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PI Industries: A sizeable entry into pharma

Acquisition of Ind Swift Laboratories would provide synergistic benefits and would be new growth catalyst for the company. Company believes the acquisition is the first step towards transforming itself into a more diversified player.

August 03, 2021 / 09:58 AM IST
PI Industries: A sizeable entry into pharma

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While PI Industries (PIND) (CMP: Rs 3,316, M Cap: Rs 50,347 crore) posted a sequentially flattish results, its foray into pharma has turned out to be a new catalyst for growth. PIND has entered into an agreement with Ind-Swift Laboratories Limited (ISLL) for acquiring its Active Pharmaceutical Ingredients (API) division for a cash consideration at an enterprise value (EV) of Rs 1,530 crore. Operational execution in API opportunity a key watch The API deal, at an EV/EBITDA of 7.7x, is apparently attractive,...

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