• Price hike calibration: In the first half, Pidilite implemented price increases ranging between 2% and 15% across various products, resulting in a mid-to-high single-digit weighted average to cover absolute cost inflation.
• Margin outlook: Margins in the second quarter are expected to hit the lower end of the 20% to 24% guidance band due to high-cost inventory, though overall first-half margins should sit toward the higher end.
• Waterproofing segment: Despite monsoon shortfalls and El Niño effects, overall demand in the Dr. Fixit portfolio is holding up through new avenues and growth projects.
• External risk factors: Management identified heightened geopolitical turbulence as the primary external threat, countered by a focus on disciplined execution and field marketing in underpenetrated categories.