business company Basic Consolidated and the trend P I Industries Ltd: Press Release

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1 PI Industries Ltd s Q2 FY20111 net profit up 46% Strong momentum m in Agri-Input in Custom Synthesis business Growing orders pipeline New Delhi, November 09, 2010: PI Industries Limited (PI), a leading Indian Agri-Input, Custom Synthesis and Polymer Compounding company today announced its financial results for the second quarter ended September 30, Financial Highlights for the quarter endedd 30 th September, 2010 (Compared to Q2 FY10) Net Revenue at Rs million, up by 20% EBITDA at Rs million, up by 37%. EBIDTA margin at 18.4% Profit Before Tax at Rs million, up by 58% Net Profit at Rs million, up by 46%. Net margin att 10% Financial Highlights for the half-year ended 30 th September, 2010 (Compared to H1 FY10) Net Revenue at Rs million, up by 18% EBITDA at Rs million, up by 24%. Profit Before Tax at Rs million, up by 45% Net Profit at Rs million, up by 42% Basic EPS increased to Rs per share from Rs last year. Consolidated net profit at Rs million, up by 43% Commenting on the Company s performance Mr. Salil Singhal, Chairman, PI Industries Ltd., said: The agrochemical industry on the back of the growing focus on agriculture, is witnessing rapid growth. This is providing various opportunities for established companies like PI with a legacy of over five decades and strong brand equity with the farmers. Our Agri-Input business has reported strong performance and the trend

2 would continue going forward. Our custom synthesis business is expected to witness a significant ramp up after two steady quarters due to planned customer delivery schedules. The order book position is strong and given our investments in infrastructure, research & people we believe we have built a platform to achieve the next level of growth. Mr. Mayank Singhal, Managingg Director & CEO, PI Industries Ltd., added: Our Agri-Inpumonsoon. Sales of our existing as well as newly launched brands, including Nominee Gold have recorded stellar growth. We have forged strategic partnerships with other leading agrochemical companie s, which not only enhance the sales of our products, but also enlarge our product portfolioo to enable us to provide bigger range of solutions to Indian farmers. The custom synthesiss revenues are slated to significantly ramp-up in Q3 & Q4 and we are on track to meet our objectives for the full year. Over the years we have forged strong relationships with innovator companies, which enables us to get into collaborative partnerships rather than a production-sale model. We expect a significant contribution in business activity given strong order book position in excess of US $ 225 million and many more orders in pipeline. The polymer compounding business continues to benefit from the spurt in demand of key end user industries such as auto, constructio on & engineering. Our demonstrable business model is poised to deliver a strong upside both in terms of revenues & earnings. business is on a healthy growth path on the back of a good Outlook Continued revenue growth and margin expansion in Agri-Input driven by: o Increased crop acreage and improved water resources promising for a bumper Rabi Season o Excellent demand scenario of key brands o Robust pipeline of new products under registration and field trials. o Strong govt. focus and policy initiatives to enhance agriculture productivit ty

3 Custom Synthesis business poised for strong revenue growth and margin expansion momentum driven by: o Order book position in excess of US $ 2255 million and growingg o Significant growth to accrue based on patented commercia alized molecules and newly o Sustainable growth supported by a robust pipeline of molecules under different stages of development and growing customer base o Capacity enhancem ment planned in line with contracts on hand o Excellent customer relationship built on our past performance

4 About PI Industries Ltd. (PI) Incorporated in 1947, PI Industries (BSE: , ISIN ID: INE603J01014) focuses on Agri-Input, Custom Synthesis & Polymer Compounding with strength of over 1,100 employees, PI Industries currently operates three formulation and two manufacturing facilities as well as four multi product plants under its three business units across Jammu and Gujarat. These state-of-art facilities have integrated process development teams with in-house engineering capabilities. P I Industries is into following business areas: Agri-Input Business PI is one of India s leading players in the Agri-Inpuflagship business (unit) for which PI enjoys tremendous brand recognition across several industry industry, primarily dealing in agro-chemicals, specialty fertilizers, plant nutrients and seeds. This venture is the leading products. The Company has exclusive rights with several global Corporations for distribution in India and is constantly evaluating prospects to furtherr expand its product portfolio. Given the inevitable surge in demand for food grain production in the agriculture sector, the opportunities for Agro-Cheleveraging its long-standing association withh business partners and intensive network of distributors across India. Custom Synthesis Business The Fine Chemicals business unit of PI focuses on Custom Synthesis which entails dealing in custom synthesis and contract manufacturing of chemicals ncluding techno commercial evaluation of chemical processes, process development, lab & pilot Companies are innumerable. PI Industries is favorably positioned to contribute to the growth in this space by scale up as well as commercial production. The Company has an impressive product portfolio as result of exclusive tie-ups with leading agro-chemical, pharmaceutical and fine chemical companies around the world. PI has made substantial investments in building state of art process research and manufacturing facilities of chemical intermediates and active ingredients with special focus on strong process R&D capabilities. This business unit is expected to be the primary growth driver with strong revenue visibility as India continues to be a preferred destination for outsourcing Custom Synthesis and contract manufacturing related projects. With exceptional growth opportunities in the offing this business segment is poised for great success. Polymer Compounding Business This business focuses on manufacturing of various engineering plastic compounds from Polycarbonate (PC), Poly Phenylene Ether ( PPE), and Poly Butylene Ptheraphthalate (PBT) Poly Amides (PA6 & 66), Polypropylene (PP) to name a few. These compounds find application in Automotive, Appliances (White goods), Electrical and Electronics, Submersible Pumps, Light & Heavy Engineering industries. This sector is characterized by highh barriers to entry. PI is well equipped to capitalize on that. With India becoming the new automobile hub and given its high rate of growth, this business unit / segment has stupendous scope for growth. For further information please visit: For further information, please contact: Mayur Maniyar/Siddharth Rangnekar Citigate Dewe Rogerson Tel: Tel: mayur@cdr-india.com siddharth@cdr-india.com Rajnish Sarna PI Industriess Limited Tel: Fax: r.sarna@piind.com Disclaimer: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated byy the relevant forward-looking statements. PI Industries Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

5 P I Industries Ltd UN-AUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30th SEPTEMBER, 2010 (Rs. in Lakhs) S.No. Particulars Quarter Ended Half Year Ended Year Ended Audited 1 Gross Sales/ Income from operations 20, , , , , Less : Excise Duty 1, , , , a. Net Sales/ Income from operations 18, , , , , b. Other Operating Income Total Operating Income (1) 18, , , , , Expenditure a. (Increase)/decrease in stock in trade/ work in progress (277.26) (1,758.64) (378.41) b. Consumption of raw materials 10, , , , , c. Purchase of traded goods , , d. Employees cost 1, , , , , e. Depreciation , f. Other expenditure 2, , , , , Total Expenditure (2) 15, , , , , Profit from Operations before other income, interest & Exceptional items 3, , , , , Other Income Profit before Interest & Exceptional items (3+4) 3, , , , , Interest/Financial Charges (Net) , , Profit after Interest but before Exceptional item (5-6) 2, , , , , Exceptional items Profit from Ordinary Activities before tax (7-8) 2, , , , , Tax expenses -Current Tax , Income Tax of Earlier Years (19.98) -Deferred Tax Net Profit from ordinary activities after tax (9-10) 1, , , , , Extraordinary Item Net Profit for the period (11-12) 1, , , , , Paid-up equity share capital (Face Value Rs. 10/- each) 1, , Reserve excluding revaluation reserve , Basic EPS* (in Rs./Share) Dilutive EPS* (in Rs./Share) Public Shareholding - Number of Shares 3,214,764 1,772,350 3,214,764 1,772,350 1,772,350 - Percentage of Shareholding 28.74% 25.01% 28.74% 25.01% 25.01% 19 Promoters and promoter group Shareholding a. Pledged/Encumbered - Number of shares NIL NIL NIL NIL NIL - % of the total shareholding of promoter and promoter group 0% 0% 0% 0% 0% - % of the total share capital of the Company 0% 0% 0% 0% 0% b. Non-encumbered - Number of shares % of the total shareholding of promoter and promoter group 100% 100% 100% 100% 100% - % of the total share capital of the Company 71.26% 74.99% 71.26% 74.99% 74.99% * Actuals for the quarter and period not annualised SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED (Rs. in Lakhs) S.No. Particulars Quarter Ended Half Year Ended Year Ended Audited

6 1 Segment Revenue : Net Sales/Income from each segment a. Chemicals 16, , , , , b. Others 1, , , , , Sub Total 18, , , , , Less: Inter Segment revenue - Net sales / income from operations 18, , , , , Segment Results : Profit before tax and interest from each segment a. Chemicals 2, , , , , b. Others Sub Total 3, , , , , Less: Interest/Financial Charges (Net) , , Other un-allocable expenditure net of unallocable inc Total Profit Before Tax 2, , , , , Capital Employed a. Chemicals 38, , , , , b. Others 3, , , , , Total Capital Employed 41, , , , , Notes: 1 The above financial results were reviewed and approved by the Administrative Committee of the Board of Directors at their meeting held on 9th November, The Statutory Auditors of the Company have carried out a limited review of these results. 3 Pursuant to the approval of shareholders, the company has alloted lacs fully paid-up equity shares of Rs.10 each as Bonus Shares in the ratio of 1:2 aggregating to Rs lacs to all the members as on 10th July 2010.Further in accordance with Accounting Standard 20 (AS-20), the Earning per Share for current and comparative period has been recomputed after adjusting for the Bonus Issue. 4 Statement of Assets & Liabilities Particulars Sources of Funds (Rs. in Lakhs) Half Year Ended Year Ended Audited Shareholders' Fund a) Capital 1, , b) Reserves and Surplus 16, , , , , , Loan Fund 20, , , Deferred tax Liability 2, , , Total 41, , , Application of Funds Fixed Assets 25, , , Investments Current Assets, Loans and Advances a) Inventories 14, , , b) Sundry Debtors 12, , , c) Cash and Bank Balances d) Loans and Advances 5, , , , , , Less: Current Liabilities and Provisions a) Liabilities 15, , , b) Provisions , , , Net Current Assets 16, , , Miscellaneous Expenditure (Not Written off or adjusted) Total 41, , , Status of Investor Complaints during the quarter, pursuant to clause 41 of the listing agreement: Opening (NIL); Received (10); Disposed (10); Closing (NIL). 6 The previous period's figures have been regrouped / rearranged/ reclassified wherever necessary. For PI Industries Ltd. Place: Gurgaon (Salil Singhal) Date : Chairman & Managing Director