with a market valuation of 49,938.02 Crore, PI Industries Limited is a Large Cap company operating in Commodity industry. The firm has built leading brands over the past 75 years, is networked to over 70,000 retail locations across India, and is widely renowned for its technical prowess in chemistry and engineering related services. The corporation declared a 450% dividend to its eligible shareholders along with its Q3 earnings.
PI Industries Dividend
The company said in a stock exchange filing that the board of directors has “declared an interim dividend at the rate of Rs. 4.5 per share (i.e. 450%) on the equity shares of the company of face value of Rs. 1/- each for the financial year 2022-23″. and the same will be paid on or before March 15, 2023. In accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has declared the members eligible to receive Interim Dividend for the financial year 2022-23 February 24, 2023 has been fixed as the record date for the purpose of determination.”
PI Industries Q3 Earnings
In Q3FY23, PI Industries reported net sales of Rs. 1,613.20 crore on a consolidated basis, up 18.94% from Rs. 1,356.30 crore in Q3FY22. Company’s net expense reached 1263.7 cr in Q3FY23 as compared to Rs. 111,3.40 Cr reported in the year-ago quarter. PI Industries said in its earnings report that exports witnessed a growth of 23% due to volume growth of ~9% and ~14% coming from price, currency and favorable product mix, while adverse weather conditions Domestic growth was at a rate of 2%. Coupled with the high channel list.
Company’s EBITDA stood at 415.6 crore in the quarter ended December 2022, an increase of 40% 296.80 crore was recorded in the quarter ending December 2021. PI Industries’ EBITDA margin improved by 388 bps to 26% from 22% in the year-ago quarter, the company said, adding that its EBITDA margin improved due to favorable product mix and operating leverage.
Q3FY23 net profit reached 351.80 Cr, up 58% YoY from 222.60 Cr in Q3FY22, increase in PAT due to EBITDA growth despite higher depreciation, PI Industries said. The EPS of PI Industries reached against 23.20 in Q3FY23 14.67 in Q3FY22. The outlook for PI Industries remains positive as it is confident of delivering 20%+ revenue growth with continued improvement in margins and returns.
PI Industries Shareholding Pattern
During Q3FY23, PI Industries registered Promoter holding 46.09%, FII holding 18.60%, DII holding 24.24%, Government holding 0.15%, Public holding 10.90% and Others holding 0.03. As per Trendline data, in the December 2022 quarter, promoter holding remained stable at 46.09%, while FII/FPI holding increased from 16.72% to 18.60%. The number of FII/FPI investors in PI Industries increased from 639 to 685, while mutual fund holding decreased from 16.39% to 16.37% in Q3FY23. In Q3FY23, institutional investors increased their holding from 42.88% to 43.00%.
pi industries stock price
Shares of PI Industries Limited closed on the NSE on Friday down 2.58% from its previous close of 3,290 3,377.05. Shares hit 52-week high at 3,698.45 (09-Nov-2022) and 52-week low 2,351.30 on (07-Mar-2022).
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