PI Ind Q4 PAT rises 62% YoY to Rs 180 cr

On a consolidated basis, PI Industries reported 62.4% jump in net profit to Rs 179.80 crore in Q4 FY21 as against Rs 110.70 crore in Q4 FY20.

Net sales during the quarter increased 40% year-on-year (YoY) to Rs 1197.10 crore. The revenue growth was driven by approximately 47% growth in exports contributed by strong volume growth in key products and approximately 11% growth in domestic business, which was in line with the business plan. Newly acquired Isagro registered 51% YoY revenue growth.

EBITDA in the fourth quarter improved 22% to Rs 227 crore from Rs 187 crore reported in the same period last year.

EBITDA margin, however, declined by 290 bps to 19% as on 31 March 2021 from 22% as on 31 March 2020, mainly on account of reduced gross margin despite operating leverage benefit.

Profit before tax in Q4 FY21 stood at Rs 222.30 crore, up 56.7% from Rs 141.90 crore in Q4 FY20.

The chemicals maker's consolidated net profit increased by 61.7% to Rs 738.30 crore on 36% rise in net sales to Rs 4577 crore in the year ended 31 March 2021 over the year ended 31 March 2020.

The company's board has recommended a final dividend of Rs 2 per equity share for the financial year ended March 2021.

PI Industries manufactures agricultural and fine chemicals, and polymers.

The scrip tumbled 5.41% to currently trade at Rs 2592.65 on the BSE.

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