PI INDUSTRIES
PI Industries, an agri input and custom synthesis & manufacturing company posted excellent numbers for Q1FY17. Beginning with a good 15% (YoY) jump in net sales at Rs.676 crore, the company’s ended the quarter with a 48% rise in net profit at Rs.127 crore. EBITDA came in at Rs.165 crore, up 23% with margins at 24.2% v/s 22.63%. Total costs were kept stead at 78% of the total income. A 28% lower tax outgo also helped and this was thanks to the tax benefits accruing from the Jambusar SEZ, which commenced commercial production from Jan’16. Exports showed a good 20% increase.
The company hopes to deliver a good performance ahead. Q2, again being an agri company, will be good as seasonally Q1 and Q2 are usually robust. It expects the launch of some of its new products, improvement in exports, better operational efficiencies and consistent good order book to help sustain a growth during the fiscal.
The equity capital stands at Rs.13.71 crore and EPS for the quarter is at Rs.9.25 (FV of Re.1/share). Reserve is healthy at Rs.1142 crore. As at 30th June 2016, promoter stake is at 51.72%.