Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated on: 24 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

PI Industries Ltd (PIIND): Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 9:46 pm

Market Cap 62,474 Cr.
Current Price 4,117
High / Low4,804/3,060
Stock P/E35.2
Book Value 629
Dividend Yield0.36 %
ROCE24.0 %
ROE21.1 %
Face Value 1.00
PEG Ratio1.29

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for PI Industries Ltd (PIIND)

Competitors of PI Industries Ltd (PIIND)

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Epigral Ltd 8,360 Cr. 1,9472,408/88628.6 3370.26 %17.5 %16.9 % 10.0
Dharmaj Crop Guard Ltd 970 Cr. 287390/19724.0 1170.00 %14.5 %13.2 % 10.0
Bhaskar Agrochemicals Ltd 36.6 Cr. 70.3122/46.118.6 29.20.00 %14.7 %13.4 % 10.0
Bhagiradha Chemicals & Industries Ltd 4,065 Cr. 328448/117151 51.00.03 %9.69 %6.27 % 1.00
Best Agrolife Ltd 1,410 Cr. 595918/45438.3 3200.50 %16.5 %18.1 % 10.0
Industry Average11,996.74 Cr1,761.7442.05387.580.31%13.80%15.51%7.35

All Competitor Stocks of PI Industries Ltd (PIIND)

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales1,1621,1971,1941,3541,3561,3951,5431,7701,6131,5661,9102,1171,898
Expenses8879709451,0631,0601,0901,1981,3381,1981,2231,4431,5661,344
Operating Profit275227249292296305346432415343468551554
OPM %24%19%21%22%22%22%22%24%26%22%24%26%29%
Other Income39443128262128335151524958
Interest74333341193487
Depreciation44454949505456565758708078
Profit before tax264222228267269269314398400332445512526
Tax %26%19%18%14%17%24%16%16%12%16%14%6%15%
Net Profit195180187230223204262335352281383480449
EPS in Rs12.8811.8512.3415.1314.6713.4717.3022.0723.1918.4925.2431.6729.57

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,1511,5961,9402,0962,2772,2772,8413,3664,5775,3006,4927,666
Expenses9691,3001,5581,6611,7221,7812,2612,6473,5594,1544,9485,651
Operating Profit1832953824355554965807201,0181,1461,5442,015
OPM %16%19%20%21%24%22%20%21%22%22%24%26%
Other Income811353436605850129105166218
Interest241412129771934163930
Depreciation22325054738393137175202226308
Profit before tax1452613554035104665386149381,0331,4441,895
Tax %33%28%31%23%10%21%24%26%21%18%15%11%
Net Profit971882463124593684104577388441,2301,682
EPS in Rs7.1813.8118.0022.7233.3926.6629.7233.0648.6655.6281.04110.83
Dividend Payout %14%14%14%14%12%15%13%12%10%11%12%14%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)93.81%30.85%26.83%47.12%-19.83%11.41%11.46%61.49%14.36%45.73%36.75%
Change in YoY Net Profit Growth (%)0.00%-62.96%-4.02%20.29%-66.94%31.24%0.05%50.02%-47.12%31.37%-8.99%

PI Industries Ltd (PIIND) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:17%
5 Years:22%
3 Years:19%
TTM:10%
Compounded Profit Growth
10 Years:24%
5 Years:33%
3 Years:32%
TTM:19%
Stock Price CAGR
10 Years:25%
5 Years:24%
3 Years:11%
1 Year:9%
Return on Equity
10 Years:20%
5 Years:18%
3 Years:18%
Last Year:21%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 7:53 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital14141414141414141515151515
Reserves5186818831,1571,6131,9112,2722,6055,3276,1057,1838,7169,530
Borrowings217122115151120834951937331646191174
Other Liabilities3865016226265546188201,0871,2871,3541,2351,8222,275
Total Liabilities1,1351,3181,6331,9492,3012,6263,1554,2257,0027,7918,48010,74411,995
Fixed Assets4785275338749459981,1861,8582,1382,4522,6063,5283,988
CWIP6142133717790183271288114132278471
Investments1110831611291508729001,0161,3361,233
Other Assets5967489671,0031,1961,3781,6571,9463,7044,3254,7265,6016,303
Total Assets1,1351,3181,6331,9492,3012,6263,1554,2257,0027,7918,48010,74411,995

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +1022191843673393193916987255291,5012,036
Cash from Investing Activity +-145-50-146-303-235-180-322-985-2,430-110-496-1,800
Cash from Financing Activity +45-145-53-48-53-106-1253501,690-177-483-222
Net Cash Flow324-15165033-5663-1524152214

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-34.00173.00267.00284.00435.00413.00531.00201.00-372.00-315.00-45.00-189.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days728359726968848570566043
Inventory Days142131126124124136141126158149178144
Days Payable761301161161159011512111711311586
Cash Conversion Cycle137847080781131109011193122101
Working Capital Days8069505554728987817910171
ROCE %26%26%36%41%36%34%25%25%23%22%17%22%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters46.74%46.74%46.74%46.74%46.09%46.09%46.08%46.08%46.09%46.09%46.09%46.09%
FIIs19.71%18.88%16.44%15.97%16.72%18.60%18.59%19.17%20.01%20.41%20.26%18.76%
DIIs21.65%22.98%25.33%25.85%26.00%24.24%24.06%23.80%23.11%23.00%24.18%25.84%
Government0.00%0.00%0.00%0.00%0.15%0.15%0.15%0.15%0.15%0.15%0.15%0.15%
Public11.85%11.35%11.45%11.39%11.01%10.90%11.10%10.77%10.61%10.34%9.29%9.14%
Others0.05%0.04%0.04%0.04%0.03%0.03%0.03%0.03%0.02%0.02%0.02%0.01%
No. of Shareholders1,22,9891,40,2791,51,1381,48,0431,40,7201,42,5501,48,0371,41,0921,58,2681,84,5151,57,9911,56,790

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Axis ELSS Tax Saver Fund3,404,1583.881283.67889,1012024-11-22282.88%
Kotak Emerging Equity Fund - Regular Plan2,160,0002.23814.51889,1012024-11-22142.94%
Axis Midcap Fund1,494,5132.39563.57889,1012024-11-2268.09%
Axis Focused 25 Fund1,412,2253.75532.54889,1012024-11-2258.84%
Canara Robeco Emerging Equities1,069,6342.14403.35889,1012024-11-2220.31%
UTI Flexi Cap Fund993,3591.47374.59889,1012024-11-2211.73%
Mirae Asset Large Cap Fund893,1110.93336.78889,1012024-11-220.45%
ICICI Prudential Balanced Advantage Fund889,1010.65335.27889,1012024-11-220%
Axis Growth Opportunities Fund830,9873.01313.36889,1012024-11-22-6.54%
SBI Blue Chip Fund600,0000.56226.25889,1012024-11-22-32.52%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)110.8581.0655.6549.9233.08
Diluted EPS (Rs.)110.8381.0455.6349.8933.08
Cash EPS (Rs.)130.2195.3468.5559.7842.93
Book Value[Excl.RevalReserv]/Share (Rs.)574.41473.59402.66351.47189.79
Book Value[Incl.RevalReserv]/Share (Rs.)574.41473.59402.66351.47189.79
Revenue From Operations / Share (Rs.)504.33427.11348.65301.12243.95
PBDIT / Share (Rs.)146.21111.9181.8374.8155.56
PBIT / Share (Rs.)125.9397.0168.5563.3145.65
PBT / Share (Rs.)123.9694.5767.7161.4544.42
Net Profit / Share (Rs.)109.9380.4455.2848.2833.03
NP After MI And SOA / Share (Rs.)110.6380.8955.5148.5733.09
PBDIT Margin (%)28.9926.2023.4724.8422.77
PBIT Margin (%)24.9722.7119.6621.0218.71
PBT Margin (%)24.5722.1419.4220.4018.20
Net Profit Margin (%)21.7918.8315.8516.0313.53
NP After MI And SOA Margin (%)21.9318.9315.9216.1313.56
Return on Networth / Equity (%)19.2517.0713.7813.8117.43
Return on Capital Employeed (%)21.1420.2016.1716.7520.16
Return On Assets (%)15.6214.4910.8310.5410.80
Long Term Debt / Equity (X)0.010.000.020.040.15
Total Debt / Equity (X)0.010.000.040.040.19
Asset Turnover Ratio (%)0.790.770.690.770.91
Current Ratio (X)3.904.793.683.571.83
Quick Ratio (X)3.143.612.632.741.10
Inventory Turnover Ratio (X)2.652.422.342.612.64
Dividend Payout Ratio (NP) (%)10.379.248.988.2013.60
Dividend Payout Ratio (CP) (%)8.767.807.246.6310.46
Earning Retention Ratio (%)89.6390.7691.0291.8086.40
Cash Earning Retention Ratio (%)91.2492.2092.7693.3789.54
Interest Coverage Ratio (X)74.0845.8597.1740.3245.10
Interest Coverage Ratio (Post Tax) (X)56.7033.9666.6427.0227.81
Enterprise Value (Cr.)56230.5243769.0241737.5632907.0616513.29
EV / Net Operating Revenue (X)7.346.747.887.194.91
EV / EBITDA (X)25.3025.7333.5628.9421.54
MarketCap / Net Operating Revenue (X)7.677.098.097.494.79
Retention Ratios (%)89.6290.7591.0191.7986.39
Price / BV (X)6.746.397.016.416.16
Price / Net Operating Revenue (X)7.677.098.097.494.79
EarningsYield0.020.020.010.020.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of PI Industries Ltd (PIIND) as of November 24, 2024 is: 4,688.53

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 24, 2024, PI Industries Ltd (PIIND) is Undervalued by 13.88% compared to the current share price 4,117.00

Intrinsic Value of PI Industries Ltd (PIIND) as of November 24, 2024 is: 5,971.83

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 24, 2024, PI Industries Ltd (PIIND) is Undervalued by 45.05% compared to the current share price 4,117.00

Last 5 Year EPS CAGR: 27.37%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 27.75%, which is a positive sign.
  2. The company has higher reserves (3,730.85 cr) compared to borrowings (190.46 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (3.00 cr) and profit (352.75 cr) over the years.
  1. The stock has a high average Working Capital Days of 74.00, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 99.08, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in PI Industries Ltd (PIIND):
    1. Net Profit Margin: 21.79%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 21.14% (Industry Average ROCE: 13.8%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 19.25% (Industry Average ROE: 15.51%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 56.7
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 3.14
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 35.2 (Industry average Stock P/E: 31.08)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.01
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

PI Industries Ltd. is a Public Limited Listed company incorporated on 31/12/1946 and has its registered office in the State of Rajasthan, India. Company’s Corporate Identification Number(CIN) is L24211RJ1946PLC000469 and registration number is 000469. Currently company belongs to the Industry of Agro Chemicals/Pesticides. Company’s Total Operating Revenue is Rs. 5076.90 Cr. and Equity Capital is Rs. 15.20 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Agro Chemicals/PesticidesUdaisagar Road, Udaipur Rajasthan 313001investor@piind.com
http://www.piindustries.com
Management
NamePosition Held
Mr. Salil SinghalChairperson Emeritus
Mr. Narayan K SeshadriNon Exe. Non Ind Chairperson
Mr. Mayank SinghalVice Chairman & Mng.Director
Mr. Rajnish SarnaJoint Managing Director
Mr. Arvind SinghalNon Exe.Non Ind.Director
Mr. Rafael Del Rio DonosoNon Executive Director
Mr. Shobinder DuggalIndependent Director
Ms. Pia SinghIndependent Director
Ms. Lisa J BrownIndependent Director
Mr. T S BalganeshIndependent Director

FAQ

What is the latest intrinsic value of PI Industries Ltd (PIIND)?

The latest intrinsic value of PI Industries Ltd (PIIND) as on 24 November 2024 is ₹4688.53, which is 13.88% higher than the current market price of ₹4,117.00.

What is the Market Cap of PI Industries Ltd (PIIND)?

The Market Cap of PI Industries Ltd (PIIND) is 62,474 Cr..

What is the current Stock Price of PI Industries Ltd (PIIND) as on 24 November 2024?

The current stock price of PI Industries Ltd (PIIND) as on 24 November 2024 is 4,117.

What is the High / Low of PI Industries Ltd (PIIND) stocks in FY 2024?

In FY 2024, the High / Low of PI Industries Ltd (PIIND) stocks is 4,804/3,060.

What is the Stock P/E of PI Industries Ltd (PIIND)?

The Stock P/E of PI Industries Ltd (PIIND) is 35.2.

What is the Book Value of PI Industries Ltd (PIIND)?

The Book Value of PI Industries Ltd (PIIND) is 629.

What is the Dividend Yield of PI Industries Ltd (PIIND)?

The Dividend Yield of PI Industries Ltd (PIIND) is 0.36 %.

What is the ROCE of PI Industries Ltd (PIIND)?

The ROCE of PI Industries Ltd (PIIND) is 24.0 %.

What is the ROE of PI Industries Ltd (PIIND)?

The ROE of PI Industries Ltd (PIIND) is 21.1 %.

What is the Face Value of PI Industries Ltd (PIIND)?

The Face Value of PI Industries Ltd (PIIND) is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in PI Industries Ltd (PIIND). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE