PI Industries is under pressure in Wednesday's trade, after it reported a disappointing March quarter, with profit and operating margins falling sharply as weak export demand and softness in the domestic market dragged performance below Street expectations.
PI Industries' shares dipped lower to nearly 8%.
Of the 27 analysts that track this stock, seven have a 'buy' call, 11 have a 'hold' call, and nine have a 'sell' call on the stock.
Add image caption here
Consolidated net profit dropped 39.4% year-on-year to Rs 200 crore, compared with Rs 331 crore a year ago. Revenue declined 12.4% to Rs 1,565 crore from Rs 1,787 crore, while EBITDA fell 26.1% to Rs 337 crore.
The EBITDA margin contracted to 21.5% from 25.5% a year earlier, significantly below the company's earlier guidance of 25% to 27%. The board recommended a final dividend of Rs 10 per share. EBITDA came in about 15% below analyst estimates, marking the seventh time in the last nine quarters that the company has missed Street expectations.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.