PIDILITIND · Chemicals
Pidilite Industries Ltd. reported revenue of ₹3,130 cr for October to December 2023, — on the year and +1.8% on the quarter.
Operating profit (EBITDA) was ₹742 cr, a margin of 23.7%, — on the year and +166 bps on the quarter.
Net profit was ₹511 cr, — on the year and +11.3% on the quarter, with earnings per share of ₹5.02.
Speciality chemicals are read on volumes and pricing, with Chinese supply a recurring swing factor; inventory destocking can hit a quarter without a change in demand. The quarterly statements do not carry volumes against prices, capacity utilisation and new molecules; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3,130 cr | ₹2,902 cr | ₹3,395 cr | ₹3,235 cr | ₹3,369 cr | ₹3,141 cr | ₹3,753 cr | ₹3,554 cr | ₹3,710 cr | ₹3,583 cr | ₹4,552 cr | ₹4,298 cr |
| YoY | — | — | +4% | +5% | +8% | +8% | +11% | +10% | +10% | +14% | +21% | +21% |
| EBITDA margin | 23.7% | 19.8% | 23.9% | 23.7% | 23.7% | 20.1% | 25.1% | 23.9% | 24.1% | 23.2% | 26.2% | 20.4% |
| Other income, % of PBT | 5% | −5% | 7% | 8% | 7% | 10% | 9% | 6% | 7% | 7% | 9% | 8% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 29% | 26% | 25% | 26% | 26% | 26% | 26% | 26% | 25% | 26% | 25% |
| Net profit | ₹511 cr | ₹304 cr | ₹571 cr | ₹540 cr | ₹557 cr | ₹428 cr | ₹678 cr | ₹585 cr | ₹624 cr | ₹584 cr | ₹884 cr | ₹626 cr |
| YoY | — | — | +20% | +18% | +9% | +41% | +19% | +8% | +12% | +36% | +30% | +7% |
| Core profit YoY | — | — | +15% | +13% | +7% | +16% | +16% | +10% | +12% | +38% | +30% | +4% |
| EPS | ₹5.02 | ₹2.96 | ₹5.57 | ₹5.26 | ₹5.43 | ₹4.15 | ₹6.61 | ₹5.69 | ₹6.07 | ₹5.69 | ₹8.57 | ₹6.03 |
| Flags | · | · | ✓ | ✓ | ✓ | 2 | ✓ | ✓ | ✓ | ✓ | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Pidilite Industries Ltd. reported revenue of ₹3,130 cr (— on the year) and net profit of ₹511 cr (— on the year) for October to December 2023.
None of the 2 checks that could run raised a question.
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