PI Industries Q4 2024 Results: Net Profit up 32% to ₹370 crore

Tanushree Jaiswal 22nd May 2024 - 12:33 pm

Synopsis

Agro-chemicals maker PI Industries Ltd on Tuesday (May 21) reported a 31.7% year-on-year (YoY) jump in net profit at ₹369.5 crore for the fourth quarter that ended March 31, 2024.

Quarter Result Performance

PI Industries reported a net profit of ₹280.6 crore for the quarter, according to a regulatory filing. The company's revenue from operations grew by 11.2% to ₹1,741 crore, up from ₹1,565.6 crore in the same period last year.

At the operating level, EBITDA for the fourth quarter of this fiscal year experienced a 29% increase, reaching ₹441.8 crore, as opposed to ₹342.8 crore in the same period of the preceding fiscal year.

The EBITDA margin reached 25.4% in the reported quarter, a significant increase from the 21.9% recorded in the corresponding period of the prior fiscal year. In the reported quarter, the company's EBITDA margin improved by 3.5 percentage points, indicating a surge in its operational efficiency and profitability.

The company's board has proposed a final dividend of ₹9 per share, representing a 900% payout on the company's ₹1 face value equity shares for the fiscal year 2023-24. This dividend is subject to shareholder approval at the upcoming Annual General Meeting (AGM).

The company plans to pay a total dividend of ₹15 per equity share of ₹1 each for the year. This includes an interim dividend of ₹6 per share already paid earlier in the year. The remaining final dividend, subject to shareholder approval, will be credited or dispatched on or before September 20, 2024.

About PI Industries

PI Industries Ltd is a leading player in the agro-chemicals space having strong presence in both Domestic and Export markets. It has state-of-art facilities in Gujarat having integrated process development teams with in-house engineering capabilities.

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Tanushree Jaiswal

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