PI Industries surges 4% after posting strong Q4 results, revenue up 11% YoY

Shares of PI Industries gained as much as 3.62% to an intraday high of ₹3,714.9 apiece on the NSE.

The company declared its results for the fourth quarter of FY24 and the entire financial year on Tuesday, May 21. The company also announced a dividend payout for its shareholders.

In the March quarter of FY24 the company’s consolidated revenue from operations grew more than 11% to ₹1,741 crore against ₹1,565.6 crore in the corresponding quarter of the previous fiscal year. Sequentially, the company’s revenue from operations in Q4FY24 dropped more than 8% from ₹1,897.5 crore in the December quarter.

The company’s revenue from operations for FY24 grew by 18% to ₹7,665.8 crore compared to ₹6,492 crore in FY23.

In the quarter ended March of FY24, the company’s net profit grew 31.68% to ₹369.5 crore against ₹280.6 crore on a year-on-year basis. However, on a quarter—on-quarter (QoQ) basis the company’s net profit fell more than 17% from ₹448.6 crore in the third quarter of FY24.

The pesticides and agrochemicals maker’s net profit for FY24 grew more than 36% to ₹1,681.5 crore against ₹1,229.5 crore in the preceding fiscal year.

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the fourth quarter of FY24 grew 29% to ₹444.2 crore compared to ₹344 crore in the corresponding quarter of the previous fiscal year. The company’s EBITDA for FY24 grew nearly 31% to ₹2,025.2 crore compared to ₹1,548.9 crore in FY23.

Final dividend of ₹9 per share declared

The company’s board of directors also recommended a final dividend of ₹9 per share of a face value of ₹1 each for the financial year 2023-24. The company has fixed August 20 as the record date for the payment of dividend. The dividend payout is subject to the approval at the forthcoming Annual General Meeting (AGM).

Shares of PI Industries were trading 3.04% higher at ₹3,694 apiece on the NSE at 3:00 pm.