Buy PI Industries, target price Rs 2416: Angel Broking

PI Industries Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 29792.73 Crore) operating in Pesticides/Agro Chemicals sector.

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Market leader in fast growing custom manufacturing space catering to lading agrochemical companies globally
Angel Broking has given a buy rating to PI Industries with a target price of Rs 2416. The share price moved down by 0.72 per cent from its previous close of Rs 1962.65. The stock’s last traded price is Rs 1948.85.

PI Industries Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 29792.73 Crore) operating in Pesticides/Agro Chemicals sector.

PI Industries Ltd. key Products/Revenue Segments include Active Ingredients which contributed Rs 1920.50 Crore to Sales Value (67.60 % of Total Sales), Formulations which contributed Rs 903.00 Crore to Sales Value (31.78 % of Total Sales), Others which contributed Rs 17.40 Crore to Sales Value (0.61 % of Total Sales)for the year ending 31-Mar-2019.


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.

Investment Rationale
Market leader in fast growing custom manufacturing space catering to lading agrochemical companies globally.

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.
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