| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,076 | 3,130 | 2,902 | 3,395 | 3,235 | 3,369 | 3,141 | 3,753 | 3,554 | 3,710 | 3,583 | 4,552 | |
Growth YoY Revenue Growth YoY% | 2.1 | 4.4 | 7.9 | 3.7 | 5.2 | 7.6 | 8.3 | 10.5 | 9.9 | 10.1 | 14.1 | 21.3 |
| 2,396 | 2,388 | 2,325 | 2,583 | 2,466 | 2,571 | 2,509 | 2,812 | 2,704 | 2,815 | 2,751 | 3,358 | |
| 680 | 742 | 577 | 813 | 769 | 798 | 633 | 941 | 851 | 894 | 833 | 1,194 | |
OPM OPM% | 22.1 | 23.7 | 19.9 | 23.9 | 23.8 | 23.7 | 20.1 | 25.1 | 23.9 | 24.1 | 23.2 | 26.2 |
| 30 | 37 | -25 | 53 | 56 | 55 | 55 | 86 | 50 | 60 | 55 | 109 | |
Interest Expense Interest ExpenseCr | 13 | 13 | 13 | 12 | 12 | 12 | 14 | 14 | 13 | 13 | 14 | 13 |
Depreciation DepreciationCr | 75 | 79 | 113 | 84 | 88 | 90 | 97 | 97 | 100 | 101 | 97 | 97 |
PBT PBTCr | 622 | 687 | 426 | 770 | 725 | 752 | 576 | 916 | 787 | 840 | 777 | 1,192 |
| 163 | 177 | 122 | 198 | 185 | 195 | 149 | 238 | 203 | 216 | 193 | 308 | |
| 459 | 511 | 304 | 571 | 540 | 557 | 428 | 678 | 585 | 624 | 584 | 884 | |
Growth YoY PAT Growth YoY% | 35.8 | 66.0 | 6.5 | 20.6 | 17.8 | 9.0 | 40.5 | 18.7 | 8.2 | 12.0 | 36.6 | 30.3 |
NPM NPM% | 14.9 | 16.3 | 10.5 | 16.8 | 16.7 | 16.5 | 13.6 | 18.1 | 16.4 | 16.8 | 16.3 | 19.4 |
| 4.4 | 5.0 | 3.0 | 5.6 | 5.3 | 5.4 | 4.2 | 6.6 | 5.7 | 6.1 | 5.7 | 8.6 |
| Quarter | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,076 | 3,130 | 2,902 | 3,395 | 3,235 | 3,369 | 3,141 | 3,753 | 3,554 | 3,710 | 3,583 | 4,552 | |
Growth YoY Revenue Growth YoY% | 2.1 | 4.4 | 7.9 | 3.7 | 5.2 | 7.6 | 8.3 | 10.5 | 9.9 | 10.1 | 14.1 | 21.3 |
| 2,396 | 2,388 | 2,325 | 2,583 | 2,466 | 2,571 | 2,509 | 2,812 | 2,704 | 2,815 | 2,751 | 3,358 | |
| 680 | 742 | 577 | 813 | 769 | 798 | 633 | 941 | 851 | 894 | 833 | 1,194 | |
OPM OPM% | 22.1 | 23.7 | 19.9 | 23.9 | 23.8 | 23.7 | 20.1 | 25.1 | 23.9 | 24.1 | 23.2 | 26.2 |
| 30 | 37 | -25 | 53 | 56 | 55 | 55 | 86 | 50 | 60 | 55 | 109 | |
Interest Expense Interest ExpenseCr | 13 | 13 | 13 | 12 | 12 | 12 | 14 | 14 | 13 | 13 | 14 | 13 |
Depreciation DepreciationCr | 75 | 79 | 113 | 84 | 88 | 90 | 97 | 97 | 100 | 101 | 97 | 97 |
PBT PBTCr | 622 | 687 | 426 | 770 | 725 | 752 | 576 | 916 | 787 | 840 | 777 | 1,192 |
| 163 | 177 | 122 | 198 | 185 | 195 | 149 | 238 | 203 | 216 | 193 | 308 | |
| 459 | 511 | 304 | 571 | 540 | 557 | 428 | 678 | 585 | 624 | 584 | 884 | |
Growth YoY PAT Growth YoY% | 35.8 | 66.0 | 6.5 | 20.6 | 17.8 | 9.0 | 40.5 | 18.7 | 8.2 | 12.0 | 36.6 | 30.3 |
NPM NPM% | 14.9 | 16.3 | 10.5 | 16.8 | 16.7 | 16.5 | 13.6 | 18.1 | 16.4 | 16.8 | 16.3 | 19.4 |
| 4.4 | 5.0 | 3.0 | 5.6 | 5.3 | 5.4 | 4.2 | 6.6 | 5.7 | 6.1 | 5.7 | 8.6 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 5,361 | 5,617 | 6,078 | 7,078 | 7,294 | 7,293 | 9,921 | 11,799 | 12,383 | 13,140 | 14,601 | 15,399 |
Growth Revenue Growth% | 10.7 | 4.8 | 8.2 | 16.4 | 3.1 | 0.0 | 36.0 | 18.9 | 5.0 | 6.1 | 11.1 | 14.1 |
| 4,188 | 4,357 | 4,737 | 5,710 | 5,718 | 5,612 | 8,074 | 9,815 | 9,676 | 10,128 | 11,082 | 11,627 | |
| 1,173 | 1,260 | 1,341 | 1,368 | 1,576 | 1,681 | 1,847 | 1,984 | 2,707 | 3,013 | 3,519 | 3,772 | |
OPM OPM% | 21.9 | 22.4 | 22.1 | 19.3 | 21.6 | 23.1 | 18.6 | 16.8 | 21.9 | 22.9 | 24.1 | 24.5 |
| 81 | 118 | 153 | 132 | 97 | 80 | 48 | 56 | 64 | 219 | 250 | 273 | |
Interest Expense Interest ExpenseCr | 13 | 14 | 16 | 26 | 34 | 37 | 42 | 48 | 51 | 50 | 54 | 54 |
Depreciation DepreciationCr | 100 | 115 | 120 | 133 | 170 | 201 | 240 | 270 | 341 | 358 | 395 | 395 |
PBT PBTCr | 1,141 | 1,248 | 1,359 | 1,342 | 1,470 | 1,522 | 1,614 | 1,723 | 2,379 | 2,823 | 3,320 | 3,596 |
| 334 | 385 | 393 | 413 | 348 | 396 | 407 | 434 | 632 | 727 | 849 | 920 | |
PAT PATCr | 807 | 863 | 966 | 928 | 1,122 | 1,126 | 1,207 | 1,289 | 1,747 | 2,096 | 2,471 | 2,676 |
Growth PAT Growth% | 58.7 | 6.9 | 11.9 | -3.9 | 20.9 | 0.4 | 7.2 | 6.8 | 35.6 | 20.0 | 17.9 | 21.5 |
NPM NPM% | 15.1 | 15.4 | 15.9 | 13.1 | 15.4 | 15.4 | 12.2 | 10.9 | 14.1 | 15.9 | 16.9 | 17.4 |
| 7.8 | 8.4 | 9.5 | 9.1 | 11.0 | 11.1 | 11.9 | 12.5 | 17.0 | 20.4 | 24.1 | 26.0 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue RevenueCr | 5,361 | 5,617 | 6,078 | 7,078 | 7,294 | 7,293 | 9,921 | 11,799 | 12,383 | 13,140 | 14,601 | 15,399 |
Growth Revenue Growth% | 10.7 | 4.8 | 8.2 | 16.4 | 3.1 | 0.0 | 36.0 | 18.9 | 5.0 | 6.1 | 11.1 | 14.1 |
| 4,188 | 4,357 | 4,737 | 5,710 | 5,718 | 5,612 | 8,074 | 9,815 | 9,676 | 10,128 | 11,082 | 11,627 | |
| 1,173 | 1,260 | 1,341 | 1,368 | 1,576 | 1,681 | 1,847 | 1,984 | 2,707 | 3,013 | 3,519 | 3,772 | |
OPM OPM% | 21.9 | 22.4 | 22.1 | 19.3 | 21.6 | 23.1 | 18.6 | 16.8 | 21.9 | 22.9 | 24.1 | 24.5 |
| 81 | 118 | 153 | 132 | 97 | 80 | 48 | 56 | 64 | 219 | 250 | 273 | |
Interest Expense Interest ExpenseCr | 13 | 14 | 16 | 26 | 34 | 37 | 42 | 48 | 51 | 50 | 54 | 54 |
Depreciation DepreciationCr | 100 | 115 | 120 | 133 | 170 | 201 | 240 | 270 | 341 | 358 | 395 | 395 |
PBT PBTCr | 1,141 | 1,248 | 1,359 | 1,342 | 1,470 | 1,522 | 1,614 | 1,723 | 2,379 | 2,823 | 3,320 | 3,596 |
| 334 | 385 | 393 | 413 | 348 | 396 | 407 | 434 | 632 | 727 | 849 | 920 | |
PAT PATCr | 807 | 863 | 966 | 928 | 1,122 | 1,126 | 1,207 | 1,289 | 1,747 | 2,096 | 2,471 | 2,676 |
Growth PAT Growth% | 58.7 | 6.9 | 11.9 | -3.9 | 20.9 | 0.4 | 7.2 | 6.8 | 35.6 | 20.0 | 17.9 | 21.5 |
NPM NPM% | 15.1 | 15.4 | 15.9 | 13.1 | 15.4 | 15.4 | 12.2 | 10.9 | 14.1 | 15.9 | 16.9 | 17.4 |
| 7.8 | 8.4 | 9.5 | 9.1 | 11.0 | 11.1 | 11.9 | 12.5 | 17.0 | 20.4 | 24.1 | 26.0 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 513 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 102 |
Reserves ReservesCr | 2,587 | 3,420 | 3,523 | 4,097 | 4,405 | 5,542 | 6,353 | 7,161 | 8,356 | 9,704 | 10,730 |
| 915 | 1,022 | 1,208 | 1,301 | 1,615 | 2,435 | 2,325 | 2,411 | 2,798 | 3,290 | 3,585 | |
| 123 | 154 | 247 | 259 | 250 | 563 | 588 | 668 | 689 | 764 | 799 | |
| 3,719 | 4,774 | 5,204 | 5,915 | 6,536 | 8,830 | 9,516 | 10,525 | 12,104 | 14,011 | 15,433 | |
| 2,151 | 3,134 | 3,309 | 3,582 | 3,761 | 3,515 | 4,016 | 4,562 | 5,836 | 7,462 | 8,532 | |
| 1,568 | 1,640 | 1,896 | 2,333 | 2,775 | 5,315 | 5,500 | 5,964 | 6,268 | 6,549 | 6,901 | |
| 3,719 | 4,774 | 5,204 | 5,915 | 6,536 | 8,830 | 9,516 | 10,525 | 12,104 | 14,011 | 15,433 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital Equity CapitalCr | 513 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 102 |
Reserves ReservesCr | 2,587 | 3,420 | 3,523 | 4,097 | 4,405 | 5,542 | 6,353 | 7,161 | 8,356 | 9,704 | 10,730 |
| 915 | 1,022 | 1,208 | 1,301 | 1,615 | 2,435 | 2,325 | 2,411 | 2,798 | 3,290 | 3,585 | |
| 123 | 154 | 247 | 259 | 250 | 563 | 588 | 668 | 689 | 764 | 799 | |
| 3,719 | 4,774 | 5,204 | 5,915 | 6,536 | 8,830 | 9,516 | 10,525 | 12,104 | 14,011 | 15,433 | |
| 2,151 | 3,134 | 3,309 | 3,582 | 3,761 | 3,515 | 4,016 | 4,562 | 5,836 | 7,462 | 8,532 | |
| 1,568 | 1,640 | 1,896 | 2,333 | 2,775 | 5,315 | 5,500 | 5,964 | 6,268 | 6,549 | 6,901 | |
| 3,719 | 4,774 | 5,204 | 5,915 | 6,536 | 8,830 | 9,516 | 10,525 | 12,104 | 14,011 | 15,433 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 907 | 794 | 796 | 845 | 1,280 | 1,392 | 955 | 1,558 | 2,724 | 2,287 | 2,828 | |
| -491 | -879 | 39 | -513 | 103 | -1,688 | -558 | -899 | -1,769 | -1,542 | -1,224 | |
| -371 | 41 | -790 | -361 | -849 | -76 | -468 | -656 | -742 | -918 | -1,673 | |
Net Cash Flow Net Cash FlowCr | 45 | -45 | 46 | -29 | 533 | -372 | -71 | 2 | 212 | -173 | -68 |
Free Cash Flow Free Cash FlowCr | 742 | 671 | 620 | 591 | 836 | 1,040 | 581 | 1,060 | 2,171 | 1,839 | 2,239 |
CFO To PAT CFO To PAT% | 112.4 | 92.0 | 82.4 | 91.0 | 114.0 | 123.6 | 79.2 | 120.8 | 155.9 | 109.1 | 114.5 |
CFO To EBITDA CFO To EBITDA% | 77.3 | 63.0 | 59.4 | 61.7 | 81.2 | 82.8 | 51.7 | 78.5 | 100.6 | 75.9 | 80.4 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 907 | 794 | 796 | 845 | 1,280 | 1,392 | 955 | 1,558 | 2,724 | 2,287 | 2,828 | |
| -491 | -879 | 39 | -513 | 103 | -1,688 | -558 | -899 | -1,769 | -1,542 | -1,224 | |
| -371 | 41 | -790 | -361 | -849 | -76 | -468 | -656 | -742 | -918 | -1,673 | |
Net Cash Flow Net Cash FlowCr | 45 | -45 | 46 | -29 | 533 | -372 | -71 | 2 | 212 | -173 | -68 |
Free Cash Flow Free Cash FlowCr | 742 | 671 | 620 | 591 | 836 | 1,040 | 581 | 1,060 | 2,171 | 1,839 | 2,239 |
CFO To PAT CFO To PAT% | 112.4 | 92.0 | 82.4 | 91.0 | 114.0 | 123.6 | 79.2 | 120.8 | 155.9 | 109.1 | 114.5 |
CFO To EBITDA CFO To EBITDA% | 77.3 | 63.0 | 59.4 | 61.7 | 81.2 | 82.8 | 51.7 | 78.5 | 100.6 | 75.9 | 80.4 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 30,335 | 35,826 | 46,642 | 63,109 | 68,935 | 91,973 | 1,24,803 | 1,19,647 | 1,53,333 | 1,44,929 | 1,30,859 | 1,61,754 |
Price To Earnings Price To Earnings | 41.3 | 41.7 | 48.5 | 68.2 | 61.8 | 81.3 | 103.3 | 94.0 | 88.7 | 69.8 | 53.4 | 61.0 |
Price To Sales Price To Sales | 5.7 | 6.4 | 7.7 | 8.9 | 9.4 | 12.6 | 12.6 | 10.1 | 12.4 | 11.0 | 9.0 | 10.5 |
Price To Book Price To Book | 11.5 | 10.3 | 13.1 | 15.2 | 15.5 | 16.4 | 19.5 | 16.6 | 18.2 | 14.9 | 12.1 | 14.9 |
EV To EBITDA EV To EBITDA | 25.8 | 28.4 | 34.8 | 46.1 | 43.5 | 54.6 | 67.6 | 60.3 | 56.6 | 48.1 | 37.2 | 42.5 |
GPM GPM% | 44.4 | 51.0 | 49.7 | 46.6 | 50.3 | 49.6 | 41.2 | 39.1 | 47.4 | 49.3 | 50.6 | 50.6 |
OPM OPM% | 21.9 | 22.4 | 22.1 | 19.3 | 21.6 | 23.1 | 18.6 | 16.8 | 21.9 | 22.9 | 24.1 | 24.5 |
NPM NPM% | 15.1 | 15.4 | 15.9 | 13.1 | 15.4 | 15.4 | 12.2 | 10.9 | 14.1 | 15.9 | 16.9 | 17.4 |
ROCE ROCE% | 36.3 | 35.4 | 37.2 | 32.1 | 31.7 | 26.3 | 24.3 | 23.3 | 27.6 | 28.1 | 30.0 | 30.0 |
ROE ROE% | 26.0 | 24.9 | 27.0 | 22.4 | 25.2 | 20.1 | 18.8 | 17.9 | 20.8 | 21.5 | 22.8 | 22.8 |
ROA ROA% | 21.7 | 18.1 | 18.6 | 15.7 | 17.2 | 12.8 | 12.7 | 12.3 | 14.4 | 15.0 | 16.0 | 16.0 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Current |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap Market CapitalizationCr | 30,335 | 35,826 | 46,642 | 63,109 | 68,935 | 91,973 | 1,24,803 | 1,19,647 | 1,53,333 | 1,44,929 | 1,30,859 | 1,61,754 |
Price To Earnings Price To Earnings | 41.3 | 41.7 | 48.5 | 68.2 | 61.8 | 81.3 | 103.3 | 94.0 | 88.7 | 69.8 | 53.4 | 61.0 |
Price To Sales Price To Sales | 5.7 | 6.4 | 7.7 | 8.9 | 9.4 | 12.6 | 12.6 | 10.1 | 12.4 | 11.0 | 9.0 | 10.5 |
Price To Book Price To Book | 11.5 | 10.3 | 13.1 | 15.2 | 15.5 | 16.4 | 19.5 | 16.6 | 18.2 | 14.9 | 12.1 | 14.9 |
EV To EBITDA EV To EBITDA | 25.8 | 28.4 | 34.8 | 46.1 | 43.5 | 54.6 | 67.6 | 60.3 | 56.6 | 48.1 | 37.2 | 42.5 |
GPM GPM% | 44.4 | 51.0 | 49.7 | 46.6 | 50.3 | 49.6 | 41.2 | 39.1 | 47.4 | 49.3 | 50.6 | 50.6 |
OPM OPM% | 21.9 | 22.4 | 22.1 | 19.3 | 21.6 | 23.1 | 18.6 | 16.8 | 21.9 | 22.9 | 24.1 | 24.5 |
NPM NPM% | 15.1 | 15.4 | 15.9 | 13.1 | 15.4 | 15.4 | 12.2 | 10.9 | 14.1 | 15.9 | 16.9 | 17.4 |
ROCE ROCE% | 36.3 | 35.4 | 37.2 | 32.1 | 31.7 | 26.3 | 24.3 | 23.3 | 27.6 | 28.1 | 30.0 | 30.0 |
ROE ROE% | 26.0 | 24.9 | 27.0 | 22.4 | 25.2 | 20.1 | 18.8 | 17.9 | 20.8 | 21.5 | 22.8 | 22.8 |
ROA ROA% | 21.7 | 18.1 | 18.6 | 15.7 | 17.2 | 12.8 | 12.7 | 12.3 | 14.4 | 15.0 | 16.0 | 16.0 |
Documents — Pidilite Industries Ltd
Concall Transcript Summaries — Pidilite Industries Ltd