PI Industries surges 8%, hits all-time high on strong Q2 revenue growth

Analysts believe overall growth was mainly led by volume scale up and price hike while favourable product mix and currencies would also have contributed to growth.

Shares of PI Industries hit an all-time high of Rs 3,554.25 as they surged 8 per cent on the BSE in Wednesday’s intra-day trade after the company reported a strong 31 per cent year-on-year (YoY) revenue growth at Rs 17,700 crore for the quarter ended September 2022 (Q2FY23). Higher revenue growth was led by stellar performance from CSM (exports) segment. Profit after tax jumped 46 per cent YoY at Rs 334.80 crore.

At 09:40 am, PI Industries traded 7 per cent higher at Rs 3,536, as compared to 0.16 per cent rise in the S&P BSE Sensex. The stock