Pidilite Industries Ltd

Pidilite Inds. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Pidilite Industries Ltd

₹ 2,938 -2.13%
21 Nov - close price
pidilite.com BSE: 500331 NSE: PIDILITIND
About

Pidilite Industries Limited is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY products and polymer emulsions in India. Most of the products have been developed through strong in-house R&D. Our brand name Fevicol has become synonymous with adhesives to millions in India and is ranked amongst the most trusted brands in the country. Some of our other major brands are M-Seal, Fevikwik, Fevistik, Roff, Dr. Fixit, Fevicryl, Motomax, Hobby Ideas, Araldite. [1]

Key Points

Revenue Breakup
Company earns about 53% of its revenues from adhesives & sealants category, followed by Construction & paint chemicals (20%), industrial resins & construction chemicals (7%), art & craft materials (6%), industrial adhesives (6%), and pigment & preparation (6%)..
It has its business divided into 2 divisions, consumer & bazaar products which account for ~80% of revenues, and B2B products segment which accounts for ~20% of revenues [1] In total,the company produces ~6500 products for its brands. [2]

Website BSE NSE
  • Market Cap ₹ 1,49,433 Cr.
  • Current Price ₹ 2,938
  • High / Low ₹ 3,415 / 2,475
  • Stock P/E 76.0
  • Book Value ₹ 170
  • Dividend Yield 0.54 %
  • ROCE 30.7 %
  • ROE 23.3 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 44.1%
  • Company's working capital requirements have reduced from 34.1 days to 16.8 days

Cons

  • Stock is trading at 17.3 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Chemicals Industry: Chemicals

Part of Nifty Next 50 Nifty 100 Low Volatility 30 BSE 100 LargeCap TMC Index Nifty LargeMidcap 250 Nifty100 ESG

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
2,363 2,584 2,230 2,790 2,715 2,710 2,382 2,964 2,780 2,834 2,589 3,146 2,977
1,834 2,053 1,842 2,303 2,251 2,242 1,946 2,292 2,138 2,126 2,061 2,375 2,246
Operating Profit 529 531 388 487 464 468 436 671 643 708 528 771 731
OPM % 22% 21% 17% 17% 17% 17% 18% 23% 23% 25% 20% 25% 25%
17 7 10 11 28 3 21 27 36 60 49 52 72
Interest 9 7 5 4 7 10 7 7 7 7 8 8 8
Depreciation 49 49 51 50 53 57 61 62 62 67 99 72 75
Profit before tax 488 482 342 443 433 403 389 630 609 694 470 742 720
Tax % 23% 26% 26% 25% 22% 27% 25% 26% 25% 25% 25% 26% 25%
373 359 252 333 337 296 291 468 455 523 354 552 542
EPS in Rs 7.35 7.06 4.96 6.56 6.63 5.83 5.72 9.20 8.94 10.28 6.97 10.84 10.66
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
3,332 3,878 4,398 4,731 4,865 5,354 6,094 6,333 6,216 8,896 10,597 11,167 11,546
2,722 3,205 3,637 3,636 3,638 4,061 4,800 4,849 4,663 7,115 8,742 8,608 8,808
Operating Profit 609 673 761 1,095 1,227 1,293 1,294 1,484 1,554 1,781 1,855 2,559 2,738
OPM % 18% 17% 17% 23% 25% 24% 21% 23% 25% 20% 18% 23% 24%
71 36 25 68 14 136 189 93 67 32 63 164 233
Interest 8 10 10 6 6 6 7 13 17 27 29 29 31
Depreciation 53 69 108 88 90 91 100 126 147 194 222 289 313
Profit before tax 620 631 669 1,070 1,145 1,331 1,376 1,437 1,457 1,591 1,668 2,404 2,627
Tax % 26% 26% 25% 30% 32% 28% 29% 23% 26% 25% 25% 25%
461 469 502 747 774 955 979 1,102 1,081 1,191 1,257 1,799 1,971
EPS in Rs 8.99 9.14 9.79 14.57 15.09 18.81 19.28 21.68 21.28 23.44 24.73 35.38 38.75
Dividend Payout % 29% 30% 30% 28% 31% 32% 34% 32% 40% 43% 44% 45%
Compounded Sales Growth
10 Years: 11%
5 Years: 13%
3 Years: 22%
TTM: 7%
Compounded Profit Growth
10 Years: 15%
5 Years: 13%
3 Years: 18%
TTM: 30%
Stock Price CAGR
10 Years: 21%
5 Years: 18%
3 Years: 8%
1 Year: 18%
Return on Equity
10 Years: 23%
5 Years: 22%
3 Years: 21%
Last Year: 23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 51 51 51 51 51 51 51 51 51 51 51 51 51
Reserves 1,681 1,988 2,298 2,599 3,348 3,513 4,136 4,414 5,510 6,293 7,057 8,287 8,586
60 8 6 1 0 0 0 73 122 198 187 212 206
786 842 912 815 896 1,064 1,163 1,281 1,940 2,196 2,385 2,822 3,188
Total Liabilities 2,579 2,889 3,267 3,467 4,296 4,628 5,350 5,819 7,623 8,738 9,680 11,371 12,030
534 611 828 917 940 940 951 1,249 1,423 4,235 4,437 4,935 5,002
CWIP 409 431 460 152 127 164 229 248 282 207 351 135 142
Investments 547 574 700 1,103 1,793 1,786 2,190 1,824 3,482 1,085 1,447 2,813 3,184
1,089 1,273 1,278 1,296 1,436 1,738 1,980 2,498 2,438 3,211 3,445 3,487 3,702
Total Assets 2,579 2,889 3,267 3,467 4,296 4,628 5,350 5,819 7,623 8,738 9,680 11,371 12,030

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
511 398 573 907 809 799 853 1,228 1,201 857 1,432 2,586
-191 -140 -445 -469 -791 24 -488 133 -1,679 -540 -754 -1,736
-330 -221 -173 -409 -37 -803 -371 -858 19 -436 -673 -623
Net Cash Flow -10 37 -44 29 -19 19 -6 504 -459 -119 6 227

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 40 43 43 42 46 47 46 46 59 50 45 46
Inventory Days 115 110 101 79 90 91 87 91 126 107 93 85
Days Payable 53 65 56 51 53 62 54 62 102 70 56 70
Cash Conversion Cycle 102 88 88 71 82 76 80 76 82 87 82 60
Working Capital Days 10 27 23 31 36 43 41 34 20 46 39 17
ROCE % 35% 33% 31% 43% 41% 38% 35% 35% 29% 27% 24% 31%

Shareholding Pattern

Numbers in percentages

30 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
69.98% 69.94% 69.94% 69.93% 69.93% 69.94% 69.91% 69.86% 69.84% 69.78% 69.75% 69.60%
11.66% 11.57% 11.13% 11.34% 11.08% 10.61% 11.34% 11.44% 11.49% 11.31% 11.59% 11.96%
7.48% 7.30% 7.48% 7.73% 8.12% 8.45% 7.92% 8.01% 8.32% 8.93% 8.97% 8.89%
10.88% 11.19% 11.45% 10.98% 10.85% 10.98% 10.82% 10.70% 10.36% 10.00% 9.71% 9.55%
No. of Shareholders 4,84,5975,62,8106,20,8755,75,4795,86,0756,18,3275,97,0296,00,1175,77,3825,41,1145,23,2925,08,966

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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