Shares of PI Industries advanced in trade as the management, in the quarterly earnings call, guided for a double-digit growth in the domestic markets which will be led by new launches.
The company also continues to maintain its 20% revenue growth guidance for FY24 along with sustainable margin of 23-24%, the management stated in the call.
PI Industries Q3 FY23 (Consolidated, YoY)
- Revenue up 18.9% at Rs 1,613.2 crore (Bloomberg estimate: Rs 1667.3 crore)
- Ebitda up 40% at Rs 415.1 crore (Bloomberg estimate: Rs 390.1 crore)
- Ebitda margin at 25.73% vs 21.86% (Bloomberg estimate: 23.4%)
- Net profit up 58 % at Rs 351.8 crore (Bloomberg estimate: Rs 291.5 crore)
- The company declared an interim dividend of Rs 4.5 per share.
Shares of PI Industries Ltd. rose 7.75% to Rs 3,364 apiece in trade on Thursday. It rose as much as 9.30% intraday, the most since Nov. 9, 2022.
Total traded volume stood at 11.5 times its 30-day average. The relative strength index was at 63.3.
Out of the 28 analysts tracking the stock, 21 maintain a ‘buy’ rating, six recommend a ‘hold’ and one suggests to ‘sell’ the stock.
The return potential as calculated by the consensus of analyst estimates, stand at an upside of 13.9% over the next 12 months.
Source: Exchange filing