PI Industries logs 23% y-o-y growth in FY23 revenue; stock slips ~2%

19 May 2023 , 10:28 AM

PI Industries announced its results for the quarter and financial year ended March 31, 2023. The company has reported significant growth during the quarter and financial year.

PI Industries reported a revenue of Rs 6,492 crore, up by 23% y-o-y in FY23, as compared to Rs 5,299.50 crore during the previous year. For Q4FY23, the company registered 12% y-o-y growth in revenue at Rs 1,565.60 crore against Rs 1,395.20 crore in the previous corresponding period.

The company further highlighted that its net profit in FY23 improved by 46% yoy at Rs 1,229.50 crore on the back of EBITDA growth and lower ETR. The company reported a net profit of Rs 843.80 crore in FY22.

For Q4FY23, the company reported a net profit of Rs 280.60 crore, as compared to a net profit of Rs 204.40 crore in Q4FY22, clocking growth of 37% yoy.

Company’s EBITDA grew by 35% y-o-y at Rs 1,548.90 crore in FY23 as compared to Rs 1,146 crore in FY22. During the quarter under review, company’s EBITDA stood at Rs 344 crore, up by 13% y-o-y against Rs 305.60 crore in Q4FY22.

The company proposed a final dividend for FY22-23 of Rs 5.50 per share, aggregating to a total dividend for FY22-23 of Rs 10.00 per share.

At around 10.21 AM, PI Industries was trading 1.88% lower at Rs 3,195 per piece, as against the previous close of Rs 3,256.15 on NSE.

For feedback and suggestions, write to us at [e-mail]