Pidilite Industries reported on Tuesday, January 23, revenue of ₹3,130 crore aided by robust underlying volume growth (UVG) of 10.4% across categories and geographies, aided by a moderation in input costs. The revenue, however, came in lower than a CNBC-TV18 poll estimate of ₹3,206 crore.
India’s leading manufacturer of adhesives, sealants, and construction chemicals reported a consolidated profit after tax (PAT) or net profit at ₹510.9 crore for the quarter ended December 31, 2023, beating the CNBC-TV18 poll estimate of ₹495 crore on a year-on-year (YoY) basis. The PAT grew by 66% over the same quarter last year, from ₹307.74 crore.
Pidilite Industries EBITDA for the quarter under consideration came in at ₹742.5 crore, higher than the
CNBC-TV18 poll estimate of 725 crore. The margin increased to 23.7% against the poll estimate of 22.5%.
Commenting on the results, Bharat Puri, Managing Director, Pidilite Industries said, "At Pidilite, we delivered another quarter of robust Underlying Volume Growth (‘UVG’) along with substantially improved profitability. Continued moderation in input costs resulted in good improvements in Gross Margins, enabling us to invest behind our brands as well as other growth initiatives. Our growth remained broad-based across categories and geographies. We continue to remain optimistic about market demand in the near term, with increased government spending and the overall improvement in construction activities. We remain committed to deliver volume led profitable growth via investment in our brands, supply chain, digital infrastructure, innovation and customer facing initiatives.”
Pidilite Industries share price settled at
₹2,534.05 apiece on NSE, down 5.36%. The scrip hit the day's low at
₹2,488.10, falling over 6.5% in intra-day trade.
First Published: Jan 23, 2024 6:10 PM IST
