PI INDUSTRIES Announces Quarterly Results (1QFY21); Net Profit Up 30.9%

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PI INDUSTRIES Announces Quarterly Results (1QFY21); Net Profit Up 30.9%
Thu, 20 Aug

PI INDUSTRIES has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

PI INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m7,5417,9559,68421.7%28.4%
Other incomeRs m1235340-24.5%-67.5%
TurnoverRs m7,6648,0089,72421.4%26.9%
ExpensesRs m6,0276,2677,50719.8%24.6%
Gross profitRs m1,5141,6882,17729.0%43.8%
DepreciationRs m294405397-2.0%35.0%
InterestRs m26879610.3%269.2%
Profit before taxRs m1,3171,2491,72438.0%30.9%
TaxRs m30926640552.3%31.1%
Profit after taxRs m1,0089831,31934.2%30.9%
Gross profit margin%20.121.222.5
Effective tax rate%23.521.323.5
Net profit margin%13.212.313.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 28.4% on a year-on-year (YoY) basis. The expenses were up by 24.6% YoY during the same period.
  • The company's operating profit increased by 43.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.5% in 1QFY21 as against 20.1% in 1QFY20.
  • Depreciation charges increased by 35.0% and finance costs increased by 269.2% YoY, respectively.
  • Other income declined by 67.5% YoY during the quarter.
  • Net profit for the quarter increased by 30.9% YoY. Net profit margins during the quarter increased from 13.2% in 1QFY20 to 13.6% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 21.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 19.8% QoQ during the same period.
  • The company's operating profit increased by 29.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.5% in 1QFY21 as against 21.2% in 4QFY20.
  • Net profit for the quarter increased by 34.2% QoQ, while net profit margins increased from 12.3% in 4QFY20 to 13.6% in 1QFY21.

To see how PI INDUSTRIES has performed over the last eight quarters,please visit here.

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PI INDUSTRIES Share Price Performance

Over the last one year,PI INDUSTRIES share price has moved up from Rs 1,119.4 to Rs 1,943.5, registering a Gain of Rs 824.1 or around 73.6%.

Overall, the S&P BSE SENSEX is up 2.5% over the year.

Current Valuations

At the current price of Rs 1,943.5, the price to earnings (P/E) ratio of PI INDUSTRIES stands at 56.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.6 times.

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