PI INDUSTRIES Announces Quarterly Results (3QFY20); Net Profit Up 12.2%

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PI INDUSTRIES Announces Quarterly Results (3QFY20); Net Profit Up 12.2%
Mon, 17 Feb

PI INDUSTRIES has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

PI INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m7,0759,0748,498-6.3%20.1%
Other incomeRs m15210619785.8%29.6%
TurnoverRs m7,2279,1808,695-5.3%20.3%
ExpensesRs m5,5897,1556,642-7.2%18.8%
Gross profitRs m1,4861,9191,856-3.3%24.9%
DepreciationRs m2343153181.0%35.9%
InterestRs m152245104.5%200.0%
Profit before taxRs m1,3891,6881,6900.1%21.7%
TaxRs m3164604865.7%53.8%
Profit after taxRs m1,0731,2281,204-2.0%12.2%
Gross profit margin%21.021.121.8
Effective tax rate%22.827.328.8
Net profit margin%14.813.413.8
* 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 20.1% on a year-on-year (YoY) basis. The expenses were up by 18.8% YoY during the same period.
  • The company's operating profit increased by 24.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.8% in 3QFY20 as against 21.0% in 3QFY19.
  • Depreciation charges increased by 35.9% and finance costs increased by 200.0% YoY, respectively.
  • Other income increased by 29.6% YoY during the quarter.
  • Net profit for the quarter increased by 12.2% YoY. Net profit margins during the quarter declined from 14.8% in 3QFY19 to 13.8% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.2% QoQ during the same period.
  • The company's operating profit declined by 3.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.8% in 3QFY20 as against 21.1% in 2QFY19.
  • Net profit for the quarter declined by 2.0% QoQ, while net profit margins increased from 13.4% in 2QFY19 to 13.8% in 3QFY20.

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 892.5 to Rs 1,536.1, registering a Gain of Rs 643.6 or around 72.1%.

Overall, the S&P BSE SENSEX is up 14.4% over the year.

Current Valuations

At the current price of Rs 1,536.1, the price to earnings (P/E) ratio of PI INDUSTRIES stands at 44.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.2 times.

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