Domestic and pharma businesses, lower guidance to weigh on PI Industries

Given healthy reservoir levels and late withdrawal of monsoon, the agricultural sector should see demand recovery, while pharma is also positioned for recovery

PI Industries reported a revenue growth of 5 per cent year-on-year (Y-o-Y) in Q2FY25, led by a surge in the custom synthesis and manufacturing (CSM) segment and the export business, which posted 10 per cent growth.

 

However, the domestic and pharma businesses continued to witness subdued demand (domestic revenue down 5 per cent and pharma down 43 per cent).

 

The operating profit grew 14 per cent Y-o-Y, led by an improvement in gross margin (up 520 basis points or bps) on account of better product mix and operating leverage.

 

Given healthy reservoir levels and late withdrawal of monsoon, the agricultural