Pidilite Industries (PIDILITIND) Q4 25/26 earnings summary

Executive summary

• Achieved strong revenue and volume growth in Q4 and FY26, with robust margin expansion and improved profitability across both standalone and consolidated results.

• Consumer & Bazaar segment led growth, while B2B segment maintained momentum despite export headwinds.

• Audited standalone and consolidated financial results for the year ended 31 March 2026 were approved, with an unmodified audit opinion issued by statutory auditors.

• Board recommended a final dividend of Rs 11.50 per equity share, in addition to a special interim dividend of Rs 5-10 per share (pre-bonus).

• A 1:1 bonus share issue was completed in September 2025, doubling the equity base.

Financial highlights

• Q4 consolidated revenue grew 14.1% YoY to Rs 3,572 Cr; EBITDA margin improved by ~310 bps to 23.3%-23.4%.

• FY26 consolidated revenue reached Rs 14,600.83 crore, up 11.1% YoY; EBITDA margin expanded by ~120 bps to 24.2%.

• Q4 PAT up 36.6% YoY to Rs 584 Cr; FY26 PAT up 17.9% YoY to Rs 2,471 Cr.

• Gross margin for Q4 at 55.6%, up ~100 bps YoY; EBITDA margin at 23.4%, up ~280 bps YoY.

• Dividend payout ratio for FY26 at 70.2%, with a proposed final dividend of Rs 11.5 per share and special interim dividend.

Outlook and guidance

• Management remains committed to double-digit underlying volume growth, focusing on disciplined demand generation and calibrated price increases.

• EBITDA margin guidance corridor remains at 20%-24% for FY 2027, with expectations to stay within this range despite raw material inflation.

• Expects continued domestic demand momentum and disciplined execution amid supply-side challenges.

• Strategic focus on profitable, volume-led growth through innovation, brand building, and supply chain strengthening.

• The company continues to monitor regulatory changes, especially the implementation of new labour codes, and will adjust accounting as needed.