PI Industries Ltd.

NSE: PIIND | BSE: 523642 | ISIN: INE603J01030 | Industry: Agrochemicals
| Mid-range Performer
4172.0000 121.90 (3.01%)
NSE Jul 15, 2025 15:31 PM
Volume: 126.0K
 

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PI Industries Ltd.
08 Jun 2020
4172.00
3.01%
Motilal Oswal
8 June 2020 Operating performance of PI Industries (PI) was subdued due to the COVID- 19 pandemic, resulting in deferment of revenue. This in turn, led to decline in domestic agrochemicals segment with some growth moderation in Custom Synthesis and Manufacturing (CSM) business. PI has successfully marked its entry into the pharma value chain, which it has worked on since the last 4-5 years. The company has tied up with a few large pharma companies in Japan and India (supplies should start from 1QFY21), which we believe is a commendable feat. We maintain our estimates for FY21/FY22E and value the stock at 30x FY22E EPS to arrive at a TP of INR1,835, implying 15% upside. 4QFY20 revenue of INR8.6b (v/s est. Isagros performance, which was absent in the base quarter). EBITDA stood at INR1.86b (v/s est. INR2.08b), up 7% YoY; EBITDA margins expanded 20bp YoY to 21.8% (v/s est.
Number of FII/FPI investors decreased from 766 to 750 in Mar 2025 qtr
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