Pidilite Industries Ltd
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]
- Market Cap ₹ 1,50,224 Cr.
- Current Price ₹ 1,476
- High / Low ₹ 1,575 / 1,259
- Stock P/E 61.1
- Book Value ₹ 106
- Dividend Yield 0.68 %
- ROCE 31.0 %
- ROE 23.9 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 61.8%
Cons
- Stock is trading at 13.9 times its book value
- Working capital days have increased from 51.2 days to 116 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Chemicals Chemicals & Petrochemicals Specialty Chemicals
Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 Nifty Next 50
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,844 | 5,361 | 5,617 | 6,078 | 7,078 | 7,294 | 7,293 | 9,921 | 11,799 | 12,383 | 13,140 | 14,601 | |
| 4,073 | 4,188 | 4,355 | 4,737 | 5,707 | 5,718 | 5,606 | 8,065 | 9,813 | 9,675 | 10,130 | 11,084 | |
| Operating Profit | 771 | 1,173 | 1,262 | 1,341 | 1,371 | 1,576 | 1,686 | 1,856 | 1,986 | 2,708 | 3,011 | 3,517 |
| OPM % | 16% | 22% | 22% | 22% | 19% | 22% | 23% | 19% | 17% | 22% | 23% | 24% |
| 40 | 81 | 115 | 153 | 130 | 97 | 74 | 39 | 55 | 63 | 221 | 252 | |
| Interest | 16 | 13 | 14 | 16 | 26 | 34 | 37 | 42 | 48 | 51 | 50 | 54 |
| Depreciation | 118 | 100 | 115 | 120 | 133 | 170 | 201 | 240 | 270 | 341 | 358 | 395 |
| Profit before tax | 678 | 1,141 | 1,248 | 1,359 | 1,342 | 1,470 | 1,522 | 1,614 | 1,723 | 2,379 | 2,823 | 3,320 |
| Tax % | 25% | 29% | 31% | 29% | 31% | 24% | 26% | 25% | 25% | 27% | 26% | 26% |
| 514 | 807 | 863 | 966 | 928 | 1,122 | 1,126 | 1,207 | 1,289 | 1,747 | 2,096 | 2,471 | |
| EPS in Rs | 5.00 | 7.83 | 8.39 | 9.48 | 9.10 | 10.99 | 11.13 | 11.88 | 12.52 | 17.00 | 20.41 | 24.06 |
| Dividend Payout % | 29% | 26% | 28% | 32% | 36% | 32% | 38% | 42% | 44% | 47% | 49% | 89% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 15% |
| 3 Years: | 7% |
| TTM: | 11% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 17% |
| 3 Years: | 25% |
| TTM: | 17% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 10% |
| 3 Years: | 6% |
| 1 Year: | -1% |
| Return on Equity | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 22% |
| 3 Years: | 23% |
| Last Year: | 24% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 102 |
| Reserves | 2,219 | 2,587 | 3,420 | 3,523 | 4,097 | 4,405 | 5,542 | 6,353 | 7,161 | 8,356 | 9,704 | 10,730 |
| 58 | 80 | 98 | 125 | 113 | 288 | 331 | 416 | 391 | 382 | 454 | 417 | |
| 986 | 996 | 1,202 | 1,500 | 1,643 | 1,779 | 2,890 | 2,675 | 2,902 | 3,286 | 3,775 | 4,184 | |
| Total Liabilities | 3,315 | 3,714 | 4,770 | 5,199 | 5,904 | 6,523 | 8,814 | 9,494 | 10,505 | 12,076 | 13,984 | 15,433 |
| 978 | 1,137 | 1,275 | 1,342 | 1,448 | 1,807 | 4,418 | 4,703 | 4,914 | 5,451 | 5,705 | 5,774 | |
| CWIP | 462 | 158 | 148 | 228 | 242 | 259 | 294 | 225 | 406 | 148 | 129 | 329 |
| Investments | 370 | 706 | 1,443 | 1,246 | 1,548 | 1,186 | 516 | 459 | 881 | 2,235 | 3,551 | 4,350 |
| 1,505 | 1,713 | 1,904 | 2,383 | 2,666 | 3,270 | 3,586 | 4,107 | 4,304 | 4,242 | 4,598 | 4,981 | |
| Total Assets | 3,315 | 3,714 | 4,770 | 5,199 | 5,904 | 6,523 | 8,814 | 9,494 | 10,505 | 12,076 | 13,984 | 15,433 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 552 | 907 | 794 | 796 | 845 | 1,280 | 1,392 | 955 | 1,558 | 2,724 | 2,287 | 2,828 | |
| -436 | -491 | -879 | 39 | -513 | 103 | -1,688 | -558 | -899 | -1,769 | -1,542 | -1,224 | |
| -165 | -371 | 41 | -790 | -361 | -849 | -76 | -468 | -656 | -742 | -918 | -1,673 | |
| Net Cash Flow | -49 | 45 | -45 | 46 | -29 | 533 | -372 | -71 | 2 | 212 | -173 | -68 |
| Free Cash Flow | 143 | 742 | 671 | 524 | 591 | 836 | 1,040 | 581 | 1,060 | 2,171 | 1,839 | 2,239 |
| CFO/OP | 94% | 104% | 92% | 91% | 91% | 106% | 105% | 76% | 99% | 124% | 100% | 105% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 44 | 48 | 50 | 56 | 54 | 54 | 66 | 53 | 47 | 49 | 50 | 55 |
| Inventory Days | 88 | 89 | 100 | 102 | 95 | 100 | 133 | 114 | 98 | 86 | 103 | 98 |
| Days Payable | 45 | 53 | 54 | 69 | 59 | 67 | 109 | 70 | 57 | 70 | 85 | 86 |
| Cash Conversion Cycle | 86 | 84 | 96 | 89 | 90 | 88 | 91 | 96 | 88 | 66 | 68 | 66 |
| Working Capital Days | 27 | 36 | 40 | 49 | 48 | 36 | 23 | 43 | 40 | 19 | 19 | 116 |
| ROCE % | 32% | 45% | 39% | 36% | 33% | 33% | 28% | 25% | 24% | 30% | 30% | 31% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
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| Underlying Volume Growth (Total Standalone) % ・Standalone data |
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| Total Retail Outlet Reach Million |
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| Number of Manufacturing Plants (India) Count |
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Extracted by Screener AI
Documents
Announcements
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Audio Recording Q4FY26 Earnings Call
16h - Q4 FY26 earnings call audio recording uploaded on 8 May 2026.
- Announcement under Regulation 30 (LODR)-Investor Presentation 1d
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Pidilite reported Q4 FY26 revenue growth, 15.3% UVG, stronger margins, and proposed Rs 11.5 dividend.
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Audited Financial Results (Standalone And Consolidated) For The Year Ended 31St March, 2026
1d - Pidilite reported FY26 audited results and recommended Rs 11.50 dividend per share.
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Board Meeting Outcome for Audited Financial Results (Standalone And Consolidated) For The Year Ended 31St March, 2026
1d - Pidilite approved FY26 audited standalone/consolidated results and recommended Rs 11.50 final dividend.
Annual reports
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Financial Year 2025
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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Revenue Breakup
Company earns about 53% of its revenues from adhesives & sealants category, followed by Construction & paint chemicals (20%), industrial resins & construction chemicals (7%), art & craft materials (6%), industrial adhesives (6%), and pigment & preparation (6%)..
It has its business divided into 2 divisions, consumer & bazaar products which account for ~80% of revenues, and B2B products segment which accounts for ~20% of revenues [1] In total,the company produces ~6500 products for its brands. [2]