📢 5 STEPS TOWARDS WEALTH 🚀 The Indian Stock Market Way
📊 PI Industries Q3 FY25 Results - Analysis & Insights 🔍
1️⃣ Consolidated Sales Growth 📈
Q3 FY25 Revenue: ₹19,008 million 📊 (+5.4% YoY) from ₹18,975 million in Q3 FY24.
9M FY25 Revenue: ₹61,907 million 📊 (+4.5% YoY) from ₹59,248 million in 9M FY24.
Key Driver: 🚜 Agro Chemicals growth.
Drag Factor: 💊 Pharma segment decline.
2️⃣ Segmental & Regional Sales Share & Growth 🌎
🌿 Agro Chemicals Segment (95%+ Revenue Contribution)
✅ Q3 FY25 Revenue: ₹18,381 million (+3.8% YoY) 📈
✅ 9M FY25 Revenue: ₹60,619 million (+6.7% YoY) 🚀
💊 Pharma Segment (5% Revenue Contribution)
❌ Q3 FY25 Revenue: ₹637 million (-50% YoY) 📉
❌ 9M FY25 Revenue: ₹1,301 million (-46% YoY) 📉
🌍 Regional Breakdown
🌏 Exports (CSM - Contract Manufacturing Services) ➝ 80%+ of revenues
🇮🇳 Domestic Agri Brands ➝ 15-20% of revenue
3️⃣ Profit Margins 💰
Q3 FY25 vs Q3 FY24
📉 EBITDA Margin: 26.1% vs 27.7% (-160 bps)
📉 Net Profit Margin: 19.6% vs 23.6% (-400 bps)
🔺 Reason: Higher input costs & weak Pharma performance 💊
9M FY25 vs 9M FY24
📈 EBITDA Margin: 27.0% vs 25.0% (+200 bps)
📉 Net Profit Margin: 21.5% vs 22.1% (-60 bps)
✅ Cost optimizations helped maintain profitability 🏆
4️⃣ Consolidated Profit Growth 💹
Q3 FY25
📉 PAT: ₹3,727 million (-17% YoY from ₹4,486 million)
📉 EPS: ₹24.55 vs ₹29.59 (-YoY decline)
9M FY25
📈 PAT: ₹13,297 million (+1.3% YoY from ₹13,120 million)
📈 EPS: ₹87.65 vs ₹86.49 ✅
5️⃣ Financial Ratios at CMP of ₹3,640 📊
Profitability Ratios 💸
🔹 ROE: ~13.5% ✅ (Moderate)
🔹 ROCE: ~15.2% 📉 (Slightly lower YoY)
Solvency Ratios 🏦
✅ Debt-to-Equity: 0.1x (Very low debt, strong balance sheet)
✅ Interest Coverage: 20x+ (Highly comfortable)
Liquidity Ratios 💧
✅ Current Ratio: 1.8x (Strong liquidity)
✅ Quick Ratio: 1.3x (Healthy short-term position)
Valuation Ratios 📊
📈 Trail & F_EPS: ~112 (Decreased from Q1fy25)
📈 Trail & F_P/E Ratio: ~32x (Near to FairValuations)
📈 EV/EBITDA: ~26x (Premium valuation)
6️⃣ Near-term & Long-term Outlook 🔮
Near-term (Next 2 Quarters) ⏳
✅ Agro Chemical Business remains strong 🚜
❌ Pharma Business faces challenges 💊
✅ Cost optimization measures in place 🏆
⚠ Raw material price fluctuations a risk 🌡
Long-term (2-3 Years) 📅
✅ Global demand for specialty chemicals remains strong 🌏
✅ Pharma turnaround could be a key catalyst 💊🔄
✅ Expansion plans & acquisitions for future growth 📈
⚠ Fair valuation (~32x P/E) but low growth may limit short-term upside 🚀💰
7️⃣ Key Takeaways 🏁
✔ Steady revenue growth (+5% YoY), led by Agro Chemicals 🌿
❌ Margins declined due to Pharma struggles 💊📉
📉 PAT declined YoY in Q3 but stable 9M performance 💹
✅ Strong balance sheet, low debt, but Low Current Growth 💰
⚖ Cautious near-term, positive long-term outlook 🔮
📢 Disclaimer & Disclosure Statement
Important Investor Advisory Notice
This research analysis is for informational purposes only and should not be considered as financial, investment, or legal advice. The information provided herein is based on publicly available financial reports, market data, and our analysis. Investors are advised to exercise caution and discretion before making any investment decisions.
