PI Industries hits a new high
By
Research Desk
about 8 years ago
PI Industries, an agri input and custom synthesis & manufacturing company posted excellent numbers for Q1FY17. Beginning with a good 15% (YoY) jump in net sales at Rs.676 crore, the company’s ended the quarter with a 48% rise in net profit at Rs.127 crore. EBITDA came in at Rs.165 crore, up 23% with margins at 24.2% v/s 22.63%.
Total costs were kept steady at 78% of the total income. A 28% lower tax outgo also helped and this was thanks to the tax benefits accruing from the Jambusar SEZ, which commenced commercial production from Jan’16. Exports showed a good 20% increase.
On the back of this robust performance, the stock price today hit a new 52-week high at Rs.786.80 and remains amongst the top gainers on the BSE.