Pidilite Industries Ltd

PIDILITIND

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Market Cap

₹ 1,50,525 Cr

P/E

67.05

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

EXCEPTIONAL

Profitability

HIGH MARGIN

Technicals

Bearish

Risk

LOW RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Pidilite Industries Limited is a leading Indian manufacturer in the adhesives and specialty chemicals sector, known for its flagship brands like Fevicol and Dr. Fixit.

In Q2 FY26, Pidilite recorded standalone revenue of INR 3,272 crores with a 10.4% growth in the Consumer and Bazaar segment, showcasing robust domestic demand.

The company has enhanced its advertising and sales promotion expenditure by 80% over the last year’s second quarter, utilizing improved margins from lower raw material costs.

Pidilite Industries targeted both rural and urban sectors effectively, with rural regions consistently outperforming, yet urban regions showing significant improvement, enhancing overall market penetration.

Recent strategic initiatives include the construction of a new large-scale warehouse in Ambala and partnerships in advanced material sectors, highlighting focus on capacity expansion and innovation.

Sector

Chemicals

Industry

Chemicals - Speciality - Large

Market Cap

1,50,525 Cr

Volatility

Low Risk

P/E Ratio

67.1

Industry P/E

47.8

PEG Ratio

6.9

P/B Ratio

15.8

52W High

1,606.48

52W Low

1,310.08

Sales CAGR

6.12%

10.72%

13.77%

10Y

10.14%

Profit CAGR

19.96%

20.29%

13.49%

10Y

12.02%

ROE

TTM

23.30%

19.52%

19.29%

10Y

21.01%

ROCE

TTM

30.85%

25.14%

24.66%

10Y

27.42%

Technicals

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Forecasts

No. of Analysts

23

1Y Price Target

1647.87 ▲ 11.09%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
PIDILITIND	1479.05	1,50,525 Cr	67.05	15.76	0.68	23.30	30.85	16.17
SRF	2998.00	88,975 Cr	55.00	6.71	0.24	12.20	13.74	7.27
FLUOROCHEM	3529.00	38,717 Cr	56.94	5.08	0.09	8.93	10.88	6.40
ATUL	5851.90	17,229 Cr	31.77	2.91	0.43	9.16	12.62	7.52
BASF	3955.50	17,130 Cr	46.44	4.52	0.51	9.90	13.47	4.89
VINATIORGA	1595.65	16,541 Cr	37.96	5.64	0.47	14.85	19.95	13.19
ANURAS	1318.15	15,007 Cr	99.26	4.69	0.05	4.73	9.37	3.94

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	3,275	3,076	3,130	2,902	3,395	3,235	3,369	3,141	3,753	3,554
Expenses	2,568	2,396	2,388	2,325	2,583	2,466	2,571	2,509	2,812	2,704
Operating Profit	707	680	742	577	813	769	798	633	941	851
OPM %	21.59	22.10	23.72	19.88	23.94	23.77	23.70	20.14	25.07	23.93
Other Income	22	30	37	-25	53	56	55	55	86	50
Interest	12	13	13	13	12	12	12	14	14	13
Depreciation	73	75	79	113	84	88	90	97	97	100
Profit Before Tax	644	622	687	426	770	725	752	576	916	787
Tax %	26.46	26.24	25.68	28.60	25.77	25.49	25.90	25.80	26.01	25.75
Net Profit	474	459	511	304	571	540	557	428	678	585
EPS in Rs	4.60	4.42	5.02	2.95	5.57	5.24	5.42	4.14	6.59	5.69

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	6,062	6,219	7,078	7,294	7,293	9,921	11,799	12,383	13,140	13,498
Expenses	4,357	4,737	5,710	5,718	5,612	8,074	9,815	9,676	10,128	10,357
Operating Profit	1,705	1,482	1,368	1,576	1,681	1,847	1,984	2,707	3,013	3,141
OPM %	28.13	23.82	19.33	21.61	23.05	18.62	16.82	21.86	22.93	23.27
Other Income	118	153	132	97	80	48	56	64	219	252
Interest	14	16	26	34	37	42	48	51	50	52
Depreciation	115	120	133	170	201	240	270	341	358	371
Profit Before Tax	1,248	1,359	1,342	1,470	1,522	1,614	1,723	2,379	2,823	2,970
Tax %	30.85	28.90	30.80	23.66	26.03	25.22	25.21	26.56	25.74	25.81
Net Profit	863	966	928	1,122	1,126	1,207	1,289	1,747	2,096	2,203
EPS in Rs	8.45	9.45	9.09	10.96	11.11	11.86	12.50	16.99	20.37	21.84
Dividend Payout %	28.32	31.68	35.71	31.86	38.22	42.11	43.95	47.09	49.10	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	513	51	51	51	51	51	51	51	51	51
Reserves	2,587	3,420	3,523	4,097	4,405	5,542	6,353	7,161	8,356	9,704
Borrowings	80	98	123	111	281	331	416	391	382	454
Other Liabilities	540	1,206	1,508	1,655	1,799	2,906	2,696	2,922	3,314	3,803
Total Liabilities	3,719	4,774	5,204	5,915	6,536	8,830	9,516	10,525	12,104	14,011
Fixed Assets	1,137	1,275	1,342	1,448	1,807	4,418	4,703	4,914	5,451	5,705
CWIP	158	148	228	242	259	294	225	406	148	129
Investments	706	1,443	1,246	1,548	1,186	516	459	881	2,235	3,551
Other Assets	1,718	1,908	2,389	2,677	3,283	3,603	4,128	4,324	4,270	4,626
Total Assets	3,719	4,774	5,204	5,915	6,536	8,830	9,516	10,525	12,104	14,011

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	907	794	796	845	1,280	1,392	955	1,558	2,724	2,287
Cash from Investing Activity	-491	-879	39	-513	103	-1,688	-558	-899	-1,769	-1,542
Cash from Financing Activity	-371	41	-790	-361	-849	-76	-468	-656	-742	-918
Net Cash Flow	45	-45	46	-29	533	-372	-71	2.19	212	-173

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	69.94%	69.94%	69.92%	69.86%	69.84%	69.77%	69.75%	69.60%	69.60%	69.50%	69.36%	69.33%
FIIs	11.08%	10.61%	11.34%	11.44%	11.49%	11.31%	11.58%	11.96%	11.79%	11.60%	12.13%	12.17%
DIIs	8.13%	8.47%	7.93%	8.02%	8.32%	8.94%	8.98%	8.91%	9.16%	9.43%	9.16%	9.10%
Public	10.85%	10.98%	10.82%	10.68%	10.34%	9.98%	9.68%	9.53%	9.46%	9.47%	9.35%	9.39%
Total Shareholders	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

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Mar 31, 2025	Maithili parekh	Insider - Promoter Group	Disposal	2,850.11	28.50 Cr	1,00,000	0.01
Mar 25, 2025	Saswata dhar	Insider - Employee	Acquisition	1.00	0.00 Cr	900	—
Mar 25, 2025	Yogesh anand	Insider - Employee	Acquisition	1.00	0.00 Cr	300	—
Mar 24, 2025	Shivan singh	Insider - Promoter Group	Disposal	2,741.38	1.92 Cr	7,000	—
Mar 24, 2025	Radha singh	Insider - Promoter Group	Disposal	2,740.67	3.29 Cr	12,000	—
Mar 24, 2025	Radha singh	Insider - Promoter Group	Disposal	2,743.37	1.92 Cr	7,000	—
Mar 24, 2025	Shivan singh	Insider - Promoter Group	Disposal	2,740.82	3.29 Cr	12,000	—
Mar 21, 2025	Shivan singh	Insider - Promoter Group	Disposal	2,748.09	1.37 Cr	5,000	—
Mar 21, 2025	Shivan singh	Insider - Promoter Group	Disposal	2,750.88	0.28 Cr	1,000	—
Mar 21, 2025	Radha singh	Insider - Promoter Group	Disposal	2,743.07	1.37 Cr	5,000	—

Projection

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Announcements

Last 7 days

Newest

Sentiment

Regulatory Filing

5 days ago

Regulatory Disclosure of Penalty Imposed

Pidilite Industries disclosed that its subsidiary, Nina Percept Pvt Ltd, received a penalty of Rs. 1.97 crore from CGST for FY 2018-19 to 2020-21, which is appealable.

Investor Meeting

5 days ago

Schedule of Analyst/Institutional Investor Meetings

The company has scheduled analyst and institutional investor meetings on December 16 and December 19, 2025, as per SEBI regulations.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

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