Earnings Review
Pidilite Q1 Profit After Tax up 30% on slower rise in costs; beats view
This story was originally published at 15:52 IST on 4 August 2026
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--Pidilite Apr-Jun consol net profit INR 8.72 bln
--Analysts saw Pidilite Apr-Jun consol net profit at INR 7.75 bln
--Pidilite Apr-Jun consol revenue INR 45.52 bln
--Analysts saw Pidilite Apr-Jun consol revenue at INR 44.38 bln
--Pidilite Apr-Jun consol net profit INR 8.72 bln vs INR 6.72 bln year ago
--Pidilite Apr-Jun consol revenue INR 45.52 bln vs INR 37.53 bln year ago
--Pidilite Q1 consumer, bazaar revenue INR 36.81 bln vs INR 30.07 bln yr ago
--Pidilite Q1 business-to-business sales INR 9.18 bln vs INR 8.07 bln yr ago
--Pidilite Apr-Jun consol EBITDA INR 11.94 bln, up 26.9% on year
--Pidilite Apr-Jun consol EBITDA margin 26.3% vs 25.1% yr ago
--Pidilite Apr-Jun consol gross margin 53.3% vs 54% year ago
--Pidilite:Q1 gross margin dn YoY on inflationary impact of West Asia crisis
--Pidilite Apr-Jun underlying volume growth at 11.3% on year
--Pidilite: Hiked prices across categories to offset increase in input costs
--Pidilite Q1 consumer, bazaar underlying volume growth 12.2% on year
--Pidilite Q1 business-to-business ops underlying volume growth 7.3% on year
--Pidilite: Q1 EBITDA margin up due to carry forward of low cost inventory
--Pidilite: Apr-Jun EBITDA margin up due to price hikes
By Gunjan Rajput
NEW DELHI – Pidilite Industries Ltd. Tuesday reported healthy growth in its consolidated net profit for the June quarter, as total expenses increased at a slower pace than revenue from operations. Revenue growth was supported by healthy performance across both its consumer and bazaar, and business-to-business segments. Apr-Jun marked the company's 14th consecutive quarter of year-on-year net-profit growth, although the pace of profit expansion moderated compared with recent quarters. It also recorded its highest on-year revenue growth in 16 consecutive quarter in the three months under review.
The fevicol maker's consolidated net profit rose to nearly 30% on year to INR 8.72 billion for the June quarter from INR 6.72 billion a year ago, beating the analysts' consensus estimate of of INR 7.75 billion. The company's revenue increased over 21% on year to INR 45.52 billion from INR 37.53 billion a year earlier, compared with the Street's expectation of INR 44.38 billion.
Pidilite Industries' total income rose nearly 21% on year to INR 46.44 billion and other income rose over 7% on year to INR 920 million. The company's total expenses rose nearly 19% on year to INR 34.68 billion. Expenses related to input cost, which account for 54% of the total expenditure, rose nearly 35% on year to INR 18.79 billion, and other expenses grew nearly 16% on year to INR 7.24 billion. Expenses related to employee benefits increased 11% on year to INR 5.15 billion, and cost tied to purchases of stock-in-trade rose 14% on year to INR 2.36 billion for the June quarter.
Revenue from the company's consumer and bazaar business, its largest segment, rose over 22% on year to INR 36.81 billion from INR 30.07 billion a year ago. Sales from the business-to-business segment increased nearly 14% on year to INR 9.18 billion from INR 8.07 billion in the corresponding period last year.
The company's earnings before interest, tax, depreciation and amortisation climbed 26.9% on year to INR 11.94 billion. The EBITDA margin expanded 120 basis points to 26.3% benefiting from carry forward of the low cost inventory complemented with proactive price increases.
The company's underlying volume growth stood at 11.3% during the quarter. Price hikes across product categories helped offset higher input costs. The underlying volume growth for the consumer and bazaar segment was 12.2%, while the business-to-business segment recorded a volume growth of 7.3% for the June quarter.
"We have commenced FY27 on a strong footing, with broad-based growth across both Consumer & Bazaar and Business-to-Business segments. Domestic demand continues to be resilient, supported by healthy performance in urban and rurban markets," Managing Director Sudhanshu Vats said in the investor presentation.
The company's consolidated gross margin contracted around 70 basis points on year to 53.3% due to inflationary impact from the West Asia crisis. "Our disciplined execution has enabled us to manage volatility effectively, balancing investments in brand building, innovation, people and supply chain capabilities with prudent cost management. We continue to monitor external factors such as raw material inflation, freight costs, and global supply chain disruptions, and stay confident that our proactive measures will mitigate risks, while sustaining growth momentum," Vats said.
The company announced its earnings during market hours. Tuesday, shares of the company ended at INR 1,620 on the National Stock Exchange, down 1.4%. End
Edited by Akul Nishant Akhoury
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