Key Points
While concerns around most chemical manufacturers stay elevated pertaining to inventory destocking, demand slowdown in developed countries, rise in China Exports, PI Industries with patented molecules and niche product range remains better placed compared to peers feel analysts..
The Q2 performance held testimony as the financial performance of PI Industries remained strong amidst favorable demand momentum while many peers saw pressure on the performance..
PI Industries reported 20% revenues growth with Earnings before interest tax depreciation and amortisation (Ebitda) growing 28% and net profit growth of 44% year on year..
PI continued to guide revenue growth of 18-20% YoY along with consistent margin improvement primarily driven by strong enquiries in CSM (Custom Synthesis Manufacturing) business and new launches in domestic segment..
Analysts at Jefferies India Pvt Ltd in a recent report said that our analysis of the Australian market that saw patent expiry in Calender Year 2021 indicates limited traction of generics with Kumiai's sales accelerating after patent expiry"..
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