Pidilite has defined a portfolio strategy focused on sustained profitable growth, structured around three distinct categories: Core, which comprises well-established brands with high market maturity and substantial market share, growing at 1-2x GDP. Growth, which encompasses emerging product categories with significant potential for market expansion or increased market share, achieving growth at 2-4x GDP and Pioneer, which consists of nascent categories that present substantial market creation opportunities, projected to generate Rs 1 billion in revenue over next three years.
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Dolat Capital Report
We maintain our ‘Buy' rating with target price of Rs 3,480 on Pidilite Industries Ltd. as we believe that the company's strong brand portfolio and wide distribution reach will help accelerate growth in the long run.
We would revisit our estimates and ratings post Q4 earnings. At current market price the stock is trading at 51 times FY27E earnings per share.
We attended the Pidilite Analyst Day'25, where the company reinforced its portfolio strategy aimed at achieving sustainable profitability, through three distinct categories-
Core, which is growing at 1-2x of GDP,
Growth, which is expanding at 2-4x of GDP and
Pioneer, projected to generate Rs 1 billion in revenue over next three years.
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