Pidilite Industries Delivers Solid Q2 Revenue, Misses Profit Estimates Despite Volume Growth

Pidilite Industries Ltd., India’s leading manufacturer of adhesives and construction chemicals, posted a mixed set of results for the July–September quarter of FY2025. The company’s consolidated revenue from operations rose 9.9% year-on-year to ₹35.54 billion, beating the Street estimate of ₹35.35 billion. However, net profit grew 8.2% to ₹5.79 billion, falling short of the projected ₹6.24 billion.

Despite the profit miss, the company delivered double-digit volume growth and maintained healthy operating margins at 23.9%, nearly in line with last year’s 23.8%. EBITDA rose 10.5% to ₹8.5 billion, reflecting operational efficiency. Managing Director Sudhanshu Vats attributed the performance to sequential improvement and resilient demand across consumer and industrial segments.

Key Highlights and Major Takeaways

• Revenue: ₹35.54 billion (vs. ₹35.35 billion estimate)  
• Net profit: ₹5.79 billion (vs. ₹6.24 billion estimate)  
• EBITDA: ₹8.5 billion; margin at 23.9%  
• Growth driver: Double-digit volume growth across segments  
• Outlook: Focus on innovation, distribution expansion, and margin stability  

Sources: CNBC TV18, ScanX, Rediff Money