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PI Industry:
 Strong Presence in Agro-Chemicals: PI Industries Ltd is a leading player in the agro-
chemicals space with a robust presence in both domestic and export markets. Its wide
portfolio of chemicals, including insecticides, fungicides, and herbicides, positions it
well to cater to the needs of farmers globally.
 Global Reach and Revenue Visibility: The company's global presence in over 30
countries and strong export order book valued at $1.5 billion for the next 3-4 years
provide revenue visibility and growth opportunities.
 Manufacturing and Distribution Network: With state-of-the-art manufacturing
facilities and an extensive distribution network, PI Industries Ltd can efficiently meet
the demand for its products and reach a vast number of farmers and retailers.
 Research and Development (R&D): PI Industries Ltd.’s focus on research and
development, with significant investments and advanced infrastructure, underscores
its commitment to innovation and product development. This can lead to the creation
of new products and further expansion of its product portfolio.
 Strategic Initiatives: The Company’s entry into the pharmaceutical industry, successful
development of a COVID-19 drug intermediate and the acquisition of is agro
demonstrates its strategic diversification and growth initiatives.
Financial Models:

1. Dhandho Method

2. Ben Grahams
 3. DCF Method

Future Predictions:
 Metric UPL LTD PI Industries Ltd
Leading provider of agricultural solutions and Strong player in agro-chemicals;
services with a global presence; 5th largest wide product portfolio; strong global
Business Overview agrochemical company globally presence
No. 1 crop protection player in India; significant
Market Leadership global presence Not specified
~76% from active ingredients and intermediaries;
Revenue Breakup ~23% from sale of formulations Not specified
Presence in ~140 countries; 41% revenue from Latin Presence in 30+ countries; 77%
Global Presence America, 16% from North America, 14% from Europe revenue from exports
Manufacturing 5 formulation facilities and 13 multi-
Facilities 43 manufacturing facilities across the globe product plants
Research & ~30 R&D facilities globally; ~3% of sales invested in Significant investments in R&D;
Development R&D research-intensive business
Strong export order book valued at $1.5 billion for
Revenue Visibility next 3-4 years Not specified
Strategic Entry into pharmaceutical industry; successful Acquisition of Isagro; entry into
Initiatives development of COVID-19 drug intermediate pharma industry
Highly undervalued based on DCF and Ben Graham Significant overvaluation based on
Valuation Models Formula DCF and Ben Graham Formula