|
P I Industries consolidated net sales
increased 17.62% to Rs 1897.5 crore in Q3FY24 compared to Q3FY24. Sales of Chemicals segment has gone up 9.73%
to Rs 1,770.20 crore (accounting for 93.29% of total sales).
Profit before interest, tax and other
unallocable items (PBIT) has jumped 31.38% to Rs 525.80 crore. PBIT of Chemicals segment rose 34.38% to Rs
544.10 crore (accounting for 103.48% of total PBIT). PBIT of Pharma segment fell 289.36% to Rs
-18.30 crore (accounting for -3.48% of total PBIT).
PBIT margin of Chemicals segment rose from
25.10% to 30.74%. Overall PBIT margin
rose from 24.81% to 27.71%.
Operating profit margin has jumped from
25.73% to 29.18%, leading to 33.37% rise in operating profit to Rs 553.60
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 48.33% to 42.42%. Employee cost increased from 8.65% to
10.10%. Other expenses rose from 13.78%
to 15.07%.
Other income rose 11.75% to Rs 56.1 crore. PBIDT rose 31.03% to Rs 609.7 crore. Provision for interest fell 21.35% to Rs 7
crore.
PBDT rose 32.06% to Rs 602.7 crore. Provision for depreciation rose 38.10% to Rs
78.3 crore.
Profit before tax grew 31.20% to Rs 524.40
crore. Share of profit/loss was 180%
higher at Rs 1.4 crore. Provision for
tax was expense of Rs 77.2 crore, compared to Rs 48.4 crore. Effective tax rate was 14.68% compared to
12.09%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 27.52% to Rs 448.60 crore.
Promoters’ stake was 46.09% as of 31 December
2023 ,compared to 46.09% as of 31 December 2022 .
For
year-to-date (YTD) results analysis
Net sales (including other operating income)
of P I Industries has increased 20.27% to Rs 5924.8 crore.
Operating profit margin has jumped from
24.34% to 26.55%, leading to 31.14% rise in operating profit to Rs 1,572.80
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 51.95% to 46.69%. Purchase of finished goods cost rose from
3.08% to 3.85%. Employee cost increased
from 7.88% to 8.95%. Other expenses
rose from 12.99% to 13.60%.
Other income rose 36.89% to Rs 149.9
crore. PBIDT rose 31.62% to Rs 1722.7
crore. Provision for interest fell
43.49% to Rs 19.1 crore.
PBDT rose 33.62% to Rs 1703.6 crore. Provision for depreciation rose 35.33% to Rs
228.3 crore.
Profit before tax grew 33.35% to Rs 1,475.30
crore. Share of profit/loss was 44.64%
higher at Rs 8.1 crore. Provision for
tax was expense of Rs 171.4 crore, compared to Rs 162.9 crore. Effective tax rate was 11.55% compared to
14.65%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 38.25% to Rs 1,312.00 crore.
Promoters’ stake was 46.09% as of 31 December
2023 ,compared to 46.09% as of 31 December 2022 .
The scrip is
currently trading at Rs 3487
|
P I Industries : Consolidated
Results
|
|
Particulars
|
2312
(03)
|
2212
(03)
|
Var.(%)
|
2312
(09)
|
2212
(09)
|
Var.(%)
|
2303
(12)
|
2203
(12)
|
Var.(%)
|
|
Net
Sales
|
1,897.50
|
1,613.20
|
18
|
5,924.80
|
4,926.40
|
20
|
6,492.00
|
5,299.50
|
23
|
|
OPM
(%)
|
29.18
|
25.73
|
|
26.55
|
24.34
|
|
23.75
|
21.56
|
|
|
OP
|
553.6
|
415.1
|
33
|
1,572.80
|
1,199.30
|
31
|
1,542.10
|
1,142.40
|
35
|
|
Other
Inc.
|
56.1
|
50.2
|
12
|
149.9
|
109.5
|
37
|
159
|
101.4
|
57
|
|
PBIDT
|
609.7
|
465.3
|
31
|
1,722.70
|
1,308.80
|
32
|
1,701.10
|
1,243.80
|
37
|
|
Interest
|
7
|
8.9
|
-21
|
19.1
|
33.8
|
-43
|
37.1
|
12.8
|
190
|
|
PBDT
|
602.7
|
456.4
|
32
|
1,703.60
|
1,275.00
|
34
|
1,664.00
|
1,231.00
|
35
|
|
Depreciation
|
78.3
|
56.7
|
38
|
228.3
|
168.7
|
35
|
226.5
|
201.8
|
12
|
|
PBT
|
524.4
|
399.7
|
31
|
1475.3
|
1106.3
|
33
|
1437.5
|
1029.2
|
40
|
|
Share
of Profit/(Loss) from Associates
|
1.4
|
0.5
|
180
|
8.1
|
5.6
|
45
|
6.8
|
3.6
|
89
|
|
PBT
before EO
|
525.8
|
400.2
|
31
|
1483.4
|
1111.9
|
33
|
1444.3
|
1032.8
|
40
|
|
EO
Income
|
0
|
0
|
-
|
0
|
0
|
-
|
0
|
0
|
-
|
|
PBT
after EO
|
525.8
|
400.2
|
31
|
1483.4
|
1111.9
|
33
|
1444.3
|
1032.8
|
40
|
|
Taxation
|
77.2
|
48.4
|
60
|
171.4
|
162.9
|
5
|
214.8
|
189
|
14
|
|
PAT
|
448.6
|
351.8
|
28
|
1312
|
949
|
38
|
1229.5
|
843.8
|
46
|
|
Minority
Interest (MI)
|
0
|
0
|
-
|
0
|
0
|
-
|
0
|
0
|
-
|
|
Net
profit
|
448.6
|
351.8
|
28
|
1312
|
949
|
38
|
1229.5
|
843.8
|
46
|
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
81.04
|
55.62
|
|
|
Notes
|
|
*
EPS is on current equity of Rs 15.17 crore, Face value of Rs 1, Excluding
extraordinary items.
|
|
#
EPS is not annualised
|
|
bps
: Basis points
|
|
EO
: Extraordinary items
|
|
Figures
in Rs crore
|
|
Source:
Capitaline Corporate Database
|
|
P I Industries : Consolidated
Segment Results
|
|
|
%
of (Total)
|
2312
(03)
|
2212
(03)
|
Var.(%)
|
%
of (Total)
|
2312
(09)
|
2212
(09)
|
Var.(%)
|
|
Sales
|
|
Chemicals
|
99
|
1,770.20
|
1,613.20
|
10
|
100
|
5,681.40
|
4,926.40
|
15
|
|
Pharma
|
1
|
12.73
|
0
|
-
|
0
|
24.34
|
|
|
|
Total
Reported Sales
|
100
|
1,782.93
|
1,613.20
|
11
|
100
|
5,705.74
|
4,926.40
|
16
|
|
PBT
|
|
Chemicals
|
103
|
544.1
|
404.9
|
34
|
105
|
1554.8
|
1119.2
|
39
|
|
Pharma
|
-3
|
-18.3
|
-4.7
|
289
|
-5
|
-71.4
|
-7.3
|
878
|
|
PBT
|
100
|
525.8
|
400.2
|
31
|
100
|
1483.4
|
1111.9
|
33
|
|