Lower liquidation of stock, inventory build-up, higher sales returns and weak export demand likely to impact December quarter earnings. However, price hike-led growth, increased sowing acreage and remunerative prices expected to help in 2023.
PI Industries has maintained healthy growth momentum in its Q3 numbers with an 8% YoY increase in domestic revenues. With its plan to expand the business and launch new products in the market, MC Pro expects revenue growth to be healthy in FY23. Here’s why you should add the stock to your portfolio.
Capital expenditure will likely remain the focus of the hour given the government’s reluctance to blow the coffers to provide direct support to consumers, who have been hit hard by the vagaries of the pandemic.
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.
In the near to medium term, inorganic opportunity for PI Industries is the key trigger to keep track of
Moneycontrol’s Sakshi Batra does a 3-Point Analysis of the Q3 numbers and outlook on the company.
Nirmal Bang is bullish on PI Industries (PIIL) and has recommended buy rating on the stock with a price target of Rs 154, in its May 28, 2013 research report.