PI INDUSTRIES Announces Quarterly Results (1QFY22); Net Profit Up 30.8%

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PI INDUSTRIES Announces Quarterly Results (1QFY22); Net Profit Up 30.8%
Tue, 3 Aug

PI INDUSTRIES has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

PI INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m10,60111,97111,938-0.3%12.6%
Other incomeRs m82442277-37.3%237.8%
TurnoverRs m10,68312,41312,215-1.6%14.3%
ExpensesRs m8,3099,6979,449-2.6%13.7%
Gross profitRs m2,2922,2742,4899.5%8.6%
DepreciationRs m4274484878.7%14.1%
InterestRs m964434-22.7%-64.6%
Profit before taxRs m1,8512,2242,2450.9%21.3%
TaxRs m444425405-4.7%-8.8%
Profit after taxRs m1,4071,7991,8402.3%30.8%
Gross profit margin%21.619.020.8
Effective tax rate%24.019.118.0
Net profit margin%13.214.515.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 12.6% on a year-on-year (YoY) basis. The expenses were up by 13.7% YoY during the same period.
  • The company's operating profit increased by 8.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.8% in 1QFY22 as against 21.6% in 1QFY21.
  • Depreciation charges increased by 14.1% and finance costs declined by 64.6% YoY, respectively.
  • Other income increased by 237.8% YoY during the quarter.
  • Net profit for the quarter increased by 30.8% YoY. Net profit margins during the quarter increased from 13.2% in 1QFY21 to 15.1% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.6% QoQ during the same period.
  • The company's operating profit increased by 9.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.8% in 1QFY22 as against 19.0% in 4QFY21.
  • Net profit for the quarter increased by 2.3% QoQ, while net profit margins increased from 14.5% in 4QFY21 to 15.1% in 1QFY22.

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 1,841.4 to Rs 3,300.0, registering a Gain of Rs 1,458.6 or around 79.2%.

Overall, the S&P BSE SENSEX is up 42.6% over the year.

Current Valuations

At the current price of Rs 3,300.0, the price to earnings (P/E) ratio of PI INDUSTRIES stands at 64.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 19.1 times.

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