Agrochemicals manufacturer PI Industries' share price went up by over 1,20,000% from 2003 to 15, multiplying investors' returns by more than 1,200 times.

So, if you had invested Rs 1 lakh in the PI Industries shares in the beginning of 2003, the investment would have grown to Rs 12 crore by the end of December last year.

Besides, the stock has given positive returns for 13 years in a row since 2003, marking the longest streak in Asia. PI Industries ranks 175 among listed entities in India in terms of market capitalisation.

The astonishing rally in the stock comes on the back of transformation of the company into a big enterprise with several manufacturing plants and a research and development facility, with a headcount of 1,600.

The company's Managing Director, Mayank Singhal, plans to take its growth to new heights in the coming years, Bloomberg reported.

Singhal said that the company expects to grow its earnings by about 20% annually in the next five years.

"We are confident that we will be able to grow our order book from $650 million at a steady clip," said Singhal, who's also a member of PI's controlling shareholder family. "We are focusing on expanding our knowledge and technology capabilities. This will enhance our operating leverage and margins."

PI Industries develops and manufactures pesticides by licensing patents owned by its global partners such as BASF SE, Syngenta AG and Dow Chemical Co.

Expanding its product portfolio has enabled PI Industries to grow its order book to $650 million so far this year even as its chemical business fluctuated on agricultural output and weather conditions.

PI's shares rose from a closing price of Rs 0.53 on 31 December, 2012, to Rs 649.05 on 31 December, 2015.

"While PI is "one of the best plays" in the agrochemicals industry because of its capital efficiency, a balance sheet with little debt and robust growth outlook, the company is exposed to risks from the vagaries of Indian monsoon rains and a decline in farmers' incomes," said Niket Shah, an analyst at Indian brokerage Motilal Oswal Securities Ltd.

The company posted net income of Rs 246 crore ($37 million) in the last fiscal year ending 31 March, 2015.

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