Strong beat in Q3, positive management commentary sees stock gain more than 9 per cent on Wednesday
Triggers in exports and domestic businesses to continue driving earnings while pharma CSM foray takes shape
The management has accepted his request and accordingly he shall be relieved from his current responsibilities w.e.f. closing hours of August 18, 2020, the company said
For FY21, the company indicated that domestic growth would be in the 20-22 per cent band outperforming the market growth
The company posted a 43 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 146 crore.
Mutual Funds increased stake by more than four percentage points to 21.19 per cent in PI Industries, while FPIs hiked their holdings by nearly two percentage points to 13.82 per cent in June quarter
Robust order book, rising international opportunities should drive earnings
Given the essential nature of production, some plants are exempted from the lockdown
The investor community, however, favours stocks which are trade above the 200-day moving average (DMA)
Coromandel International, PI Industries may be some of the beneficiaries
The management said the outlook for H2FY20 continues to be healthy on account of sustained introduction of high-potential brands targeting a variety of crops and regions.
Firm added to its growth pipeline by acquiring Isagro last week
The uptick in the global agricultural cycle will sustain the growth momentum in the CSM segment
Growth could pick up in FY19 on recovery in exports, new product launches
But, near-term global agrochemical demand expected to be soft, with recovery towards end of the year
But near-term global agrochemical demand is expected to be soft with recovery towards end of FY18
The stock surged 7% to Rs 640 after reported 58% YoY growth in net profit at Rs 95 crore in Q4FY16