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| CAPITALSTARS INVESTMENT ADVISER |
PI Industries advances after robust Q1 results.
PI Industries rose 2.58% to Rs 1,102 at 9:45 IST on BSE after the company's consolidated net profit rose 23.6% to Rs 101.60 crore on a 24.5% surge in net sales to Rs 754.10 crore in Q1 June 2019 over Q1 June 2018.
S&P BSE Sensex was up 307.60 points or 0.81% at 38,155.25.
On BSE, 471 shares were traded in PI Industries counter, compared to a 2-week average of 8,073 shares.The share price hit an intraday high of Rs 1,115 and an intraday low of Rs 1,100. It hit a 52-week high of Rs 1,229.30 on 19 June 2019 and a 52-week low of Rs 691.80 on 1 October 2018.
The EBITDA rose 28% to Rs 151 crore in Q1 June 2019 over Q1 June 2018. The EBITDA margins stood at 20.1% in Q1 June 2019. Margin delivery was healthy in spite of pressure on domestic business and ramp-up cost in new manufacturing facilities.
With a progressive improvement in overall performance, the Company reported healthy cash flows, resulting in a stronger balance sheet. The net debt to equity ratio stood at nearly zero. Cash surplus position as on 30 June 2019 was at Rs 165 crore.
PI Industries focuses on complex chemistry solutions in agrisciences.
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