Pidilite Industries Q1 Results Highlights: Net Profit Jumps 21% to ₹571 Cr

Pidilite Industries reported a consolidated net profit of ₹571 crore for the June quarter, reflecting a 21% increase. The company's net sales reached ₹3,384 crore, a 4% rise from the previous year. Additionally, earnings before interest, depreciation, tax, and amortization (EBIDTA), excluding non-operating income, were ₹813 crore, showing a 15% growth.

Pidilite Industries Q1 Results Highlights

Pidilite Industries announced on August 7 that its consolidated net profit for the June quarter reached ₹571 crore, marking a 21% increase from ₹474 crore in the same period last year. 

The company's net sales amounted to ₹3,384 crore, representing a 4% rise from ₹3,275 crore in the corresponding quarter of the previous year, as detailed in their regulatory filing. 

Pidilite's consumer business revenue grew by 3% from the previous year, reaching ₹2,740 crore. The industrial segment reported a year-on-year revenue increase of 7%, amounting to ₹725.58 crore.  

Earnings before interest, depreciation, tax, and amortization (EBIDTA), excluding non-operating income, stood at ₹813 crore, which is a 15% growth compared to the same quarter the previous year.

At 11:00 AM IST on the BSE, shares of Pidilite Industries had risen by 52.20%, trading at ₹3106.20 per share, ahead of the earnings announcement.

Pidilite Industries Management Commentary

Bharat Puri, Managing Director of Pidilite Industries Ltd, commented, "Despite facing challenging economic conditions due to election-related impacts and severe heat waves in many parts of the country, we achieved robust UVG and healthy profitability this quarter."

He also stated, "With a healthy monsoon and the upcoming festival season, we are optimistic about market demand and our ability to sustain strong growth. We will continue to invest in growth initiatives and building a resilient supply chain."

About Pidilite Industries

Pidilite Industries Ltd is a chemical company specializing in the production and distribution of adhesives and other chemical products. Their offerings include adhesive technologies, waterproofing solutions, wood finishes and paint, automotive solutions, technical textiles, tile adhesives and grouts, as well as mechanical, electrical, and plumbing solutions. Their services include waterproofing.

The company markets its products under various brands such as Fevicryl, Dr. Fixit, Fevicol, Fevicol MR, Fevikwik, Fevistik, and M-Seal. These products are widely used in industries like leather, footwear adhesives, and textile and paper chemicals. Pidilite operates in countries including Sri Lanka, Bangladesh, the UAE, Egypt, Kenya, Ethiopia, Thailand, Brazil, Singapore, and the US. The company is headquartered in Mumbai, Maharashtra, India.