Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Anand Rathi's research report on PI Industries
PI Industries is one of India’s fastest-growing, globally-integrated, highly-innovative agri-science-solutions companies. We believe Indian companies are attractively placed due to lower labour and manufacturing costs, strong R&D backup and good relations with global manufacturers/innovators, which would eventually support growth of domestic Contract Research and Manufacturing Services (CRAMS)players.
Outlook
The stock traded at an average24x over FY11-17.It was re-rated from FY18 mainly supported byCSM business picking up well. For the last six years, it has been trading at an average 41x P/E. We value the company at 35x FY26e EPS (a ~15% discount to the last six years’ trading multiple) with a TP of Rs4,600, considering its foray into pharma, recovery in the domestic market and strong growth in itsCSM business.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!