Pidilite Industries Limited Standalone Double digit Underlying Volume Growth in Q4

Chandigarh, May 9, 2025: Pidilite Industries Limited, India’s leading manufacturer of adhesives, sealants and construction chemicals today announced its financial results for the quarter and year ended March 31, 2025.

The current quarter’s revenue growth of 10.2% was underpinned by UVG of 9.8% across categories and geographies. Consumer and Bazaar (‘C&B’) UVG was 8.0% with sequential improvement, while Business to Business (‘B2B’) continued to report robust UVG of 16.4%.

Gross Margins improved by 154 bps over Q4 FY24 and by 86 bps over Q3 FY25, primarily driven by benign input prices. A&SP spends were stepped up to drive demand generation (Q4 FY25: 5.4% of Net Sales; Q4 FY24: 4.7%; Q3 FY25: 3.9%). EBITDA Margins remained in line with Q4 FY24 at 20.6%.

FY25 revenue grew by 8.1% underpinned by UVG of 9.3% with C&B UVG of 7.2% and B2B UVG of 19.2%. Gross Margins increased by 254 bps over previous year on account of lower input costs. EBITDA Margins for FY25 were at 23.6% as compared to 22.9% last year.

We continue to remain focussed on building a resilient supply chain and invest behind upgrading and setting up new manufacturing facilities. Innovation across C&B and B2B segment continued to positively contribute to the overall revenues of the company.

Domestic subsidiaries reported double–digit sales growth in the current quarter. EBITDA also grew in double–digit over Q4 FY24. Sales of International subsidiaries (excluding Pidilite USA and Pulvitec Brazil) were in line with Q4 FY24.

FINANCIAL PERFORMANCE FOR Q4 FY25:

Consolidated Performance

·        Net sales at Rs 3,130 cr grew by 10% (excluding Pidilite USA and Pulvitec Brazil) over the same quarter last year.

·        EBITDA before non-operating income at Rs 633 cr grew by 10% over the same quarter last year.

·        Profit before Tax and Exceptional Items (PBT) at Rs 601 cr grew by 21% over the same quarter last year.

*UVG refers to volume growth including the impact of mix of turnover realization of products sold.

#The proposed dividend is subject to approval of shareholders at the AGM.

·  Profit after Tax (PAT) at Rs 428 cr grew by 41% over the same quarter last year. It may be noted that last year, there was an exceptional loss of Rs 72 cr on account of divestment of Brazil subsidiary. In the current year, there is an exceptional loss of Rs. 25 cr, mainly on account of impairment of loan and investment in an associate entity.

  Standalone Performance

·        Net sales at Rs 2,839 cr grew by 10% over the same quarter last year.

·        EBITDA before non-operating income at Rs 584 cr grew by 11% over the same quarter last year.

·        Profit before Tax and Exceptional Items (PBT) at Rs 606 cr grew by 31% over the same quarter last year.

·        Profit after Tax (PAT) at Rs 446 cr grew by 26% over the same quarter last year. It may be noted that last year, there was an exceptional gain of Rs. 7 cr on account of share buyback of USA subsidiary and divestment of Brazil subsidiary. In the current year, there is an exceptional loss of Rs. 20 cr, mainly on account of impairment of loan to an associate entity.

 FINANCIAL PERFORMANCE FOR FY25:

Consolidated Performance

·        Net sales for the current year stood at Rs 13,094 cr, grew by 8% (excluding Pidilite USA and Pulvitec Brazil) over last year.

·        EBITDA before non-operating income for the current year stood at Rs 3,013 cr, grew by 11% over last year.

·        Profit before Tax and Exceptional Items (PBT) for the current year stood at Rs 2,848 cr, grew by 16% over last year.

·        Profit after Tax (PAT) for the current year at Rs 2,096 cr, grew by 20% over last year.

  Standalone Performance

·        Net sales for the current year stood at Rs 12,023 cr, grew by 8% over last year.

·        EBITDA before non-operating income for the current year stood at Rs 2,835 cr, grew by 11% over last year.

·        Profit before Tax and Exceptional Items (PBT) for the current year stood at Rs 2,786 cr, grew by 16% over last year.

·        Profit after Tax (PAT) for the current year at Rs 2,074 cr, grew by 15% over last year.

Commenting on the results, Mr. Sudhanshu Vats, Managing Director, Pidilite Industries Ltd, said:

 “Despite the challenging macro-economic environment and demand conditions, we have delivered strong Underlying Volume Growth with healthy margins. 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. We remain watchful of the impact of uncertain global economic and geo-political conditions. We remain committed to our strategic agenda of delivering consistent, profitable volume led growth through investment in our brands, supply chain and people.”