Buy PI Industries, target price Rs 2250: Emkay Global

PI Industries Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 30831.96 Crore) operating in Pesticides/Agro Chemicals sector.

Shutterstock.com
Promoters held 46.8 per cent stake in the company as of June 30, 2020, while FIIs held 13.8 per cent, DIIs 22 per cent and public and others 17.5 per cent.
Emkay Global has given buy rating to PI Industries with a target price of Rs 2250. The share price moved down by 0.76 per cent from its previous close of Rs 2035.90. The stock’s last traded price is Rs 2020.35.

PI Industries Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 30831.96 Crore) operating in Pesticides/Agro Chemicals sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 1060.10 Crore, up 23.96 % from last quarter Sales of Rs 855.20 Crore and up 40.58 % from last year same quarter Sales of Rs 754.10 Crore Company reported net profit after tax of Rs 140.70 Crore in latest quarter.

PI-graph

Investment Rationale
The brokerage expects PI’s profit to increase at 31% CAGR over FY20-23E. PI’s current export order book of USD1.5bn translates into 3.6x FY21E export revenue, indicating robust visibility. Robust order book and acquisition of assets through QIP proceeds puts PI on accelerated growth path.

Key risks are: 1) Inability to find suitable acquisition, 2) Raw material price pressure, and 3)Low demand for products

Promoter/FII Holdings
Promoters held 46.8 per cent stake in the company as of June 30, 2020, while FIIs held 13.8 per cent, DIIs 22 per cent and public and others 17.5 per cent.
ADVERTISEMENT
READ MORE

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Text Size:AAA
Success
This article has been saved

*

+