PI Industries Limited (PIIND.NS) stock analysis

In our weekly check, PI Industries Limited is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 8, red flags: 3.

About PI Industries Limited

PI Industries Limited is a Basic Materials company (Agricultural Inputs) based in India, listed on NSE as PIIND.NS.

What our checks show for PIIND.NS

Red flags

• Free cash flow is negative (-6.9% of revenue): the business spends more cash than it brings in.
• Return on capital (ROCE) is zero or negative: the business does not earn on the money put into it.
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Operating cash flow is only 0.57x net profit: part of the reported profit does not arrive as cash.
• Analysts expect the net margin to shrink by 0.6 points from today's 17.9%.
• Revenue grew only 0.3% a year over the last 3 years.
• Earnings per share fell 1.8% a year over the last 3 years.
• Net profit fell 1.8% a year over the last 3 years.
• The stock has fallen as much as 57% from a peak. Would you have held through that?
• The stock is still below its previous peak.
• Thinly traded (about 287 thousand shares a day): buying and selling can move the price.

Strengths

• Debt is low: 0x equity.
• Operating profit covers interest 128 times over.
• The net margin rose by 2 points over 5 years, to 17.9%.
• The gross margin is 52.5% and has risen by 7.7 points: pricing power is holding.
• Analysts expect earnings per share to grow about 11.4% a year over the next years.
• The dividend takes 13% of profit: there is a cushion.

Next earnings report: 2026-11-04

Similar companies

UPL.NS · COROMANDEL.NS · YAR.OL · 2020.SR · NTR

Questions

What grade does PI Industries Limited (PIIND.NS) have?

In our weekly check, PI Industries Limited is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 8, red flags: 3. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of PIIND.NS stock?

This week's biggest flags for PI Industries Limited: Weak free cash flow, Low return on capital, Heavy stock pay. In total 11 of 25 checks show a warning or a red flag.

What does PI Industries Limited do?

PI Industries Limited is a Basic Materials company (Agricultural Inputs) based in India, listed on NSE as PIIND.NS.

When does PI Industries Limited report earnings next?

The next earnings report is expected on 2026-11-04. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

Open the full analysis