PI Ind rallies after Q3 PAT spurts 61% YoY to Rs 195 cr

PI Industries soared 9.10% to Rs 2,251.80 after the company's consolidated net profit surged 61.4% to Rs 195.40 crore on 36.7% rise in net sales to Rs 1,162.10 crore in Q3 December 2020 over Q3 December 2019.

Consolidated profit before tax (PBT) soared 55.2% to Rs 263.60 crore in Q3 December 2020 as against Rs 169.80 crore in Q3 December 2019. Current tax expense for the quarter jumped 45.8% to Rs 66.20 crore as against Rs 45.20 crore in Q3 December 2019. The Q3 result was declared after trading hours yesterday, 2 February 2021.

Consolidated EBITDA spurted 48% to Rs 187 crore in Q3 December 2020 over Q3 December 2019. EBITDA margin stood at 24% in Q3 FY21 as against 22% in Q3 FY20.

The Q3 exports jumped 40% Y-o-Y (year-on-year) with pro-active raw material planning along with efficient capacity utilisation. All commercial molecules have maintained strong demand focus in line with order book. Domestic revenues surged 26% Y-o-Y, with additional contribution from Isagro and good traction from PI brands. Strong control on overhead costs accompanied with healthy collections. Net profit increase in line with higher revenue, depreciation inline with capacities added increased to Rs 44 crore from Rs 32 crore. The board has declared an interim dividend at the rate of Rs 3 per share.

PI Industries manufactures agricultural and fine chemicals, and polymers. The company produces fine chemicals, crop protection, plant nutrients, and seeds, and engineering plastics for use in the automobile, electrical, and home appliances industries.

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