Pidilite Industries (PIDILITIND) Q4 24/25 earnings summary

Executive summary

• Q4 FY25 standalone revenue grew 10.2% year-over-year, driven by 9.8% underlying volume growth across categories and geographies.

• Consumer & Bazaar segment saw 8% volume growth, while B2B segment achieved 16.4% growth in Q4.

• Gross margins improved year-over-year due to softer input prices, with Q4 gross margin up 154 bps and full-year up 254 bps.

• Domestic subsidiaries posted double-digit sales and EBITDA growth; international subsidiaries' sales were flat due to festive holidays.

• Board recommended a dividend of Rs 20 per share for FY25, subject to shareholder approval.

Financial highlights

• Q4 consolidated revenue was Rs 3,130 crore (+8.3% YoY); Q4 consolidated EBITDA was Rs 633 crore (+9.7% YoY); Q4 PAT was Rs 428 crore (+40.5% YoY).

• FY25 consolidated revenue reached Rs 13,140.31 crore, up from Rs 12,382.99 crore in FY24; consolidated PAT was Rs 2,096.17 crore, up from Rs 1,747.42 crore.

• Standalone FY25 revenue was Rs 12,072.70 crore, up from Rs 11,166.97 crore in FY24; standalone PAT was Rs 2,073.83 crore, up from Rs 1,799.47 crore.

• Dividend payout ratio for FY25 was 48.6%.

• Basic EPS (consolidated) for FY25 was Rs 40.82, up from Rs 34.01 in FY24.

Outlook and guidance

• Management expects double-digit profitable underlying volume growth to continue in FY26, barring prolonged geopolitical or macroeconomic uncertainty.

• Urban growth improved in Q4, while rural growth remains ahead of urban.

• Cautious optimism for FY26, with main risk being the duration of global geopolitical and economic uncertainty.