Pidilite Industries Q1 FY25 Results: Net profit up 21% to Rs 567 million

Earnings before interest, taxes, depreciation and amortization (EBITDA) margin increased by 15 percent compared to the same quarter last year. | Photo: Pidilite website

2 minutes of reading Last updated: August 7, 2024 | 18:34 IST

India’s Pidilite Industries on Wednesday beat first-quarter profit estimates, helped by steady demand for its adhesives and sealants and nearly unchanged costs.

Pidilite reported a consolidated net profit of Rs 567 cr ($67.4 million) in the April-June quarter, up 21% from a year earlier. Analysts had expected a profit of Rs 532 cr, according to LSEG data.

The adhesives manufacturer recorded a 3 percent increase in sales in its largest segment, the consumer and bazaar segment, which includes the Fevicol adhesives and Dr. Fixit waterproofing products brands.

India’s manufacturing sector boomed in the April-June quarter as production rose on the back of strong demand.

This high demand, especially in the construction sector, has led to increased consumption of construction chemicals such as those produced by Pidilite.

The company reported revenue of Rs 3,395 million, compared to Rs 3,275 million a year earlier, while total expenses remained unchanged at Rs 2,679 million.

Net earnings before interest, taxes, depreciation, and amortization (EBITDA) margin increased by 15 percent compared to the same quarter last year.

“Given the healthy monsoon and upcoming festival season, we remain optimistic about market demand and our ability to deliver solid growth,” Managing Director Bharat Puri said in an earnings statement.

Pidilite shares continued to rally and rose as much as 4.6 percent following the results announcement.

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First published: August 7, 2024 | 18:34 IST