Agrochemicals company PI Industries announced Q4FY23 & FY23 results: Q4FY23: Overall 12% YoY revenue growth 15% growth in exports led by price, currency, and favourable product mix of ~17% offset by volume decrease of ~2% Domestic growth at 1% YoY is driven by a volume increase of ~2% offset by a price decrease of ~1% Gross margin improved on account of a favourable product mix 37% increase in PAT attributable to EBITDA growth despite higher depreciation Cash generated from operations before tax during Q4FY23 is Rs 5,729 million (Q4FY22 Rs 2,640 million) Trade working capital was reduced by Rs 2,237 million during Q4FY23 The board proposed a final dividend for FY23 of Rs 5.50 per share, aggregating to a total dividend for FY23 of Rs 10.00 per share FY23: Total capex for FY23 is Rs 3,385 million (FY22 Rs 3,204 million) Actual capex spend is in line with the plan A key focus of driving higher capacity utilisation by improving throughput Operating profit before working capital changes is Rs 15,522 million (FY22 Rs 12,314 million) Inventory levels reduced in terms of Days of Sales to approx. 79 days to Rs 13,976 million Improved working capital cycle to 79 days as of 31-Mar-23 vs. 103 days as on 31-Mar-22 Cash flow from operating activities is Rs 15,014 million (FY22 Rs 5,287 million) The surplus cash net of debt is Rs 32,343 million. QIP funds remained invested into deposits and debt mutual funds with SLR philosophy while final deployment aligned with PI’s longer-term growth strategy is underway. Capitalised PI Health Sciences (PIHS) for planned acquisitions and capacity build-up Result PDF