PI INDUSTRIES
PI Industries Ltd is engaged in the business of- Agri inputs, Fine Chemicals and (CRAMS) Contract Research and Manufacturing Services), Polymers and Engineering Services. The company is the market leader in introducing granular formulations in India and also are the largest sellers in that segment. Some of the generic molecules they are best known for are Profenofos, Ethion and Phorate. The company’s infrastructure consists of R&D Lab with more than 200 people including 150 Process Chemists, 50 Analytical Chemists with other supporting staff, Kilo Lab for distillation facilities and solid handling facilities & Pilot Plant for unit processes like crystallization, filtration, vacuum distillation, continuous distillation, evaporation etc.
The CSR philosophy of PI Industries is caring, sharing and growing to create equity in society and also to ensure the economic growth of the company is socially and environmentally sustainable. The company respects the interests of and be responsive towards all stakeholders, especially those who are disadvantaged, vulnerable and marginalized. PI have a strong infrastructure set-up consisting of 5 formulation facilities as well as 13 multi-product plants under its 4 manufacturing locations.
PI Industries signed an agreement to in-license 2 new products for farm and PPM segment in the FY19 – 20. Also, the company made an entry into Sugarcane Crop Protection market with the launch of COSKO and acquired Isagro Asia Agrochemicals Private Ltd, turned around with a 10% growth YoY. The company have a non-conflicting business model built on end-to-end partnerships with global innovators and comprehensive solutions via partnerships.
The company did take a lot of initiative during the pandemic which includes awareness on health and safety, provision of food, provide a packaged meal to poor people and migrant labourers around the factory in Gujarat, procure comfortable, a biodegradable mask for its employees free of cost, Provided livelihood opportunity to rural women by procuring more than 10000 masks from them and also to meet the urgent requirement of hand sanitisers, PI Industries manufactured sanitisers for free distribution.
The Board of directors recommended a final dividend of Rs. 2.00 per equity share for the year ending on 31st March 2021. PI Industries got a 7.98% sequential decline in consolidated profit against the previous quarter while the revenue grew by 3.01% against the December quarter. Moreover, PBT fell by 15.67% QoQ gross profit margin grew by 3.35% QoQ. Also, the Earning per share fell by 6.78% against the previous quarter and assets showed a decline of 0.31%.
The Q4 results of PI Industries were middling but the initiatives that the company took during the pandemic were commendable.
