PI Industries Q3 Results Review - Strong Performance Despite Macro Headwinds: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.PI Industries Ltd. recorded a strong revenue growth in Q3 FY24 (up 18% YoY), led by healthy growth in the custom synthesis manufacturing business (up 13% YoY) and incremental revenue from the Pharma business, which was not there in Q3 FY23 (revenue mix ~7% in Q3 FY24 versus 3% in Q2 FY24). However, the domestic business continued to witness subdued demand (revenue down 6% YoY). Ebitda grew 33% YoY in Q3 FY24, but it included a one-time impact of a recovery of theft materials worth Rs 0.4 billion. We maintain our FY25/FY26 earning per share estimates and increase our FY24 earnings estimate to factor in the strong performance in Q3 FY24. We reiterate our 'Buy' rating on the stock with a target price of Rs 4,350..Click on the attachment to read the full report:.Stove Kraft Q3 Results Review - Coco Stores To Drive Both Topline And Margins: Nirmal Bang .DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

PI Industries Q3 Results Review - Strong Performance Despite Macro Headwinds: Motilal Oswal

Earnings beat our estimates.

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