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Pidilite Industries Ltd

Q2 FY26Chemicals & Petrochemicals

Pidilite Industries Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹1,649
Market cap₹1.7L Cr
P/E65.1
Updated23 Aug 2026
Read4 min read

The short version

Pidilite expects to continue double-digit underlying volume growth in the second half, supported by their strong demand-generation model and rich product portfolio (Page 12). The company expects to maintain EBITDA margins within a comfortable corridor of 20%-24%, currently operating near the top end (~24%).

From Pidilite Industries Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Pidilite expects to continue double-digit underlying volume growth in the second half, supported by their strong demand-generation model and rich product portfolio (Page 12).
  • Growth in the Consumer and Bazaar segment sustained at 10%, driven by core and pioneering categories like Roff and electronic adhesives (Page 7).
  • Domestic B2B segment delivered mid-teens underlying volume growth in Q2, with confidence in continuing this momentum (Page 9).
  • Urban demand shows green shoots and is rising, though rural demand still outperforms urban; both expected to grow (Page 4).
  • New construction demand is slightly increasing relative to renovation, with Pidilite well-poised in both segments (Page 5).
  • Pilot programs in niche segments (hotel industry, commercial complexes) progressing cautiously with intention to create new categories (Page 14).
  • No major organic capacity expansion planned; capex will be 3%-5% of sales, allocated preferentially to faster-growing categories (Page 9).

Profitability & Margins

See what Pidilite Industries Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Pidilite maintains capex guidance of 3% to 5% of sales, with investments aligned to faster growing categories requiring capacity increase. (Page 9)
  • No major specific organic capacity expansion announced currently; capex allocated as per portfolio growth needs. (Page 9)
  • Pidilite Ventures continues evaluating new investments and increasing stakes in existing portfolio companies but no concrete updates to share now. (Page 9)
  • The company is sitting on around INR 3,000 crores cash and continuously scouting for organic/inorganic opportunities in related or ancillary segments but no concrete plans yet. (Page 9)
  • Investment in demand generation (A&SP) and GTM capability building will continue judiciously, leveraging benign raw material prices. (Page 7)
  • Focus on building full-fledged architect and interior designer GTM programs and professional solutions for the construction sector. (Page 7)

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Ranked on what management guided this quarter

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Pidilite Industries Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript does not provide specific details on current or expected order book or pending orders for Pidilite Industries Limited. However, relevant insights include: - The company has started receiving commercial orders and repeat orders in new product areas (Page 12). - There is traction in sectors like hotels and commercial complexes, but pilot projects are still ongoing, especially in Northern regions (Pages 13-14). - The B2B segment showed mid-teens underlying volume growth domestically despite some export challenges due to tariffs (Pages 8-9). - The company remains confident about demand momentum continuing in both B2B and consumer segments (multiple sections). - Overall, the business continues to focus on demand generation and strengthening go-to-market models rather than broad capacity expansions currently (Pages 7-9). No explicit order book or pending order values/numbers are mentioned in the transcript.

Pidilite Industries Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹3.6K Cr, net profit ₹584 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Pidilite Industries Ltd Q2 FY26 results?

Pidilite expects to continue double-digit underlying volume growth in the second half, supported by their strong demand-generation model and rich product portfolio (Page 12). The company expects to maintain EBITDA margins within a comfortable corridor of 20%-24%, currently operating near the top end (~24%).

What is Pidilite Industries Ltd share price analysis?

Pidilite Industries Ltd currently shows a neutral. The stock trades at a P/E of 65.1 with a market cap of ₹172,312 Cr. Investors should review the full earnings analysis for detailed insights.

Is Pidilite Industries Ltd planning capital expenditure?

Pidilite maintains capex guidance of 3% to 5% of sales, with investments aligned to faster growing categories requiring capacity increase.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.