PI Industries shares recover from lows after key customer delivers strong results

PI Industries shares were off their day’s low after one of its biggest customers, Japan-based Kumiai Chemical Industries, reported its first quarter earnings.Kumiai’s March quarter results were better than Steet expectations. Its sales gained 10%. Its operating income too witnessed a surge of 36% and its profit jumped 61% in comparison to the previous year.

Kumiai maintained its outlook for 2025 of revenue declining 1%, operating income likely to fall 8% and profit 20%.

On another note, last month, PI Industries reported a weak set of numbers for the December quarter, with its net profit, revenue and EBITDA falling short of Street estimates.Its revenue increased marginally to ₹1,900.8 crore against the previous year’s ₹1,897.5 crore and missed estimates by 2%.

The company’s EBITDA of ₹512 crore was 8% lower than the previous year’s ₹553.6 crore. Its margin contracted to 26.9% from the previous fiscal’s 29.2%.

PI Industries shares were 8.7% off their day’s low after the Kumiai results came in. However, the stock later pared its gains and was down 2.33% at ₹3,179.7 apiece at 1.40 pm on Friday, March 7. It has declined 10.3% in the past month and 31% in the last six months.

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