PI Industries recently introduced MELSA for Wheat farmers of North India for aiding weed management in Wheat.
MELSA is systemic, post emergence herbicide with superior performance across a broad spectrum of grass weed species. The innovative product belongs to the phenlypyrazolin chemistry and is globallydeveloped for use in cereal crops. MELSA has excellent control of Phalaris minor & Avena spp. and is safe to Wheat crop.
Rallis has come out with pretty robust numbers today: Sales up 17%,PAT up 38%.They say the performance from international markets has been robust.
Looks like we shall have another strong quarter for PII.Mahesh bhai has already put up pretty high expectations.
Coming to the stock price Mahesh bhai,do you feel the stock can re-rate further if performance stays robust?(90-100% EPS growth) Its been on a tear of late,but such strong growth & quality of earnings may lead to a further leg-up.What do you say?
Reading between the lines it seems Agri contributed 133 cr. while Csm slightly disappointed and contributed 230 cr…this is understandable as delivery schedules normally decide quarterly Csm revenue trend…debt reduction is a good news…
At cmp., pi is at best a hold…looking forward to concall commentary to be held tomorrow at 11…
The senior management team of ‘PI Industries’ will host a conference call for analysts and investors__to discuss the performance and opportunities going forward.The dial-in numbers are+91 22 3065 0122and+91 22 6629 0301.
Mahesh bhai,as you said,the numbers from PII were a tad disappointing.But the management has kept its guidance of around 1600cr. topline & 11.5% PAT margins for Fy14.Seems 215 & below would still be a good buying opportunity,given the high revenue visibility on CSM & also,exports looking up.Eagerly awaiting the Concall release & your views.
There is little downside to the stock based on the current results as also future guidance…However, upsides will also be capped unless some major trigger comes…It should remain rangebound for the time being. You are right, below 215 it might be great to add this co. but I doubt whether such valuation will come irrespective of any specific negative trigger…the best strategy will be to absorb profits and staying put in remaining quantities…When the second phase of jambusar commences production that will be key thing to monitor.
Hitesh has already shared his view post results and I more or less agree with him…Dhanuka is a Hold for now and a good buy at 160-165…Wait for the monsoon forecast due within two months…pure domestic agchem players are a good buy in bad phases of monsoons and good sell or hold in best phases of monsoon…
“PI is targeting 40 percent revenue growth in the financial year ending March 2014. This is driven by rapid growth in CSM exports and a relatively good domestic crop season” says a write up on Business excellence. http://www.bus-ex.com/article/pi-industries-0
PI Industries Q4 & FY2014 Earnings Conference Call
Thursday, May 22, 2014 at 04:00 pm IST
The management team of PI Industries â one of Indiaâs leading Agri-input and Custom Synthesis companies, will participate in a conference call for analysts and investors on Thursday, May 22, 2014 at 04:00 pm IST.
The call will commence with a brief management discussion on the Q4 & FY2014 results, followed by an interactive Question & Answer session.
Mr. Mayank Singhal, Managing Director & Group CEO and Mr. Rajnish Sarna, Executive Director, PI Industries Limited, will represent the management team on the conference call.
Details of the conference call are as follows:
Timing
04:00 pm IST on Thursday, May 22, 2014
Conference dial-in Primary number
+91 22 6746 8354/ +91 22 3938 1071
India Local access Number
6000 1221 (Accessible from all major carriers except BSNL/MTNL)
Yes…Results are below our expectations…evenother research houseslike edelweiss (394.9 cr. – 70.7 cr. – 41.1 cr.) and IDFC (421.1 cr. – 70.30 cr. – 40.80 cr.) were expecting much higher growth and profitability…only Dolat (367.4 cr. – 49.3 cr. – 31.4 cr.) was expecting muted performance…
Since press release is still not out we are not able to get hold of the breakup so lets wait for that…
Primafacie, the results are below expectations and unless its one-off (on topline front I am talking about) or management gives strong guidance for FY14, the stock should consolidate in the range of 206-245 before the start and stabilisation of second phase at Jambusar…however, lets wait for concall commentry and press release before putting final judgement…
Today’s concall commentry will be key monitorable.