P I Industries Ltd
PI Industries Ltd is a leading player in the agro-chemicals space having strong presence in both Domestic and Export markets. It has state-of-art facilities in Gujarat having integrated process development teams with in-house engineering capabilities.[1]
- Market Cap ₹ 58,864 Cr.
- Current Price ₹ 3,880
- High / Low ₹ 4,011 / 2,935
- Stock P/E 37.0
- Book Value ₹ 526
- Dividend Yield 0.25 %
- ROCE 21.7 %
- ROE 18.5 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 27.7% CAGR over last 5 years
- Company's median sales growth is 18.5% of last 10 years
Cons
- Stock is trading at 7.24 times its book value
- Tax rate seems low
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Agro Chemicals Industry: Pesticides / Agrochemicals - Indian
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
879 | 1,151 | 1,596 | 1,940 | 2,096 | 2,277 | 2,277 | 2,841 | 3,366 | 4,577 | 5,300 | 6,492 | 7,490 | |
733 | 969 | 1,300 | 1,558 | 1,661 | 1,722 | 1,781 | 2,261 | 2,647 | 3,559 | 4,154 | 4,948 | 5,575 | |
Operating Profit | 146 | 183 | 295 | 382 | 435 | 555 | 496 | 580 | 720 | 1,018 | 1,146 | 1,544 | 1,916 |
OPM % | 17% | 16% | 19% | 20% | 21% | 24% | 22% | 20% | 21% | 22% | 22% | 24% | 26% |
36 | 8 | 11 | 35 | 34 | 36 | 60 | 58 | 50 | 129 | 105 | 166 | 209 | |
Interest | 21 | 24 | 14 | 12 | 12 | 9 | 7 | 7 | 19 | 34 | 16 | 39 | 22 |
Depreciation | 17 | 22 | 32 | 50 | 54 | 73 | 83 | 93 | 137 | 175 | 202 | 226 | 286 |
Profit before tax | 143 | 145 | 261 | 355 | 403 | 510 | 466 | 538 | 614 | 938 | 1,033 | 1,444 | 1,816 |
Tax % | 28% | 33% | 28% | 31% | 23% | 10% | 21% | 24% | 26% | 21% | 18% | 15% | |
104 | 97 | 188 | 246 | 312 | 459 | 368 | 410 | 457 | 738 | 844 | 1,230 | 1,593 | |
EPS in Rs | 8.27 | 7.18 | 13.81 | 18.00 | 22.72 | 33.39 | 26.66 | 29.72 | 33.06 | 48.66 | 55.62 | 81.04 | 104.97 |
Dividend Payout % | 12% | 14% | 14% | 14% | 14% | 12% | 15% | 13% | 12% | 10% | 11% | 12% |
Compounded Sales Growth | |
---|---|
10 Years: | 19% |
5 Years: | 23% |
3 Years: | 24% |
TTM: | 18% |
Compounded Profit Growth | |
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10 Years: | 29% |
5 Years: | 28% |
3 Years: | 39% |
TTM: | 38% |
Stock Price CAGR | |
---|---|
10 Years: | 30% |
5 Years: | 30% |
3 Years: | 19% |
1 Year: | 31% |
Return on Equity | |
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10 Years: | 20% |
5 Years: | 18% |
3 Years: | 17% |
Last Year: | 18% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
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Equity Capital | 13 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 15 | 15 | 15 | 15 |
Reserves | 313 | 518 | 681 | 883 | 1,157 | 1,613 | 1,911 | 2,272 | 2,605 | 5,327 | 6,105 | 7,183 | 7,967 |
247 | 217 | 122 | 115 | 151 | 120 | 83 | 49 | 519 | 373 | 316 | 46 | 181 | |
229 | 386 | 501 | 622 | 626 | 554 | 618 | 820 | 1,087 | 1,287 | 1,354 | 1,235 | 1,964 | |
Total Liabilities | 802 | 1,135 | 1,318 | 1,633 | 1,949 | 2,301 | 2,626 | 3,155 | 4,225 | 7,002 | 7,791 | 8,480 | 10,127 |
297 | 478 | 527 | 533 | 874 | 945 | 998 | 1,186 | 1,858 | 2,138 | 2,452 | 2,606 | 3,411 | |
CWIP | 81 | 61 | 42 | 133 | 71 | 77 | 90 | 183 | 271 | 288 | 114 | 132 | 237 |
Investments | 1 | 1 | 1 | 1 | 0 | 83 | 161 | 129 | 150 | 872 | 900 | 1,016 | 1,180 |
423 | 596 | 748 | 967 | 1,003 | 1,196 | 1,378 | 1,657 | 1,946 | 3,704 | 4,325 | 4,726 | 5,299 | |
Total Assets | 802 | 1,135 | 1,318 | 1,633 | 1,949 | 2,301 | 2,626 | 3,155 | 4,225 | 7,002 | 7,791 | 8,480 | 10,127 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
104 | 102 | 219 | 184 | 367 | 339 | 319 | 391 | 698 | 725 | 529 | 1,501 | |
-105 | -145 | -50 | -146 | -303 | -235 | -180 | -322 | -985 | -2,430 | -110 | -496 | |
2 | 45 | -145 | -53 | -48 | -53 | -106 | -125 | 350 | 1,690 | -177 | -483 | |
Net Cash Flow | 1 | 3 | 24 | -15 | 16 | 50 | 33 | -56 | 63 | -15 | 241 | 522 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
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Debtor Days | 72 | 83 | 59 | 72 | 69 | 68 | 84 | 85 | 70 | 56 | 60 | 43 |
Inventory Days | 142 | 131 | 126 | 124 | 124 | 136 | 141 | 126 | 158 | 149 | 178 | 144 |
Days Payable | 76 | 130 | 116 | 116 | 115 | 90 | 115 | 121 | 117 | 113 | 115 | 86 |
Cash Conversion Cycle | 137 | 84 | 70 | 80 | 78 | 113 | 110 | 90 | 111 | 93 | 122 | 101 |
Working Capital Days | 80 | 69 | 50 | 55 | 54 | 72 | 89 | 87 | 81 | 79 | 101 | 71 |
ROCE % | 26% | 26% | 36% | 41% | 36% | 34% | 25% | 25% | 23% | 22% | 17% | 22% |
Documents
Announcements
- Closure of Trading Window 20h
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Announcement under Regulation 30 (LODR)-Newspaper Publication
19 Mar - Copies of newspaper advertisement for Notice of Postal Ballot
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 18 Mar
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
12 Mar - Company''s representative would be attending meeting with Jefferies India.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
12 Mar - Company''s representative would be attending - Haitong Securities India.
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Concalls
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Feb 2024Transcript PPT REC
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Nov 2023TranscriptPPT
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Nov 2023Transcript PPT REC
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Aug 2023TranscriptPPT
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Aug 2023Transcript PPT
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Jun 2023TranscriptNotesPPT
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Oct 2016TranscriptPPT
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Revenue Breakup
Its revenues are divided under 2 main categories. It earns ~76% of its revenues from active ingredients and intermediaries and ~23% of revenues from sale of formulations.[1]