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Axis Securities Report
PI Industries Ltd. remains focused on exploring growth opportunities while enhancing profitability through an improved product mix and disciplined working capital management.
Revenue growth is expected to accelerate as newer products and the Pharma business contributes more significantly. Estimates have not been revised at this stage.
The stock continues to be valued at 30 times FY26E, translating into a target price of Rs 4,980 per share, implying an upside of 6% from the current market price.
However, given the recent rally in the stock price, the rating has been changed to Hold.
Financial estimates and the rating will be revisited post the Q2 FY25 results.
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Also Read: P&G Hygiene - Focusing On Sustainable Growth; Rich Valuation Limits Upside: Motilal Oswal
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