Chemicals & Petrochemicals
Pidilite Industries is a Specialty Chemicals company with the stock ticker PIDILITIND. It has a market capitalization of Rs. 139,938.7 Crores. The company, along with its subsidiaries, is involved in the manufacture and sale of consumer and specialty chemicals both in India and internationally.
Pidilite operates primarily in two segments:
Branded Consumer & Bazaar: This segment provides a range of products including adhesives, sealants, art and craft materials, as well as construction and paint chemicals. These products cater to a diverse audience that includes carpenters, painters, plumbers, mechanics, households, students, and offices.
Business to Business: This segment supplies industrial adhesives and resins, construction chemicals, organic pigments, and pigment preparations. These products are utilized in various industries such as packaging, joineries, textiles, paints, printing inks, paper, and leather.
The company sells its products under well-known brands including Fevicol, Dr. Fixit, Fevikwik, M-Seal, and many others. Founded in 1959, Pidilite is headquartered in Mumbai, India.
In terms of financial performance, Pidilite Industries recorded a trailing 12-month revenue of Rs. 13,116.7 Crores and made a profit of Rs. 1,972.9 Crores in the past four quarters. The company has seen a significant revenue growth of 35.3% over the past three years.
Pidilite also distributes dividends to its investors, with a dividend yield of 0.94% per year. In the last 12 months, it returned a Rs. 27 dividend per share. However, it is noteworthy that the company diluted its shareholders by 0.1% in the past three years.
Valuation | |
---|---|
Market Cap | 1.55 LCr |
Price/Earnings (Trailing) | 78.4 |
Price/Sales (Trailing) | 11.79 |
EV/EBITDA | 49.88 |
Price/Free Cashflow | 70.19 |
MarketCap/EBT | 57.78 |
Fundamentals | |
---|---|
Revenue (TTM) | 13.12 kCr |
Rev. Growth (Yr) | 8.14% |
Rev. Growth (Qtr) | 4.03% |
Earnings (TTM) | 1.97 kCr |
Earnings Growth (Yr) | 9.03% |
Earnings Growth (Qtr) | 3.11% |
Profitability | |
---|---|
Operating Margin | 20.96% |
EBT Margin | 20.41% |
Return on Equity | 22.15% |
Return on Assets | 15.47% |
Free Cashflow Yield | 1.42% |
Momentum: Stock price has a strong positive momentum. Stock is up 5.5% in last 30 days.
Technicals: Bullish SharesGuru indicator.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Balance Sheet: Strong Balance Sheet.
Smart Money: Smart money has been increasing their position in the stock.
Size: It is among the top 200 market size companies of india.
Profitability: Recent profitability of 15% is a good sign.
No major cons observed.
Comprehensive comparison against sector averages
PIDILITIND metrics compared to Chemicals
Category | PIDILITIND | Chemicals |
---|---|---|
PE | 77.42 | 54.12 |
PS | 11.65 | 4.55 |
Growth | 6.8 % | 7.3 % |
PIDILITIND vs Chemicals (2021 - 2025)
Investor Care | |
---|---|
Dividend Yield | 0.94% |
Dividend/Share (TTM) | 27 |
Shares Dilution (1Y) | 0.01% |
Diluted EPS (TTM) | 38.37 |
Financial Health | |
---|---|
Current Ratio | 2.02 |
Debt/Equity | 0.02 |
Debt/Cashflow | 19.81 |
Summary of Pidilite Industries's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Last updated: Jan 25
Management Outlook and Key Points:
Demand & Growth:
Segments:
Margins & Costs:
Strategic Initiatives:
Risks & Opportunities:
Summary: Management remains cautiously optimistic, balancing growth investments with margin resilience, while leveraging distribution strength and innovation to capitalize on rural demand and B2B opportunities.
Last updated: Jan 25
Question 1: What is your sense on the macro environment, urban-rural mix, and growth across segments?
Answer: Bharat Puri noted softness in both urban and rural demand but highlighted rural growth outpacing urban. Core categories face strain, but diversified portfolios (45% growth/pioneer segments) sustain growth. Urban slowdown is offset by rural strength, with expectations of post-budget improvement. Input costs remain stable, but rupee depreciation and crude prices are monitored. Margins (23.5"“24%) may vary as investments in growth continue.
Question 2: How are B2B growth drivers performing, and is the momentum sustainable?
Answer: Sudhanshu Vats outlined B2B growth (21.7% volume) driven by projects (real estate finishing), adhesives (packaging/e-commerce), and pigments (export recovery). Momentum is expected to moderate but remain strong. Pioneering segments like electronics/EV adhesives and partnerships (e.g., Jowat) will fuel future growth.
Question 3: What is the pricing strategy amid stable input costs?
Answer: Bharat Puri emphasized volume growth over pricing unless inflation necessitates passing 75% of cost increases. Focus remains on stimulating demand through investments rather than margin-driven pricing.
Question 4: Can Consumer & Bazaar volume growth (7"“8%) sustain amid demand risks?
Answer: Bharat Puri acknowledged demand strain but ruled out material downside barring unforeseen events. Rural distribution expansion and government spending post-budget are expected to support growth.
Question 5: What is the status of domestic subsidiaries (ICA Pidilite, Nina Percept)?
Answer: ICA Pidilite (urban-focused) and Nina Percept (post-Covid recovery) are growing profitably. Both are prioritized as long-term growth businesses.
Question 6: What is Pidilite's inorganic growth strategy?
Answer: Bharat Puri stated a conservative approach: acquisitions must offer synergies, adjacencies, and value. Past successes (Araldite, Blue Coat) guide future targets, but no immediate plans.
Question 7: How does B2B market share compare to B2C?
Answer: Bharat Puri clarified B2B lacks composite market share due to fragmented segments (e.g., packaging, textiles). Pidilite is top 2"“3 in most categories, competing with MNCs/regionals.
Question 8: How is Pidilite leveraging EV/electronics manufacturing trends?
Answer: Sudhanshu Vats highlighted partnerships (Jowat, CollTech) for advanced adhesives and thermal products. Pilots in electronics/EV segments aim to capitalize on India's manufacturing surge over 3"“5 years.
Question 9: Will ad spends rise as pioneer segments expand?
Answer: Bharat Puri affirmed 3"“5% ad spend as sustainable, balancing core (low spend) and pioneer categories (7"“8% spend). No immediate revision is planned.
Question 10: How does real estate completion impact growth?
Answer: Bharat Puri expressed optimism: post-COVID construction nearing completion will drive demand for waterproofing/finishing products, particularly in metros and tier 1"“2 cities.
Question 11: What is the competitive landscape in rural/semi-urban markets?
Answer: Bharat Puri noted Pidilite often competes with non-consumption (education-driven demand). Regional players exist, but focus remains on category creation (e.g., waterproofing) over share gains.
Question 12: What is the online/offline sales mix?
Answer: E-commerce contributes 7"“10% to consumer products (e.g., DIY), while contractor-driven segments (adhesives, waterproofing) remain offline-dominated.
Analysis of Pidilite Industries's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2024
Description | Share | Value |
---|---|---|
Consumer & Bazaar | 77.9% | 2.7 kCr |
Business to Business | 22.1% | 757.1 Cr |
Total | 3.4 kCr |
Understand Pidilite Industries ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Shareholder Name | Holding % |
---|---|
Madhukar Balvantray Parekh | 11.07% |
Narendrakumar Kalyanji Parekh | 9.89% |
Ajay Balvantray Parekh | 9.15% |
Mrudula Sushilkumar Parekh | 7.96% |
Devkalyan Sales Private Ltd | 5.16% |
Ishijas Chemicals Private Limited | 4.99% |
Harton Private Limited | 2.43% |
The Vacuum Forming Company Pvt Ltd | 2.43% |
Pidichem Pvt Ltd | 1.74% |
Axis Elss Tax Saver Fund | 1.61% |
Prakash Shah Trustee of SANMP Private Beneficiary Trust | 1.61% |
Kalpana Apurva Parekh | 1.23% |
Darshana Bimal Mody | 1.13% |
Ami Ajay Parekh | 1.09% |
Mala Madhukar Parekh | 1.04% |
ICICI Prudential Focus Equity Fund | 1.02% |
Apurva Parekh – Trustee of NKP Family Trust | 0.79% |
Narendrakumar Parekh Trustee of Jessica Benefit Trust | 0.78% |
Ishita Rajiv Amersey | 0.71% |
Jasna Raoul Thackersey | 0.71% |
Distribution across major stakeholders
Distribution across major institutional holders
Detailed comparison of Pidilite Industries against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
---|---|---|---|---|---|---|---|---|---|
ASIANPAINT | Asian PaintsPaints | 2.35 LCr | 34.94 kCr | +4.67% | -15.02% | 54.9 | 6.73 | -3.37% | -22.68% |
BERGEPAINT | Berger Paints IndiaPaints | 63.58 kCr | 11.45 kCr | +10.18% | +9.25% | 55.65 | 5.55 | +2.41% | +0.82% |
ASTRAL | ASTRALPlastic Products - Industrial | 36.82 kCr | 5.82 kCr | +5.06% | -33.18% | 70.53 | 6.33 | +4.64% | -8.48% |
KANSAINER | Kansai Nerolac PaintsPaints | 21.16 kCr | 7.91 kCr | +10.14% | -5.85% | 18.87 | 2.67 | +0.97% | -3.16% |
AKZOINDIA | Akzo Nobel IndiaPaints | 16.24 kCr | 4.08 kCr | +7.32% | +46.00% | 37.78 | 3.98 | +2.68% | +3.97% |
JYOTHYLAB | JYOTHY LABSHousehold Products | 13.99 kCr | 2.89 kCr | +15.89% | -11.72% | 37.58 | 4.84 | +4.81% | +6.24% |
Updated Apr 28, 2025
Foreign Institutional Investor holdings in Pidilite Industries decreased to 11.60%.
Pidilite Industries has a TTM P/E ratio of 75.57, which is significantly higher than the sector average of 18.09.
Of the 14 analysts covering the stock, only 7 have given it a buy rating, with 4 rating it as a sell.
Pidilite Industries reported a net profit of Rs 552.40 Crores in its last quarter.
The stock has seen a year-to-date increase of 4.48% and a 3.53% rise in the last 5 days.
Mutual Fund holdings in Pidilite Industries have increased to 4.88%.
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Newspaper Publication • 23 Apr 2025 Pidilite Industries Limited announced the publication of a newspaper advertisement regarding the transfer of certain equity shares to the Investor Education and Protection Fund (IEPF) Authority. The advertisement was published on April 23, 2025, in Business Standard and Sakal. The company has submitted copies of the advertisement to the BSE and NSE for their records. |
General • 22 Apr 2025 Intimation of Q4FY25 Earnings Call |
Newspaper Publication • 21 Apr 2025 Newspaper Advertisement - Notice of Postal Ballot |
General • 21 Apr 2025 Intimation of change in contact details of RTA |
Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 • 07 Apr 2025 Certificate under Regulation 74(5) of SEBI(DP) Regulations, 2018 for the quarter ended 31.03.2025 |
Press Release / Media Release • 01 Apr 2025 Press Release |
General • 01 Apr 2025 Term Completion |