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Pidilite Industries (PIDILITIND) investor relations material

Pidilite Industries Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary31 Oct, 2025

Executive summary

  • Q2 FY26 consolidated revenue grew 9.8% year-over-year to Rs 3,540 crore, with standalone revenue at Rs 3,287.31 crore, and EBITDA margin stable at 24%; PAT increased by 8.3%.

  • H1 FY26 consolidated revenue rose 10.2% to Rs 7,283 crore, with EBITDA margin improving to 24.6% and PAT up 13.7%.

  • Consumer & Bazaar (C&B) and B2B segments delivered double-digit volume growth, with C&B UVG at 10.4% and B2B at 9.9% for Q2.

  • Rural demand outperformed urban, but urban markets showed improvement, with both expected to maintain momentum.

  • Unaudited standalone and consolidated financial results for the quarter and six months ended 30 September 2025 were approved by the Board and reviewed by auditors with an unmodified opinion.

Financial highlights

  • Q2 FY26: Net sales Rs 3,540 crore (+9.8%), EBITDA Rs 851 crore (+10.7%), PAT Rs 585 crore (+8.3%).

  • Standalone revenue for Q2 at Rs 3,287.31 crore, PAT at Rs 583.07 crore; consolidated net profit at Rs 591.23 crore.

  • H1 FY26: Net sales Rs 7,283 crore (+10.2%), EBITDA Rs 1,792 crore (+13.3%), PAT Rs 1,263 crore (+13.7%).

  • Gross margin improved to 54.3% in Q2, up from 53.8% last year, due to lower input prices.

  • Basic EPS (adjusted for bonus shares) for Q2 FY26 was Rs 5.76 standalone and Rs 5.65 consolidated.

Outlook and guidance

  • Management expects benign input costs, particularly for VAM, to persist for the next 3–6 months, supporting margin stability.

  • EBITDA margin is expected to remain within the 20%-24% corridor, with potential to stay at the higher end if input costs remain favorable.

  • Double-digit underlying volume growth is expected to continue in the second half, supported by a resilient business model and diversified portfolio.

  • Optimism for improved domestic environment, supported by favorable monsoons, GST 2.0, and construction sector growth.

  • Vigilance maintained on geopolitical risks and global supply chain uncertainties.

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Frequently asked questions

Pidilite Industries Ltd manufactures and markets adhesives, sealants, construction chemicals, and art materials. Its products are used in industrial, consumer, and construction sectors across India and international markets. The company is headquartered in Mumbai, India, and its shares are listed on the NSE.

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