P I Industries Q4FY16 standalone net profit rises 58% yoy to Rs.95.30 crore : Beats Estimates

India Infoline News Service | Mumbai | May 25, 2016 08:00 IST

The company’s standalone revenue stood at Rs. 584.41 crore, up 8.83% yoy and 14.37% qoq.

P I Industries Ltd, an agrochemicals firm, reported standalone net profit of Rs. 95.30 crore for the quarter ended March 31, 2016, registering growth of 57.99% yoy and 31.39% qoq. The company’s revenue stood at Rs. 584.41 crore, up 8.83% yoy and 14.37% qoq.

Its standalone core operating profit of Rs. 107.29 crore for the quarter, clocked growth of 12.62% yoy and 2.35% qoq. Operating profit margin for the current quarter at 18.36% expanded by 62 bps yoy but contracted by 216 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 313.35 crore, growing by 28.82% yoy. Its standalone revenue for the period stood at Rs. 2,096.29 crore, registering growth of 8.08% yoy.

P I Industries Ltd's core operating profit stood at Rs. 432.71 crore, recording growth of 16.96% yoy. Operating margin for the current period at 20.14% expanded by 107 bps yoy.

PI Industries delivers strong quarter; lower tax expenses, higher other operating income aids:

PI Industries reported a strong quarter, surpassing IIFL estimates both on topline and bottom line front by huge margins of 14% and 67% respectively. The company’s revenue stood at Rs. 584.41 crore, up 8.83% yoy and 14.37% qoq on account of higher other operating income. Its other operating income stood at Rs. 10.85 crore for the quarter under review as against loss of Rs. 2.20 crore in the corresponding quarter of the previous year and Rs. 4.71 crore for the preceding quarter.

The company reported standalone net profit of Rs. 95.30 crore for the quarter, up 57.99% yoy and 31.39% qoq on lower tax expenses which just stood at Rs. 1.36 crore , down by 94.30% qoq and 94.61% qoq.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Standalone Revenue 584.41 514.63 13.56
Standalone Net Profit 95.30 57.14 66.78

Bloomberg estimated the company’s standalone net profit at Rs. 73.53 crore.

Stock Commentary:

P I Industries Ltd is currently trading at Rs. 634.5, up by 38.1 points or 6.39% from its previous closing of Rs. 596.4 on the BSE.

The scrip opened at Rs. 630 and has touched a high and low of Rs. 637 and Rs. 611.95 respectively. So far 235645(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 8178.27 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 756.2 on 25-May-2015 and a 52 week low of Rs. 495.35 on 26-Feb-2016. Last one week high and low of the scrip stood at Rs. 640.45 and Rs. 592 respectively.

The promoters holding in the company stood at 51.72 % while Institutions and Non-Institutions held 34.16 % and 13.96 % respectively.

The stock is currently trading below its 200 DMA.



***Note: This is a NSE Chart

 

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