- Pidilite's Q3 revenue rose 10.1% to Rs 3,710 crore, driven by volume growth
- Net profit declined 11.9% year-on-year to Rs 618 crore despite higher revenue
- Ebitda increased 12% to Rs 894 crore with margins improving to 24.1%
Pidilite Industries reported a mixed set of numbers for the third quarter, with strong double-digit revenue growth supported by healthy volume expansion, even as profitability saw a year-on-year decline.
Pidilite's revenue rose 10.1% to Rs 3,710 crore compared with Rs 3,369 crore in the same period last year. Net profit, however, fell 11.9% year-on-year to Rs 618 crore. Despite the decline in profit, operating performance remained steady, with Ebitda increasing 12% to Rs 894 crore from Rs 798 crore a year ago.
Ebitda margin improved to 24.1% from 23.7% in the corresponding quarter last year, reflecting effective cost management and operating leverage.
Net sales for the quarter stood at Rs 3,425 crore, marking an 11% year-on-year growth, driven by underlying volume growth (UVG) of 9.3%. On a comparable basis, net sales were reported at Rs 3,699 crore, up 10.2% over the same quarter last year.
The Consumer & Bazaar (C&B) segment continued to be the primary growth driver. Revenue from the segment grew 12.4% year-on-year, supported by robust underlying volume growth of 9.7%. Demand remained healthy across categories, aided by steady consumption trends and brand-led growth.
The Business-to-Business (B2B) segment reported relatively modest growth. Revenue rose 2.9% for the quarter, with underlying volume growth of 7.4%. Growth in this segment was partly impacted by lower exports of industrial products, particularly pigments. That said, the project business within B2B maintained its growth momentum. For the year-to-date period ended December 2025, the B2B segment posted growth of 7.7%.
Commenting on the performance, Sudhanshu Vats, Managing Director of Pidilite Industries, said the company delivered double-digit revenue growth backed by strong volume expansion and healthy operating margins.
Looking ahead, management remains optimistic about the domestic demand environment. Vats noted that favourable monsoons, along with the continued indirect impact of GST 2.0, are expected to support demand. Additionally, the thrust on infrastructure and urbanisation in the Union Budget is seen as a positive for the company's growth outlook.
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