Pidilite Industries (PIDILITIND) Q1 26/27 earnings summary

Executive summary

• Standalone revenues grew 22.2% year-over-year to INR 4,237 crore, with underlying volume growth of 11.3%.

• Consolidated revenues rose 21.3% to INR 4,541 crore; profit after tax increased 30.3% year-over-year.

• Standalone revenue from operations for Q1 FY27 was ₹4,249.38 crore, up from ₹3,479.30 crore in Q1 FY26.

• Domestic and international subsidiaries delivered double-digit revenue growth, led by Consumer and Bazaar segments.

• Continued investments in brand building, innovation, and supply chain capabilities supported market expansion.

Financial highlights

• Standalone net sales rose 22.2% year-over-year to Rs 4,237 Cr; consolidated revenue up 21.3% to Rs 4,541 Cr.

• Standalone PAT increased 27.7% to Rs 830 Cr; consolidated PAT up 30.3% to Rs 884 Cr.

• EBITDA margin improved to 26.4% (standalone) and 26.3% (consolidated), with EBITDA up 26.2% and 26.9% respectively.

• Gross margin was 52.5%, down 90 bps year-over-year due to higher VAM costs and inflationary pressures.

• Dividend of INR 11.50 per share approved.

Outlook and guidance

• Management expects demand to remain steady, with underlying volume growth in double digits, indexed to GDP growth.

• Margin guidance corridor of 20-24% maintained for flexibility amid volatility; Q1 margin at upper end may moderate but expected to stay within range.

• Proactive pricing and close monitoring of rebates to balance raw material volatility.

• Strategic focus remains on consistent, profitable, volume-led growth.

• Proactive measures to mitigate risks from raw material inflation, freight costs, and global supply chain disruptions.