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Pidilite Industries
The inflation is still high compared to the past, but it has come down to a 'manageable level', Pidilite Industries Managing Director Bharat Puri has said. He also expects better margins in the second half of this fiscal. The current quarter will have some lag due to the carry forward of some of the high-priced inventory, but the fourth quarter would witness better margins, Puri said. He is optimistic about India and the home improvement sector, and Pidilite is ready for the next phase of growth with its ongoing capex programme. Puri expects the rural markets to bounce back with positive volume growth, helped by a good monsoon in the next six months. According to Puri, it will take a little bit of time but will come back. The demand is most impacted in rural and semi-urban India. "As inflation moderates and more money comes into the hands of the consumer because of the good monsoon, we do think that over the next six months, hopefully, demand should improve from there also," Puri
Pidilite Industries on Wednesday reported a decline of 10.06 per cent in consolidated net profit at Rs 337.75 crore for the second quarter of FY23 on account of raw material inflation and high-priced inventory. The company, which manufactures adhesives, sealants and construction chemicals, had logged a profit of Rs 375.53 crore in the July-September quarter a year ago. Revenue from operations was up 14.65 per cent at Rs 3,011.15 crore during the quarter under review as against Rs 2,626.35 crore in the year-ago period, Pidilite Industries said in a regulatory filing. "Margins continue to be impacted owing to raw material inflation, a weaker currency and high-priced inventory. Selective pricing action along with mix enrichment helped to maintain gross margins sequentially," said Pidilite in an earnings statement. Control in costs below gross margin enabled to maintain EBITDA margin at the same level as previous quarters, it added. Pidilite's total expenses were at Rs 2,586.60 crore,
Pidilite Industries on Wednesday reported 64.27 per cent rise in consolidated net profit at Rs 357.52 crore for June quarter 2022-23, led by growth in sales and volume. The company which manufactures adhesives, sealants and construction chemicals had logged a profit of Rs 217.64 crore in April-June period a year ago. Revenue from operations was up 60.11 per cent at Rs 3,101.11 crore during the quarter under review as against Rs 1,936.79 crore in the year-ago period, Pidilite Industries said in a regulatory filing. "The current quarter recorded robust revenue growth, a combination of higher volumes and measured price increases," said an earning statement of Pidilite Industries. However, it added that input costs remained elevated during the quarter and cost efficiency measures ensured PAT growth in line with revenue growth. Total expenses were at Rs 2,641.98 crore as against Rs 1,655.45 crore. Revenue from the 'Consumer & Bazaar' segment was up 63.9 per cent to Rs 2,435.84 crore i
Pidilite Industries, a leading manufacturer of adhesives, sealants and construction chemicals, on Tuesday reported a 19.5 per cent decline in its consolidated net profit to Rs 359.24 crore for the third quarter ended December 2021. The company had posted a Rs 446.43-crore profit in the corresponding period a year ago, Pidilite Industries said in a regulatory filing. Its revenue from operations during the October-December 2021 jumped 24 per cent to Rs 2,850.72 crore, compared with Rs 2,299.02 crore in the year-ago period. "Robust double-digit revenue growth in this quarter was led by staggered pricing actions and steady demand conditions," Pidilite Industries said in a statement. Its growth was broad-based across consumer and bazaar (C&B) and business-to-business (B2B) with growth in urban geographies outpacing rural geographies. However, it also added that "gross margins continue to get impacted on account of an unabated increase in input cost". Pidilite Industries Managing ...