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.
The announcement was made after trading hours yesterday, 24 July 2019.
Meanwhile, 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.
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PI Industries focuses on complex chemistry solutions in agrisciences.
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