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Pidilite Industries Q2 FY27 Share Price & Earnings Call Analysis

₹1,488.00+1.81% today
Market cap
₹1.52L Cr
P/E
56.47
ROE
23.92%
PEG
2.29
Price to sales
9.39
Debt to equity
0.03
52W high / low
₹1,702 / ₹1,274
Sales growth (5Y)
14.89%
EBITDA margin
23.52%
Net profit margin
17.02%
Promoter holding
69.19%
Sales (last year)
₹16,142 Cr

Pidilite Industries Limited is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY products and polymer emulsions in India. Most of the products have been developed through strong in-house R&D. Our brand name Fevicol has become synonymous with adhesives to millions in India and is ranked amongst the most trusted brands in the country. Some of our other major brands are M-Seal, Fevikwik, Fevistik, Roff, Dr. Fixit, Fevicryl, Motomax, Hobby Ideas, Araldite. [1]

Guidance scorecard · Q2 FY27 call

What Pidilite Inds.'s management guided
and where it ranks in Chemicals & Petrochemicals

#42of 68 in
Chemicals & Petrochemicals
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Pidilite targets underlying volume growth (UVG) of around 9-10% over a medium-term 3-4 year period, with an aim to gradually increase it further.
  • The company expects double-digit volume growth in core categories, depending on India’s real GDP growth at 6-6.5%, multiplying to double-digit growth.
  • Growth in new and existing categories like tile adhesives, waterproofing chemicals (Dr. Fixit), and UnoFin is accelerating, with significant market share gains.
  • The tile adhesives segment has low penetration (~25-30%), indicating large room for growth and competitive opportunities.
  • Ongoing innovations and premiumization strategies in product categories support growth momentum.

2 more points from Pidilite Inds.'s call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Pidilite Inds. said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Pidilite is investing in expanding and improving its training centers to create a large set of trained applicators, especially for waterproofing.
  • Significant investments are being made in plant automation and technology to ensure consistent product quality in tile adhesives.
  • The company is expanding its wide plant network to strengthen cost management and timely product availability.
  • Focus on building an ecosystem around waterproofing involving education, client and applicator training, and site supervision.
  • Continuous pioneering work on new product categories, including electronics adhesives and advanced adhesives like Fevicol X-PER.
  • Investments aimed at building the base for innovative products like UnoFin, focusing on architect acceptance and project specifications.

2 more points from Pidilite Inds.'s call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Pidilite Inds. said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what Pidilite Inds. said on the order book →

Full Q1 FY27 analysis
Full Chemicals & Petrochemicals ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Pidilite Inds. rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Chemicals & Petrochemicals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹234 Cr3.0
240%+Flat₹3,888 Cr48.5
340%+Flat₹3,514 Cr4.3
440%+Flat₹180 Cr11.9
540%+Flat₹138 Cr15.1
620–40%Up 2%+₹1.70L Cr85.4

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Financials of Pidilite Inds.

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Pidilite Inds.

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +69.84%69.78%69.75%69.60%69.59%69.49%69.35%69.33%69.32%69.32%69.24%69.19%
FIIs +11.49%11.31%11.59%11.96%11.79%11.60%12.13%12.08%12.01%11.75%11.69%12.42%
DIIs +8.32%8.93%8.97%8.89%9.15%9.43%9.15%9.15%9.21%9.56%9.81%9.21%
Government +0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.04%0.08%0.09%0.00%
Public +10.36%10.00%9.71%9.55%9.46%9.47%9.36%9.43%9.40%9.29%9.18%9.20%
No. of Shareholders5,77,3825,41,1145,23,2925,08,9665,08,9185,17,6185,02,2575,17,1205,21,8505,20,4405,09,8115,02,498

Financials of Pidilite Inds.

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +3,0763,1302,9023,3953,2353,3693,1413,7533,5543,7103,5834,5524,298
Expenses +2,3982,3882,3272,5832,4672,5712,5092,8122,7042,8162,7533,3583,420
Operating Profit6787425758127687986329418508948311,194877
OPM %22%24%20%24%24%24%20%25%24%24%23%26%20%
Other Income +3237-23545756558650605710970
Interest13131312121214141313141313
Depreciation757911384889097971001019797100
Profit before tax6226874267707257525769167878407771,192834
Tax %26%26%29%26%25%26%26%26%26%26%25%26%25%
Net Profit +459511304571540557428678585624584884626
EPS in Rs4.435.022.965.575.265.434.156.615.696.075.698.576.03

Financials of Pidilite Inds.

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +4,8445,3615,6176,0787,0787,2947,2939,92111,79912,38313,14014,60116,142
Expenses +4,0734,1884,3554,7375,7075,7185,6068,0659,8139,67510,13011,08012,346
Operating Profit7711,1731,2621,3411,3711,5761,6861,8561,9862,7083,0113,5213,796
OPM %16%22%22%22%19%22%23%19%17%22%23%24%24%
Other Income +40811151531309774395563221248295
Interest16131416263437424851505453
Depreciation118100115120133170201240270341358395395
Profit before tax6781,1411,2481,3591,3421,4701,5221,6141,7232,3792,8233,3203,643
Tax %25%29%31%29%31%24%26%25%25%27%26%26%
Net Profit +5148078639669281,1221,1261,2071,2891,7472,0962,4712,718
EPS in Rs5.007.838.399.489.1010.9911.1311.8812.5217.0020.4124.0626.36
Dividend Payout %29%26%28%32%36%32%38%42%44%47%49%48%

Financials of Pidilite Inds.

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital5151515151515151515151102102
Reserves2,2192,5873,4203,5234,0974,4055,5426,3537,1618,3569,70410,73011,110
Borrowings +588098125113288331416391382454417351
Other Liabilities +9869961,2021,5001,6431,7792,8902,6752,9023,2863,7754,1494,666
Total Liabilities3,3153,7144,7705,1995,9046,5238,8149,49410,50512,07613,98415,39916,229
Fixed Assets +9781,1371,2751,3421,4481,8074,4184,7034,9145,4515,7055,7745,890
CWIP462158148228242259294225406148129329303
Investments3707061,4431,2461,5481,1865164598812,2353,5514,3504,131
Other Assets +1,5051,7131,9042,3832,6663,2703,5864,1074,3044,2424,5984,9475,905
Total Assets3,3153,7144,7705,1995,9046,5238,8149,49410,50512,07613,98415,39916,229

Financials of Pidilite Inds.

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +5529077947968451,2801,3929551,5582,7242,2872,828
Cash from Investing Activity +-436-491-87939-513103-1,688-558-899-1,769-1,542-1,224
Cash from Financing Activity +-165-37141-790-361-849-76-468-656-742-918-1,673
Net Cash Flow-4945-4546-29533-372-712212-173-68
Free Cash Flow1437426715245918361,0405811,0602,1711,8392,239
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit94%104%92%91%91%106%105%76%99%124%100%105%

Financials of Pidilite Inds.

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days444850565454665347495055
Inventory Days888910010295100133114988610398
Days Payable4553546959671097057708586
Cash Conversion Cycle868496899088919688666866
Working Capital Days273640494836234340191918
ROCE %32%45%39%36%33%33%28%25%24%30%30%31%

Guidance history

How Pidilite Inds.'s guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlanned——
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

61out of 100

Momentum score · price trend

61 out of 100 — Steady

Over the past year its share price has moved roughly in the middle of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+3.0%62%
Last 6 months+9.0%67%
Last 3 months−9.4%46%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Pidilite Inds.: 0.4 × 62 + 0.4 × 67 + 0.2 × 46 = 61.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

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