On November 5, the stock market is witnessing a significant surge; however, shares of PI Industries have plummeted by more than 14%. This decline in the agrochemical company’s stock follows the release of its September-quarter (Q2) results. PI Industries shares are currently trading at Rs 1,871, having touched a new 52-week low.
The stock opened at Rs 2,057 and fell to a low of Rs 1,791. A heavy sell-off was observed following the company’s weak Q2 performance.
Weak Q2 Results
The company’s net profit fell by 70.1% year-on-year (YoY) to Rs 122 crore, down from Rs 409 crore in the same quarter last year.
Revenue from operations (top line) declined by 9.1% YoY, dropping from Rs 1,872 crore to Rs 1,702 crore.
On the operating front, EBITDA fell by 57%—from Rs 541.3 crore to Rs 232.7 crore.
The company’s EBITDA margin dropped significantly from 28.9% in the same quarter last year to 13.7% in Q2, reflecting intense pressure on operating profitability.
Persistent Decline in Shares
PI Industries shares have shown a consistent downward trend over various timeframes. According to BSE data, the stock has fallen by 6.72% over the past week and by 11.08% over the last month. This decline has been even more pronounced over a longer period. The share price has fallen by 30.08% over the last three months and by 34.62% over the last six months. On an annual basis, shares of PI Industries have declined by 46.56%, while the stock is down 56.60% over a two-year period and 43.60% over a three-year period.
(Disclaimer: The information provided here regarding shares does not constitute investment advice. Jagran Business does not offer investment advice. Investments in the stock market are subject to market risks; therefore, please consult a certified investment advisor before making any investments.)
