PI Industries jumps up over 9%

PI Industries rose 9% intra day to Rs.648.55 with volumes jumping up over 4.5 times.

The company, an agri input and custom synthesis & manufacturing company posted excellent numbers for Q4FY16.  Its net profit for the quarter rose 58% (YoY) at Rs.95 crore on a 9% rise in total income at Rs.585 crore. A major reduction in tax expense – down from Rs.25 crore to less than Rs.1.5 core is what boosted the bottomline to this extent. EBITDA for the quarter showed a 13% jump at Rs.107 crore and margins moved up from 17.7% to 18.3%.

As promised by the management, the custom synthesis and manufacturing (CSM) is showing robust offtake; its order book currently stands at US$850 million and the company expects 20% growth going ahead. Its Jambusar SEZ commenced commercial production from January 2016 and we can see addition coming from this unit in current fiscal.

The company ended Fy16 with a 28% jump in net profit at Rs.315 crore. Equity is at Rs.13.71 crore and EPS is at Rs.23 (FV of Re.1/share). Reserves is at Rs.1158 crore. In current fiscal, the company expects revenue at around Rs.2450 to Rs.2500 crore.