PI INDUSTRIES

PI Industries, which is into agri-science business posted a whopping 78 (YoY) jump in net profit at Rs.101 crore on a 20 rise in revenue at Rs.572 crore. This was on the back of improved demand in exports with advancement of orders from global customers. Q2 EBITDA stood at Rs. 128 crore, higher by 53% YoY benefiting from a favourable product mix and better operating leverage.

The company has stated that growth in second half of FY 17 is expected to be moderate considering current outlook of the global agri-chem industry and the advancement in supplies made to its global customers in H1FY17. Rabi season appears favorable with the level of water in the reservoirs, subject to performance of monsoon in certain geographies and the level of pest infestation.

The company ended H1Fy17 with a net profit of Rs.228 crore, which is 73% of FY16 net profit of Rs.313 crore. First half is always more robust than second though we could some better show in Q3 due to ensuing Rabi season.