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Motilal Oswal Report
PI Industries Ltd. reported a strong Q3 FY21 performance, led by a 40%/26% YoY growth in Custom Synthesis and Manufacturing /Domestic business.
Ebitda growth of 48% YoY (on a high base of last year) was on the back of gross margin expansion and operating leverage.
Revenue for domestic agrochemicals grew 26% YoY (to Rs 2.6 billion), supported by -
- Isagro's sales, and
- good traction from brands like Nominee Gold, Osheen, Awkira (wheat herbicide) and Londax Power (Rice herbicide).
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