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Buy PI Industries; target of Rs 5049: Sharekhan

Sharekhan is bullish on PI Industries has recommended buy rating on the stock with a target price of Rs 5049 in its research report dated August 08, 2024.

August 12, 2024 / 20:56 IST
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    26 Aug, 2025 12:21
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    Sharekhan's research report on PI Industries

    PI Industries’ (PI) revenue for the quarter reached Rs. 2,069 crore, reflecting an 8% y-o-y increase and a 19% q-o-q rise, 2% above expectations. EBITDA stood at Rs. 583 crore, marking a 25% y-o-y increase and a 32% q-o-q rise, 6% above expectations. Management is highly confident of achieving the FY2025 guidance of double-digit growth over the topline (including pharma) and considers 25-26% to be a sustainable long-term operating profit margin.

    Outlook

    We maintain BUY with a revised PT of Rs. 5,049. Growth is expected to accelerate with the expansion of the pharma segment. At the CMP, the stock is trading at 33x its FY2026E EPS and 27x its FY2027E EPS.

    For all recommendations report, click here

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    PI Industries_12082024_Sharekhan

    Broker Research
    first published: Aug 12, 2024 08:56 pm

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