PI Industries: Reaping gains from sustained growth across businesses

Strong beat in Q3, positive management commentary sees stock gain more than 9 per cent on Wednesday

A strong beat in December quarter (Q3) results, announced on Tuesday evening, boosted investor sentiment towards PI Industries. Its stock jumped 11.5 per cent in intra-day trade before closing nine per cent up on Wednesday. Robust demand, plans to expand operations through acquisitions and new product launches are seen driving growth momentum for the agro-chemicals maker.

The company reported better-than-expected results in Q3 aided by strong growth across its business verticals. 

Revenue rose 37 per cent year-on-year to Rs 1,162 crore, beating consensus estimate of Rs 1,084 crore by a wide margin. This was aided by continued traction in the exports