Pidilite Industries Q4 Results: PAT grew by 6%

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Synopsis:

The fourth quarter of FY24 saw considerable growth for Pidilite Industries. The company saw a standalone Underlying Volume Growth (UVG) in double digits for Q4 and FY24. The EBITDA margin for FY24 stood at 23% with PAT up by 43%. Pidilite Industries' Board of Directors has proposed a final dividend of ₹16 per share.

5 Key Financial Highlights

The company's growth in both Q4FY24 and FY24 underscores its progress. Here are some of the main highlights from Pidilite Industries Q4 Results:

  • Net sales at ₹2,890 Crore, up by 8% from Q4FY23 
  • Net sales for FY24 at ₹12,337 Crore up 5% YoY
  • EBITDA for Q4FY24 at ₹577 Crore, up 26% from Q4FY23
  • PBT for Q4FY24 at ₹498 Crore up 27% from Q4FY23
  • PAT for Q4FY24 at ₹304 Crore up 6% from Q4FY23

Explore: Pidilite Industries Share Price

Key Business Updates:

  • The company made higher investments in brands and initiatives to make customer relations better continued 
  • EBITDA Margin for the quarter was 20.5% as compared to 18.4% last year
  • Both Consumer & Bazar and Business to Business (B2B) achieved double-digit Underlying Volume Growth with the help of growth in distribution, innovation, and digital initiatives.
  • Both Urban and Rural markets grew for the company and the Rural markets even outdid the Urban growth
  • International subsidiaries' revenues for the year grew by 7.8% over FY23
  • In March 2024, the company fully exited its businesses in the Americas.

Additional ReadQuarterly Results

Profitability Analysis:

With the various developments it has had in the years it has been around, Pidilite Industries, has proven that it remains as profitable as ever. With net sales at ₹2,890 Crore, up by 8% from Q4FY23, and net sales for FY24 at ₹12,337 Crore up 5% YoY the company has done well for itself this FY4. The company’s EBITDA for Q4FY24 stood at ₹577 Crore, up 26% from Q4FY23, PBT for Q4FY24 was at ₹498 Crore up 27% from Q4FY23 and PAT for Q4FY24 was at ₹304 Crore up 6% from Q4FY23. Apart from these numbers, the company saw major growth in both their urban and rural markets, the latter even exceeding the growth of the former. The company’s international subsidiaries' revenues for the year also grew by 7.8% over FY23. With the success that the company achieved in FY24 and Q4FY24, the Board of Directors recommended a final dividend of ₹16/share.  

Additional ReadDr. Reddy’s Laboratories Q4 Results

Major Operational Metrics - Consolidated Q4 (FY2023-24) Financial Results of Pidilite Industries (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Growth % over Q4FY23

FY24

Growth % over Q4FY23

Net Sales

2890

8%

12337

5%

EBITDA

577

26%

2707

36%

PBT 

498

27%

2451

42%

PAT 

304

6%

1747

36%

The Future of Pidilite Industries

The company saw net sales at ₹2,890 Crore, up by 8% from Q4FY23, and net sales for FY24 at ₹12,337 Crore up 5% YoY. Other than this, Pidilite Industries’ EBITDA for Q4FY24 stood at ₹577 Crore, up 26% from Q4FY23, PBT for Q4FY24 was at ₹498 Crore up 27% from Q4FY23 and PAT for Q4FY24 was at ₹304 Crore up 6% from Q4FY23. Add to this the many other business developments it saw in FY24, and the overall increase it saw in construction activities and government spending the company looks like it is in for a favourable future. 

Additional Read: Marico Q4 Results

About Us

Established in 1959 with a single factory producing Fevicol adhesive, Pidilite Industries expanded its operations. In 1963, it set up its first modern manufacturing plant. Over the years, it grew into one of India's top brands, with notable milestones including winning the Silver Lion award at Cannes in 2002. Acquisitions like M-seal and Tristar Colman furthered its growth, culminating in a turnover of ₹1,000 Cr. in just four decades. In 2006, it acquired Sargent Art Inc. and established its Singapore R&D center, solidifying its global presence.

Additional ReadLupin Q4 Results

Conclusion

Pidilite Industries has come a long way since being established in 1959 for the production of a single product. Today, in the fourth quarter of FY24, the company's growth has surpassed previous records. With double-digit standalone Underlying Volume Growth (UVG) recorded for both Q4 and FY24, coupled with an FY24 EBITDA margin of 23% & a 43% increase in PAT, the company's trajectory appears promising.

Results for the Fourth Quarter Ended March 31, 2024

Sources: 

  1. Pidilite Industries Press release

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Frequently Asked Questions

What are the sales that Pidilite Industries has been able to make in Q4

Answer Field

Pidilite Industries saw a net sales of ₹2,890 Crore, up by 8% from Q4FY23

What is the future outlook for Pidilite Industries after the release of the Q4 results?

Answer Field

With diverse business developments and a favorable outlook due to increased construction activities and government spending, Pidilite Industries is poised for a promising future. The company reported robust financials for Q4FY24, with net sales reaching ₹2,890 Cr., marking an 8% increase from Q4FY23.Additionally, the company's EBITDA for Q4FY24 surged to ₹577 Cr., a 26% increase from Q4FY23, while PBT and PAT saw significant growth as well.

What are some of the main business updates for Pidilite Industries?

Answer Field

Yes, the numbers for Pidilite Industries have indeed been favourable to the company. However, apart from them, here are a few business updates that have added to the company’s growth trajectory:

  • The company made higher investments in brands and initiatives to make customer relations better and continued 

  • EBITDA Margin for the quarter was 20.5% as compared to 18.4% last year

  • Both Consumer & Bazar and Business-to-Business (B2B) achieved double-digit Underlying Volume Growth with the help of growth in distribution, innovation and digital initiatives.

  • Both Urban and Rural markets grew for the company and the Rural markets even outdid the Urban growth

  • International subsidiaries' revenues for the year grew by 7.8% over FY23

  • In March 2024, the company fully exited its businesses in the Americas.

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