Buy Large Cap Agro Chemicals Stock For Higher Return, Sharekhan Retains Buy Call

Sharekhan has recommended investors to buy shares of Pesticides/Agro Chemicals sector stock, PI Industries Ltd with a target price of Rs 4200 apiece. It registered strong revenue growth of 24% y-o-y in CSM business led by volume growth and higher prices.

If you buy PI Industries shares now, you can get return of 28%. It declared a dividend of Rs 4.5 per share on February 14, 2023 and fixed 24 Feb, 2023 as record date. Check details below:

1. PI Industries Stock Performance & Return

The last trading price of the stock is Rs 3291.50 apiece on BSE. The stock's 52-week high is Rs 3698.50 apiece and 52-week low is Rs 2352.95 apiece, respectively.

Its market capitalisation is Rs 49,938.02 crore. It gave a return of 26% in last 1-year and 113% in last 3-years. It rallied 278% in last 5-years.

2. PI Industries Valuation

According to Sharekhan, "PI's strong balance sheet provides ample scope for organic and inorganic growth over the medium to long term. Hence, we maintain a Buy rating on PI Industries with an unchanged PT of Rs. 4,200. At CMP, stock trades at 31.7x its FY2024E EPS and 27.7x its FY2025E EPS."

3. PI Industries About

Incorporated in 1947, PI Industries focuses on developing complex chemistry solutions in agri-sciences with an integrated approach.

The company currently operates a strong infrastructure setup, consisting of three formulation facilities and fifteen multi-product plants under its four manufacturing facilities.

These state-ofthe-art facilities have integrated process development teams with in-house engineering capabilities.

Disclaimer

The stock has been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.