PI Industries Share Price: The share of P I Industries Ltd (NSE: PIIND) witnessed heavy selling pressure on Thursday, November 14. In early trade, the stock fell by 9 percent to Rs 4,045.85 within 5 days.
The company has sharply cut its revenue growth forecast for FY25 amid the challenges facing the industry. After this, selling is being seen by investors today.
The company’s share has gained about 20.81 percent so far this year.
P I Industries Ltd operates in the agrochemical sector. At present, this sector is facing challenges at the global level. The company has therefore reduced its revenue growth projection for FY25.
The company had earlier projected its revenue growth to be 15 percent, but now it has revised it to high single digits.
It is also worth noting that P I Industries Ltd has cut its revenue growth forecast for the second time during the current financial year.
The company initially predicted 18% to 20% revenue growth for the FY25. This was then lowered first to 15% and now to single digits.
Mayank Singhal, Vice Chairman and Managing Director of the company said that the agrochemical sector has faced very challenging conditions globally, and its growth rate is negative.
This situation is likely to continue on the global market until next year. Given this, they have revised the growth forecast.
In the September quarter, P I Industries Ltd’s net profit grew 5.8 percent year-on-year to Rs 508.2 crore from Rs 480.5 crore in the same quarter of the previous fiscal.
The revenue growth was 5 % YoY to 2,221 crore rupees from 2,116.9 crore rupees compared to the same quarter in the previous fiscal.
Quick Fact
| Company name | PI Industries |
|---|---|
| Sector | Agrochemical |
| Stock performance (5 days) | Fell 9% on November 14 |
| Stock price | ₹4,250 (-4.41%) |
| Revenue forecast (FY25) | Revised to high single-digit growth |
| Previous revenue forecast | Initially 18-20%; lowered to 15%; now high single digits |
| FY25 revenue forecast cut | 2nd time for the financial year |
| September quarter revenue growth | 5% YoY |
| September quarter revenue | ₹2,221 crore |
| September quarter net profit growth | 5.8% YoY |
| September quarter net profit | ₹508.2 crore |
| Year-to-date stock gain | Approximately 22% |
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