Buy PI Industries, target price Rs 2611: Motilal Oswal
PI Industries Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 32742.03 Crore) operating in Pesticides/Agro Chemicals sector.
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Promoters held 46.8 per cent stake in the company as of Sept 30, 2020, while FIIs held 14.8 per cent, DIIs 25.8 per cent and public and others 12.6 per cent.
Motilal Oswal has given a buy rating to PI Industries with a target price of Rs 2611. The share price moved up by 1.66 per cent from its previous close of Rs 2164.05. The stock’s last traded price is Rs 2200.
PI Industries Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 32742.03 Crore) operating in Pesticides/Agro Chemicals sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1157.70 Crore, up 9.21 % from last quarter Sales of Rs 1060.10 Crore and up 27.58 % from last year same quarter Sales of Rs 907.40 Crore Company reported net profit after tax of Rs 217.70 Crore in latest quarter.
Investment Rationale The brokerage values the stock at 35x Sep’22E EPS to arrive at TP of INR2,611, implying 21%upside. Promoter/FII Holdings Promoters held 46.8 per cent stake in the company as of Sept 30, 2020, while FIIs held 14.8 per cent, DIIs 25.8 per cent and public and others 12.6 per cent.
