NSEI:PIIND

Stock Analysis Report

Executive Summary

PI Industries Limited operates as an agrochemical company in India and internationally.


Snowflake Analysis

Exceptional growth potential with flawless balance sheet.


Similar Companies

Share Price & News

How has PI Industries's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PIIND's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

8.9%

PIIND

-2.4%

IN Chemicals

-3.9%

IN Market


1 Year Return

11.9%

PIIND

-17.4%

IN Chemicals

-32.2%

IN Market

Return vs Industry: PIIND exceeded the Indian Chemicals industry which returned -14.6% over the past year.

Return vs Market: PIIND exceeded the Indian Market which returned -30.7% over the past year.


Shareholder returns

PIINDIndustryMarket
7 Day8.9%-2.4%-3.9%
30 Day-25.3%-23.2%-26.8%
90 Day-18.5%-21.2%-31.7%
1 Year12.3%11.9%-13.9%-17.4%-30.8%-32.2%
3 Year43.7%41.6%9.6%2.8%-19.5%-23.8%
5 Year72.7%68.6%58.3%44.7%-10.0%-14.9%

Price Volatility Vs. Market

How volatile is PI Industries's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is PI Industries undervalued compared to its fair value and its price relative to the market?

34.56x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PIIND (₹1177.8) is trading above our estimate of fair value (₹371.93)

Significantly Below Fair Value: PIIND is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PIIND is poor value based on its PE Ratio (34.6x) compared to the Chemicals industry average (7.7x).

PE vs Market: PIIND is poor value based on its PE Ratio (34.6x) compared to the Indian market (9.4x).


Price to Earnings Growth Ratio

PEG Ratio: PIIND is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: PIIND is overvalued based on its PB Ratio (6.6x) compared to the IN Chemicals industry average (0.8x).


Next Steps

Future Growth

How is PI Industries forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

24.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PIIND's forecast earnings growth (24.5% per year) is above the savings rate (6.5%).

Earnings vs Market: PIIND's earnings (24.5% per year) are forecast to grow faster than the Indian market (19.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PIIND's revenue (22% per year) is forecast to grow faster than the Indian market (8.8% per year).

High Growth Revenue: PIIND's revenue (22% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PIIND's Return on Equity is forecast to be high in 3 years time (21.9%)


Next Steps

Past Performance

How has PI Industries performed over the past 5 years?

9.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PIIND has high quality earnings.

Growing Profit Margin: PIIND's current net profit margins (14.2%) are lower than last year (14.8%).


Past Earnings Growth Analysis

Earnings Trend: PIIND's earnings have grown by 9.7% per year over the past 5 years.

Accelerating Growth: PIIND's earnings growth over the past year (18%) exceeds its 5-year average (9.7% per year).

Earnings vs Industry: PIIND earnings growth over the past year (18%) exceeded the Chemicals industry 10%.


Return on Equity

High ROE: PIIND's Return on Equity (19%) is considered low.


Next Steps

Financial Health

How is PI Industries's financial position?


Financial Position Analysis

Short Term Liabilities: PIIND's short term assets (₹19.0B) exceed its short term liabilities (₹11.3B).

Long Term Liabilities: PIIND's short term assets (₹19.0B) exceed its long term liabilities (₹548.0M).


Debt to Equity History and Analysis

Debt Level: PIIND's debt to equity ratio (0%) is considered satisfactory.

Reducing Debt: PIIND's debt to equity ratio has reduced from 13.8% to 0% over the past 5 years.

Debt Coverage: PIIND's debt is well covered by operating cash flow (545500%).

Interest Coverage: PIIND earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: PIIND has a high level of physical assets or inventory.

Debt Coverage by Assets: PIIND's debt is covered by short term assets (assets are 19026x debt).


Next Steps

Dividend

What is PI Industries's current dividend yield, its reliability and sustainability?

0.38%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PIIND's dividend (0.38%) isn’t notable compared to the bottom 25% of dividend payers in the Indian market (0.95%).

High Dividend: PIIND's dividend (0.38%) is low compared to the top 25% of dividend payers in the Indian market (4.06%).


Stability and Growth of Payments

Stable Dividend: PIIND is not paying a notable dividend for the Indian market, therefore no need to check if payments are stable.

Growing Dividend: PIIND is not paying a notable dividend for the Indian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: PIIND is not paying a notable dividend for the Indian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PIIND's dividend in 3 years as they are not forecast to pay a notable one for the Indian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.7yrs

Average management tenure


CEO

Raman Ramachandran (60yo)

0.58

Tenure

Dr. Raman Ramachandran, Ph.D, has been Chief Executive Officer and Managing Director of PI Industries Limited since September 9, 2019. Dr. Ramachandran serves as Head South Asia at BASF Catalysts LLC. Dr.  ...


Leadership Team

NamePositionTenureCompensationOwnership
Mayank Singhal
Executive Vice-Chairman & MD0.67yr₹106.39m23.19% 38.2b
Rajnish Sarna
Chief Investor Relations Officer7.42yrs₹54.95m0.091% 149.7m
Raman Ramachandran
MD, CEO & Director0.58yrno datano data
Devendra Ray
President & Head of Manufacturing Strategyno datano data0.0047% 7.8m
Subhash Anand
Chief Financial Officer2.5yrs₹19.12mno data
Atul Gupta
Senior VP & Head of Operationno datano data0.048% 78.6m
Samir Dhaga
Chief Information Officerno datano datano data
Naresh Kapoor
Compliance Officer & Company Secretaryno data₹6.03mno data
Vijay Naidu
Deputy General Manager of Business Developmentno datano datano data
Sankar Ramamurthy
Chief People Officerno datano datano data

0.7yrs

Average Tenure

50yo

Average Age

Experienced Management: PIIND's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Mayank Singhal
Executive Vice-Chairman & MD0.67yr₹106.39m23.19% 38.2b
Rajnish Sarna
Chief Investor Relations Officer7.42yrs₹54.95m0.091% 149.7m
Raman Ramachandran
MD, CEO & Director0.58yrno datano data
Ramni Nirula
Independent Non-Executive Director9.75yrs₹2.79mno data
Pravinbhai Laheri
Independent Non-Executive Director9.75yrs₹2.10mno data
Narayan Seshadri
Independent Non-Executive Chairman3.5yrs₹6.45m0.35% 577.4m
Salil Singhal
Chairman Emeritus3.75yrs₹57.98m28.16% 46.4b
Arvind Singhal
Non Executive Director3.5yrs₹1.95mno data
Tanjore Balganesh
Independent Director2.92yrs₹2.58mno data

3.5yrs

Average Tenure

66yo

Average Age

Experienced Board: PIIND's board of directors are considered experienced (3.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PIIND insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PI Industries Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PI Industries Limited
  • Ticker: PIIND
  • Exchange: NSEI
  • Founded: 1946
  • Industry: Diversified Chemicals
  • Sector: Materials
  • Market Cap: ₹164.673b
  • Shares outstanding: 138.11m
  • Website: https://www.piindustries.com

Location

  • PI Industries Limited
  • Vipul Square
  • 5th Floor
  • Gurugram
  • Haryana
  • 122009
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
523642BSE (Mumbai Stock Exchange)YesEquity SharesININRMay 2006
PIINDNSEI (National Stock Exchange of India)YesEquity SharesININRMay 2006

Biography

PI Industries Limited operates as an agrochemical company in India and internationally. The company offers agrochemicals, including insecticides, fungicides, and herbicides; specialty products; and generic molecules, such as Profenofos, Ethion, and Phorate primarily under the Nominee Gold, Osheen, Biovita, Roket, Keefun, Vibrant, Cosko, Elite, Kitazin, Humesol, and Fantom brand names, as well as chemical and active intermediates. It also provides research and development (R&D) services comprising target discovery, molecule design, library synthesis, lead optimization, biological evaluation, and route synthesis services; and custom synthesis and manufacturing solutions consisting of process R&D, analytical method development, synthesis of reference standards, structure elucidation and synthesis of impurities, physio-chemical studies and five-batch analysis under GLP conditions, scale-up studies, safety data generation, waste categorization and treatability studies, process/plant engineering, and large-scale commercial production. It sells its products through distributors/dealers and retail points. The company was formerly known as Mewar Oil & General Mills Ltd. PI Industries Limited was founded in 1946 and is based in Gurugram, India. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/03 13:16
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.