The shares of this leading agrochemical company gained up to 4.5 percent to Rs 3,737.50 per share on Thursday after the company reported strong Q2 results.
With a market capitalization of Rs 56,581 crores, On Tuesday, PI Industries Ltd shares were trading at Rs 3,726 a share, up Rs 146.90 or 4.08 percent from the previous close price.
According to the company’s exchange filing.PI Industries Ltd reported a 20 percent increase in revenue year on year, from Rs 1,770 crore in Q2FY23 to Rs 2,116 crore in Q2FY24. During the same period, net profit increased by 44 percent from Rs 334 crore to Rs 480 crore.
In comparison to the previous quarter, operational revenue increased by 11 percent from Rs 1,910 crore in Q1FY24 to Rs 2,116 crore in Q2FY24, Further net profit has risen by 25 percent from Rs 382 crore to Rs 480 crore.
PI Industries shares have gained 7.12 percent in the last six months and 2.32 percent in a year.
The Company’s return on equity increased from 13.78 percent in FY22 to 17.07 percent in FY23, while the return on capital employed rose from 16.17 percent to 20.20 percent during the same period.
The Pharma business contributed to the company’s Export revenue of Rs. 71.9 crore i.e. 6 percent of total Export revenue growth. Gross Margin improved to 47 percent, an improvement of 135 bps year on year mainly on account of a better product mix.
As per the recent shareholding pattern, the company promoters hold a 46.09 percent stake in the company, while Domestic Institutional Investors hold a 23.27 percent stake, and Foreign Institutional Investors hold a 20.01 percent stake in the company.
PI Industries Ltd is a leading player in the agro-chemicals space having a strong presence in both Domestic and Export markets.
Written by Omkar Chitnis
