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Informist, Monday, Jul 29, 2024

MUMBAI – PI Industries Ltd's net profit for Apr-Jun is seen rising 4.5% on year to 4.13 bln rupees, according to an average of estimates by eight brokerages. The estimates for the bottomline ranged from 3.97 bln rupees to 4.35 bln rupees. The net sales of PI Industries are seen jumping 15.6% on year to 21.15 bln rupees, the average of eight estimates showed. The topline projections ranged from 20.35 bln rupees and 22.09 bln rupees. Sequentially, the chemical company's net profit is seen rising 7.4% and net sales 30%. 

 

Earnings before interest, taxes, depreciation, and amortisation are seen at 5.56 bln rupees in Apr-Jun, according to the average of estimates by six brokerages. The EBITDA projections ranged from 5.11 bln rupees and 5.92 bln rupees. The company will detail Apr-Jun earnings on Aug 6. 

 

PI Industries will likely report a modest 6% on-year increase in revenues, owing to a slowdown in custom synthesis manufacturing business growth over the last year's difficult base, Kotak Institutional Equities said. "For the domestic business, we build in 15% on year growth owing to expectations of a good monsoon. We estimate 18% on year growth in EBITDA as margin expand due to a shift in revenue mix in favour of pyroxasulfone. However, a higher tax rate may weigh on growth in net profit," Kotak Institutional Equities said.

 

The custom synthesis and manufacturing business is likely to grow 13% on year, Motilal Oswal Securities said, adding that update on the Pharma Intermediate segment will be a key monitorable for the company. Nuvama Institutional Equities expects the company to continue to post a healthy volume growth driven by its exports business that itself is driven by strong demand in its key products. Domestic agrochemical is also expected to witness growth driven by volumes and pricing. "We expect overall EBITDA margins to sustain at ~23%. Though at present single product dependency poses key concerns in the company," it said in its report. 

 

At 0943 IST, shares of PI Industries ended 2% higher at 4,295 rupees on the National Stock Exchange. 

 

Following are the Apr-Jun earnings estimates for PI Industries, in million rupees, from eight brokerage houses:

 

 

Brokerage firm	Net sales	Net profit	EBITDA
Anand Rathi Share and Stock Brokers Ltd	21,239	4,341
Axis Securities Ltd	20,730	4,350	5,430
Emkay Global Financial Services Ltd	21,400	4,200	5,800
Kotak Institutional Equities	20,345	3,981	5,509
Motilal Oswal Financial Services Ltd	21,970	3,989	5,602
Nirmal Bang Equities Pvt Ltd	22,094	4,142	5,920
Nuvama Wealth Management Ltd	21,116	4,065	5,112
Sharekhan Ltd	20,280	3,970
Average	21,146.75	4,129.75	5,562.17

 

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Pradeep Suresh V.

Edited by Akul Nishant Akhoury

 

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