PI Industries

What PI Industries does

PI Industries Ltd. (BSE/NSE: PIIND) is an Indian-listed agrisciences and contract manufacturing company founded in 1946 by P.P. Singhal, headquartered in Gurgaon with manufacturing operations across Udaipur, Panoli, and Jambusar in India and offices in Germany, Japan, China, and the USA. The company operates two platforms: Agri-Sciences, comprising branded crop protection products (herbicides, insecticides, fungicides, biologicals) sold under brand names such as Awkira, Bunker, Nominee Gold, and Wicket through a domestic distribution network reaching millions of Indian farmers, alongside Custom Synthesis and Manufacturing (CSM) services for global agrochemical innovators; and Health Sciences, a Contract Research, Development and Manufacturing Organization (CRDMO) platform operated through PI Health Sciences Ltd., providing pharmaceutical API and intermediate manufacturing services.

Revenue is generated through three primary streams: long-term B2B custom synthesis contracts with global innovators (with pyroxasulfone supplied to Kumiai Chemical for the AXEEV herbicide representing approximately 40% of company revenue and structured as recurring contract manufacturing), one-time domestic sales of branded crop protection products through Indian dealer networks, and professional services revenue from pharmaceutical CRDMO work. The go-to-market combines direct enterprise sales for CSM partnerships (with Kumiai, BASF, Mitsui Chemicals Agro, and Koppert among named partners), a domestic channel/reseller network for branded products, and direct farmer engagement programs that have trained over 7.5 million farmers in sustainable agriculture practices. FY26 revenue from operations was ₹6,713.7 crore (down 16% YoY) with consolidated net profit of ₹1,320.8 crore; the CSM segment has experienced five consecutive quarters of YoY decline due to global agrochemical market contraction, West Asia conflict impacts, and accelerating generic competition to pyroxasulfone.

The technology base includes GLP-certified R&D facilities, 50+ patents in agrochemical innovation, proprietary peptide technology acquired through the 2024 Plant Health Care acquisition (rebranded PI AgSciences), and claimed AI-driven discovery capabilities. The company maintains AA+ credit rating from CRISIL, ISO 27001 certification, and consecutive inclusion in the S&P Global Sustainability Yearbook, while pursuing strategic repositioning as a Life Sciences enterprise evidenced by the January 2026 corporate rebrand and ongoing expansion into biologicals (U.S. EPA registration of nematode protection product PHC68949 in March 2026), pharmaceutical CRDMO, and new geographies via a Dubai subsidiary incorporated in June 2024.

Name

PI Industries

Legal name

PI Industries Ltd.

Website

https://piindustries.com

Company type

Public

Founded year

1946

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PI Industries is an Indian-listed agrisciences company offering branded crop protection products, custom synthesis manufacturing for global agrochemical innovators, and pharmaceutical CRDMO services, serving Indian farmers and global innovators including Kumiai Chemical and BASF.

Ownership category

akta.pro rank

Product category

Agrochemicals and Crop Protection

NAICS

Pesticide and Other Agricultural Chemical Manufacturing (32532), Pesticide and Other Agricultural Chemical Manufacturing (325320), Chemical Manufacturing (325)

SIC

Agricultural Chemicals (2870), Industrial Organic Chemicals (2860), Wholesale-Chemicals & Allied Products (5160)

akta.pro primary industry

Crop Protection Formulations (EC, SC, WG, WP, SL) (AFABAIAA)

akta.pro secondary industries

Crop Protection Chemicals (Herbicides/Insecticides/Fungicides) (IMAEAEAI), Custom Synthesis & Technical Active Ingredient (AI) Manufacturing (intermediates, actives) (AFABAIAI), Private Label & White-Label Agrochemical Manufacturing (AFABAIAH), Crop Protection Product Retail (Herbicides/Insecticides/Fungicides) (AFABAJAE)

Keywords

• Crop protection chemicals
• Agrochemical manufacturing
• Custom synthesis services
• Pharmaceutical CRDMO services
• Biological crop solutions

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Custom Synthesis and Manufacturing (CSM): B2B contract manufacturing services for global agrochemical and pharmaceutical innovators. PI manufactures active ingredients and intermediates under long-term partnerships, with pyroxasulfone (supplied to Kumiai Chemical for AXEEV herbicide) representing approximately 40% of revenue. The segment experienced headwinds with five consecutive quarters of YoY decline due to global agrochemical market contraction, West Asia conflict impacts, and generic competition.
2. Domestic Agri Brands: Branded crop protection products (herbicides, insecticides, fungicides, biologicals) sold through distribution network to Indian farmers. Products include Awkira, Bunker, Eketsu, Elite, Kimbo, Legacee, Londax Power, Nominee Gold, Pimix, Provide, Solaro, Wicket for various crops including wheat, rice, corn, cotton, soybean, groundnut, sugarcane.
3. Health Sciences / CRDMO: Contract research, development and manufacturing services for pharmaceutical industry, including API and intermediate manufacturing through PI Health Sciences subsidiary.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

PI Industries manufactures and sells branded crop protection products (herbicides, insecticides, fungicides, and biologicals) to Indian farmers through a nationwide distribution network, and provides Custom Synthesis and Manufacturing (CSM) services to global agrochemical innovators on a contract basis. The company also operates a Health Sciences CRDMO segment through its PI Health Sciences subsidiary, offering contract research, development, and manufacturing for pharmaceutical intermediates and APIs.

Product overview

PI Industries is an agrisciences and agrochemical company operating through two main segments: Agri-Sciences and Custom Synthesis and Manufacturing (CSM). The Agri-Sciences segment offers a comprehensive portfolio of crop protection products including herbicides (such as AWKIRA, Bunker, Eketsu, ELITE, ELITE PLUS, Kimbo, LEGACEE, Londax Power, NOMINEE GOLD, PIMIX, Provide, SOLARO, WICKET), insecticides, fungicides, and biologicals for sustainable agriculture. The CSM segment provides end-to-end custom synthesis and manufacturing services including process development, scale-up and tech transfer, manufacturing, electronic chemicals, and health sciences (CRDMO services). The company positions itself as a 'Life Sciences' company with capabilities spanning from discovery to commercial manufacturing.

Differentiator

Problem solved

Functional benefit

Brands

• PI Health Sciences: Pharmaceutical CRDMO (Contract Research, Development and Manufacturing Organization) subsidiary providing end-to-end drug development and manufacturing solutions
• Jivagro
• AWKIRA
• Bunker
• Eketsu
• ELITE
• ELITE PLUS
• Kimbo
• LEGACEE
• Londax Power
• NOMINEE GOLD
• PIMIX
• Provide
• SOLARO
• WICKET

Products and services

• AWKIRA Pre-emergent herbicide for management of resistant Phalaris minor in wheat, providing season-long weed control and crop safety.
• Bunker Pre-emergence selective herbicide containing pendimethalin 30% for control of narrow and broad leaf weeds in wheat, rice, cotton, soybean, and pigeon pea crops.
• Eketsu Broad-spectrum systemic post-emergent herbicide for selective control of key grasses, sedges, and broad leaf weeds in rice crops.
• ELITE Corn-specific early post-emergent herbicide containing Topramezone 33.6% SC for control of major narrow and broad leafy weeds with crop safety at all growth stages.
• ELITE PLUS Systemic post-emergence herbicide combining Topramezone and Atrazine for effective control of grasses and broad-leaf weeds in sugarcane and corn.
• Kimbo Selective herbicide containing Diclosulam 84% WDG for superior control of key broadleaf and sedge weeds in soybean and groundnut.
• LEGACEE Selective grassy herbicide containing Fenoxaprop-p-ethyl 6.7% EC for control of wide range of grassy weeds in transplanted and direct seeded rice.
• Londax Power Pre-emergence herbicide containing Bensulfuron Methyl and Pretilachlor in granular formulation for effective weed control in transplanted rice.
• NOMINEE GOLD Post-emergent broad-spectrum systemic herbicide containing Bispyribac Sodium 10% SC for all types of rice cultivation controlling major grasses, sedges and broad leaf weeds.
• PIMIX Broad-spectrum herbicide containing Metsulfuron Methyl and Chlorimuron Ethyl for control of different broad leaf weeds and sedges in transplanted and direct seeded rice.
• Provide Herbicide formulation containing Pyrithiobac sodium 6% and Quizalofop ethyl 4% for control of broad-spectrum weeds in cotton, offering single application ease.
• SOLARO Herbicide containing Atrazine 50% WP for pre-emergent control of broad range of weeds in corn and sugarcane.
• WICKET Selective post-emergence systemic herbicide containing Clodinafop-propargyl 15% WP for control of Phalaris minor in wheat with mixing compatibility.
• Custom Synthesis and Manufacturing (CSM) End-to-end custom synthesis and manufacturing services for global agrochemical innovators, covering process development, scale-up, technology transfer, and commercial manufacturing of active ingredients and intermediates at facilities in India and Italy.
• Biologicals / PI AgSciences Platform Biological crop protection solutions based on peptide technology and novel biochemical pesticides for sustainable agriculture, including nematode protection products developed by PI AgSciences.
• PI Health Sciences CRDMO Services Contract Research, Development and Manufacturing Organization (CRDMO) services for the pharmaceutical industry, including active pharmaceutical ingredients (APIs) and intermediate manufacturing through PI Health Sciences Ltd.
• Jivagro (Horticulture Solutions) Horticulture solutions brand offering crop protection products targeted at high-value horticulture crops, operating as a wholly-owned subsidiary.

Quantifiable outcome

• 7.5 million+ farmers trained in sustainable agriculture practices
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

Seven partnerships are on record, tiered core, flagship and major.

• BASFcoreStrategic or Co-development Partner · 26 March 2026Strategic partnership between PI Industries and BASF mentioned in financial news as ongoing collaboration in crop protection solutions.
• Centre for Cellular and Molecular Platform (C-CAMP)coreStrategic or Co-development Partner · 22 February 2025Strategic partnership to drive innovation in biocontrol technologies, leveraging C-CAMP's expertise in cellular and molecular biology with PI's manufacturing and market access capabilities.
• Plant Health Care Plc (PHC) - now PI AgSciencesflagshipTechnology or Integration · 20 August 2024Completed acquisition of UK-based Plant Health Care Plc for approximately £32.8 million through court-sanctioned scheme of arrangement. PHC became wholly owned subsidiary and rebranded as PI AgSciences, expanding PI's portfolio in biologicals and sustainable agriculture with advanced peptide technology platforms.
• Koppert Biological SystemscoreStrategic or Co-development Partner · 14 September 2023Strategic alliance to work on a sustainable agriculture agenda, combining PI's crop protection portfolio with Koppert's biological expertise to offer farmers integrated sustainable solutions.
• Kumiai Chemical Industry Co.flagshipTechnology or Integration · 22 June 2017Established joint venture in India for manufacturing and commercialization of crop protection products; PI serves as custom synthesis partner supplying pyroxasulfone active ingredient for Kumiai's AXEEV herbicide (approximately 40% of PI's revenue).
• Mitsui Chemicals Agro Inc.majorStrategic or Co-development Partner · 30 May 2016Joint venture for agrochemical registration in India, enabling PI to register and commercialize products from Mitsui's portfolio in the Indian market.
• BASFcoreGTM or Marketing Partner · 30 May 2016Partnership to offer farmers in India a broader portfolio of crop protection solutions, combining BASF's global product portfolio with PI's local market expertise and distribution network.

Scale indicators20 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Bharat Rasayan: Indian agrochemical manufacturer with branded formulations and technical manufacturing capabilities, serving domestic and export markets. Comparable scale and product overlap in crop protection chemistry.
• UPL Limited: India's largest agrochemical company with a comparable mix of branded crop protection products and global CSM/post-patent business. UPL's OpenAg platform and scale make it the closest domestic peer across both PI's branded and CSM segments.
• Gharda Chemicals: Privately held Indian agrochemical company producing technical-grade and formulated pesticides. Comparable manufacturing depth, technical expertise, and Indian market presence in crop protection chemistry.
• Sumitomo Chemical India: India-listed subsidiary of Sumitomo Chemical (Japan) manufacturing and marketing crop protection products domestically. Comparable Japanese-innovator partnership model and Indian branded portfolio.
• Insecticides India Limited: Indian agrochemical company manufacturing and marketing branded crop protection products with domestic dealer network. Comparable branded product portfolio and target farmer base in India.
• Dhanuka Agritech: Indian agrochemical company focused on branded crop protection (herbicides, insecticides, fungicides, biostimulants). Comparable distribution-heavy model targeting Indian farmers across row crops.
• Rallis India: Tata-group listed Indian crop protection company with branded formulations, domestic distribution, and contract manufacturing. Overlapping crop focus (rice, cotton, vegetables) and similar dealer-led GTM make it a direct domestic comparable.

Regional players

• Coromandel International: Indian agri-solutions company with crop protection chemicals and fertilizers serving Indian farmers. Comparable branded distribution but broader portfolio beyond agrochemicals.

Broad incumbents

• BASF Agricultural Solutions: Global agrochemical incumbent that is both a PI partner (India co-marketing) and a competitor in crop protection. Comparable in herbicides/insecticides/fungicides and innovator-driven pipeline.
• Adama Agricultural Solutions: Global generic agrochemical manufacturer with deep India presence and broad post-patent crop protection portfolio. Comparable in CSM/molecule manufacturing and competes in similar Indian crop segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/PIINDLTD
• YouTubeyoutube.com/@PI_Industries
• LinkedInlinkedin.com/company/pi-industries-ltd
• Facebookfacebook.com/piindustriesltd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries9 records

Funding overview

Funding rounds1 record

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PI Industries