Pidilite Industries (PIDILITIND) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 standalone net sales grew 21.7% to ₹3,982 crore, with 10.7% UVG; PAT rose 10.4% to ₹647 crore.

• H1 standalone net sales increased 22.0% to ₹8,219 crore and PAT rose 19.5% to ₹1,477 crore.

• Q2 consolidated revenue from operations was ₹4,297.59 crore and profit attributable to shareholders was ₹614.53 crore, both higher YoY.

Financial highlights

• Standalone Q2 EBITDA was ₹811 crore, up 0.5%; PBT rose 8.0% to ₹842 crore and PAT rose 10.4% to ₹647 crore.

• Standalone H1 EBITDA increased 14.0% to ₹1,932 crore; PBT rose 18.2% to ₹1,962 crore and PAT rose 19.5% to ₹1,477 crore.

• Consolidated Q2 EBITDA grew 3.1% to ₹878 crore, PBT increased 5.3% to ₹829 crore and PAT rose 7.1% to ₹626 crore; H1 EBITDA increased 15.6% to ₹2,071 crore.

• Consolidated H1 revenue from operations was ₹8,849.14 crore versus ₹7,307.54 crore; profit attributable to shareholders was ₹1,486.94 crore versus ₹1,251.64 crore.

Outlook and guidance

• H2 FY27 EBITDA margin expected within the 20%-24% corridor, with confidence toward the higher end, assuming current pricing and VAM at $1,200-$1,300.

• October pricing of 3%-5% is being implemented in select high-inflation areas; another increase may follow late Q3 or early Q4 depending on conditions.

• Double-digit UVG remains the near-term objective; the longer-term ambition is to move toward the early teens while prioritizing profitable growth and continued investment in brands, innovation and distribution.