Growth guidance may help PI Industries maintain 'outperformance'

Despite cost pressures, the company was able to expand margins in Q1

The stock of the country’s second largest agrochemical maker by market capitalisation, PI Industries has been an outperformer gaining 12 per cent since the start of the month. Both the BSE 100 of which it is a constituent as well as the benchmark BSE Sensex are up about 2 per during this period. The trigger for the stock rally has been the June quarter (Q1FY23) and a strong growth guidance for FY23.

Led by robust volumes, price gains and currency benefit, the company posted a better than expected top line performance. Consolidated revenues were up 29 per cent y-o-y to