Both domestic as well as export markets contributed to strong results from PI Industries.
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The company’s EBITDA increased by 49 percent to Rs 433 crore in September quarter while margin improved 200 basis points to 24 percent from 22 percent due to a favourable product mix and operating leverage.
PI Industries witnessed a 29 percent growth in exports on a higher base, with a volume growth of 25 percent. The company also saw a 36 percent growth in the domestic market, with a volume growth of 31 percent.
With Rs 2,321 crore of surplus cash, the company continues to identify value-accretive inorganic growth opportunities across the market.
Shares of PI Industries are trading 10 percent higher at Rs 3,623.