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 ₹ 1,48,198 Cr.
- Current Price ₹ 1,455
- High / Low ₹ 1,708 / 1,259
- Stock P/E 56.0
- Book Value ₹ 106
- Dividend Yield 0.78 %
- 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 13.6 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: | 15% |
| 5 Years: | 5% |
| 3 Years: | 8% |
| 1 Year: | -2% |
| 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/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 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 |
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| Consumer & Bazaar (C&B) Segment Revenue Share % of total sales ・Standalone data |
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| Number of Manufacturing Plants (India) count ・Standalone data |
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| Underlying Volume Growth (UVG) - Standalone % YoY ・Standalone data |
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| International Subsidiaries Revenue Rs Crore |
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| Number of Dr. Fixit Centers count ・Standalone data |
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| Number of Pidilite Ki Duniya (PKD) outlets count ・Standalone data |
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| Number of Roff Premium Partners count ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
- Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
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Intimation Regarding Grant Of Stock Options
- Pidilite granted 1,44,270 stock options under ESOP-2016 on 27 October 2026.
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Intimation Of Q2FY27 Earnings Call
- Pidilite will hold Q2FY27 earnings conference call on 29 October 2026 at 3:30 PM.
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Board Meeting Intimation for Intimation Of Date Of Board Meeting For Consideration Of
Unaudited Financial Results For The Second Quarter Ended 30.09.2026
- Board meeting on 28 Oct 2026 to consider Q2 FY2027 unaudited financial results.
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Appointment Of Senior Management Personnel
- Pidilite appointed Amit Agarwal as CFO Designate and Senior Management Personnel effective 9 October 2026.
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2013
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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 ~650
products for its brands. [2]