Pidilite Industries Limited Q2FY21 results update

Last updated: 05 Nov, 2020 | 01:41 pm

Pidilite Industries Limited Q2FY21 results update

Pidilite Industries Limited, India’s leading manufacturer of adhesives, sealants and construction chemicals today announced its financial results for the quarter ending September 2020.

Profit: Pidilite declared a consolidated Net Profit of ₹ 357 crore, a rise of 10% year-on-year, aided by benign input costs as well as strong cost optimisation measures. 

EBITDA: EBITDA stood at ₹ 357 crore on a consolidated basis, a rise of 39% year-on-year. 

Sales: Net Sales stood at ₹ 1,857 crore on a consolidated level, a 3% increase year-on-year, with standalone sales of ₹ 1,620 crore, a rise of 4% year-on-year.

The quarter saw steady demand improvement each month, with Construction Chemicals showing healthy growth, while the B2B segment continued to face headwinds, showing signs of recovery in the latter part of the quarter.

Expenses: The expenses were down 4.21% year-on-year to ₹ 1,424.23 crore.

Acquisition: The company completed acquisition of the US-based Huntsman Group's Indian subsidiary for ₹ 2,100 crore. As per the filing, Pidilite acquired 100% stake in Huntsman Advanced Materials Solutions Private Ltd (HAMSPL), which manufactures and sells Adhesives, Sealants and other products under well-known brands such as Araldite, Araldite Karpenter and Araseal.

The stocks closed at ₹ 1,589.4 today, up 1.72% from yesterday. The company said in its filing that growth has normalized, reaching pre-covid levels for the consumer and bazaar segment, with international subsidiaries reporting healthy double-digit growth. The company remains cautiously optimistic on steady demand recovery, with a focus to drive volume growth via investment in brand, sales and distribution fostered with consumer relevant innovation.

Finzoom Investment Advisors Private Limited (Brand Name - INDmoney, INDwealth, IND.app, IND.money, INDsave.com) makes no warranties or representations, express or implied, on products and services offered through the platform. It accepts no liability for any damages or losses, however, caused in connection with the use of, or on the reliance of its advisory or related services.

Past performance is not indicative of future returns. Please consider your specific investment requirements, risk tolerance, goal, time frame, risk and reward balance and the cost associated with the investment before choosing a fund, or designing a portfolio that suits your needs. Performance and returns of any investment portfolio can neither be predicted nor guaranteed.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Marketing and distribution of various financial products such as loans and deposits are powered by Finzoomers Services Private Limited.

INDmoney, INDwealth, IND.app are brand and product of Finzoom Investment Advisors (P) Limited.

© Finzoom Investment Advisors Private Limited

[SEBI RIA Registration No: INA100012190] [Type of Registration: Non-Individual] [Validity of registration: December 17, 2018-Perpetual] [Address: 616, 6th Floor, Suncity Success Tower, Golf Course Extension Road, Sector – 65, Gurugram, Haryana- 122005] [Principal Officer details: Mr. Gaurav Sharma, Email id: principalofficer@indwealth.in, Contact No. 8800826254] [Corresponding SEBI local office address: Securities and Exchange Board of India, Local Office, First Floor, SCO 127-128, Sector 17C, Chandigarh-160017]

[ARN - 151913] [Platform Partner : BSE (Member code-24801)] [CIN - U67190HR2018PTC073294] [GST No : 06AADCF3538Q1Z8]