PI Industries Ltd - Stock Valuation and Financial Performance

BSE: 523642 | NSE: PIIND | Pesticides & Agrochemicals | Mid Cap

PI Industries Share Price

3,858.15 -1.90 -0.05%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on PI Industries

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

PI Industries stock performance -

mw4me loader
P/E Ratio (CD):
36.75
Market Cap:
58,535.1 Cr.
52-wk low:
2,997.1
52-wk high:
4,032

Is PI Industries Ltd an attractive stock to invest in?

1. Is PI Industries Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that PI Industries Ltd is a good quality company.

2. Is PI Industries Ltd undervalued or overvalued?

The key valuation ratios of PI Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is PI Industries Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of PI Industries Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of PI Industries:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
PI Industries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 25.7%27%26.7%29.6%18.7%18.7%16.5%16.8%14.2%18.3%-
Value Creation
Index
0.80.91.01.20.40.40.50.50.30.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,5961,9402,0962,2772,2772,8413,3674,5775,3006,4927,490
Sales YoY Gr.-21.6%8%8.6%0%24.8%18.5%36%15.8%22.5%-
Adj EPS 14.117.422.132.525.12931.747.255.880.1105
YoY Gr.-24.1%26.9%47.1%-22.9%15.7%9.2%48.8%18.3%43.7%-
BVPS (₹) 50.865.684.6117.2138.7165.1190.1351.8402.9473.8555.6
Adj Net
Profit
1912383034483464014377158461,2151,592
Cash Flow from Ops. 2191843673393193916987255291,501-
Debt/CF from Ops. 0.60.60.40.40.30.10.70.50.50-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 16.9%23.3%24.5%22.5%
Adj EPS 21.3%26.1%36.2%43.7%
BVPS28.2%27.8%35.6%17.6%
Share Price 31% 30.4% 16.4% 27.3%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
31.229.929.33219.51917.81814.818.320.4
Op. Profit
Mgn %
18.519.720.824.421.820.421.422.221.723.825.6
Net Profit
Mgn %
1212.314.519.715.214.11315.61618.721.3
Debt to
Equity
0.20.10.10.1000.20.100-
Working Cap
Days
154175212220313284253224244218148
Cash Conv.
Cycle
32365057785761545856112

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 20.40%

Sales growth is growing at healthy rate in last 3 years 24.47%

Net Profit is growing at healthy rate in last 3 years 36.23%

Sales growth is good in last 4 quarters at 18.31%

No data to display

Latest Financials - PI Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 107.2 105
TTM Sales (₹ Cr.) 7,026 7,490
BVPS (₹.) 551.7 555.6
Reserves (₹ Cr.) 8,355 8,414
P/BV 6.99 6.94
PE 36.01 36.75
From the Market
52 Week Low / High (₹) 2997.05 / 4032.00
All Time Low / High (₹) 0.42 / 4032.00
Market Cap (₹ Cr.) 58,535
Equity (₹ Cr.) 15.2
Face Value (₹) 1
Industry PE 36.1

Management X-Ray of PI Industries:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of PI Industries

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,5961,9402,0962,2772,2772,8413,3674,5775,3006,492
Operating Expenses 1,3051,5651,6631,7221,7822,2712,6473,5594,1544,948
Manufacturing Costs208215153167182224268332398463
Material Costs8691,0641,1591,1631,1691,5501,8472,5712,9233,553
Employee Cost 111143193223243265321417480527
Other Costs 117143158169188233211239353405
Operating Profit 2913754335554965707201,0181,1461,544
Operating Profit Margin (%) 18.2%19.3%20.7%24.4%21.8%20.0%21.4%22.2%21.6%23.8%
Other Income 16423537606849125101159
Interest 14121297719341639
Depreciation 325054738393137175202227
Exceptional Items 0000000000
Profit Before Tax 2613554035104665386149391,0331,444
Tax 73109915098128157200189215
Profit After Tax 1882463124593684104577388441,230
PAT Margin (%) 11.8%12.7%14.9%20.2%16.1%14.4%13.6%16.1%15.9%18.9%
Adjusted EPS (₹)13.818.022.733.426.629.733.148.655.580.9
Dividend Payout Ratio (%)14%14%14%12%15%13%12%10%11%12%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 6948951,1601,6131,9152,2782,6245,3486,1247,201
Share Capital 14141414141414151515
Reserves 6808821,1461,5991,9012,2642,6105,3326,1097,186
Minority Interest0000000000
Debt86811248346105082571700
Long Term Debt50171228346103992571700
Short Term Debt36652000108000
Trade Payables292354366288369513591796924838
Others Liabilities 4225916797951,4641,0621,3191,6311,7801,892
Total Liabilities 1,4931,9222,3292,7793,7943,8635,0428,0328,9979,931

Fixed Assets

Gross Block6837059281,0711,2071,4862,2922,7473,2543,614
Accumulated Depreciation156172541262093014346098021,009
Net Fixed Assets5275338749459981,1861,8582,1382,4532,606
CWIP 42133717790183271288115132
Investments 110831611291508729001,016
Inventories3193783954324525367991,0531,4231,398
Trade Receivables257383398424527662647704869772
Cash Equivalents 443456133131891341,4761,4102,243
Others Assets3044605356851,4361,0791,1831,5021,8291,765
Total Assets 1,4931,9222,3292,7793,7943,8635,0428,0328,9979,931

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 2191843673393193916987255291,501
PBT 2613554035104665386149391,0331,444
Adjustment 404658745512216481199108
Changes in Working Capital -8-972-123-105-15026-130-528205
Tax Paid -74-119-96-121-96-118-105-165-175-256
Cash Flow From Investing Activity -50-146-303-235-181-322-985-2,430-110-496
Capex -64-169-319-141-170-368-669-438-336-323
Net Investments 00-6-110-3827101-2,016159-259
Others 142221162719-417236785
Cash Flow From Financing Activity -145-53-48-53-106-1253501,690-177-483
Net Proceeds from Shares 44108238500
Net Proceeds from Borrowing -40-390-27000000
Interest Paid -12-11-10-7-5-5-18-24-9-34
Dividend Paid -27-30-73-25-66-83-75-61-76-114
Others -712425-2-37-404351,770-93-335
Net Cash Flow 24-15165033-5663-15241522
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)30.830.9930.3233.1420.8419.5718.6318.5214.7118.45
ROCE (%)35.2440.2335.5333.7725.1825.123.1322.0917.421.84
Asset Turnover Ratio1.351.281.030.930.70.790.790.730.650.71
PAT to CFO Conversion(x)1.160.751.180.740.870.951.530.980.631.22
Working Capital Days
Receivable Days51536563757268515244
Inventory Days55586463706069708276
Payable Days1121111131031021041099810791

PI Industries Ltd Stock News

PI Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of PI Industries on 12-Apr-2024 16:59 is ₹3,858.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 16:59 the market cap of PI Industries stood at ₹58,535.1.
The latest P/E ratio of PI Industries as of 12-Apr-2024 16:59 is 36.01.
The latest P/B ratio of PI Industries as of 12-Apr-2024 16:59 is 6.99.
The 52-week high of PI Industries is ₹4,032 and the 52-week low is ₹2,997.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of PI Industries is ₹7,026 ( Cr.) .

About PI Industries Ltd

Incorporated in 1947, PI Industries focuses on complex chemistry solutions in agri and pharma sciences. With the strength of employees, PI Industries currently operates a strong infrastructure set-up consisting of many formulation facilities as well as various multi-product plants under its manufacturing locations. These state-of-the-art facilities have integrated process development teams with in-house engineering capabilities. The Company maintains a strong research presence through its R&D facility at Udaipur.

The facility includes advanced research and development labs, kilo plants and pilot plants with NABL certification. Over the years, the Company has successfully leveraged its capabilities across the Agri-sciences value chain by providing integrated and innovative solutions to its customers by partnering with the best. Its business approach is built on the foundation of trust, integrity and IP protection. PI Industries has formed partnerships with leading companies globally where it provides solutions across the fields of research & development, regulatory services, manufacturing services, application development, marketing, distribution and customer connect initiatives.

Business area of the company

PI Industries is engaged in the business of- Agri inputs, Fine Chemicals and (CRAMS) Contract Research and Manufacturing Services), Polymers and Engineering Services.

Products:

  • Agrochemicals
  • Fungicides
  • Herbicides
  • Specialty Products

Achievements & Accreditations

1947-1980

  • R&D recognized by Ministry of Science and Technology.

1980-2000

  • ISO 9002 and 14001 Certifications.

2000-2005

  • Accredited by OHSAS 18001 and ISO 17025.
  • Launched 8 new Products in Indian Market.
  • Introduced 10 Global Products in CSM.

2005-2012

  • Recognized as Power Brands Hall of Fame - Corporate Leader of the Year Award.
  • Certificate of Excellence for outstanding performance in Supplier Sustainability by Bayer Group of Companies.

2012-2013

  • Best Supplier Award at Agrow Awards.
  • Green Manufacturing Excellence Award by Frost and Sullivan.

2013-2014

  • Certificate of Appreciation from National Safety Council of India.
  • India’s Best CEO Award by Business Today to CMD, Mr. Salil Singhal.
  • Best Manager with Strategic Vision Award to MD, Mr. Mayank Singhal at Agrow Awards.
  • Golden Peacock Award for Environment Management.
  • Business Impact Award, Enterprise Security & Innovation to IT Department by 9.9 Mediaworx.
  • Udyog Rattan Award to MD, Mr Mayank Singhal by Institute of Economic Studies.

2014-2015

  • Best CEO Award to Mr. Salil Singhal , Business India Mindrush.
  • Lifetime Achievement Award to Mr. Salil Singhal , 7th International Agriculture Summit.
  • EY Entrepreneur of the Year Award to Mr. Salil Singhal.
  • Certificate of Excellence - Winner Global Sourcing - Outstanding Performance by Bayer Group of Companies.
  • Green Manufacturing Excellence Award by Frost and Sullivan.

2015-2016

  • Awarded Silver Trophy for safety by National Safety Council of India.
  • Golden Peacock Awards for Quality.
  • Flame Awards Asia 2016 for Brand Building.

2016-2018

  • Frost & Sullivan Award.
  • Social Change Award.
  • Global Sourcing -Outstanding Performance Award.
  • Shreshtha Suraksha Puraskar.
  • Golden Peacock Awards for Quality.
  • Recertification of ISO 14001:2015 and OHSAS 18001:2007.
  • ISO 27001:2013 certification for implementation of information security.

2019

  • Lifetime achievement award to Mr. Salil Singhal.
  • Golden Peacock Award for CSR in Chemical and Fertiliser Segment.

Milestones

1947-1980

  • Established marketing network across India.
  • Installed Agchem technical plant.
  • Diversified into mining and mineral processing business. Later hived off into a separate company named as Wolkem India Ltd.
  • First export of Agchem formulation.
  • Started AgChem Formulation and Marketing under VEGFRU brand.

1980-2000

  • Changed name to PI Industries Ltd.
  • Diversified into Polymer Compounding.
  • Diversified into Custom Synthesis & Manufacturing.
  • Diversified into Energy Metering: later rechristened as Secure Meters Ltd.
  • Set up manufacturing site at Panoli (Gujarat).
  • Installation of Phorate technical Plant.
  • Set up a turnkey Agchem Manufacturing Unit in the Middle East.

2000-2005

  • Divested polymer business.
  • Expansion of R&D Centre at Udaipur.
  • Started Formulation plant at Jammu.

2005-2012

  • Successfully commissioned a new manufacturing site at Jambusar, Gujarat.
  • PI-Sony Research Initiative.
  • Divested Polymer Compounding business.
  • Expansion of Custom Synthesis & Manufacturing (CSM) facilities (Built two new MPPs in Panoli).

2013-2014

  • New Formulation site setup at Panoli (Gujarat).

2014-2015

  • Established office in Germany.
  • Commercialized three new molecules for custom synthesis exports.

2015-2016

  • Solinnos Agro - a Joint Venture with Mitsui Chemicals Agro (MCAG) and PI.
  • Established a State-of-the-Art R&D center (P. P Singhal Research Centre at Udaipur, Rajasthan).
  • Established a new operations office at Vadodara (Gujarat).
  • Upgraded to SAP Hana.
  • Two world class Multi Product Plants commissioned at Jambusar (Gujarat).

2017- 2018

  • PI Industries and Kumiai Chemical Industry Co. Ltd. establish a Joint Venture in India
  • Entry into Sugarcane Crop Protection market with launch of COSKO.
  • The Iconic brand “NOMINEE GOLD” completes 10 years.

2019-2020

  • Acquisition of Isagro Asia Agrochemicals Private Ltd.
  • Commissioning of multi product facility at Jambusar Site.
  • Entered in to agri-solutions like mechanised Spray Machines.
  • Silver Jubilee celebration of Panoli manufacturing unit.
  • PI Industries to acquire entire stake in Isagro Asia Agrochemicals
  • PI Industries has incorporated a wholly owned subsidiary named 'Jivagro’ on December 12, 2019
  • PI Industries has completed its acquisition of Isagro (Asia) Agrochemicals from Isagro Spa and its affiliates, a deal which was signed in Nov, 2019.
  • PI Industries has started commercial production of newly set-up unit of the company situated at Gujarat with effect from March 11, 2020.
  • PI Industries has incorporated two wholly owned subsidiary Companies namely ‘PI Enzachem’ and ‘PI Fermachem’ on September 11, 2020.
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