Shares of PI Industries Ltd a rise of nearly 4% in its price on May 22, after it reported its Q4FY24 Results.

PI Industries Ltd reported a 32% increase in net profit to Rs 370 crore for the fourth quarter ending March 31, 2024.

The company’s revenue from operations rose 11.2% to Rs 1,741 crore compared to the same period in the previous fiscal year.

The earnings before interest, tax, depreciation, and amortisation (EBITDA) also increased by 29% to Rs 441.8 crore, with an EBITDA margin of 25.4% for the reporting quarter.

The company declared a final dividend of Rs 9 per share, subject to shareholder approval at the upcoming Annual General Meeting.

Including the interim dividend paid during the year, the total dividend for the year would be Rs 15 per equity share of Rs 1 each.

Overall 11% Year-on-Year (YoY) revenue growth. 9% growth in Agchem Exports mainly driven by volumes and new products.

Pharma contributed Exports revenue of Rs. 715 million i.e. approximately 5% of total Exports revenue growth.

Domestic revenues were subdued with reduction of approximately 5% Y-o-Y mainly due to volume drop of 6% driven by delayed and erratic spread of monsoon although favourable product mix and improved working capital management helped in containing the financial impact.

Biologicals products’ revenue increased by approximately 35% Y-o-Y. Gross Margin and EBITDA improved mainly on account of favorable product mix and operating leverage.

Overheads increase attributable to the newly acquired Pharma businesses (approximately 17%) and balance (approximately 21%) to scale-up of Exports and promotion expenses for the launch of the new products.

Cash flow from operating activities increased 15% to Rs. 8,798 million (Q4FY23 Rs. 7,621 million).

At 3:30 pm, the shares of PI Industries closed 2.93% higher at Rs 3,690.10 on NSE.