Buy PI Industries, target price Rs 3000: IIFL

IIFL has buy call on PI Industries with a target price of Rs 3000. The current market price of PI Industries Ltd. is Rs 2930.05. Time period given by analyst is Intra Day when PI Industries Ltd. price can reach defined target.

PI Industries Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 44451.89 Crore) operating in Pesticides/Agro Chemicals sector.

PI Industries Ltd. key Products/Revenue Segments include Agri inputs, Export Incentives, Sale of services and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 1415.20 Crore, up 2.38 % from last quarter Total Income of Rs 1382.30 Crore and up 14.01 % from last year same quarter Total Income of Rs 1241.30 Crore. Company reported net profit after tax of Rs 203.80 Crore in latest quarter.

Investment Rationale
The stock has given a symmetrical triangle breakout on the daily chart.

Promoter/FII Holdings
Promoters held 46.74 per cent stake in the company as of 31-Mar-2022, while FIIs owned 23.1 per cent, DIIs 18.66 per cent.