PI Industries Q4 PAT declines 11.9% to Rs 111 cr

PI Industries' consolidated net profit dropped 11.9% to Rs 110.70 crore on 6.3% rise in net sales to Rs 855.20 crore in Q4 March 2020 over Q4 March 2019.

Consolidated profit before tax skid 16.6% to Rs 141.90 crore in Q4 March 2020 as against Rs 170.10 crore in Q4 March 2019. Current tax expenses tanked 63.3% to Rs 12.10 crore in Q4 March 2020 as compared to Rs 33 crore in Q4 March 2019. The Q4 earnings was released after trading hours yesterday, 4 June 2020.

EBITDA grew 7% to Rs 187 crore in Q4 March 2020 from Rs 174 crore in Q4 March 2019. EBITDA margin was flat at 22% during the quarter despite upsurge in raw material prices on Chinese imports amid initial COVID-19 impact.

Covid-19 disrupted operations and movement of goods and resulted in partial deferment of revenue to Q1FY21. Domestic revenue was subdued due to product positioning plans getting impacted by this disruption. Q4 exports increased about 12% YoY despite unavailability of one multi product and disrupted global supply chain by proactive raw material inventory management and capacity planning.

The board has recommended a final dividend of Re 1 per equity share for the financial year ended 31 March 2020.

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.

Shares of PI Industries rose 0.32% to Rs 1,562.40 on BSE. The scrip hovered in the range of Rs 1,555 to Rs 1,593.35 so far.

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