Pidilite Industries Ltd — earnings calls

Pidilite reported standalone Q1 FY27 revenue growth of 22.2% to Rs 4,237 crores, with underlying volume growth of 11.3%, driven by price increases taken to offset input cost inflation. EBITDA margin expanded to 26.4% aided by proactive pricing and lower-cost inventory consumption, while B2B exports declined due to geopolitical disruptions in key markets. Management discussed competitive dynamics in tile adhesives and waterproofing, progress on new product launches including Fevicol X-PER, M-Seal Advanced and UnoFin, and reiterated its long-standing 20% to 24% EBITDA margin range for the year.

Pidilite reported standalone Q4 FY26 revenue of Rs 3,272 crore, up 15.3% with underlying volume growth of 15.3%, and EBITDA margin expansion of 280 basis points to 23.4%. Management attributed the acceleration to broad-based demand buoyancy across Consumer and Bazaar and B2B segments, while noting export disruption in March due to the Gulf and West Asia conflict. Management also discussed raw material inflation of 40-50% on a weighted average basis and price increases taken in April and May in response.