After PI Industries’ tepid Q4, focus on pharma biz contribution
SummaryGoing ahead, PI Industries sees healthy demand and has guided for a revenue growth of 18-20% per annum.
Chennai: PI Industries Ltd’s financial performance for the three months ending March (Q4FY23) was a bit dull with the results missing estimates. Consolidated revenues increased by 12% year-on-year to ₹1,565 crore. Growth was driven by custom synthesis manufacturing (CSM) exports business, which contributes about 80% of the company’s revenues. Exports grew by 15% led by price, currency, and favourable product mix. However, volumes fell by 2%. The domestic business contributes PI Industries’ remaining revenues and put up a weak show in Q4 due to adverse weather.