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Informist, Thursday, May 8, 2025

 

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--Pidilite Jan-Mar consol net profit INR 4.22 bln 
--Analysts saw Pidilite Jan-Mar consol net profit INR 4.47 bln 
--Pidilite Jan-Mar consol net profit INR 4.22 bln vs INR 3.01 bln year ago 
--Pidilite Jan-Mar consol revenue INR 31.41 bln vs INR 29.02 bln year ago 
--Pidilite to pay INR 20 per share dividend for FY25 
--Pidilite FY25 consol net profit INR 20.76 bln vs INR 17.29 bln year ago 
--Pidilite FY25 consol revenue INR 131.40 bln vs INR 123.83 bln year ago 
--Pidilite Jan-Mar consumer, bazaar revenue INR 23.98 bln vs INR 22.47 bln 
--Pidilite Jan-Mar business to business revenue INR 8.09 bln vs INR 7.08 bln 
--Pidilite Jan-Mar one-time cost INR 249.2 mln 

 

By Shakshi Jain

 

MUMBAI – Pidilite Industries Ltd. Thursday reported a double-digit on-year rise in its consolidated net profit for the March quarter, as revenue of the company rose faster than its expenses during the quarter. The company, however, missed the Street's estimate.

 

The adhesive-maker's consolidated net profit surged nearly 41% on year to INR 4.2 billion in the reporting quarter. Sequentially, the bottom line was down over 23%. Analysts had expected the company to report a bottom line of INR 4.5 billion for the quarter.

 

The Mumbai-based company's revenue from operations totalled INR 31.41 billion in Jan-Mar, a tad lower than the INR 31.61 billion expected by analysts. Sequentially, the top line fell almost 7%. The March quarter revenue growth was underpinned by an underlying volume growth of 9.8?ross categories and geographies, the company said in a press release.

 

Total expenses of the company rose nearly 7% on year but declined almost 2% on quarter to INR 26.20 billion in Jan-Mar. Its gross margins improved by 154 basis points on year during the quarter and 86 bps sequentially on benign input prices, the company said.

 

Pidilite's earnings before interest, taxes, depreciation, and amortisation, or EBITDA, before the non-operating income for the March quarter was INR 5.84 billion, up nearly 11% on year, the company said in a presentation. Its EBITDA margin remained in line with the year-ago quarter at 20.6%, it added. Pidilite's consolidated EBITDA before non-operating income for the reporting quarter was INR 6.33 billion, up nearly 10% on year.

 

Pidilite's consumer and bazaar segment earned a revenue of INR 23.98 billion for Jan-Mar, up from 22.47 billion in the year-ago quarter. This segment saw an underlying volume growth of 8% on quarter, the company said. Its business-to-business segment reported net sales of INR 8.09 billion, up from INR 7.08 billion a year ago. The underlying volume growth in this segment was 16.4%.

 

Net sales of the consumer and bazaar segment's domestic business grew 13%, while that of the business-to-business segment grew 20% on year, the company said. The former's EBITDA grew 86% on year, while the latter's fell 22%. It added that sales of international subsidiaries of the company, excluding Pidilite USA and Pulvitec Brazil, were in line with the year-ago quarter.

 

"As we look ahead, we continue to remain cautiously optimistic given the domestic operating environment and improving demand conditions, especially in the construction sector, backed by anticipated good monsoon and increase in government spends," Pidilite Industries' Managing Director Sudhanshu Vats said. He added that the company remained watchful of the impact of uncertain global economic and geopolitical conditions.

 

FY25 FINANCIALS

For the full year ended Mar. 31, Pidilite Industries reported a consolidated net profit of INR 20.76 billion, up 20% on year. The company's revenue grew more than 6% during the year to INR 131.40 billion, aided by an underlying volume growth of 9.3%. Gross margin during the year improved by 254 bps on account of lower input costs, the company said. EBITDA margin during the year was at 23.6%, up from 22.9% in FY24.

 

Pidilite Industries incurred an exceptional loss of INR 249.2 million during the March quarter, mainly due to "impairment of loan and investment in an associate entity," the company said in its press release. In FY24, the adhesive-maker had seen an exceptional loss of INR 720 million on account of divestment of its subsidiary in Brazil.

 

In another update, Pidilite Industries informed that its Whole-Time Director Joseph Varghese has resigned from the company. His last working day is Jul. 31. The company declared a final dividend of INR 20 per share for FY25.

 

The company reported its March quarter earnings post market hours. On Thursday, shares of Pidilite closed at INR 2,957.50 on the National Stock Exchange, down 0.6% from its previous close.  End

 

Edited by Tanima Banerjee

 

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