Buy PI Industries, target price Rs 2611: Motilal Oswal

Motilal Oswal has buy call on PI Industries with a target price of Rs 2611. The current market price of PI Industries Ltd. is Rs 2317.55 .

PI Industries Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 35173.24 Crore) operating in Pesticides/Agro Chemicals sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1157.70 Crore, up 9.21 % from last quarter Sales of Rs 1060.10 Crore and up 27.58 % from last year same quarter Sales of Rs 907.40 Crore Company reported net profit after tax of Rs 217.70 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 46.8 per cent stake in the company as of June 30, 2020, while FIIs held 13.8 per cent, DIIs 22 per cent and public and others 17.5 per cent.