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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of PI Industries Ltd (PIIND)

About the Company - PI Industries Ltd (PIIND)

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. Shobinder DuggalIndependent Director
Ms. Pia SinghIndependent Director
Dr. T S BalganeshIndependent Director
Ms. Lisa J BrownIndependent Director

PI Industries Ltd. Share Price Update

Share PriceValue
Today₹3,480.20
Previous Day₹3,454.05

Basic Stock Data of PI Industries Ltd (PIIND)

Market Cap 55,749 Cr.
Current Price 3,674
High / Low4,011/2,869
Stock P/E35.0
Book Value 526
Dividend Yield0.27 %
ROCE21.7 %
ROE18.5 %
Face Value 1.00

Data Source: screener.in

Competitors of PI Industries Ltd (PIIND)

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Sumitomo Chemical India Ltd 18,778 Cr. 376476/37056.4 50.60.32 %30.2 %23.4 % 10.0
NACL Industries Ltd 1,468 Cr. 73.7105/67.8 26.90.93 %15.2 %18.0 % 1.00
Rallis India Ltd 4,683 Cr. 241274/18647.2 93.90.00 %7.77 %5.37 % 1.00
Sharda Cropchem Ltd 3,322 Cr. 368580/36238.1 2321.63 %20.8 %15.9 % 10.0
UPL Ltd 36,667 Cr. 488760/452 3852.06 %14.3 %13.4 % 2.00
Industry Average12.4 Cr309.3428.34157.680.99%17.65%15.21%4.8

PI Industries Ltd (PIIND) Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales1,1581,1621,1971,1941,3541,3561,3951,5431,7701,6131,5661,9102,117
Expenses8788879709451,0631,0601,0901,1981,3381,1981,2231,4431,566
Operating Profit280275227249292296305346432415343468551
OPM %24%24%19%21%22%22%22%22%24%26%22%24%26%
Other Income34394431282621283351515249
Interest87433334119348
Depreciation43444549495054565657587080
Profit before tax263264222228267269269314398400332445512
Tax %17%26%19%18%14%17%24%16%16%12%16%14%6%
Net Profit218195180187230223204262335352281383480
EPS in Rs14.3412.8811.8512.3415.1314.6713.4717.3022.0723.1918.4925.2431.67

PI Industries Ltd (PIIND) Quarterly Chart

PI Industries Ltd (PIIND) Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales8791,1511,5961,9402,0962,2772,2772,8413,3664,5775,3006,4927,206
Expenses7339691,3001,5581,6611,7221,7812,2612,6473,5594,1544,9485,429
Operating Profit1461832953824355554965807201,0181,1461,5441,777
OPM %17%16%19%20%21%24%22%20%21%22%22%24%25%
Other Income36811353436605850129105166202
Interest21241412129771934163924
Depreciation1722325054738393137175202226264
Profit before tax1431452613554035104665386149381,0331,4441,690
Tax %28%33%28%31%23%10%21%24%26%21%18%15%
Net Profit104971882463124593684104577388441,2301,496
EPS in Rs8.277.1813.8118.0022.7233.3926.6629.7233.0648.6655.6281.0498.59
Dividend Payout %12%14%14%14%14%12%15%13%12%10%11%12%

PI Industries Ltd (PIIND) Profit & Loss Yearly Chart

PI Industries Ltd (PIIND) Growth

Compounded Sales Growth
10 Years:19%
5 Years:23%
3 Years:24%
TTM:18%
Compounded Profit Growth
10 Years:29%
5 Years:28%
3 Years:39%
TTM:38%
Stock Price CAGR
10 Years:31%
5 Years:32%
3 Years:18%
1 Year:14%
Return on Equity
10 Years:20%
5 Years:18%
3 Years:17%
Last Year:18%

PI Industries Ltd (PIIND) Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital13141414141414141415151515
Reserves3135186818831,1571,6131,9112,2722,6055,3276,1057,1837,967
Borrowings247217122115151120834951937331646181
Other Liabilities2293865016226265546188201,0871,2871,3541,2351,964
Total Liabilities8021,1351,3181,6331,9492,3012,6263,1554,2257,0027,7918,48010,127
Fixed Assets2974785275338749459981,1861,8582,1382,4522,6063,411
CWIP816142133717790183271288114132237
Investments11110831611291508729001,0161,180
Other Assets4235967489671,0031,1961,3781,6571,9463,7044,3254,7265,299
Total Assets8021,1351,3181,6331,9492,3012,6263,1554,2257,0027,7918,48010,127

PI Industries Ltd (PIIND) Reserves and Borrowings Chart

PI Industries Ltd (PIIND) Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 1041022191843673393193916987255291,501
Cash from Investing Activity -105-145-50-146-303-235-180-322-985-2,430-110-496
Cash from Financing Activity 245-145-53-48-53-106-1253501,690-177-483
Net Cash Flow1324-15165033-5663-15241522

PI Industries Ltd (PIIND) 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%

PI Industries Ltd (PIIND) Financial Efficiency Indicators Chart

PI Industries Ltd (PIIND) Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters46.74%46.74%46.74%46.74%46.74%46.74%46.09%46.09%46.08%46.08%46.09%46.09%
FIIs19.35%19.64%19.71%18.88%16.44%15.97%16.72%18.60%18.59%19.17%20.01%20.41%
DIIs21.27%21.98%21.65%22.98%25.33%25.85%26.00%24.24%24.06%23.80%23.11%23.00%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.15%0.15%0.15%0.15%0.15%0.15%
Public12.57%11.58%11.85%11.35%11.45%11.39%11.01%10.90%11.10%10.77%10.61%10.34%
Others0.06%0.06%0.05%0.04%0.04%0.04%0.03%0.03%0.03%0.03%0.02%0.02%
No. of Shareholders99,4871,01,4161,22,9891,40,2791,51,1381,48,0431,40,7201,42,5501,48,0371,41,0921,58,2681,84,515

PI Industries Ltd (PIIND) Shareholding Pattern Chart

No. of PI Industries Ltd (PIIND) Shareholders

PI Industries Ltd (PIIND) Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Axis ELSS Tax Saver Fund34041583.881283.67
Kotak Emerging Equity Fund - Regular Plan21600002.23814.51
Axis Midcap Fund14945132.39563.57
Axis Focused 25 Fund14122253.75532.54
Canara Robeco Emerging Equities10696342.14403.35
UTI Flexi Cap Fund9933591.47374.59
Mirae Asset Large Cap Fund8931110.93336.78
ICICI Prudential Balanced Advantage Fund8891010.65335.27
Axis Growth Opportunities Fund8309873.01313.36
SBI Blue Chip Fund6000000.56226.25

PI Industries Ltd (PIIND) ROCE Trend

PI Industries Ltd (PIIND) EPS Trend

PI Industries Ltd (PIIND) Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)81.0655.6549.9233.0829.74
Diluted EPS (Rs.)81.0455.6349.8933.0829.73
Cash EPS (Rs.)95.3468.5559.7842.9336.46
Book Value[Excl.RevalReserv]/Share (Rs.)473.59402.66351.47189.79165.61
Book Value[Incl.RevalReserv]/Share (Rs.)473.59402.66351.47189.79165.61
Revenue From Operations / Share (Rs.)427.11348.65301.12243.95205.86
PBDIT / Share (Rs.)111.9181.8374.8155.5646.08
PBIT / Share (Rs.)97.0168.5563.3145.6539.34
PBT / Share (Rs.)94.5767.7161.4544.4238.98
Net Profit / Share (Rs.)80.4455.2848.2833.0329.72
NP After MI And SOA / Share (Rs.)80.8955.5148.5733.0929.72
PBDIT Margin (%)26.2023.4724.8422.7722.38
PBIT Margin (%)22.7119.6621.0218.7119.11
PBT Margin (%)22.1419.4220.4018.2018.93
Net Profit Margin (%)18.8315.8516.0313.5314.43
NP After MI And SOA Margin (%)18.9315.9216.1313.5614.43
Return on Networth / Equity (%)17.0713.7813.8117.4317.94
Return on Capital Employeed (%)20.2016.1716.7520.1623.16
Return On Assets (%)14.4910.8310.5410.8013.00
Long Term Debt / Equity (X)0.000.020.040.150.00
Total Debt / Equity (X)0.000.040.040.190.00
Asset Turnover Ratio (%)0.770.690.770.910.98
Current Ratio (X)4.793.683.571.832.08
Quick Ratio (X)3.612.632.741.101.42
Inventory Turnover Ratio (X)2.422.342.612.642.78
Dividend Payout Ratio (NP) (%)9.248.988.2013.6016.79
Dividend Payout Ratio (CP) (%)7.807.246.6310.4613.69
Earning Retention Ratio (%)90.7691.0291.8086.4083.21
Cash Earning Retention Ratio (%)92.2092.7693.3789.5486.31
Interest Coverage Ratio (X)45.8597.1740.3245.10127.18
Interest Coverage Ratio (Post Tax) (X)33.9666.6427.0227.8183.04
Enterprise Value (Cr.)43769.0241737.5632907.0616513.2914152.64
EV / Net Operating Revenue (X)6.747.887.194.914.98
EV / EBITDA (X)25.7333.5628.9421.5422.26
MarketCap / Net Operating Revenue (X)7.098.097.494.795.01
Retention Ratios (%)90.7591.0191.7986.3983.20
Price / BV (X)6.397.016.416.166.23
Price / Net Operating Revenue (X)7.098.097.494.795.01
EarningsYield0.020.010.020.020.02

PI Industries Ltd (PIIND) Profitability Ratios (%)

PI Industries Ltd (PIIND) Liquidity Ratios

PI Industries Ltd (PIIND) Liquidity Ratios (%)

PI Industries Ltd (PIIND) Interest Coverage Ratios (%)

PI Industries Ltd (PIIND) Valuation Ratios

Fair Value / Intrinsic Value of PI Industries Ltd (PIIND)

Fair Value: ₹3415.05

The stock is overvalued by 7.05% compared to the current price ₹3674

*Investments are subject to market risks

Strength and Weakness of PI Industries Ltd (PIIND)

StrengthWeakness
  1. The stock has a high average ROCE of 27.75%, which is a positive sign.
  2. The company has higher reserves (2,964.23 cr) compared to borrowings (195.31 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (70.38 cr) and profit (336.62 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 62.77 and average Dividend Yield of 20.24%.
  2. The stock has a high average Working Capital Days of 74.00, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 99.08, which may not be favorable.

Should I Buy PI Industries Ltd (PIIND) Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in PI Industries Ltd (PIIND):
    1. Net Profit Margin: 18.83%
      • 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: 20.20% (Industry Average ROCE: 14.54%)
      • 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. Interest Coverage Ratio (Post Tax): 33.96
      • 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.
    4. Quick Ratio: 3.61
      • 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.
    5. ✗ Stock P/E: 35.0 (Industry average Stock P/E: 28.6)
      • 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.
    6. ✓ Total Debt / Equity: 0.00
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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