PI INDUSTRIES Announces Quarterly Results (2QFY21); Net Profit Up 70.4%

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PI INDUSTRIES Announces Quarterly Results (2QFY21); Net Profit Up 70.4%
Fri, 30 Oct

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

PI INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m9,0749,68410,70610.6%18.0%
Other incomeRs m10640314685.0%196.2%
TurnoverRs m9,1809,72411,02013.3%20.0%
ExpensesRs m7,1557,5078,0367.0%12.3%
Gross profitRs m1,9192,1772,67022.6%39.1%
DepreciationRs m3153974031.5%27.9%
InterestRs m229678-18.8%254.5%
Profit before taxRs m1,6881,7242,50345.2%48.3%
TaxRs m4604054111.5%-10.7%
Profit after taxRs m1,2281,3192,09258.6%70.4%
Gross profit margin%21.122.524.9
Effective tax rate%27.323.516.4
Net profit margin%13.413.619.0
* 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 18.0% on a year-on-year (YoY) basis. The expenses were up by 12.3% YoY during the same period.
  • The company's operating profit increased by 39.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.9% in 2QFY21 as against 21.1% in 2QFY20.
  • Depreciation charges increased by 27.9% and finance costs increased by 254.5% YoY, respectively.
  • Other income increased by 196.2% YoY during the quarter.
  • Net profit for the quarter increased by 70.4% YoY. Net profit margins during the quarter increased from 13.4% in 2QFY20 to 19.0% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 10.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.0% QoQ during the same period.
  • The company's operating profit increased by 22.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.9% in 2QFY21 as against 22.5% in 1QFY20.
  • Net profit for the quarter increased by 58.6% QoQ, while net profit margins increased from 13.6% in 1QFY20 to 19.0% in 2QFY21.

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

Discover: India's #1 Defence Stock

PI INDUSTRIES Share Price Performance

Over the last one year, PI INDUSTRIES share price has moved up from Rs 1,397.8 to Rs 2,197.3, registering a Gain of Rs 799.5 or around 57.2%.

Overall, the S&P BSE SENSEX is down 0.8% over the year.

Current Valuations

At the current price of Rs 2,197.3, the price to earnings (P/E) ratio of PI INDUSTRIES stands at 53.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 13.1 times.

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