New Research Reports

PI Industries has offered to acquire UK based listed company Plant Health Care Plc (PHC) for a sum of £32.8 million which is in the agriculture biological space. It has experience in protein/peptide technology.

Diagnostics business to see strong growth

Company reported a revenue of Rs. 674 crore (up 3.5% y-o-y and 24.4% q-o-q), in line with expectations. Operating margin at 20.8% (up 840 bps y-o-y) was far ahead than expectations of 16.2%. The margin beat
was led by high gross margins as the company had liquidated all the high cost inventory by Q2. PAT of Rs. 110 crore was up 52% y-o-y.

we maintain our BUY rating on the stock.

Quarterly Update Q4FY24

PI Industries (PI)’s revenue grew 11% YoY in 4QFY24, led by a healthy growth
in the CSM business (up 9% YoY) and incremental revenue from the Pharma
business, which was absent in 4QFY23 (revenue mix of ~4% in 4QFY24).

UPLL reported a weak quarter as revenue declined 15% YoY, primarily due to
lower agrochemical prices (down 15% YoY) and volume decline of 2% YoY.
EBITDA margins contracted 450bp YoY largely due to higher rebates (~5%
price impact) and liquidation of high-cost inventory, partly offset by an
improved product mix and a lower cost of goods sold.