PI Inds ready to welcome monsoon!

PI Industries is an agri input and custom synthesis & manufacturing company in India. The company is currently the top gainer on the BSE, following its interview on TV. Volumes have surged almost 3 times and the stock rose 13% to Rs.691.50. It has come off that initial reaction and is now some 9% up.

The CEO of the company sounded very positive about the upcoming good monsoon and the benefits his company could accrue. He said that PI Inds will benefit from a good monsoon and expects to grow by a healthy 10-15%. He added that the news of good monsoon is in itself a good thing for the company as it boosts sentiments and farmers rush to buy its agri products.

The company had ended Q3FY16 with a 16% (YoY) jump in net profit at Rs.72 crore mainly on the back of lower tax outgo and a marginal jump in topline. Its total income for the quarter was up by 1% at Rs.511 crore and tax outgo was down 17%.