External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>Headwinds in CSM Business to continue in Near-Term: PI’s CSM business showed a modest 2% YoY growth, with volumes increasing by 5% YoY and new products growing by 40% YoY in Q3.</li><li>However, due to declining demand, the management anticipates a recovery in H2CY25, expecting high inventories in certain products to decrease by that time.</li><li>Accordingly, the management has revised its revenue growth forecast for FY25, lowering it from high single-digit to low single-digit growth.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Headwinds in CSM Business to continue in Near-Term: PI’s CSM business showed a modest 2% YoY growth, with volumes increasing by 5% YoY and new products growing by 40% YoY in Q3.However, due to declining demand, the management anticipates a recovery in H2CY25, expecting high inventories in certain products to decrease by that time.Accordingly, the management has revised its revenue growth forecast for FY25, lowering it from high single-digit to low single-digit growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Recovery expected in the domestic segment, exports may soften: During the quarter, PI witnessed a 6% YoY reduction in the domestic segment.</li><li>However, given the positives on reservoirs and traction in new products, it expects double-digit growth in domestic revenue during H2.</li><li>On the other hand, while the company reported a 12% growth in agchem exports, it anticipates some softness in the agchem export segment due to continued global industry challenges and resulting uncertainties. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Recovery expected in the domestic segment, exports may soften: During the quarter, PI witnessed a 6% YoY reduction in the domestic segment.However, given the positives on reservoirs and traction in new products, it expects double-digit growth in domestic revenue during H2.On the other hand, while the company reported a 12% growth in agchem exports, it anticipates some softness in the agchem export segment due to continued global industry challenges and resulting uncertainties. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PI Industries Ltd - Resilient Performance Amidst Global Uncertainties

<ul><li>PI Industries Ltd. (PI) delivered a strong performance in FY24, marked by consistent growth in revenue and margins.</li><li>The company reported an 18% increase in revenue from operations and a 37% YoY growth in PAT, despite facing global challenges.</li><li>Agchem exports rose by 19%, primarily driven by higher volumes and the introduction of new products for export, which helped offset a 5% decline in domestic revenue due to a 6% drop in volumes, attributed to delayed and unpredictable monsoon patterns.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PI Industries Ltd. (PI) delivered a strong performance in FY24, marked by consistent growth in revenue and margins.The company reported an 18% increase in revenue from operations and a 37% YoY growth in PAT, despite facing global challenges.Agchem exports rose by 19%, primarily driven by higher volumes and the introduction of new products for export, which helped offset a 5% decline in domestic revenue due to a 6% drop in volumes, attributed to delayed and unpredictable monsoon patterns.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PI Industries Ltd. - Another Year of Robust Performance

<ul><li>The company delivered a 14% growth in Agchem exports, driven by higher volumes and a 24% YoY increase in new products.</li><li>In Q1, the company commercialized two new products and plans to aggressively launch 8-10 new CSM products in FY25.</li><li>Management noted that capacity expansion is on track, with continued momentum in new enquiries and conversions.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The company delivered a 14% growth in Agchem exports, driven by higher volumes and a 24% YoY increase in new products.In Q1, the company commercialized two new products and plans to aggressively launch 8-10 new CSM products in FY25.Management noted that capacity expansion is on track, with continued momentum in new enquiries and conversions.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PI Industries Ltd - New Products and CSM Boost Export Growth and Margins

<ul><li>New Products to drive growth: During the year over 70% of the exports growth came from the new products.</li><li>The management has highlighted that 1/3rd of the new products would be from the Non-Agchem basket with end-user segments such as electronic chemicals, semiconductors, performance chemicals and advance polymers etc.</li><li>Revenue share from new products was ~25% in FY24 and the management expects it to grow to ~30%-35% over the next three years, which will be margin accretive.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

New Products to drive growth: During the year over 70% of the exports growth came from the new products.The management has highlighted that 1/3rd of the new products would be from the Non-Agchem basket with end-user segments such as electronic chemicals, semiconductors, performance chemicals and advance polymers etc.Revenue share from new products was ~25% in FY24 and the management expects it to grow to ~30%-35% over the next three years, which will be margin accretive.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

PI Industries Limited manufactures agricultural and fine chemicals, and polymers. The Company produces fine chemicals; crop protection, plant nutrients, and seeds; and engineering plastics for use in the automobile, electrical, and home appliances industries.

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Pi Industries (PI IN)

PI Industries Ltd - Modest CSM Growth

Headwinds in CSM Business to continue in Near-Term: PI’s CSM business showed a modest 2% YoY growth, with volumes increasing by 5% YoY and new...

Axis Direct

PI Industries Ltd - Resilient Performance Amidst Global Uncertainties

Recovery expected in the domestic segment, exports may soften: During the quarter, PI witnessed a 6% YoY reduction in the domestic segment.

Axis Direct

PI Industries Ltd. - Another Year of Robust Performance

The company reported an 18% increase in revenue from operations and a 37% YoY growth in PAT, despite facing global challenges.

Axis Direct

PI Industries Ltd - New Products and CSM Boost Export Growth and Margins

The company delivered a 14% growth in Agchem exports, driven by higher volumes and a 24% YoY increase in new products. In Q1, the company...

Axis Direct

PI Industries Ltd - Strong Outlook...

Revenue share from new products was ~25% in FY24 and the management expects it to grow to ~30%-35% over the next three years, which will be margin...

Axis Direct

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