PI Industries in limelight

PI Industries is currently among the top five gainers on the BSE, rising over 11.5% to hit an intraday high at Rs.2301.05. Its 52-week high stands at Rs.2544. The volume on the counter has jumped up 14 times.

The company posted a very good set of numbers for Q3Fy21 with net profit rising 61% (YoY) to Rs.195 crore on a 37% increase in revenue at Rs.1162 crore.

EBITDA rose 48% to Rs.276 crore while margins went up from 22% to 24%.

It also declared an interim dividend of Rs.3/share.

The company gave a robust outlook ahead. It expects business to be robust with strong growth expected to continue in Q4FY21 & FY22 in domestic brands with expected launch of products. It said that horticulture, rice and pulses crop are expected to drive the growth. It also warned that the farmer agitation may have some disruption on overall crop management in Northern part of India.