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Prabhudas Lilladher Report
We have increased our sales estimate by 5.94/4.6/4.6% for FY21/22/23 on the back of strong numbers reported by Pidilite Industries Ltd. aided by continued demand momentum in rural areas and revival in urban demand.
Business-to-business segment has also benefited from resurgence in industrial activity.
We remain positive on the company given its strong presence in water proofing and construction chemicals due to first mover advantage and strong connect with trade.
We believe investment in Huntsman will allow the company to consolidate Araldite's leadership position in epoxy based adhesives by leveraging its strong distribution network.
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