic scenario ₹1,650. The calculation is refreshed regularly with new filings.
What is the revenue of PI Industries Limited (PIIND)?
PI Industries Limited reported trailing-twelve-month revenue of about ₹63.5B (latest available figure, as of Nov 7, 2026).
Does PI Industries Limited pay a dividend?
PI Industries Limited currently shows a dividend yield of 0.86% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of PI Industries Limited (PIIND) and when is the ex-dividend date?
PI Industries Limited pays a dividend of ₹15.00 per share a year, a dividend yield of 0.9%. The last ex-dividend date was Aug 7, 2026. A dividend has been paid every year since at least 2011. The payout ratio is 27.6% of earnings (on adjusted earnings, reported 25.9%). Our assessment: Token dividend. At a yield of 0.9% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.9% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of PI Industries Limited (PIIND)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PI Industries Limited it is ₹1,345 per share (as of Nov 7, 2026), against a price of ₹1,735. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is PI Industries Limited stock overvalued or undervalued in 2026?
As of Nov 7, 2026, PIIND trades above its calculated fair value: price ₹1,735, fair value ₹1,345, a gap of about −23% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PIIND?
No. The price is what the market pays today (₹1,735); the fair value is what the company's own numbers justify (₹1,345). For PI Industries Limited the two are ₹390.40 per share apart. That gap is exactly why we show both numbers side by side.
How much is PI Industries Limited worth?
The market values PI Industries Limited at about ₹263B (market capitalisation, as of Nov 7, 2026). Per share that is ₹1,735; our models calculate a fair value of ₹1,345 per share.
What do the bullish and bearish scenarios say about PIIND?
Our models span a range for PI Industries Limited: cautious scenario ₹1,039, base ₹1,345, optimistic ₹1,650 per share (as of Nov 7, 2026, price ₹1,735). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PIIND?
PI Industries Limited trades at a price-to-earnings ratio of 30.0 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,345 is built from several models across several years. Excluding one-off items of fiscal year 2026 it is 21.2 (reported for FY2026: 19.9). Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings, FY2026 ex one-offs: 34.7. Other multiples: P/B 2.3, P/S 4.1, EV/EBITDA 20.7.
How solid is the balance sheet of PI Industries Limited (PIIND)?
Balance-sheet figures for PI Industries Limited (as of Nov 7, 2026): return on equity 7.9%, debt of 0.01 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is PIIND from its 52-week high?
PI Industries Limited trades at ₹1,735, about 54% below its 52-week high of ₹3,801 and at the low of ₹1,735 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,345 is for.
Which stocks are comparable to PI Industries Limited?
From the same area (Basic Materials) we also value Nutrien Ltd, Qinghai Salt Lake Industry Co, CF Industries Holdings, Yara International ASA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is PI Industries Limited stock attractive at the current price?
The data as of Nov 7, 2026: price ₹1,735, calculated fair value ₹1,345 (−23%), Quality Score 46/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PIIND calculated?
We run PI Industries Limited through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹1,345 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. PI Industries Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of PI Industries Limited (PIIND)?
The closing price on Nov 6, 2026 was ₹1,735. Our model-based fair value is ₹1,345, about 23% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PI Industries Limited right now?
The price sits above even our optimistic bull case (₹1,650). The favourable scenario is already priced in. Weak quality (46/100) and above fair value at the same time, the margin of safety is missing on both counts.
Where does the earnings growth of PI Industries Limited (PIIND) come from?
Earnings per share at PI Industries Limited grew +17.2 % a year from 2015 to 2026. Broken into its drivers: revenue per share +13.9 %, EBIT margin +1.8 %, tax rate +0.2 %, residual (interest, one-offs) +0.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of PI Industries Limited
How large is the market capitalisation of PI Industries Limited (PIIND)?
The market capitalisation of PI Industries Limited is ₹263B (≈ $2.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of PI Industries Limited (PIIND)?
The price-to-sales ratio of PI Industries Limited is 4.15 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of PI Industries Limited (PIIND)?
Earnings per share at PI Industries Limited are ₹57.87 (price ÷ EPS = P/E 30.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PI Industries Limited (PIIND)?
The dividend yield of PI Industries Limited is 0.9% (payout 27.6%, on adjusted earnings, reported 25.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of PI Industries Limited (PIIND)?
The net margin of PI Industries Limited is 13.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of PI Industries Limited (PIIND)?
The return on equity (ROE) of PI Industries Limited is 7.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of PI Industries Limited (PIIND)?
On an EBIT basis the return on assets of PI Industries Limited is 13.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of PI Industries Limited (PIIND)?
The operating margin of PI Industries Limited is 7.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PI Industries Limited (PIIND)?
Revenue at PI Industries Limited is growing −9.1% versus a year earlier (3y avg +1.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at PI Industries Limited (PIIND)?
Earnings per share at PI Industries Limited are growing −70.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PI Industries Limited (PIIND) generate?
The free cash flow of PI Industries Limited is −₹4.5B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does PI Industries Limited (PIIND) hold?
PI Industries Limited holds more cash than debt, ₹18.4B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 7, 2026