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PI Industries Q1 Review - Acquisition Plans Provide Growth Visibility: Dolat Capital

PI Industries Q1 Review - Acquisition Plans Provide Growth Visibility: Dolat Capital

A laboratory technician looks at a solution in a glass flask. (Photographer: Andrey Rudakov/Bloomberg)
A laboratory technician looks at a solution in a glass flask. (Photographer: Andrey Rudakov/Bloomberg)

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.

Dolat Capital Report

PI Industries Ltd. reported Q1 FY22 performance below estimates owing to disruption in the domestic business caused by the pandemic and erratic monsoon.

Sales grew by 12.6% YoY to Rs 11.9 billion (our estimate: Rs 14.4 billion).

Ebitda growth was even lower at 8.6% YoY to Rs 2.49 billion (our estimate: Rs 3.15 billion) with Ebitda margins at 20.8%, down by 77 basis points YoY owing to higher other expenses and employee costs (up 31.8/20.1% YoY).

PI Industries' profit after tax growth stood at 28.7% YoY to Rs 1.87 billion owing to a lower tax rate of 18.0% (against 24.0% in Q1 FY21).

Click on the attachment to read the full report:

Dolat Capital PI Industries Q1FY22 Result Update.pdf

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