Pidilite Industries (PIDILITIND) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 saw consolidated revenue rise 10.6% year-over-year to INR 3,742 crore, with EBITDA up 15.8% and profit after tax growing nearly 18.7%.

• Bonus issue and special interim dividend of INR 10 per share announced to commemorate the founder's 101st birth anniversary.

• Standalone and consolidated unaudited financial results for the quarter ended 30 June 2025 were approved by the Board on 6 August 2025.

• Statutory auditors issued an unmodified limited review opinion on both standalone and consolidated results.

• Cautious optimism for the domestic market amid improving demand and liquidity, with monitoring of geopolitical risks.

Financial highlights

• Standalone revenue grew 10.6% year-over-year to INR 3,467 crore, with underlying volume growth of 9.9%.

• Standalone EBITDA margin improved by 101 bps to 25.6%; profit before tax and exceptional items rose 18.5%.

• Consolidated revenue from operations for Q1 FY26 was ₹3,753.1 crore, up from ₹3,395.4 crore in Q1 FY25.

• Standalone net profit for Q1 FY26 was ₹649.8 crore, compared to ₹551.6 crore in Q1 FY25.

• International subsidiaries' revenue up 6.5% and EBITDA up 9% YoY.

Outlook and guidance

• Management expects to maintain or improve underlying volume growth, supported by robust demand and successful innovations.

• EBITDA margin guidance remains in the 22%-24% corridor, likely at the higher end due to benign input costs.

• Pricing growth is expected to remain low single-digit, with no major price hikes anticipated unless input costs rise.

• Expecting steady demand, especially in construction, supported by good monsoons and lower interest rates.

• Remain vigilant regarding global geopolitical developments and potential supply chain disruptions.