PI Industries crashes 20% to six-year low, support at 1,500

PI Industries fell as much as 20% after Q2 profit dropped 70.1% to Rs 122.2 crore, with support at Rs 1,500 and resistance at Rs 2,250. PI Industries Limited [ PIIND ] fell as much as 20% to Rs 1,749.50 on 5 November, its lowest level since September 2020, after weak Q2 FY27 results. The stock traded near Rs 1,769, about 63.6% below its September 2024 high. Consolidated profit fell 70.1% to Rs 122.2 crore from Rs 409.3 crore. Revenue fell 9.1% to Rs 1,701.8 crore from Rs 1,872.3 crore. EBITDA margin dropped to 13.7% from 28.9%, as agrochemical exports fell about 18%, input costs rose and pricing pressure grew. The weekly chart shows a persistent downtrend of lower highs and lower lows since the September 2024 peak, now accelerating. A bounce needs to reclaim Rs 2,250, the earlier breakdown zone, to matter. Support is Rs 1,500. Resistance is Rs 2,250. A weekly close below Rs 1,500 would extend the fall. A weekly close above Rs 2,250 would signal a trend change. Margin recovery is now the main factor. The next results need to show whether the pressure from input costs and pricing is easing. Volume at the Rs 1,749.50 low is the key signal today. Disclosure: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.