Adhesive-maker Pidilite Industries Ltd. reported a 20% rise in consolidated net profit in the first quarter of financial year 2025, beating analysts' estimates.
The company's bottom-line came in at Rs 571 crore in the April-June quarter, compared to Rs 474 crore in the same period last year, according to an exchange filing on Wednesday. Analysts' estimates tracked by Bloomberg projected the profit at Rs 524 crore.
Pidilite Industries Q1 FY25 Results (Consolidated, YoY)
Revenue up 3.7% to Rs 3,395 crore versus Rs 3,275 crore (Bloomberg estimate: Rs 3,483 crore).
Ebitda up 14.96% to Rs 813 crore versus Rs 707 crore (Bloomberg estimate: Rs 773 crore).
Margin at 23.9% versus 21.6% (Bloomberg estimate: 22.2%).
Net profit up 20.6% to Rs 571 crore versus Rs 474 crore (Bloomberg estimate: Rs 524 crore).
For the quarter, volume growth was 9.6%, with B2B businesses reporting 18% rise driven by both domestic and export segments. Revenue in B2B segment soared 9% yearly to Rs 576 crore. Consumer-facing business volume increased 8%, while sales surged 5.5% to Rs 2,424 crore.
Value growth lagged volume growth due to pricing actions taken as a result of softer input prices, the company said.
"Despite challenging economic conditions because of election-related impact as well as severe heatwave conditions in most parts of the country, we delivered robust UVG (underlying volume growth) as well as healthy profitability in this quarter," Managing Director Bharat Puri said in a statement. He also expressed optimism on demand due to a healthy monsoon and the ensuing festival season.
Mumbai-based Pidilite Industries is a manufacturer of adhesives and sealants, construction chemicals, craftsmen products, do-it-yourself products and polymer emulsions in India.
Shares were trading 3.3% higher at Rs 3,156 apiece as of 3:14 p.m., compared to a 1.24% advance in the benchmark NSE Nifty 50.
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