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P I Industries Ltd

BSE Code : 523642 | NSE Symbol : PIIND | ISIN:INE603J01030| SECTOR : Agro Chemicals |

NSE BSE
 
SMC down arrow

2,114.55

-27.20 (-1.27%) Volume 280564

28-Oct-2020 EOD

Prev. Close

2,141.75

Open Price

2,151.05

Bid Price (QTY)

2,114.55(16)

Offer Price (QTY)

0.00(0)

 

Today’s High/Low 2,186.85 - 2,090.00

52 wk High/Low 2,225.00 - 970.10

Key Stats

MARKET CAP (RS CR) 32027.46
P/E 67.66
BOOK VALUE (RS) 302.6172846
DIV (%) 400
MARKET LOT 1
EPS (TTM) 31.2
PRICE/BOOK 6.97597297785019
DIV YIELD.(%) 0.17
FACE VALUE (RS) 1
DELIVERABLES (%) 32.82
4

News & Announcements

26-Oct-2020

P I Industries Ltd - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

26-Oct-2020

P I Industries Ltd - PI Industries Limited - Analysts/Institutional Investor Meet/Con. Call Updates

20-Oct-2020

P I Industries Ltd - Statement Of Investor Complaints For The Quarter Ended September 2020

17-Oct-2020

P I Industries Ltd - Compliance Certificate Under Regulation 7(3} Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 For The Half-Year Ended On 30.09.2020.

15-Oct-2020

PI Industries announces board meeting date

15-Sep-2020

P I Industries incorporates two subsidiaries - Enzachem and PI Fermachem

28-Aug-2020

Board of P I Industries appoints Group CFO

17-Aug-2020

P I Industries announces resignation of CFO

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
Agrimas Chemicals Ltd 531549
Aimco Pesticides Ltd 524288 AIMCOPEST
Alchemie Organics Ltd (Merged) 524596
Astec Lifesciences Ltd 533138 ASTEC
Bhagiradha Chemicals & Industries Ltd 531719
Bharat Rasayan Ltd 590021 BHARATRAS
Bhaskar Agrochemicals Ltd 524534
Chemcel Biotech Ltd 533026
Dhanuka Agritech Ltd 507717 DHANUKA
H P M Industries Ltd 531575
Indag Products Ltd 506952
Insecticides India Ltd 532851 INSECTICID
Kedia Chemical Industries Ltd 524701
Kilpest India Ltd 532067
Meghmani Organics Ltd 532865 MEGH
Montari Industries Ltd 500286 MONTARIND
NACL Industries Ltd 524709 NACLIND
Paushak Ltd 532742
Paushak Ltd(merged) 506758
PB Global Ltd 506580
Phyto Chem (India) Ltd 524808
Pioneer Products Ltd 524697
Rallis India Ltd 500355 RALLIS
Sabero Organics Gujarat Ltd(Merged) 524446 SABERORGAN
Savoy Herbals Ltd (Wound-up) 527003
Sharda Cropchem Ltd 538666 SHARDACROP
Shivalik Rasayan Ltd 539148
Sikko Industries Ltd 538419 SIKKO
Skylead Chemicals Ltd 531742
Solar Farmachem Ltd 524360
Som Phytopharma (India) Ltd 531507
Sumex Chemicals Ltd 524105
Sumitomo Chemical India Ltd 542920 SUMICHEM
Super Crop Safe Ltd 530883
UPL Ltd 512070 UPL
Vantech Industry Ltd 530509
Varun Polymol Organics Ltd 524059
Vijay Remedies Ltd 531706

Share Holding

Category No. of shares Percentage
Total Foreign 23981594 15.81
Total Institutions 39179299 25.83
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 2036752 1.34
Total Promoters 70920494 46.75
Total Public & others 15595296 10.28
Total 151713435 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About P I Industries Ltd

PI Industries Limited (PI) is an agri-sciences company with strong presence in both domestic and export market. The company has three manufacturing facilities in Gujarat and a Research & Development centre at Udaipur. The manufacturing facilities include 5 multi-purpose plants at Panoli and, 3 multi-purpose plants at Jambusar and dedicated high-pressure reaction facilities equipped with futuristic is automation. In addition, the company's two formulation units at Panoli help it meet the requirements of local as well as global clientele. PI Industries was founded and incorporated by the name Mewar Oil & General Mills Ltd. in 1946. During the period 1947-1980, the company established marketing network across India, installed Agchem technical plant, diversified into mining and mineral processing business (later hived off into a separate company named as Wolkem India Ltd) and started AgChem Formulation and Marketing under VEGFRU brand. The company made its first export of Agchem formulation during the period under review. During the period 1980-2000, the name of the company was changed to PI Industries Ltd. During the period under review, the company diversified into Polymer Compounding, Custom Synthesis & Manufacturing and Energy Metering (later rechristened as Secure Meters Ltd). During the period under review, the company set up a manufacturing site at Panoli (Gujarat) and installed Phorate technical Plant. It also set up a turnkey Agchem Manufacturing Unit in the Middle East. During the period 2000-2005, PI Industries divested polymer business. During the period under review, the company carried out expansion of its R&D Centre at Udaipur and started formulation plant at Jammu. During the period 2005-2012, PI Industries successfully commissioned a new manufacturing site at Jambusar, Gujarat. During the period under review, the company divested Polymer Compounding business. During the period under review, the company completed expansion of Custom Synthesis & Manufacturing (CSM) facilities (built two new MPPs in Panoli). On 5 November 2009, PI Industries Limited announced investment of Rs 50 crore into the company from Standard Chartered Private Equity (SCPE). The investment is in the form of convertible preference shares and debentures. PI Industries will use the funds to part-finance the expansion of its existing facilities and setting up of a new manufacturing facility in Gujarat. On 6 January 2011, PI Industries Limited (PI) announced the inauguration of the PI-Sony Research Centre at Udaipur. The Research Centre will focus on development of synthetic organic chemicals for applications in the electronics industry. On 31 January 2013, PI Industries Ltd announced that it has concluded its fund raising exercise through Qualified Institutional Placement (QIP) process. The company raised Rs 117.33 crore through the QIP route which saw participation by some highly reputed investors in India and across the globe. The issue was priced at Rs 609.60 per share. In 2013-14, PI Industries set up a new formulation site at Panoli in Gujarat. In 2014-2015, PI Industries commercialized three new molecules for custom synthesis exports. It also established an office in Germany in 2014-2015. On 11 December 2015, PI Industries Limited (PI), a leading Indian Agri-Input and Custom Synthesis company, announced that its promoters have divested their holding to the extent of 6.4%. Their holding will stand at 51.7%, ex-transaction. The stake was acquired by a combination of high-quality domestic and foreign investors, reaffirming their faith in the company's long-term prospects. In 2015-2016, PI Industries established a State-of-the-Art R&D center (P. P Singhal Research Centre at Udaipur, Rajasthan). During the period under review, PI Industries commissioned two world class Multi Product Plants at Jambusar in Gujarat. The company also established a new operations office at Vadodara, Gujarat during the period under review. On 30 May 2016, PI Industries Limited (PI) and Mitsui Chemicals Agro, Inc. (MCAG) jointly announced to have entered into an agreement to establish a joint venture company in India. This joint venture company is being set up to provide registration services for MCAG's proprietary agrochemicals and intends to leverage PI's deep understanding of Indian agriculture, farmers needs, regulatory system, etc. and MCAG's capability of delivering innovative agrochemicals. This tie up will further strengthen collaboration between the two companies and help them bring innovative solutions in India to enhance farm productivity. MCAG will hold 51% stake and P I Life Science Research Ltd, a wholly owned subsidiary of PI Industries, will hold 49% stake in the new joint venture company. The joint venture company will be named Solinnos Agro Sciences Pvt. Ltd. On 9 May 2017, PI Industries and BASF, one of the world's leading chemical companies and a well-known name in the in the crop protection industry, announced a strategic partnership to offer farmers in India a broader portfolio of crop protection solutions. PI Industries will market BASF's innovative fungicide technologies for rice, maize, fruits and vegetables as well as a new herbicide for maize. Following this partnership model, both companies aim to enhance their market participation in these important crops segments. On 22 June 2017, PI Industries announced an equal joint venture with Kumiai Chemical Industry Co., Ltd. Japan to bring superior innovative solutions in India to enhance farm productivity. The new joint company (JVC) is being set up initially to manufacture and distribute Bispyribac Sodium, one of the flagship agrochemical products of Kumiai, in India to achieve operational efficiencies and further growth. Kumiai and PI, after due consultation, may also add more products to JVC portfolio in future for evaluation, manufacture, registration and distribution in India to leverage PI's deep understanding of Indian agriculture, brand and reach with the Indian farmers and Kumiai's robust research and development capabilities for new products. The JVS will be named PI Kumiai Private Ltd and headquartered at Gurugram, Haryana (India). In 2017-18, PI Industries simultaneously launched 5 new generation products for the first time.

P I Industries Ltd Chairman Speech

By understanding not only the needs, but also the pain points of Farmers innovative, comprehensive and sustainable solutions are seen to be the only way forward, and all energies of the entire organization are directed to delight PI's key end customers, the Farmers.

Dear Shareholders

I take this opportunity to share my perspectives on your Company's unsung hero, the Indian Farmer. Also, I would like to share how your Company is working to make him even more prosperous.

Ever since the green revolution the Indian Farmer has delivered, time and again, despite his huge dependency on irregular and uneven monsoons, poor infrastructure, and many other trials and tribulations. Today India's food security is largely due to the immense contribution made by the Indian Farmer. However, Farmers are now faced with increasingly new challenges and it is time for us to dwell on these to find new solutions for them and our nation's prosperity.

Managing quality of our soil is a key point to begin with. Past indiscriminate use of fertilizers and and extremities of our weather pattern takes a huge toll on our land. We need to pay more attention in managing this invaluable asset. Our

Government has recognized this, and the narrative now is on effective management and preservation of land as a resource. Soil testing has become the norm in many areas and is expected to become more so across all regions.

Paradoxically, water is scarce and is also in abundance! Bringing about a healthy and effective balance of water management is now a priority. We have seen large swathes of land submerged due to huge flooding, washing away not only the crop but also top soil. On the other hand, we have seen year after year of drought leading to erosion of land.

With the substantial investment that the Government is embarking, our soil management, I believe will dramatically change.

Digital literacy along with the spread of broad band are key objectives of our new Government. With more and more villages and rural areas digitalized, information dissemination becomes easier and efficient. Audio and Video delivery of new farm techniques, information on products, crops and their potential pricing and many more critical inputs besides seeds, fertilizers and pesticides will make the farmer much more discerning and also demanding. Only with a demanding customer can we excel.

Mechanization and automation are not restricted to manufacturing alone but are increasingly being applied in farms. With more focus on bringing in mechanization there are new business models that are evolving whereby a farmer can use tillers, sprayers, harvesters, tractors, drones, and more to manage farms not always far more efficiently be dependent on scarce human resources.

Markets for produce is now ever widening with improving ‘farm to plate' supply chain processes. Large retail chains across the country, on-line grocers and many other channels are demanding more and high-quality produce to cater to increasing and expanding dietary needs of consumers.

Consumption patterns are changing with more emphasis on millets, vegetables, fruits and other horticultural products. Further, to enhance returns for farmers, there is concerted effort to increase exports, especially products peculiar to India and popular worldwide. These changes again require a re-think of the way farmers plan their crops.

Recognizing these and other trends, I am delighted to say that PI has walked the entire path a farmer needs to take and worked out comprehensive, efficient and sustainable solutions that would be required to fulfil Farmers' aspirations. We have gathered substantial information required for providing better, more effective and comprehensive solutions. We have established direct, multiple and multilingual communication channels with the farmers with a view to deliver appropriate and timely information to make the entire sowing to harvesting a lot more efficient. We have introduced mechanized spraying machines to enable safe, carefully directed and highly efficient spraying of product without being in direct contact. Our field personnel have been trained to coach and inform Farmers in the use of new and safer products for better protection and yields. We continue our efforts to bring in more solutions in many other areas, including working out partnerships and alliances for services that would be required by farmers.

Your Company's management, I am proud to say, is Totally passionate about customer centricity and the Farmer is at the center of all that they do. By understanding not only the needs, but also the pain points of Farmers innovative, comprehensive and sustainable solutions are seen to be the only way forward, and all energies of the entire organization are directed to delight PI's key end customers, the Farmers.

I am deeply appreciative of the enormous contribution made by management and the wider team at PI in growing your Company from strength to strength. I also thank my fellow directors for their objective and candid input in making PI's governance outstanding at a time when many other hitherto illustrious businesses have fallen by the wayside. I would be Totally amiss if I did not show my gratitude to all our other stakeholders including vendors, bankers, customers small and big, regulators, State and Central Governments, and last but not the least, you our shareholders.

With warm regards,

Narayan K. Seshadri

   

P I Industries Ltd Company History

PI Industries Limited (PI) is an agri-sciences company with strong presence in both domestic and export market. The company has three manufacturing facilities in Gujarat and a Research & Development centre at Udaipur. The manufacturing facilities include 5 multi-purpose plants at Panoli and, 3 multi-purpose plants at Jambusar and dedicated high-pressure reaction facilities equipped with futuristic is automation. In addition, the company's two formulation units at Panoli help it meet the requirements of local as well as global clientele. PI Industries was founded and incorporated by the name Mewar Oil & General Mills Ltd. in 1946. During the period 1947-1980, the company established marketing network across India, installed Agchem technical plant, diversified into mining and mineral processing business (later hived off into a separate company named as Wolkem India Ltd) and started AgChem Formulation and Marketing under VEGFRU brand. The company made its first export of Agchem formulation during the period under review. During the period 1980-2000, the name of the company was changed to PI Industries Ltd. During the period under review, the company diversified into Polymer Compounding, Custom Synthesis & Manufacturing and Energy Metering (later rechristened as Secure Meters Ltd). During the period under review, the company set up a manufacturing site at Panoli (Gujarat) and installed Phorate technical Plant. It also set up a turnkey Agchem Manufacturing Unit in the Middle East. During the period 2000-2005, PI Industries divested polymer business. During the period under review, the company carried out expansion of its R&D Centre at Udaipur and started formulation plant at Jammu. During the period 2005-2012, PI Industries successfully commissioned a new manufacturing site at Jambusar, Gujarat. During the period under review, the company divested Polymer Compounding business. During the period under review, the company completed expansion of Custom Synthesis & Manufacturing (CSM) facilities (built two new MPPs in Panoli). On 5 November 2009, PI Industries Limited announced investment of Rs 50 crore into the company from Standard Chartered Private Equity (SCPE). The investment is in the form of convertible preference shares and debentures. PI Industries will use the funds to part-finance the expansion of its existing facilities and setting up of a new manufacturing facility in Gujarat. On 6 January 2011, PI Industries Limited (PI) announced the inauguration of the PI-Sony Research Centre at Udaipur. The Research Centre will focus on development of synthetic organic chemicals for applications in the electronics industry. On 31 January 2013, PI Industries Ltd announced that it has concluded its fund raising exercise through Qualified Institutional Placement (QIP) process. The company raised Rs 117.33 crore through the QIP route which saw participation by some highly reputed investors in India and across the globe. The issue was priced at Rs 609.60 per share. In 2013-14, PI Industries set up a new formulation site at Panoli in Gujarat. In 2014-2015, PI Industries commercialized three new molecules for custom synthesis exports. It also established an office in Germany in 2014-2015. On 11 December 2015, PI Industries Limited (PI), a leading Indian Agri-Input and Custom Synthesis company, announced that its promoters have divested their holding to the extent of 6.4%. Their holding will stand at 51.7%, ex-transaction. The stake was acquired by a combination of high-quality domestic and foreign investors, reaffirming their faith in the company's long-term prospects. In 2015-2016, PI Industries established a State-of-the-Art R&D center (P. P Singhal Research Centre at Udaipur, Rajasthan). During the period under review, PI Industries commissioned two world class Multi Product Plants at Jambusar in Gujarat. The company also established a new operations office at Vadodara, Gujarat during the period under review. On 30 May 2016, PI Industries Limited (PI) and Mitsui Chemicals Agro, Inc. (MCAG) jointly announced to have entered into an agreement to establish a joint venture company in India. This joint venture company is being set up to provide registration services for MCAG's proprietary agrochemicals and intends to leverage PI's deep understanding of Indian agriculture, farmers needs, regulatory system, etc. and MCAG's capability of delivering innovative agrochemicals. This tie up will further strengthen collaboration between the two companies and help them bring innovative solutions in India to enhance farm productivity. MCAG will hold 51% stake and P I Life Science Research Ltd, a wholly owned subsidiary of PI Industries, will hold 49% stake in the new joint venture company. The joint venture company will be named Solinnos Agro Sciences Pvt. Ltd. On 9 May 2017, PI Industries and BASF, one of the world's leading chemical companies and a well-known name in the in the crop protection industry, announced a strategic partnership to offer farmers in India a broader portfolio of crop protection solutions. PI Industries will market BASF's innovative fungicide technologies for rice, maize, fruits and vegetables as well as a new herbicide for maize. Following this partnership model, both companies aim to enhance their market participation in these important crops segments. On 22 June 2017, PI Industries announced an equal joint venture with Kumiai Chemical Industry Co., Ltd. Japan to bring superior innovative solutions in India to enhance farm productivity. The new joint company (JVC) is being set up initially to manufacture and distribute Bispyribac Sodium, one of the flagship agrochemical products of Kumiai, in India to achieve operational efficiencies and further growth. Kumiai and PI, after due consultation, may also add more products to JVC portfolio in future for evaluation, manufacture, registration and distribution in India to leverage PI's deep understanding of Indian agriculture, brand and reach with the Indian farmers and Kumiai's robust research and development capabilities for new products. The JVS will be named PI Kumiai Private Ltd and headquartered at Gurugram, Haryana (India). In 2017-18, PI Industries simultaneously launched 5 new generation products for the first time.

P I Industries Ltd Directors Reports

Dear Members,

Your Directors are pleased to present the 72nd Annual Report on the business and operations of the Company together with the Audited Financial Statements for the financial year ended March 31, 2019.

1. FINANCIAL HIGHLIGHTS

(Rs. in Mn)
Particulars FY 2018-19 FY 2017-18
Revenue from Operations 28,409 22,771*
Other Income 600 600
Profit Before Interest, Depreciation and Tax 6,331 5,521
Interest 59 59
Depreciation 926 826
Profit before Tax & 5,346 4,636
Exceptional items
Less: Current Tax inclusive of earlier year Tax 1169 995
Deferred Tax Asset/Liability (it should have been deferred tax) (100) 25
Profit after Tax 4,077 3,666
Other Comprehensive Income 77 (75)
Total Comprehensive Income 4,154 3,591
Balance of retained earning brought forward from previous year 14,908 11,893
- Profit for the year 4,077 3,666
- Other Comprehensive (1) 11
Income (OCI) for the year
Appropriations:-
Final Dividend on Equity Shares 2017-18 345 344
Interim Dividend on Equity Shares 2018-19 345 206
Dividend Distribution Tax on Equity Shares 142 112
Transfer to General Reserve 0 0
Balance Profit / (-) Loss carried forward 18,368 14,908
Earning Per Share (EPS) (Rs. ) 29.56 26.62
Basic Diluted (Rs.) 29.54 26.55
* net of excise - 316 Mn

2. KEY HIGHLIGHTS

Your Company's Revenue from Operations for the year stood at Rs. 28,409 Mn as compared to Rs.,771 Mn (net of excise) last year registering a growth of 25 % on YoY basis.

The Operating Profit for the year was at Rs. 5,731 Mn as compared to Rs. 4,921 Mn last year i.e. an increase of 16.46 % YoY. The Net Profit for the year on stand-alone basis stood at Rs. 4,077 Mn as compared to Rs. 3,666 Mn in the previous year i.e. a growth of 11.21 %YoY.

Your Company's Net Profit on a consolidated basis stood at Rs. 4,102 Mn during the year as compared to Rs. 3,676 Mn in the previous year, a growth of 11.58% YoY.

The Earnings per share (EPS) for the year stood Rs. 29.56at per share, a growth of 11.04% as compared to Rs. 26.62 per share for the previous year.

Your Company made an addition of Rs. 3,757 Mn. in gross fixed assets for expansion of manufacturing and & Development capacities.

Your Company also commissioned new MPP plant at Jambusar during February 2019.

3. PERFORMANCE REVIEW

Domestic revenues grew by 16.5% YOY and achieved milestone of Rs. 10000 Mn. In brand sales, growth was recorded across the portfolio which was well supported by successful new launches. In Dinotefuran, growth in co-marketing was achieved with increased brand awareness activities for Osheen. In the herbicide segment, our leading brand Nominee Gold despite facing fierce competition from generics, expanded its customer base and achieved highest ever treated acreages. The products launched during FY and newly launched COSKO and FANTOM also contributed to the top line.

The introduction of new innovative products, strengthening of existing partnerships & forging of new ones, channel expansion and focus on customer connect are some of the key strategic initiatives expected to drive the growth in coming years.

Your Company Introduced two new products in FY 19 viz. COSKO and FANTOM. These launches have given the opportunity to leverage the channel presence very well, exploit the available market opportunity and gain a better market share from our stronghold markets. On the other hand your Company was also able to make an entry in the markets with relatively weak presence.

Your Company's exports grew by 29.4% during the year in line with overall improvement in global sentiment. Your Company is working with innovator partners to introduce novel molecules globally. The Company continued to develop alternate vendors in domestic market to reduce its dependency on Chinese raw material suppliers that shall help the Company in the coming years. Commercialisation of 3 new molecules during the year along with the enhanced utilization of multi-purpose plants at Jambusar SEZ and commissioning of new plant, is expected to provide further growth momentum to the exports in the coming years. Your Company also won numerous awards and received much recognition. Your Company's manufacturing site at Panoli has won

‘Golden Peacock Environment Management' award for in the thirdtime on account of its significant field of Environment Management. Besides this, awarded ISO 27001:2013 Certification from British Standards Institute for implementation of information security based on global standards and frameworks.

For its CSR initiatives, your Company's CSR arm PI Foundation won prestigious SKOCH AWARD 2018 for Integrated Community Development. Your Company was also rated by ECOVADIS in ‘GOLD Category' for second consecutive year demonstrating Company's quality in integrating the principles of CSR into their business (Environment, Labor/Social, Fair business/ Ethics and Supply Chain. PI in top global 1% in labour practices (Safety) amongst pesticides and agrochemical products sector.

4. RESEARCH & DEVELOPMENT (R&D)

During the year under review, the Research & Development team successfully carried out synthesis of 48 new development molecules. Out of these, 18 molecules were scaled up successfully for their next stage of development and 6 molecules were transferred to the next stage. Apart from synthesis and scale up of new products, the

Research & Development team also undertook process improvements for 23 projects in order to identify cost improvement opportunities and then implement 16 such project improvements at the plant level. Environment, Health and Safety (EHS) considerations were given the usual special emphasis in the process development work.

You r Company has state of art R&D set up with house facilities for biological testing. This facility supports various R&D projects under disciplines of crop protection products. Scientifically, it involves molecular design, synthesis, structural elucidation, purifications, scale-ups, laboratory testing, green house fieldtesting, SAR's(structure activity relationship), knowledge management and patenting. The research assignments involve global innovator partners.

Your Company's research strategy and implementation are well supported by a strong team comprising of more than 250 research scientists having expertise and experience in chemistry, analytical techniques, biological testing, mode of action, tox studies, IP management and basic / detailed process engineering. During the year, R&D undertook development work on various new projects covering different sectors i.e. Agro, Pharma and Electronic chemical applications. You will be further glad to know that your Company has identifiedpatentable molecules & processes and has initiated the patenting process.

Your Company continues to pursue cost which R&D team played vital role on process innovations for several existing products to identify cost improvement opportunities and at the same time maintaining highest standards of Quality, Health, Safety and Environment (QHSE). The Company's R&D and manufacturing team are constantly working together to reduce environmental load, enhance safety and reduce cost.

5. FINANCE

Your Company continued to focus on managing cash adequate liquidity and efficiently back up lines of credit. Net Cash from operations for the year stood at Rs. 3,848 Mn. Your Company follows a prudent financial policy and aims at maintaining an optimum financial gearing. The Company's Debt to Equity Ratio was zero as on March 31, 2019. namely Your Company has been credit rated by CRISIL Limited.

The Company's credit rating for long term was reaffirmed to AA/Positive and for short term loans, rating was reaffirmed at CRISIL A1+. This reflects a very high degree of safety regarding timely servicing of financial obligations and also a vote of confidence reposed in your Company's financials.

6. DIVIDEND

During the year, the Board of your Company has declared an interim dividend of Rs. 2.50 (250%) per equity share of Rs. 1/- each in its Board Meeting held on October 26, 2018. The Directors are pleased to recommend a final dividend of Rs. 1.50 (150%) per equity share of Rs. 1/- each. This will take the Total dividend for the year to Rs. 4/- (400%) per equity share of Rs. 1/- each. If the dividend as recommended above, is declared by the members at the Annual General Meeting the Total outflow towards dividend on Equity Shares for the year would be Rs. 552 Mn (dividend distribution tax of Rs. 114 Mn) as compared Rs. 551 to Mn (dividend distribution tax of Rs. 114 Mn) last year. The dividend, if approved at the ensuing Annual General Meeting, will be paid to those shareholders whose names appear on the register of members of the Company as on the record date i.e. September 2, 2019.

DIVIDEND DISTRIBUTION POLICY green

PI believes in maintaining a fair balance between cash retention and dividend distribution. Cash retention is required to finance acquisitions and future growth, and also as a means to meet any unforeseen contingency.

PI Dividend Policy specifies the financial parameters that will be considered when declaring dividends, internal and external factors that would be considered for declaring dividends. The Policy has been put up on the website of the Company at http://www.piindustries.com/Media/Documents/ Dividend%20Policy%20(f).pdf

7. SUBSIDIARY, ASSOCIATES & JOINT VENTURES

As on March 31, 2019, the Company had three (3) Wholly-owned Subsidiary and two (2) Joint Venture Companies. In accordance with Section 129(3) of the Companies Act, 2013, the Company has prepared a consolidated financial statement of the Company and all its subsidiary Companies.

The key highlights of these subsidiary and associate Companies are as under:

SUBSIDIARY COMPANIES - PI Life Science Research Ltd.

During the year, the Company posted a net profit of Rs..06 Mn earned on account of various R&D activities for developing new products.

- PI Japan Co. Ltd.

The Company posted a net profit of JPY 3.15 Mn during the year ended March 31, 2019. Due to the size of operations and local laws, the annual accounts of this Company are not required to be audited. The same have been certified by the Management of the Company.

- PILL Finance and Investments Ltd.

The Company posted a net profit of Rs. 1.21 Mn during the year ended March 31, 2019.

JOINT VENTURES

- Solinnos Agro Sciences Pvt. Ltd

Your Company holds 49% equity in Solinnos Agro Sciences Pvt. Ltd through its subsidiary Company namely PI Life Science Research Limited and hence an associate Company. The Company posted a net profit ofRs. 0.62 Mn during the year ended March 31, 2019.

- PI Kumai Pvt. Ltd

Your Company holds 50% equity in PI Kumai Pvt. Ltd through its subsidiary Company namely PI Life Science Research Ltd and hence an associate Company. The Company posted a net profit of Rs. 0.29 Mn during the year ended March 31, 2019.

Pursuant to Section 129(3) of the Companies Act, 2013 read with Rule 5 of the Companies (Accounts) Rules, 2014,a statement containing salient features of the financial statements of the Subsidiary and Associate Companies is given in form AOC-1. Refer Annexure ‘A' to this Report. Your Company does not have any material listed subsidiary Company. In accordance with the provisions of Section 136 of the Companies Act, 2013, the Annual Report of the Company, containing the Standalone and Consolidated Financial Statements along with the Audited Annual Accounts of each Subsidiary Company have been placed on the website of the Company i.e. www.piindustries.com.

8. RISK MANAGEMENT POLICY AND INTERNAL CONTROLS

PI Industries' Risk Management structure spans across different levels and the Company continuously identifies, classifies and formulates mitigation measures. During the year, Risk Management Committee was formed comprising of 5 members including 3 Directors including one Independent Director. Major risks identified by the business and functions are systematically addressed through mitigating actions on continuing Related Party Transactions basis. Risk assessment is conducted periodically and the Company has a mechanism to identify, assess, mitigate and monitor various risks to key business objectives. The Internal Audit Function regularly reviews various risks and places the report before the Audit Committee of your Company from time to time.

The Board has adopted policies and procedures for ensuring orderly and efficient conduct of its business, including adherence to the Company's policies, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of the accounting records, and timely preparation of reliable financial disclosures.

Internal Control Systems are commensurate with the nature and size of Company's business and in view of the complexity of its business operations, these are designed to meet the challenges. The control system comprises of continuous audit and compliance by in-house internal audit team supplemented by internal audit checks by M/s KPMG India LLP., Internal Auditors of the Company. M/s PKF Sridhar & Santhanam have been engaged as the Depot uditors to perform the internal audit function, assess the internal controls and statutory compliances in various areas and also provide suggestions for improvement.

The Internal Auditors independently evaluate the adequacy of internal controls and concurrently audit the financial transactions and review the various business processes. Internal Audit reports are periodically placed before the Audit Committee of the Board. Independence of internal auditors is ensured through direct reporting to Audit Committee.

9. INTERNAL FINANCIAL CONTROLS AND ITS ADEQUACY

The Company has in place an adequate Internal Financial Controls, with reference to financial statements. The Company has identified and documented all key internal financial controls as part of its Internal Financial Control reporting framework. The Company has laid down well defined policies and procedures for all critical processes across Company's plant, offices wherein financial transactions are undertaken. The policies and procedures cover the key risks and controls in all the processes identified to respective process owner. In addition, the Company has a well-defined financial delegation of authority which ensures approval of financial transaction by appropriate personnel. The Company uses SAP ERP to process financial transactions and maintain its books of accounts to ensure its adequacy, integrity and reliability.

The financial controls are evaluated for operating effectiveness through Management's ongoing monitoring and review process and independently by Internal Auditors. In our view, the Internal Financial Controls over Financial Reporting are adequate and operating effectively as on March 31, 2019.

10. RELATED PARTY TRANSACTIONS

All Related Party Transactions entered during the year were in the ordinary course of business and on arms length basis. Most of the related party transactions were undertaken by the Company with its subsidiary Companies engaged in business development activities. There were no made by materially significant the Company during the year that would have required shareholder approval under the Listing Regulations/ Companies Act, 2013.

Prior omnibus approval of Audit Committee is obtained for the transactions which are foreseen and repetitive in nature. A statement of all Related Party Transactions is presented before the Audit Committee for its review on a quarterly basis, specifying the nature, value and terms and conditions of the transactions.

The Policy on Materiality of and Dealing with Related Party Transactions as approved by the Board is uploaded on the Company's website and can be accessed http://www.piindustries.com/Media/Documents/ Related%20Party%20Transactions%20Policy(r).pdf Your Company does not have any contracts or arrangements with its related parties falling under Section 188(1) of the Companies Act, 2013. Hence, the details of such contracts or arrangements with its related parties are not disclosed in Form AOC-2 as prescribed under the Companies Act, 2013 and the Rules framed thereunder. Your Directors draw attention of the Shareholders to Note No. 35 of the standalone financial statements which set out related party disclosures.

11. AUDITORS

Statutory Auditors and Auditor's Report

The shareholders of the Company at 70th AGM held on September 06, 2017 had appointed M/s. Price Waterhouse Chartered Accountants, LLP, (ICAI Registration No-012754N/ N500016), as the Statutory Auditors of the Company for an initial term of 5 years and accordingly they hold their office till the conclusion of Annual General Meeting to be held in 2022.

The Auditors' Report is unmodified i.e. it does not contain any qualification, reservation or adverse remark or disclaimer.

Cost Auditor

As per the requirements of the Section 148 of the Act read with the Companies (Cost Records and Audit) Rules, 2014 as amended from time to time, your Company is required to maintain cost records and accordingly, such accounts are made and records have been maintained relating to Insecticides (Technical grade and formulations) every year.

The Board of Directors, on the recommendation Committee, has appointed M/s K.G. Goyal & Co., Cost Accountants, Jaipur, as Cost Auditors to audit the cost accounts of the Company for the financial year 2019-20.

As required under the Act, a resolution seeking member's approval for the remuneration payable to the Cost Auditor forms part of the Notice convening the Annual General Meeting for their ratification.

Secretarial Auditor

The Board had appointed Mr. R.S. Bhatia (CP No.2514), practicing Company Secretary, to carry out Secretarial Audit in accordance with the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, for the financial year ended March 31, 2019. The Secretarial Audit Report for the financial year ended March 31, 2019 has been obtained and does not contain any qualification, which requires any comments from the Board. The Secretarial Audit Report for financial year ended March 31, 2019 is annexed to this report as Annexure ‘B'.

In terms of SEBI circular no. CIR/CFD/CMD1/27/2019 dated February 08, 2019, your Company has also obtained Secretarial Audit Report for the financial year ended March 31, 2019 issued by Mr. R.S. Bhatia, Practicing Company Secretary and the same has been submitted with SEBI in accordance with aforesaid circular.

12. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

The details of loans, guarantees and investments covered the provisions of Companies Act, 2013 are mentioned in Note No. 7(c) forming part of the Notes to the financial statements.

13. DEPOSITS

Your Company has not accepted any public deposits during the financial year 2018-19 and as such no amount of principal or interest was outstanding as on March 31, 2019.

14. TRANSFER OF UNCLAIMED DIVIDEND AND SHARES TO INVESTOR EDUCATION AND PROTECTION FUND

During the year, company had transferred an amount of Rs. 3,57,530/- towards unclaimed or unpaid dividend pending for more than seven years. Pursuant to the provisions of Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with Companies) Rules, 2012, the Company has uploaded the details of unpaid and unclaimed amounts lying with the Company as on August 06, 2018 (date of last Annual General Meeting) on the Company's website and on the website of the Ministry of Corporate Affairs. The details can be viewed at company's website at following link: http://www.piindustries.com/sites/default/files/Copy%20 of%20Unpaid%20Div%2015%209%2015%20all.pdf In accordance with the provisions of the Companies Act, 2013 read with IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, the Company has transferred 66,010 equity shares pertaining to shareholders in respect of which dividend was unclaimed for seven consecutive years to IEPF demat account through NSDL Audit corporate action pursuant to the provisions as contained in Sec 124(6) of the Companies Act, 2013 and rules made thereunder.

15. BOARD AND COMMITTEES

a) Board of Directors

Your Company is managed and controlled by a Board comprising an optimum blend of Executive and Non-Executive Professional Directors. The Chairman of the Board is a Non-Executive Independent Director. As on March 31, 2019, the Board of Directors comprised of Eight (8) Directors consisting of Managing Director & CEO,Whole-time Director and six (6) Non-executive Directors, out of which five (5) are Independent Directors including one Woman Director. The composition of the Board is in conformity with Regulation 17 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations,2015 and the relevant provisions of the Companies Act, 2013. All the Directors possess requisite qualifications and experience in general corporate management, operations, technical expertise, strategy, governance, finance, banking and other allied fields which enable them to contribute effectively to the Company in their capacity as Directors of the Company.

Declaration from all Independent Directors has been received confirming that they meet the criteria of independence as prescribed both under the Companies Act, 2013 and the Listing Regulations, 2015. under Mr. Ravi Narain ceases to be the Non-Executive Independent Director of the Company w.e.f. 1st May, 2019 consequent upon the order passed by SEBI in the matter of National Stock Exchange of India Ltd. on April 30, 2019. Board places on record its appreciation for the services rendered by Mr. Ravi Narain during his association with the Board of the Company.

In accordance with the provisions of the Companies Act, 2013 and Articles of Association of the Company, Mr. Rajnish Sarna, shall retire by rotation at the forthcoming Annual General Meeting and being eligible, offers himself for re-appointment. The Board recommends his re-appointment for the approval of the shareholders at the ensuing Annual General Meeting.

b) Evaluation of the Board's Performance

In compliance with the provisions of Companies Act, 2013 and Regulation 17 (10) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an evaluation of its own performance, Committees and performance of individual Directors during the year under review. The evaluation framework for assessing the performance of Directors comprised of criteria like quality of contribution to the Board deliberations, strategic perspective or inputs regarding future growth of Company and its performance, attendance of Board Meetings and Committee Meetings and commitment to shareholder and other stakeholder interests. The evaluation involves Self-Evaluation by the Board Members and subsequent assessment by the Board. A member of the Board does not participate in the discussion of his/her evaluation.

c) Number of Board Meetings conducted during the year under review

A calendar of Meetings is prepared and circulated in advance to the Directors. During the year, Board of Directors met four (4) times. The details of the Board meetings and attendance of the Directors are provided in the Corporate Governance Report.

d) Composition of Committees Audit Committee

As on March 31, 2019, Audit Committee comprises of Mr. Narayan K. Seshadri as the Chairman, Mr. Rajnish Sarna, Ms. Ramni Nirula and Mr. Ravi Narain as the members. Further, details on the Audit Committee reference, meetings held during the year are given alongwith other committee details as provided in the Corporate Governance Report.

e) Recommendations of Audit Committee

There have been no instances during the year when recommendations of the Audit Committee were not accepted by the Board. Details on other committees including their composition, terms of reference are given in the Corporate Governance Report.

f) Directors Responsibility Statement

In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submits its responsibility statement:- (a) in the preparation of the annual accounts for the year ended March 31, 2019, the applicable accounting standards had been followed; (b) the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at March 31, 2019 and of the profit of the Company for that period;

(c) the Directors had taken proper and sufficientcare for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; (d) the Directors had prepared the annual accounts on a going concern basis;

(e) the Directors, had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively ensuring the orderly and efficient conduct of its business including adherence to Company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records and the timely preparation of reliable financial information and (f) the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

16. CHANGES IN KEY MANAGERIAL PERSONNEL

There has been no change in any Key Managerial Personnel of the Company during the year ended March 31, 2019.

17. ANNUAL RETURN

Pursuant to Sec 92(3) and Section 134 (3) of the Companies Act, 2013 read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the extract of Annual Return is available on Company's website and can be accessed at: https://www.piindustries.com/investor-relations/Financials/ annual-reports

18. EMPLOYEES

a) Remuneration policy of the Company

The Remuneration policy of your Company comprising the appointment and remuneration of the Directors, Key Managerial Personnel and Senior Executives of the Company including the criteria for determining qualifications, positive attributes, independence of a Director and other related matters have been provided in the Corporate Governance Report, which forms a part of this report.

b) Human Resources and Trade Relations

During the year under review, your Company augmented its workforce by welcoming 669 new employees across all businesses, functions and locations. With a view to enhancing capability and making the organisation future ready, special emphasis was placed on upgrading the level and quality of learning and development initiatives. The Learning Management Solution launched during the year enables employees to own and take charge of their learning. Participation levels and feedback helps management calibrate and make adjustments to the curricula and its deployment. In addition, embracing technology, your Company added 104 e-learning courses to the LMS platform, providing employees a rich cornucopia of programmes to choose from, tailored to their needs. These were supplemented by structured management development and leadership development programmes.

With a view to systematically identifying and developing the next generation of leaders, a structured Talent Review was conducted for senior management personnel across businesses. The review focused on the strengths, development areas and potential of the target personnel and identified action plans for each of them. Inputs from this review were used in the succession planning process. Demonstrating that "we care", your Company launched a holistic wellness initiative for employees and their families focusing on their physical, mental and emotional well-being. Programmes were held throughout the year in accordance with a pre-published wellness calendar. The stepathlon competition launched during the year saw enthusiastic participation. This was supplemented by health camps, yoga sessions and fitness programs, all of which were well received.

Communication is a key element in employee engagement and employee town halls were held to cascade the Company's vision, strategy and performance. Other employee friendly measures launched during the year included:

- Advancing pay day from the 5th to the 1st working day of the month by recasting the payroll processing schedule.

- Restructuring sales incentives to better align it with industry practice; our financial results testify to the success of this initiative.

- Advancing the dates of completion and appraisals and increments.

Technology is and will be a key game-changer and your Company is an industry leader in the use of technology to drive efficiency and performance.

In the field of HR, the year saw the continued implementation of HR solutions through Success Factor and improvements to the modules implemented in earlier years. Not all technology initiatives need be big and glamorous. By the simple expedient of introducing electronic increment letters, not only did we ensure quicker transmission to employees but also contributed to the environment by saving copious quantities of paper. To provide our visitors a richer visitor experience at our offices and plants, a new tech-enabled visitor management system was launched during the year.

While much has been done, we are acutely conscious of the fact that much remains to be done to make PI a leading employer. We are committed to intensifying our efforts in the coming years to achieve this objective.

During 2018-19, your Company continued to have cordial relationship with all its employees and maintained healthy, cordial and harmonious industrial relations at all levels.

Total permanent workforce of your Company stood at 2331 as on March 31, 2019.

c) Policy on Prevention, Prohibition and Redressal of Sexual Harassment at Workplace

Your Company has a zero tolerance for any abuse against Women at Workplace. Policy on Prohibition, Prevention and Redressal of Sexual Harassment of Women at Workplace and matters connected therewith or incidental thereto covering all the aspects as required under the "The Sexual Harassment of Women at Workplace (Prohibition, Prevention and Redressal) Act, 2013". The Company has constituted Internal Complaints Committee (ICC) known as Prevention of Sexual Harassment (POSH) Committee to enquire in to complaints of Sexual Harassment and recommend appropriate action. The Company has not received any complaint of sexual harassment during the financial year 2018-19.

d) Particulars of Employees and related disclosures

The information required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 forms part of this Report and annexed asAnnexure ‘C'. However, as per first proviso to Section 136(1) of the Act and second proviso of Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Report and Financial Statements are being sent to the Members of the Company excluding the statement of particulars of employees under Rule 5(2). However, they are available for inspection during business hours upto the date of the next Annual General Meeting at the registered office of the Company. Any member interested in obtaining a copy of the said statement may write to the Company Secretary at the Registered Office of the Company.

Your Directors place on record their appreciation of the valuable contribution made by the employees of your Company.

e) Employee Stock Option Plan / Scheme

Your Company discontinued in the year 2017-18, grant of stock options under PII-ESOP Scheme, 2010 as per the recommendations of Nomination & Remuneration Committee of the Board. The stock options already granted would vest as per the conditions contained in the grant letter. As per the ESOP scheme, stock options shall vest after a lock in period of one year from the date of grant. The stock options vest in graded manner over a vesting period of four (4) years. The exercise price of stock options granted have been arrived by giving discount to the closing market price of the equity share on National Stock Exchange India Limited one day prior to the date of grant of option. Voting rights on the equity shares issued to employees under the ESOP Scheme are either exercised by them or through their appointed proxy. No employee has been issued stock options equal to or exceeding 1% of the issued capital of the Company at the time of grant. Details of options as required under SEBI regulations is given in Annexure ‘D'.

19. VIGIL MECHANISM – WHISTLE BLOWER POLICY

Your Company has established a vigil mechanism for Directors and employees to report their genuine concerns, as approved by the Board on the recommendation of the Audit Committee. The Whistle Blower Policy of the Company is formulated and uploaded on the Company's website at the following weblink: http://www.piindustries.com/Media/Documents/Whistle%20Blower%20Policy(r).pdf

The Policy provides for adequate safeguards against victimization of employees who avail of the mechanism and also provides for direct access to the Chairman of the Audit Committee. It is affirmed that no personnel of the Company has been denied access to the Audit Committee.

20. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

The information pertaining to conservation of energy, technology absorption, foreign exchange earnings and outgo as required under Section 134 (3)(m) of the Companies Act, 2013 read with Rule 8(3) of the Companies (Accounts) Rules, 2014 is furnished in Annexure ‘E' attached to this report.

21. CORPORATE SOCIAL RESPONSIBILITY ("CSR") AND RELATED MATTERS

In accordance with the requirements of Section 135 of the Companies Act, 2013, your Company has a CSR Committee comprising four members with Mr. Pravin K. Laheri as Chairman, Mr. Mayank Singhal, Mr. Rajnish Sarna and Ms. Ramni Nirula as Members. Your Company also has formulated a Corporate Social Responsibility Policy (CSR Policy) which is available on the website of the Company at http://www.piindustries.com/sustainability/CSR/CSR-Policy You r Company carried out the CSR activities Foundation, a Trust set up by PI Industries Ltd, During the year, PI Foundation undertook several CSR initiatives under the following few categories:

- Water

- Education and Talent Nurturing

- Healthcare

- Hygiene & Sanitation

- Livelihood Enhancement

- Sustainable Agriculture

- Skill Development

- Employee Engagement through CSR

During the financial year 2018-19, the Company has contributed an amount of Rs. 92.9 Mn. to PI Foundation, aggregating to 2% of its average net profits for preceding 3 financial years. The PI Foundation has spent an amount of Rs. 98.54 Mn during the financial year 2018-19.

The details of CSR activities undertaken by the Company are highlighted in the report provided under the Companies (Corporate Social Responsibility Policy) Rules, 2014 in Annexure ‘F' which is attached to this report.

22. CORPORATE GOVERNANCE

Your Company takes pride in its Corporate Governance structure and strives to maintain the highest possible standards. A detailed report on the Corporate Governance code and practices of the Company along with a certificate from the auditors of the Company regarding compliance of the conditions of Corporate Governance as stipulated under Regulation 34 of SEBI (LODR) Regulations,2015 forms part of the report. Annexure ‘G'.

23. MANAGEMENT DISCUSSION AND ANALYSIS

A detailed report on the Management Discussion and Analysis is provided separately forms part of the Annual Report.

24. BUSINESS RESPONSIBILITY REPORT

SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015 requires top 500 listed Companies by Market capitalisation to provide Business Responsibility Report in their Annual Report.

Your Company falls under the top 500 Listed Companies by market capitalisation and accordingly a Business Responsibility Report, describing the initiatives taken by the Company from an environmental, social and governance perspective, forms part of this Report.

25. CHANGES IN SHARE CAPITAL

During the year, your Company had issued 1,23,333 Equity Shares of Re. 1/- each, which were allotted to PII ESOP Trust (Trust), set up to administer PII Employee Stock Option Plan-2010. The Trust allocates these shares to the employees of the Company and its subsidiaries upon exercise of stock options from time to time under the aforesaid Scheme. As a result of this allotment, the paid-up equity share capital PI of your Company increased to Rs. 13.80 cr.(comprising of 13,80,30,651 Equity Shares of Rs. 1/- each as on March 31, 2019) from Rs. 13.79 cr. (comprising of 13,79,07,318 Equity Shares of Rs. 1/- each as on March 31, 2018).

26. GENERAL

Your Directors state that no disclosure or reporting is required in respect of the following items as there were no transactions on these items during the year under review:- a) Issue of equity shares with differential rights as to dividend, voting or otherwise.

b) Issue of shares (including sweat equity shares) to employees of the Company under any scheme saved and except issued under ESOP Scheme as referred to in this Report. c) Neither the Managing Directors nor the Whole-time Director of the Company received any remuneration or commission from any of its subsidiaries were passed by d) the No significant

Regulators or Courts or Tribunals, which impact the going concern status and Company's operations in future.

Furt her, there have been no material changes commitments, if any, affecting the financial position of the Company which have occurred between the end of the financial year of the Company to which the financial statements are related and the date of the report.

27. ACKNOWLEDGEMENTS

Your Directors wish to express their grateful appreciation for the valuable support and co-operation received from bankers, business associates, lenders, financial institutions, shareholders, various departments of the Government of India, as well as the State Governments of Rajasthan & Gujarat, the farming community and all our other stakeholders.

The Board places on record its sincere appreciation towards the Company's valued customers in India and abroad alongwith its joint venture partners for the support and confidence reposed by them in the organization and looks forward to the continuance of this supportive relationship in the future.

Your Directors proudly acknowledge the contribution and hard work of the employees of the Company and its and subsidiaries at all levels, who, through their competence, hard work, solidarity and commitment have enabled the Company to achieve consistent growth.

On behalf of the Board of Director
For PI Industries Ltd.
Sd/-
Narayan K. Seshadri
Place: Gurugram Chairman
Date: May 17, 2019 DIN: 00053563

   

P I Industries Ltd Company Background

Narayan K SeshadriMayank Singhal
Incorporation Year1946
Registered OfficePost Box No 20,Udaisagar Road
Udaipur,Rajasthan-313001
Telephone91-294-2492451-55,Managing Director
Fax91-294-2491946
Company SecretaryNaresh Kapoor
AuditorPrice Waterhouse Chartered Accountants LLP
Face Value1
Market Lot1
ListingBSE,MSEI ,NSE,
RegistrarKFin Techologies Pvt Ltd
Karvy Selenium Tow-B,31&32 Financial Dist,Nanakramguda ,Hyderabad-500032

P I Industries Ltd Company Management

Director NameDirector DesignationYear
Salil Singhal Chairman Emeritus 2019
Mayank Singhal Managing Director 2019
Narayan K Seshadri Chairman & Independent Directo 2019
Pravin K Laheri Independent Director 2019
Ramani Narula Independent Director 2019
Naresh Kapoor Company Secretary 2019
Rajnish Sarna Whole-time Director 2019
TS Balganesh Independent Director 2019
Arvind Singhal Director 2019
Raman Ramachandran Whole-time Director 2019

P I Industries Ltd Listing Information

Listing Information
BSE_500
BSE_200
BSEDOLLEX
CNX500
BSEMID
CNXMIDCAP
CNX200
CNXCOMMODI
NFTALPHA50
BSEALLCAP
BSEMETERIA
BSEMIDSELE
MID150
LMI250
MSL400

P I Industries Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Agro Chemicals NA 0003246.8
Export Incentives NA 00057.2
Scrap Sales NA 0001.6
Sale of Services NA 0001.2
Other Operating Revenue NA 0000
Others Ton0000
Sales NA 0000
Insurance Claims NA 0000
Chemicals Ton0000
Organo Phosphorus Compound Ton0000
Specialty Chemicals NA 0000
Other Trading Sales NA 0000
Agro Chemicals-Trading NA 0000
Pesticides Formulations Ton0000
Plant Nutrients NA 0000
Polymer Products Ton0000
Polyurethane & Others Ton0000

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