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P I Industries Ltd share Price

Company details

6M Return -0.49%
1Y Return 27.43%
Mkt Cap.(Cr) 52,823.66
Volume 292,937
Div Yield 0.29%
OI Chg %
Volume 292,937

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CSM continues to drive growth; domestic flat…

About The Stock

    : Incorporated in 1947, PI Industries focuses on complex chemistry solutions in agri and pharma sciences.

    • The company maintains a strong research presence through its R&D facility in Udaipur, where it has a dedicated team of over 300 scientists
    • The revenues of the company can be subdivided into custom synthesis manufacturing (CSM) and domestic formulation business with the former contributing ~73% to overall revenue in FY21 and the rest coming from the domestic formulations business

Q4FY22 Results

    Numbers are largely in line with our estimates across all parameters.

    • Reported revenue growth of 16.5% YoY to ₹ 1395.2 crore, led by domestic formulation segment (up 47% YoY). The revenue from CSM was up by 11% YoY to ₹ 1114.2 crore.
    • Gross margins up 200 bps YoY to ~44.1% while EBITDA margin expanded 290 bps YoY to 21.9%, due to absorption of fixed overheads
    • EBITDA was up 34% YoY to ₹ 305 crore
    • PAT increased 14% YoY to ₹ 204.4 crore owing to higher taxes and lower other income.

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PI Industries Ltd.

Q4FY23 Quarterly & FY23 Annual Result Announced for PI Industries Ltd.

Agrochemicals company PI Industries announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Overall 12% YoY revenue growth
    • 15% growth in exports led by price, currency, and favourable product mix of ~17% offset by volume decrease of ~2%
    • Domestic growth at 1% YoY is driven by a volume increase of ~2% offset by a price decrease of ~1%
    • Gross margin improved on account of a favourable product mix
    • 37% increase in PAT attributable to EBITDA growth despite higher depreciation
    • Cash generated from operations before tax during Q4FY23 is Rs 5,729 million (Q4FY22 Rs 2,640 million)
    • Trade working capital was reduced by Rs 2,237 million during Q4FY23
    • The board proposed a final dividend for FY23 of Rs 5.50 per share, aggregating to a total dividend for FY23 of Rs 10.00 per share
  • FY23:
    • Total capex for FY23 is Rs 3,385 million (FY22 Rs 3,204 million)
      • Actual capex spend is in line with the plan
      • A key focus of driving higher capacity utilisation by improving throughput
    • Operating profit before working capital changes is Rs 15,522 million (FY22 Rs 12,314 million)
    • Inventory levels reduced in terms of Days of Sales to approx. 79 days to Rs 13,976 million
    • Improved working capital cycle to 79 days as of 31-Mar-23 vs. 103 days as on 31-Mar-22
    • Cash flow from operating activities is Rs 15,014 million (FY22 Rs 5,287 million)
    • The surplus cash net of debt is Rs 32,343 million. QIP funds remained invested into deposits and debt mutual funds with SLR philosophy while final deployment aligned with PI’s longer-term growth strategy is underway.
    • Capitalised PI Health Sciences (PIHS) for planned acquisitions and capacity build-up



Result PDF

View Other Company Results


Investment recommendation

CSM continues to drive growth; domestic flat…
Call Date
20 Feb 2023
Entry Price 3,114.00
Target Price 3,615.00
12-18 Month


Operating Profit
Profit after Tax
Reserves and Surplus
Operating Profit
Profit after Tax

P I Industries Ltd Stocks COMPARISION


Equity Capital: 6,120.40 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 3,296.96 39,477.59
LAST 3M 15,440.75 59,034.02
LAST 6M 64,524.17 39,054.82
LAST 12M 119,831.70 83,752.26

P I Industries Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
  • P I Industries Limited is a holding company for various group entities involved in the manufacturing and marketing of several types of agricultural chemicals. The company primarily has two product categories: agricultural chemicals (pesticides, fungicides, and insecticides) and specialty products. The company has its headquarters in Udaipur, Rajasthan. The company has been operating since 1946.

    On 5 January 2023, the market capitalisation of P I Industries Limited was Rs 50,412.10 crore, and it reported consolidated sales of Rs 1,696 crore at the end of September 2022.

    The company is listed on the Bombay Stock Exchange with the code 523642 and the National Stock Exchange with the code PIIND. On 30 September 2022, the company’s shareholding pattern indicated a promoter stake of 46.09%, a 0% stake of foreign institutional investors, and a public stake of 27.9%. The company’s shareholding pattern has remained largely the same over the past year, with the promoters divesting some shares while domestic mutual funds increase their holdings. 

    The company’s board of directors consists of Salil Singhal, Narayan K Seshadri, Mayank Singhal, Rajnish Sarna, Arvind Singhal, Lisa J Brown, Pravin K Laheri, Ramni Nirula, and T S Balganesh. Price Waterhouse Chartered Accountants LLP are the company’s auditors. On 30 September 2022, the company had a total of 12 crore shares outstanding.

    On 5 January 2023, P I Industries’ share prices were Rs 3,322.75 and Rs 3,322.85 on NSE and BSE, respectively. The share price touched a 52-week high of Rs 3,698.45 and a 52-week low of Rs 2,333.55. Its three-month return to investors was 9.2%, while its one-year return was 10.8%.   

    As of November 2022, Axis Long Term Equity Direct-G had invested Rs 1099 crore in the company, while Kotak Emerging Equity Direct-G and Axis Midcap Direct-G had invested Rs 733.5 and Rs 589.2 crore, respectively.

    In the second quarter of FY23, the company reported that it had achieved a 31% revenue growth compared to the same period last year. A large portion of the growth came from exports which increased by 29%. The company’s domestic operations also grew by 36% during the same period. 

    Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code: 07730), BSE Ltd (Member Code: 103) and Member of Multi Commodity Exchange of India Ltd.(Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Ms. Mamta Shetty, Contact number: 022-40701022, E-mail address: complianceofficer@icicisecurities.com. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Such representations are not indicative of future results. The securities quoted are exemplary and are not recommendatory. Investors should consult their financial advisers if in doubt about whether the product is suitable for them. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose.

Registered Address

Post Box No 20, Udaisagar Road, Udaipur, Rajasthan, 313001

Tel : 91-294-2492451-55
Email : corporate::piind.com
Website : http://www.piindustries.com

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AGM Date (Month) : Sep
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 523642
Book Closure Date (Month) : Sep
BSE Group : A
ISIN : INE603J01030

FAQ’s on P I Industries Ltd Shares

You can buy P I Industries Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy P I Industries Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 02, 2023 03:52 PM the closing price of P I Industries Ltd was ₹ 3,481.70.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Jun 02, 2023 03:52 PM, the market cap of P I Industries Ltd stood at ₹ 52,823.66.

The latest PE ratio of P I Industries Ltd as of Jun 02, 2023 03:52 PM is 42.97

The latest PB ratio of P I Industries Ltd as of Jun 02, 2023 03:52 PM is 0.14

The 52-week high of P I Industries Ltd is ₹ 3,698.45 while the 52-week low is ₹ 2,442.10

According to analyst recommendations, P I Industries Ltd has a “Buy” rating for the long term.

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