Geojit Financial Services research report on PI Industries
PI Industries manufactures plant protection and specialty plant nutrient products and solutions under its agri-inputs business. It is also a leading custom synthesis and manufacturing (CSM) company in India, providing contract research and contract manufacturing services to global innovators. Standalone revenue increased 8.3% YoY to Rs. 2,131cr in Q2FY25, led by growth in exports. Exports grew 7.8% YoY to Rs. 1,761cr. Agchem exports increased ~10% due to volume growth and ~42% YoY growth in new products.
Outlook
Therefore, we reiterate our BUY rating on the stock, with a revised target price of Rs. 4,480, based on 35x FY26E adjusted EPS.
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