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MUMBAI :
Shares of PI Industries rose as a lot as 7.34% to an all-time high of ₹1966 on Wednesday after the corporate reported 43.2% leap in its consolidated internet revenue to ₹145.50 crore for the quarter ended 30 June.
The firm had reported a revenue of ₹101.60 crore throughout the identical quarter of earlier fiscal.
At 02:35 pm, shares of PI Industries have been buying and selling at ₹1902.65 apiece on the BSE, up almost 4% from its earlier shut, whereas the benchmark Sensex was flat at 37,743.02 factors.
Net Sales rose 40.60% to ₹1,060.10 crore in Q1 June 2020 from ₹754.10 crore in Q1 June 2019. Profit earlier than tax (PBT) jumped 43% to ₹189.90 crore in Q1FY21 versus ₹132.80 crore in Q1FY20.
EBITDA surged 55% to ₹236 crore in within the interval beneath assessment from ₹153 crore in similar quarter of the previous fiscal. EBITDA margin improved to 22% in Q1FY21 as in comparison with 20% in Q1FY20.
Analysts at Angel Broking Ltd in a end result assessment mentioned “PI industries reported a good set of numbers and the management highlighted that both domestic and export supplies have picked up pace and capacity utilization building back to pre-covid levels. With the export order book of $ 1.5 billion provides strong revenue visibility for the exports business it remains one of our top picks in the chemical space.”
The firm raised ₹2,000 crore in July 2020 by Qualified Institutional Placement (QIP) of fairness shares. Increase in working money stream assist to proceed strategic initiatives. Net working capital to gross sales improved within the quarter regardless of covid-19 disruption and resultant liquidity challenges within the markets.
PI Industries manufactures agricultural and fantastic chemical substances, and polymers. The firm produces fantastic chemical substances, crop safety, plant vitamins, and seeds, and engineering plastics to be used within the vehicle, electrical, and residential home equipment industries.
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