Pick of the Week: PI INDUSTRIES

1. PI Industries Ltd.
 PI Industries Ltd (PI) was incorporated in 1947 (as Mewar Oil & General Mills Ltd.) with its registered office in the
lake city of Udaipur, Rajasthan. The Corporate office is located in Gurgaon (Haryana), with the R&D set up at
Udaipur.
 PI Industries currently operates three formulation and two manufacturing facilities as well as five multi product
plants under its three business units across Gujarat in (Panoli and Jambusar) and Jammu . These state-of-art
facilities have integrated process development teams with in-house engineering capabilities.
 Agri inputs offering plant protection products, and specialty plant nutrient products and solutions. PI has a
strong rural reach and brand equity with millions of Indian farmers duly backed by a robust pipeline of products,
for sustained growth in the sector. Custom Synthesis & Manufacturing for contract research and production of
agro chemicals, intermediates and other niche fine chemicals for global innovators. This business backed with a
strong R&D support works to develop and commercialize products based on newly discovered chemistries with
reputed MNC innovators.
 This business is primarily focused on process research for customers, as well as customized manufacturing for
them. Over the years, PI has built for its businesses an enviable reputation for integrity, straight-forward and just
dealings for its innovative approach.
 Technical Outlook
 Since Mid-2013 to April 2015, it had risen substantially, thereafter it went into sideways. Recent
consolidation can be treated as digesting previous gain and gathering steam for further up move.
 Stock is gathering strength at lower level as there are various technical dimension which support the view for
further upside move ahead. First price had corrected to multiyear – multi points horizontal support line. At
lower level bolstering volume has been observed which indicate renewed energy developing after
consolidation phase.
 From Candlestick perspective, it had formed Bullish Engulfing Pattern on weekly chart which denotes first
sign of bulls presence. Coming to further lower time frame, Daily Chart, it had broken its downward sloping
trendline which born in Aug 2015. Looking in broader sense, it has given breakout on upside in Descending
Triangle.
 Momentum oscillator weekly RSI reading comes at 40 level which is considered as lower band of bullish zone.
Recently it has risen above its signal line on upper side, which represents momentum in stock is picking up.
 Based on above technical evidences and dimension from different perspective, we anticipate further move
for higher side.
Company PIIND
Recommendation Buy
Sector : Agrochemicals.
CMP : 663 & Upto 650
Price Potential : 750
Stop Loss (Closing Basis): 620
Mkt Cap (Rs. Cr.): 9,105
TTM EPS (Rs.) 19.55
TTM Sales (Rs. Cr.) 2,037
BVPS (Rs.) 73.35
Reserves (Rs. Cr.) 992
P/BV 9.05
PE 33.96
Bloomberg Code : PI:IN
Reuters Code : PIIL.NS
TW = Twelve Months
TTM= Trailing 12 months
SEBI Registered – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Pick of the Week: PI Industries Ltd.
02nd Jan, 2016
www.choiceindia.com *Please Refer Disclaimer on Website

2. Pick of the Week: PI Industries Ltd.
02nd Jan, 2016
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual FundsSEBI Registered – Research Analyst Equities I Commodities I Currencies I Mutual Funds
This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of
the information contained herein is your responsibility alone and Choice Broking its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in
checking the correctness and authenticity of the information contained in this recommendation, but Choice Broking or any of its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any
person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies Aprilket psychology, price patterns and volume levels. It is used to forecast future price
and Aprilket movements. Technical analysis is complementary to fundamental analysis and news sources. The recommendations issued herewith might be contrary to recommendations issued by Choice Broking in the company research undertaken as
the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking
makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available information at the time of publication and are
subject to change without notice. The information and any disclosures provided herein are in sumAprily form and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading
purposes. The recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the recommendations may be subject to change. The information and any disclosures provided
herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or
sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there
is no guarantee against the loss of your entire investment.
POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.
Disclaimer
Contact Us
Kunal Pamar (Research Associate)
kunal.pamar@choiceindia.com
PERFORMANCE TRACKER
www.choiceindia.comcustomercare@choiceindia.com
Kapil Shah(Research Associate)
kapil.shah@choiceindia.com
Amit Pathania (Research Associate)
amit.pathania@choiceindia.com
Vikash Chaudhri (Research Associate)
vikas.chaudhari@choiceindia.com
Kunal Parmar
Digitally signed by Kunal Parmar
DN: cn=Kunal Parmar, o=Choice Equity Broking Pvt Ltd., ou=Research Dept,
email=kunal.parmar@choiceindia.com, c=IN
Date: 2016.01.02 16:32:44 +05'30'