Investors favour PI Industries on strong order book and new launches

Firm added to its growth pipeline by acquiring Isagro last week

The PI Industries stock is up about 15 per cent in September, on expectations of strong earnings growth over the next two years, led by an improvement in the custom synthesis and manufacturing (CSM) business.

The management, according to analysts at IDFC Securities, is positive on the growth outlook for the CSM as well as domestic business, led by strong order book for the former and differentiated product launches in the latter.

In addition to organic growth, the company is also looking at acquisitions to boost growth. Last week, PI acquired the Asian business of Italian agrochemical company Isagro for