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PI Industries Restricted – Superior Enterprise Mannequin
PI was arrange in 1946 as an edible oil refinery by the late Mr. P P Singhal. The corporate later entered the agrochemical formulations enterprise. Within the mid-Nineties, PI diversified into CSM exports for international agrochemical innovator firms. PI at present operates within the home agricultural inputs and CSM export segments.
It’s a main participant within the home agricultural inputs sector, primarily dealing in agrochemicals and plant vitamins. Within the CSM exports section, its enterprise pursuits embrace dealing in customized synthesis and contract manufacturing of chemical compounds, which constitutes techno-commercial analysis of chemical processes, course of improvement, lab and pilot scale-up, in addition to industrial manufacturing.
Valuation:
We imagine PIIND is well-placed for future progress given clear income visibility within the CSM section and powerful home formulation enterprise. The corporate can also be strategically growing its capabilities that are translating into improved asset turns and better progress within the prime line. Therefore, we advocate a BUY score within the inventory with a goal worth (TP) of Rs.3850, 55x FY22E EPS.
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