BSE See NSE See 48,803.68
259.62 (0.53%)

Shares of PI Industries scale all-time high after robust June results

Anthony Fernandes
/ Categories: Mindshare, DSIJ News
Rate this article:
Shares of PI Industries scale all-time high after robust June results

The shares of PI Industries were trading in the green on Wednesday and even rallied to hit an all-time high of Rs 1,966 apiece on BSE after the company reported robust numbers for the first quarter of the financial year 2020-21.

Taking into consideration the consolidated financials for the quarter, revenue was reported at Rs 1,060 crore, increasing by 41 per cent YoY. The company reported earnings before interest, taxes, depreciation and amortisation (EBITDA) at Rs 236 crore, up by 55 per cent from Rs 153 crore in the same period for the previous fiscal year. The consolidated net profit of the company surged by 43 per cent to Rs 146 crore in Q1FY21 from Rs 102 crore in the corresponding quarter for the previous fiscal year.

The gross margin, however, slipped by 280 bps to 42 per cent in Q1FY21 from 45 per cent in the June quarter of FY20 owing to the change in business mix of export, domestic, and Isagro.

The company noted that its exports increased by nearly 23 per cent YoY, driven mainly by proactive raw material, inventory management, and capacity planning.

Looking forward, the business outlook remains robust, given that the company plans to launch two new products in the second or third quarter of the current financial year.

On Wednesday, the stock of PI Industries closed at Rs 1,896.20 per share, higher by 3.53 per cent or Rs 64.65 per share on BSE, against a 0.07 per cent decline in the benchmark index. The 52-week high is recorded at Rs 1,966 and the 52-week low is Rs 973.70 on BSE.

Previous Article Sensex, Nifty end flat; Sun Pharma Advanced Research leaps by nearly 7 per cent, EID Parry down by nearly 4 per cent
Next Article Q1FY21 results: Tasty Bite Eatables net profit falls by 81.57 per cent YoY
Please login or register to post comments.