Pidilite Industries Ltd logo

Pidilite Industries Ltd

PIDILITIND NSE

Key Fundamentals

LargecapSpecialty ChemicalsChemicals
Market Cap
1.7L Cr
Volatility
Moderate
P/E Ratio
63.8
EBITDA
₹3,785 Cr
Return on Equity
22.36%
Debt to Equity
0.04
Book Value
₹106.43
EPS
₹36.93
52W High
₹1,686.4
52W Low
₹1,259

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 48.0%

Weaknesses

1
  • Stock is trading at 15.6 times its book value

Growth Rate

Revenue Growth
11.05% ↘
Net Income Growth
17.87% ↘
Cash Flow Change
23.70% ↗
ROE
6.22% ↘
ROCE
6.27% ↘
EBITDA Margin (Avg.)
4.56% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
AI opinion · based on fundamentals
Risk medium

Pidilite Industries commands a market cap of ₹1,68,879 Cr with a PE of 61.6x and a price-to-book of 15.22x. The company is virtually debt-free with a consistent ROE of 22-24% over the past decade, while TTM sales growth stands at 14% and TTM profit growth at 20%.

Bull Case 8
  • Virtually debt-free balance sheet provides financial flexibility and resilience during economic downturns
  • Consistent ROE of 22-24% over 3, 5, and 10-year periods indicates durable competitive advantages and efficient capital allocation
  • TTM profit growth of 20% outpaces TTM sales growth of 14%, signaling margin expansion and operating leverage
  • Compounded profit CAGR of 25% over 3 years demonstrates accelerating earnings momentum
  • Healthy dividend payout ratio of 48.0% with a yield of 1.33%, reflecting shareholder-friendly capital return policy
  • 10-year compounded sales CAGR of 11% shows sustained long-term revenue growth through multiple cycles
  • 10-year stock CAGR of 16% indicates long-term wealth compounding for shareholders
  • 5-year compounded sales CAGR of 15% suggests the company has been able to grow through the pandemic period
Bear Case 8
  • PE ratio of 61.6x is significantly elevated relative to broader market and chemicals sector averages, leaving limited margin of safety
  • Price-to-book of 15.22x implies the market is pricing in substantial future growth that may already be discounted
  • Stock CAGR of only 8% over 3 and 5 years suggests returns have lagged earnings growth, indicating possible valuation compression
  • 3-year compounded sales CAGR of only 7% is notably lower than the 5-year (15%) and 10-year (11%) averages, suggesting a recent growth slowdown
  • 1-year stock return of 11% underperforms the TTM profit growth of 20%, indicating the market may be de-rating the stock
  • At 61.6x PE, even a modest earnings miss could trigger disproportionate price correction given the premium valuation
  • Dividend yield of 1.33% offers limited income cushion relative to risk-free rates in India currently above 7%
  • 5-year compounded profit CAGR of 17% versus 10-year CAGR of 12% needs to sustain at elevated levels to justify current multiples

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Headwinds 2
  • GST penalty order FY20-23 Jul 22

    Pidilite received a GST penalty order of ₹46.98 lakh for FY 2020-21 to 2022-23. The company is reviewing the order and evaluating an appeal.

  • GST penalty order FY17-18 Jul 10

    Pidilite received a GST penalty of ₹34.66 lakh for FY 2017-18. The company is reviewing the order to evaluate next steps.

Positives 2
  • Q1FY27 profit surges 30% YoY Aug 6

    Consolidated net profit rose 30.3% YoY to ₹884 crore for Q1FY27, with revenue up 21.3% to ₹4,541 crore and EBITDA margins expanding to 26.3%. Both C&B and B2B segments beat volume estimates.

  • AGM approves dividend, directors Aug 4

    Shareholders passed all five resolutions at the 57th AGM with 86.82% voting participation, including dividend declaration and director reappointments.

Neutral 4
  • Management retains margin guidance Aug 6

    Management retained 20%-24% EBITDA margin guidance and targets double-digit underlying volume growth at 1.5x to 2x India's real GDP growth of 6%-6.5%.

  • Analyst meet in Singapore Aug 5

    Pidilite will hold an analyst meet on August 13-14, 2026, at the Avendus Spark conference in Singapore for physical interaction with management.

  • New CHRO appointed Jul 21

    Suresh Kumar C appointed as Chief Human Resource Officer effective July 21, 2026, while Ashish Prasad transitions to CBO role.

  • Q1FY27 earnings call scheduled Jul 13

    Pidilite scheduled an earnings call on August 5, 2026, to discuss Q1FY27 performance with MD and CFO participating.

TL;DR: Pidilite delivered a strong Q1FY27 with 30% profit growth, 21% revenue growth, and margin expansion to 26.3%, beating estimates across segments. GST penalties totaling ~₹81 lakh are immaterial relative to the company's scale. Management guidance remains constructive with double-digit volume growth targets indexed to GDP. The trend is clearly improving with broad-based operational momentum and no significant headwinds on the horizon.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
3,275
3,076
3,130
2,902
3,395
3,235
3,369
3,141
3,753
3,554
3,710
3,583
4,552
Expenses
2,569
2,398
2,388
2,327
2,583
2,467
2,571
2,509
2,812
2,704
2,816
2,753
3,358
Operating Profit
706
678
742
575
812
768
798
632
941
850
894
831
1,194
OPM %
22%
22%
24%
20%
24%
24%
24%
20%
25%
24%
24%
23%
26%
Other Income
23
32
37
-23
54
57
56
55
86
50
60
57
109
Interest
12
13
13
13
12
12
12
14
14
13
13
14
13
Depreciation
73
75
79
113
84
88
90
97
97
100
101
97
97
PBT
644
622
687
426
770
725
752
576
916
787
840
777
1,192
Tax %
26%
26%
26%
29%
26%
25%
26%
26%
26%
26%
26%
25%
26%
Net Profit
474
459
511
304
571
540
557
428
678
585
624
584
884
EPS in Rs
4.6
4.43
5.02
2.96
5.57
5.26
5.43
4.15
6.61
5.69
6.07
5.69
8.57
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,844
5,361
5,617
6,078
7,078
7,294
7,293
9,921
11,799
12,383
13,140
14,601
15,399
Expenses
4,073
4,188
4,355
4,737
5,707
5,718
5,606
8,065
9,813
9,675
10,130
11,080
11,630
Operating Profit
771
1,173
1,262
1,341
1,371
1,576
1,686
1,856
1,986
2,708
3,011
3,521
3,769
OPM %
16%
22%
22%
22%
19%
22%
23%
19%
17%
22%
23%
24%
24%
Other Income
40
81
115
153
130
97
74
39
55
63
221
248
275
Interest
16
13
14
16
26
34
37
42
48
51
50
54
54
Depreciation
118
100
115
120
133
170
201
240
270
341
358
395
395
PBT
678
1,141
1,248
1,359
1,342
1,470
1,522
1,614
1,723
2,379
2,823
3,320
3,596
Tax %
25%
29%
31%
29%
31%
24%
26%
25%
25%
27%
26%
26%
—
Net Profit
514
807
863
966
928
1,122
1,126
1,207
1,289
1,747
2,096
2,471
2,676
EPS in Rs
5
7.83
8.39
9.48
9.1
10.99
11.13
11.88
12.52
17
20.41
24.06
26.02
Div. Payout %
29%
26%
28%
32%
36%
32%
38%
42%
44%
47%
49%
48%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
51
51
51
51
51
51
51
51
51
51
51
102
Reserves
2,219
2,587
3,420
3,523
4,097
4,405
5,542
6,353
7,161
8,356
9,704
10,730
Borrowings
58
80
98
125
113
288
331
416
391
382
454
417
Other Liabilities
986
996
1,202
1,500
1,643
1,779
2,890
2,675
2,902
3,286
3,775
4,149
Total Liabilities
3,315
3,714
4,770
5,199
5,904
6,523
8,814
9,494
10,505
12,076
13,984
15,399
Fixed Assets
978
1,137
1,275
1,342
1,448
1,807
4,418
4,703
4,914
5,451
5,705
5,774
CWIP
462
158
148
228
242
259
294
225
406
148
129
329
Investments
370
706
1,443
1,246
1,548
1,186
516
459
881
2,235
3,551
4,350
Other Assets
1,505
1,713
1,904
2,383
2,666
3,270
3,586
4,107
4,304
4,242
4,598
4,947
Total Assets
3,315
3,714
4,770
5,199
5,904
6,523
8,814
9,494
10,505
12,076
13,984
15,399
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
552
907
794
796
845
1,280
1,392
955
1,558
2,724
2,287
2,828
Investing
-436
-491
-879
39
-513
103
-1,688
-558
-899
-1,769
-1,542
-1,224
Financing
-165
-371
41
-790
-361
-849
-76
-468
-656
-742
-918
-1,673
Net Cash Flow
-49
45
-45
46
-29
533
-372
-71
2
212
-173
-68
Free Cash Flow
143
742
671
524
591
836
1,040
581
1,060
2,171
1,839
2,239
CFO/OP
94
104
92
91
91
106
105
76
99
124
100
105
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
44
48
50
56
54
54
66
53
47
49
50
55
Inventory Days
88
89
100
102
95
100
133
114
98
86
103
98
Days Payable
45
53
54
69
59
67
109
70
57
70
85
86
Cash Conversion Cycle
86
84
96
89
90
88
91
96
88
66
68
66
Working Capital Days
27
36
40
49
48
36
23
43
40
19
19
18
ROCE %
32%
45%
39%
36%
33%
33%
28%
25%
24%
30%
30%
31%

Shareholding Pattern

As of Jun 2026
Promoters 69.24%
FIIs 11.69%
DIIs 9.88%
Public 7.68%
Others 1.50%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
70.16%
70.13%
69.99%
69.98%
69.94%
69.94%
69.94%
69.94%
69.94%
69.92%
69.86%
69.84%
69.77%
69.75%
69.60%
69.60%
69.50%
69.36%
69.33%
69.33%
69.32%
69.24%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
11.31%
11.58%
11.96%
11.79%
11.60%
12.13%
0.00%
12.00%
11.75%
11.69%
DIIs
7.25%
6.93%
7.09%
7.28%
7.11%
7.32%
7.47%
8.13%
8.47%
7.93%
7.81%
8.11%
8.94%
8.98%
8.91%
9.16%
9.43%
9.15%
8.53%
9.26%
9.64%
9.88%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
8.84%
8.95%
9.30%
9.27%
9.50%
9.66%
9.43%
9.28%
9.41%
9.22%
9.16%
8.85%
8.54%
8.29%
8.16%
8.08%
8.09%
7.98%
7.97%
7.91%
7.79%
7.68%
Others
13.74%
14.00%
13.62%
13.48%
13.44%
13.08%
13.16%
12.64%
12.18%
12.94%
13.16%
13.20%
1.45%
1.39%
1.37%
1.38%
1.38%
1.36%
14.17%
1.50%
1.50%
1.50%
No. of Shareholders
2,75,949
3,21,594
4,10,821
4,84,597
5,62,810
6,20,875
5,75,479
5,86,075
6,18,327
5,97,029
6,00,117
5,77,382
5,41,114
5,23,292
5,08,966
5,08,918
5,17,618
5,02,257
5,07,732
5,21,850
5,20,440
5,09,811

Documents

Frequently Asked Questions about Pidilite Industries Ltd

What does Pidilite Industries Ltd do?
Pidilite Industries Limited is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY products and polymer emulsions in India. Most of the products have been developed through strong in-house R&D. Our brand name Fevicol has become synonymous with adhesi...
Where is Pidilite Industries Ltd (PIDILITIND) listed?
Pidilite Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: PIDILITIND and BSE: 500331. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Pidilite Industries Ltd belong to?
Pidilite Industries Ltd operates in the Chemicals sector within the Specialty Chemicals industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Pidilite Industries Ltd?
Pidilite Industries Ltd has a market capitalisation of approximately ₹169703.86 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Pidilite Industries Ltd?
The Price-to-Earnings (PE) ratio of Pidilite Industries Ltd is 63.80. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Pidilite Industries Ltd?
Over the past 52 weeks, Pidilite Industries Ltd has traded between a low of ₹1,259 and a high of ₹1,686.4. This range helps investors understand the stock's price volatility and recent trading levels.
Does Pidilite Industries Ltd pay dividends?
Yes, Pidilite Industries Ltd has a dividend yield of 1.28%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Pidilite Industries Ltd?
Pidilite Industries Ltd has a Return on Equity (ROE) of 22.36%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Pidilite Industries Ltd on Tapetide?
On Tapetide, you can view Pidilite Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Pidilite Industries Limited is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY products and polymer emulsions in India. Most of the products have been developed through strong in-house R&D. Our brand name Fevicol has become synonymous with adhesives to millions in India and is ranked amongst the most trusted brands in the country. Some of our other major brands are M-Seal, Fevikwik, Fevistik, Roff, Dr. Fixit, Fevicryl, Motomax, Hobby Ideas, Araldite. [1]

Website pidilite.com
CEO Mr. Madhukar Balvantray Parekh
Employees 8,153
Listed 1993-10-25
Face Value ₹ 1
Issued Size 1,01,77,14,032

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