
Pidilite Industries Limited, India’s leading adhesives and construction chemicals manufacturer, reported its financial results for the quarter ending December 31, 2024, showcasing steady growth amidst challenging economic conditions. The company recorded consolidated net sales of ₹3,357 crore, reflecting a 9% year-on-year (YoY) growth, driven by a 9.7% increase in underlying volume growth (UVG) across categories and geographies.
The Consumer and Bazaar (C&B) segment saw UVG growth of 7.3%, while the Business-to-Business (B2B) segment maintained strong momentum with UVG of 21.7%. Gross margins improved by 100 basis points YoY, aided by benign input prices. EBITDA margins stood at 24.3% compared to 25.1% in Q3FY24, impacted by increased advertising and sales promotion spends. EBITDA before non-operating income was ₹798 crore, up 8% YoY, while profit after tax (PAT) grew 9% YoY to ₹557 crore.
For the nine months ending December 2024, Pidilite reported net sales of ₹9,964 crore, marking a 7% growth YoY. EBITDA for the nine months stood at ₹2,380 crore, up 12% YoY, and PAT rose by 16% to ₹1,669 crore.
The company highlighted strong growth in domestic subsidiaries, which delivered double-digit revenue growth with improved EBITDA margins. However, international subsidiaries, excluding Pidilite USA and Pulvitec Brazil, reported modest sales growth due to global economic uncertainties and inflation.
Pidilite’s Managing Director, Bharat Puri, stated, “Despite subdued demand across urban and rural geographies, we continued to make steady progress, with robust revenue and underlying volume growth and healthy levels of profitability. Looking ahead, we remain cautiously optimistic on improved demand conditions as a result of a good monsoon and increased construction activities.”
With continued investments in branding, manufacturing, and distribution networks, Pidilite Industries aims to sustain growth across its Consumer and Bazaar (C&B) and B2B segments.