PI Industries Q4 Review - A Record Year, More To Come: Centrum Broking
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Centrum Broking Report
PI Industries Ltd. closed out FY21 with a strong Q4, with recurring revenue/Ebitda/profit after tax of Rs 11.9/2.27/1.79 billion (up 40/22/62% YoY), the best YoY growth reported in a financial year in the last seven years.
This has been driven by a seven year high achieved in revenue growth and the second best Ebitda margin in the last decade.
Numbers were supported by Isagro (Asia) Agrochemcials Pvt. Ltd. revenues which are growing at high double digits consistently.
The gross margins of just 42.1% (down 470/480 basis points YoY/QoQ) were however a negative surprise and offset somewhat the revenue uptick.
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