Last Updated on January 24, 2024 by ethinos
Table of Content
Key Highlights on Current Quarter’s Performance:
Revenue Growth:
- UVG (Underlying Volume Growth) of 10.4% significantly contributed to the current quarter’s revenue growth.
- Growth observed across Consumer and Bazaar (C&B) and Business to Business (B2B) segments, both reporting double-digit UVG.
- Urban and Rural markets both expanded, with rural and small-town markets surpassing urban growth.
- Export demand remained robust with double-digit UVG.
Additional Read: Q3 Results Dashboard
Standalone Revenue Details:
- Standalone revenue for the quarter increased by 5%, propelled by strong UVG across various categories and geographies.
- C&B segment achieved a growth of 5.5%, while B2B segment grew by 4.6%.
- Moderation in input prices led to pricing adjustments, resulting in expanding Standalone Gross Margins both sequentially and year on year.
Financial Margins and Investments:
- Standalone Gross Margins expanded by 1,191 bps over Q3 FY23 and 174 bps over Q2 FY24.
- Continued focus on brand investment and customer-facing initiatives during the quarter.
- EBITDA Margins improved by 776 bps over Q3 FY23 and 188 bps over Q2 FY24.
- Investment in a resilient supply chain with the commissioning of one new plant, totaling nine in the current year.
Distribution and Innovation:
- Increased distribution touchpoints across urban and rural India, leveraging digitization.
- Innovation in both C&B and B2B segments remained a significant contributor to overall company revenues.
International and Domestic Subsidiaries:
- International subsidiaries (excluding Pidilite USA Inc.) reported modest sales growth with doubled EBITDA over Q3 FY23.
- Domestic subsidiaries recorded robust sales growth, with both C&B and B2B subsidiaries achieving double-digit growth.
Financial Performance Overview:
Net Sales Growth
- The net sales for the current quarter amounted to Rs 3,119 Cr, marking a significant growth of 4% compared to the corresponding quarter of the previous year.
- The cumulative net sales for the nine months ended reached Rs 9,447 Cr, exhibiting a commendable 4% increase over the same period last year.
EBITDA Expansion:
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) before non-operating income recorded an impressive growth, reaching Rs 742 Cr for the current quarter. This represents a remarkable 50% increase compared to the corresponding quarter of the preceding year.
- Over the nine months period, the EBITDA stood at Rs 2,129 Cr, demonstrating substantial growth of 40% over the same period last year.
Profitability Surge:
- Profit before Tax and Exceptional Items (PBT) exhibited robust growth, reaching Rs 687 Cr for the current quarter. This signifies an outstanding increase of 64% compared to the same quarter last year.
- For the nine months ended, the PBT amounted to Rs 1,953 Cr, showcasing a notable growth of 47% over the corresponding period last year.
Net Profit Enhancement:
- The Profit after Tax (PAT) for the current quarter surged to Rs 511 Cr, marking an impressive growth of 66% over the same quarter last year.
- The cumulative PAT for the nine months reached Rs 1,443 Cr, reflecting a substantial growth of 44% over the same period last year.
Standalone Performance:
Net Sales Expansion:
- The net sales for the current quarter amounted to Rs 2,823 Cr, showcasing a commendable growth of 5% compared to the corresponding quarter of the previous year.
- Over the nine months period, the cumulative net sales reached Rs 8,542 Cr, reflecting a solid 4% increase over the same period last year.
EBITDA Surge:
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) before non-operating income displayed robust growth, reaching Rs 708 Cr for the current quarter. This represents a remarkable 51% increase compared to the corresponding quarter of the preceding year.
- Over the nine months period, the EBITDA stood at Rs 2,022 Cr, demonstrating substantial growth of 42% over the same period last year.
Exceptional Growth in Profitability:
- Profit before Tax and Exceptional Items (PBT) witnessed an outstanding surge, reaching Rs 694 Cr for the current quarter. This signifies an exceptional increase of 72% compared to the same quarter last year.
- For the nine months ended, the PBT amounted to Rs 1,934 Cr, showcasing a noteworthy growth of 51% over the corresponding period last year.
Profit After Tax Soars:
- The Profit after Tax (PAT) for the current quarter recorded an impressive surge, reaching Rs 523 Cr, marking a substantial growth of 76% over the same quarter last year.
- The cumulative PAT for the nine months stood at Rs 1,445 Cr, reflecting a robust 50% growth over the same period last year.
Additional Check: Pidilite Industries Limited Share Price
About Pidilite Industries Limited
Pidilite Industries Limited stands as a prominent manufacturer in India, specialising in various product categories, including adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) solutions, and polymer emulsions. Pidilite Industries Limited’s extensive product line extends to encompass paint chemicals, automotive chemicals, art materials, stationery, fabric care, maintenance chemicals, industrial adhesives, industrial resins, and organic pigments & preparations.
The majority of Pidilite Industries Limited’s products are the result of rigorous in-house Research and Development efforts, reflecting our commitment to innovation and quality. This approach ensures that our offerings align with the highest industry standards. The brand name “Fevicol” has earned widespread recognition and trust, becoming synonymous with adhesives for millions in India. Fevicol is consistently ranked among the most trusted brands in the country. Beyond Fevicol, our portfolio includes other significant brands such as M-Seal, Fevikwik, Fevistik, Roff, Dr. Fixit, Araldite, and Fevicryl.
Pidilite Industries Limited continues to lead the market by offering a diverse and comprehensive range of products, underpinned by a robust foundation of research and a strong brand legacy.
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Sources : https://www.bseindia.com/corporates/anndet_new.aspx?newsid=d2df8341-f3b4-46ca-993a-ec982678b500
