Centrum Broking: PI Industries Delivers A Beat On All Fronts In Q2
A technician conducts a test on a sample inside the laboratory (Photographer: Sanjit Das/Bloomberg)

Centrum Broking: PI Industries Delivers A Beat On All Fronts In Q2

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Centrum Broking Report

PI Industries Ltd.’s consolidated revenue at Rs 11.6 billion, (up 28% YoY), ahead of our estimate Rs 9.6 billion helped by strong domestic revenue of Rs 3.6 billion (up 33% YoY, our estimate Rs 2.9 billion) and very strong export revenue of Rs 8 billion (up 25% YoY).

Numbers were supported by Isagro revenues which are growing at high double digits consistently.

Resultant of the beat on revenue gross profit at Rs 5.1 billion (up 32% YoY) implies gross margins of 44.1%, (up 170 basis points YoY).

Click on the attachment to read the full report:

Centrum PI Industries - Q2FY21 Result Update.pdf

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