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 ₹ 1,54,869 Cr.
- Current Price ₹ 1,520
- High / Low ₹ 1,708 / 1,259
- Stock P/E 58.5
- Book Value ₹ 106
- Dividend Yield 0.76 %
- 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 48.0%
Cons
- Stock is trading at 14.3 times its book value
* 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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,844 | 5,361 | 5,617 | 6,078 | 7,078 | 7,294 | 7,293 | 9,921 | 11,799 | 12,383 | 13,140 | 14,601 | 15,399 | |
| 4,073 | 4,188 | 4,355 | 4,737 | 5,707 | 5,718 | 5,606 | 8,065 | 9,813 | 9,675 | 10,130 | 11,080 | 11,630 | |
| Operating Profit | 771 | 1,173 | 1,262 | 1,341 | 1,371 | 1,576 | 1,686 | 1,856 | 1,986 | 2,708 | 3,011 | 3,521 | 3,769 |
| OPM % | 16% | 22% | 22% | 22% | 19% | 22% | 23% | 19% | 17% | 22% | 23% | 24% | 24% |
| 40 | 81 | 115 | 153 | 130 | 97 | 74 | 39 | 55 | 63 | 221 | 248 | 275 | |
| Interest | 16 | 13 | 14 | 16 | 26 | 34 | 37 | 42 | 48 | 51 | 50 | 54 | 54 |
| Depreciation | 118 | 100 | 115 | 120 | 133 | 170 | 201 | 240 | 270 | 341 | 358 | 395 | 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 | 3,596 |
| 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 | 2,676 | |
| 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 | 26.02 |
| Dividend Payout % | 29% | 26% | 28% | 32% | 36% | 32% | 38% | 42% | 44% | 47% | 49% | 48% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 15% |
| 3 Years: | 7% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 17% |
| 3 Years: | 25% |
| TTM: | 20% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 4% |
| 3 Years: | 7% |
| 1 Year: | 3% |
| 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 | 4,149 | |
| Total Liabilities | 3,315 | 3,714 | 4,770 | 5,199 | 5,904 | 6,523 | 8,814 | 9,494 | 10,505 | 12,076 | 13,984 | 15,399 |
| 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 | 4,947 | |
| Total Assets | 3,315 | 3,714 | 4,770 | 5,199 | 5,904 | 6,523 | 8,814 | 9,494 | 10,505 | 12,076 | 13,984 | 15,399 |
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 / 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 | 18 |
| 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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Capex (Capital Expenditure) Rs Crore |
|
|||||||||||
| Consumer & Bazaar (C&B) Segment Revenue Share % of total sales ・Standalone data |
||||||||||||
| International Subsidiaries Revenue Rs Crore |
||||||||||||
| Number of Manufacturing Plants (India) count ・Standalone data |
||||||||||||
| Number of Dr. Fixit Centers count ・Standalone data |
||||||||||||
| Number of Pidilite Ki Duniya (PKD) outlets count ・Standalone data |
||||||||||||
| Number of Roff Premium Partners count ・Standalone data |
||||||||||||
| Underlying Volume Growth (UVG) - Standalone % YoY ・Standalone data |
||||||||||||
Extracted by Screener AI
Documents
Announcements
-
Intimation Under Regulation 30 Of The SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015
- PVPL to sell Finemake stake to founders by 15 October 2026; Finemake contributed 0.06% revenue.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Pidilite and Hwaseung Chemical partner on advanced footwear adhesives for India on 28 Sept 2026.
- Closure of Trading Window
-
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
- Allotment of Equity shares pursuant to Employee Stock Option Plan 2016
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Annual reports
-
Annual Report 2026
from bse
-
Annual Report 2025
from bse
-
Annual Report 2024
from bse
-
Annual Report 2023
from bse
-
Annual Report 2022
from bse
-
Annual Report 2021
from bse
-
Annual Report 2020
from bse
-
Annual Report 2019
from bse
-
Annual Report 2018
from bse
-
Annual Report 2017
from bse
-
Annual Report 2016
from bse
-
Annual Report 2015
from bse
-
Annual Report 2014
from bse
-
Annual Report 2013
from nse
-
Annual Report 2013
from bse
Concalls
-
Aug 2026Transcript PPT REC
-
May 2026Transcript PPT REC
-
May 2026PPT
-
Feb 2026Transcript PPT REC
-
Feb 2026PPT
-
Nov 2025Transcript PPT REC
-
Aug 2025Transcript PPT
-
May 2025Transcript PPT
-
May 2025PPT
-
Mar 2025PPT
-
Feb 2025Transcript PPT REC
-
Jan 2025PPT
-
Oct 2024Transcript PPT REC
-
Aug 2024Transcript PPT REC
-
May 2024Transcript PPT REC
-
May 2024PPT
-
Mar 2024PPT
-
Jan 2024Transcript PPT
-
Nov 2023Transcript PPT
-
Aug 2023Transcript PPT
-
Aug 2023PPT
-
May 2023Transcript PPT
-
May 2023PPT
-
Feb 2023Transcript PPT
-
Jan 2023PPT
-
Nov 2022Transcript PPT
-
Aug 2022Transcript PPT
-
May 2022Transcript PPT
-
Feb 2022Transcript PPT
-
Jan 2022PPT
-
Nov 2021Transcript PPT
-
Aug 2021Transcript PPT
-
May 2021Transcript PPT
-
Feb 2021Transcript PPT
-
Feb 2021Transcript PPT
-
Dec 2020Transcript PPT
-
Nov 2020Transcript PPT
-
Aug 2020PPT
-
Aug 2020Transcript PPT
-
Aug 2020Transcript PPT
-
Jun 2020Transcript PPT
-
Jun 2020PPT
-
Feb 2020Transcript PPT
-
Feb 2020Transcript PPT
-
Jan 2020PPT
-
Dec 2019Transcript
-
Nov 2019Transcript PPT
-
Nov 2019PPT
-
Aug 2019Transcript
-
Aug 2019Transcript PPT
-
Jul 2019PPT
-
Jun 2019Transcript PPT
-
May 2019Transcript PPT
-
Feb 2019Transcript PPT
-
Jan 2019Transcript PPT
-
Nov 2018Transcript
-
Nov 2018Transcript PPT
-
Sep 2018Transcript PPT
-
Aug 2018Transcript PPT
-
Aug 2018PPT
-
Jun 2018Transcript PPT
-
Jun 2018Transcript PPT
-
Feb 2018Transcript PPT
-
Feb 2018Transcript PPT
-
Jan 2018PPT
-
Nov 2017Transcript
-
Nov 2017Transcript PPT
-
Sep 2017Transcript PPT
-
Aug 2017Transcript PPT
-
May 2017Transcript PPT
-
Feb 2017Transcript PPT
-
Feb 2017PPT
-
Nov 2016Transcript PPT
-
Aug 2016Transcript PPT
-
Jun 2016Transcript PPT
-
May 2016Transcript PPT
-
Feb 2016Transcript PPT
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 ~650
products for its brands. [2]