Business Standard

China challenge for Indian agrichemicals firm PI Industries

One positive from PI Industries' perspective is the diversification of its revenue base into pharmaceuticals

A farmer sprays pesticides at a mustard field, in Kamrup district of Assam, Thursday, Nov. 30, 2023. (PTI Photo)

Ram Prasad Sahu

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The stock of agrichemicals major PI Industries is down 11.3 per cent over the last two trading sessions, pulled down by worries that competition for a key product could hurt the company’s revenues. The stock was under pressure for a second consecutive session despite the management indicating no impact on Financial Year 2023-24 (FY24) guidance or growth.

The Street’s concern is the recent announcement by China's Shandong Weifang Rainbow Chemical to set up a 2,000 million tonnes per annum facility to manufacture an herbicide called pyroxasulfone. It is the third Chinese company to announce a capacity for pyroxasulfone, increasing pressure on

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First Published: Dec 13 2023 | 3:46 PM IST

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