Pidilite Industries (PIDILITIND)

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Pidilite Industries (PIDILITIND) · mywealthgrid

About

Pidilite leads adhesives and construction chemicals in India via Fevicol and Dr. Fixit. Market cap ₹1,72,314 Cr, quarterly revenues ₹3,284–₹4,551 Cr standalone. OPM 24.1%, ROE 23.79%.

Founded: 1959
Face value: ₹1

Market cap

₹1,49,006 Cr

P/E

56.3×

P/B

13.8×

Dividend yield

1.5%

ROE

23.8%

ROCE

30%

Debt / equity

0.01

OPM

24.1%

EPS (TTM)

₹26.0

Book value

₹106.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation: PE 65.05 elevated vs industrial norm; verify vs historical and adhesives-sector peers to gauge downside.

Input costs: OPM 24–26% strong, but construction chemicals face commodity inflation pressure; verify pass-through and hedging.

Revenue range: ₹3,284–₹4,551 Cr quarterly suggests seasonal or cyclical patterns; clarify underlying trend.

Sector exposure: adhesives and construction chemicals depend on real estate cycles; verify historical earnings sensitivity to building activity.

Generated analysis · source review pending

Growth drivers

ROE 23.79%, OPM 24.1% show capital efficiency and profit generation that can fund reinvestment in expansion or consolidation.

D/E 0.01 provides financial flexibility for acquisitions, capacity expansion, or stepped-up shareholder returns.

Dividend and bonus activity 2024–2026 reflects strong cash generation; verify sustainability as company invests for growth.

1y return 10.99% and 52w range ₹1,273.6–₹1,701.5 show positive momentum; verify if earnings-driven or multiple expansion.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹1,464.0+0.2%1Y

Quick read

rule-based

Pros

+Strong return on equity of 22.9% (3-yr avg)
+High return on capital employed of 29.3%
+Healthy operating margin of 24.1%
+Profit CAGR of 16.7% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 62.5×
+Dividend payout of 82.6% of profit
+High promoter holding of 69.2% with no pledge

Cons

−Trading at 13.8× book value

Research score

Structured signal from quality, growth, valuation and momentum.

54/100

Business quality: 84
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY NEXT 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Solar Industries India LimitedSOLARINDSSOLARINDS	₹1,75,570 Cr	₹1,77,038 Cr	₹11,351 Cr	₹3,102 Cr	26.7%	₹1,991 Cr	17.7%	34.2%	31.5%	152
Pidilite IndustriesPIDILITINDPIDILITIND	₹1,49,006 Cr	₹1,49,112 Cr	₹15,399 Cr	₹3,772 Cr	24.1%	₹2,649 Cr	16.9%	30%	23.8%	66
SRFSRFSRF	₹73,691 Cr	₹78,695 Cr	₹17,001 Cr	₹3,817 Cr	21.6%	₹2,162 Cr	11.6%	15.8%	13.8%	69
Linde India LimitedLINDEINDIALINDEINDIA	₹53,291 Cr	₹53,291 Cr	₹2,654 Cr	₹913 Cr	35.9%	₹546 Cr	21.7%	15.9%	13.6%	-217
Coromandel International LimitedCOROMANDELCOROMANDEL	₹52,026 Cr	₹52,893 Cr	₹32,602 Cr	₹3,190 Cr	10.2%	₹1,778 Cr	6%	23.3%	16.5%	76
Gujarat Fluorochemicals LimitedFLUOROCHEMFLUOROCHEM	₹47,713 Cr	₹49,912 Cr	₹5,303 Cr	₹1,375 Cr	25.8%	₹615 Cr	11.5%	11.1%	7.6%	401
Fertilizers And Chemicals Travancore LimitedFACTFACT	₹47,559 Cr	₹49,329 Cr	₹5,293 Cr	₹105 Cr	2.3%	₹28 Cr	1%	17.5%	3%	86
Upl LimitedUPLUPL	₹43,628 Cr	₹65,674 Cr	₹52,804 Cr	₹9,326 Cr	17.9%	₹2,020 Cr	4.3%	11.2%	6%	135
Navin Fluorine International LimitedNAVINFLUORNAVINFLUOR	₹41,740 Cr	₹42,967 Cr	₹3,634 Cr	₹1,232 Cr	32.6%	₹790 Cr	20%	21.6%	20.1%	61
PI IndustriesPIINDPIIND	₹33,920 Cr	₹34,158 Cr	₹6,516 Cr	₹1,548 Cr	25.3%	₹1,125 Cr	19.7%	14.4%	12.2%	157
Himadri Speciality Chemical LimitedHSCLHSCL	₹33,557 Cr	₹34,323 Cr	₹4,974 Cr	₹1,005 Cr	20.6%	₹799 Cr	16.2%	23.4%	17.8%	103
Aether Industries LimitedAETHERAETHER	₹22,161 Cr	₹22,603 Cr	₹1,224 Cr	₹384 Cr	31.3%	₹235 Cr	19.8%	13.2%	9.4%	330

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5,702	6,062	6,219	7,079	7,294	7,293	9,921	11,799	12,383	13,140	14,601
COGS	2,585	2,640	2,888	3,587	3,403	3,377	5,444	6,759	5,994	5,996	6,489
Gross profit	3,117	3,423	3,331	3,492	3,892	3,916	4,477	5,040	6,389	7,144	8,112
	1,943	2,163	1,985	2,120	2,313	2,231	2,618	3,049	3,686	4,135	4,595
	1,173	1,260	1,346	1,372	1,579	1,685	1,859	1,991	2,703	3,009	3,517
OPM %	20.6%	20.8%	21.6%	19.4%	21.7%	23.1%	18.7%	16.9%	21.8%	22.9%	24.1%
Depreciation	100	115	120	133	170	201	240	270	341	358	395
Interest	13	14	16	26	34	37	42	48	51	50	54
	78	112	148	129	94	76	36	50	68	222	252
Profit before tax	1,141	1,248	1,359	1,342	1,470	1,522	1,614	1,723	2,379	2,823	3,320
Tax	334	385	393	413	348	396	407	434	632	727	849
Tax %	29.2%	30.9%	28.9%	30.8%	23.7%	26%	25.2%	25.2%	26.6%	25.7%	25.6%
	807	863	966	928	1,122	1,126	1,207	1,289	1,747	2,096	2,471
PAT margin %	14.2%	14.2%	15.5%	13.1%	15.4%	15.4%	12.2%	10.9%	14.1%	16%	16.9%
EPS (₹)	15.7	16.8	19	18.2	22	22.3	23.8	25.1	34	40.8	24.1
EPS adjusted (₹)	7.9	8.4	9.5	9.1	11	11.1	11.9	12.5	17	20.4	24.1
	26.5%	28.3%	31.7%	35.7%	31.8%	38.2%	42.1%	43.9%	47%	73.5%	47.8%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	49.3%	53.4%	53.7%	45.1%	42.7%	51.6%	54.4%	55.6%
EBITDA margin %	19.3%	21.6%	23.1%	18.6%	16.8%	21.9%	22.9%	24.1%
EBIT margin %	17.5%	19.3%	20.3%	16.2%	14.5%	19.1%	20.2%	21.4%
PAT margin %	13.1%	15.4%	15.4%	12.2%	10.9%	14.1%	16%	16.9%
Working capital
Receivable days	54	54	66	53	47	49	50	55
Inventory days	95	100	133	114	98	86	103	98
Payable days	—	—	—	—	57	70	85	86
NWC days	—	—	—	—	88	66	68	66
Leverage
Current ratio	2.75	2.33	1.44	1.73	1.89	2.09	2.27	2.38
Debt to EBITDA	0.08	0.11	0.13	0.16	0.08	0.05	0.05	0.03
Debt to equity	0.03	0.04	0.04	0.04	0.02	0.02	0.02	0.01
Interest coverage	53	46.3	41.9	39.1	37	49	57.6	62.5
Asset turnover	1.2	1.12	0.83	1.04	1.12	1.02	0.94	0.95
Return ratios
Return on assets %	15.7%	17.2%	12.8%	12.7%	12.2%	14.4%	15%	16%
Return on capital employed %	32.1%	32.6%	27.6%	24.2%	23.1%	28.8%	29%	30%
Return on equity %	22.4%	25.2%	20.1%	18.8%	17.9%	20.8%	21.5%	22.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.86%	69.84%	69.77%	69.75%	69.6%	69.6%	69.5%	69.36%	69.33%	69.33%	69.32%	69.24%
	11.44%	11.49%	11.31%	11.58%	11.96%	11.79%	11.6%	12.13%	12.09%	12%	11.75%	11.69%
	8.02%	8.32%	8.94%	8.98%	8.91%	9.16%	9.43%	9.15%	9.16%	9.22%	9.56%	9.79%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0.04%	0.08%	0.09%
	10.68%	10.35%	9.98%	9.69%	9.53%	9.45%	9.47%	9.36%	9.42%	9.41%	9.29%	9.19%
No. of shareholders	—	—	—	—	—	—	—	—	5,17,120	5,21,850	5,20,440	5,09,811

Promoter holding down 0.62 percentage points since Sep 2023.

54 deals · 18 Aug 2021 – 15 May 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
15 May 2026	ICICI PRUDENTIAL MUTUAL FUND	Block	BSE	Buy	2,00,000	₹1,460.00	₹29.20 Cr
15 May 2026	BALVANT K PAREKH FOUNDATION	Block	BSE	Sell	2,00,000	₹1,460.00	₹29.20 Cr
19 Nov 2025	PIDICHEM PVT LTD	Block	BSE	Buy	1,70,000	₹1,490.00	₹25.33 Cr
19 Nov 2025	MRUDULA SUSHILKUMAR PAREKH	Block	BSE	Sell	1,70,000	₹1,490.00	₹25.33 Cr
14 Jul 2025	THE MTBJ LTD AS TRST FOR GOVRNMNT PENSION INVSTMNT FUND MTBJ400045828	Block	BSE	Sell	55,983	₹3,000.80	₹16.80 Cr
14 Jul 2025	THE MTBJ LTD AS TRST FOR GOVERNMENT PENSION INVESTMENT FUND MTBJ400045849	Block	BSE	Buy	55,983	₹3,000.80	₹16.80 Cr
29 Oct 2024	PARKEM DYES & CHEMICALS PVT LTD	Block	BSE	Buy	1,50,000	₹3,170.00	₹47.55 Cr
29 Oct 2024	APURVA NARENDRAKUMAR PAREKH	Block	BSE	Sell	1,50,000	₹3,170.00	₹47.55 Cr
29 Oct 2024	PARKEM DYES & CHEMICALS PVT LTD	Block	BSE	Buy	50,000	₹3,170.00	₹15.85 Cr
29 Oct 2024	PURVEE APURVA PAREKH	Block	BSE	Sell	50,000	₹3,170.00	₹15.85 Cr

1–10 of 54

1 / 6

Mr. Madhukar Balvantray ParekhExecutive Director-Chairperson related to Promoter
Mr. Sudhanshu VatsExecutive Director-MD
Mr. Kavinder SinghExecutive Director
Mr. Ajay Balvantray ParekhNon-Executive - Non Independent Director
Mr. Apurva Narendrakumar ParekhExecutive Director
Mr. Bharat Tilakraj PuriNon-Executive - Non Independent Director
Mr. Sandeep BatraExecutive Director
Mr. Swaminathan KrishnamurthyExecutive Director
Mr. Rajeev VasudevaNon-Executive - Independent Director
Mr. Murali SivaramanNon-Executive - Independent Director
Mr. Rajeev GuptaNon-Executive - Independent Director

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹1,465.1 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹1,479.2	-3.1	-0.2%	₹1,479.2	10,239	-115	1,130	500
23 Nov 2026	₹1,482.6	-7.5	-0.5%	₹1,482.6	220	+6	30	500
29 Dec 2026	₹1,503.6	+20.9	+1.4%	₹1,488.2	4	+4	4	500

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

32

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	1,240

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

132

across 18 fund houses

Held by these funds

2.43%

of the company's equity

All mutual funds

4.33%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

132 schemes · 18 fund houses

		Shares
ELSS- Tax Saver Fund	Axis Mutual Fund	50.76 L	856.65	2.62%	0.499%	-2.12 L
Large Cap Fund	Axis Mutual Fund	37 L	624.5	1.99%	0.364%	-0
Nifty Next 50 Index Fund	ICICI Prudential Mutual Fund	12.34 L	208.18	2.06%	0.121%	+19,687
Focused Fund	Axis Mutual Fund	11.94 L	201.59	1.76%	0.117%	-2.78 L
ETF NIFTY NEXT 50 JUNIOR BEES	Nippon India Mutual Fund	10.94 L	184.58	2.06%	0.107%	+35,255
Large & Mid Cap Fund	Axis Mutual Fund	9.87 L	166.6	0.96%	0.097%	-0
Dividend Yield Fund	SBI Mutual Fund	7.72 L	130.35	1.52%	0.076%	-0
ESG Exclusionary Strategy Fund	SBI Mutual Fund	6.99 L	117.92	2.2%	0.069%	-0

1–8 of 132

1 / 17

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

60 announcementsExport CSV

29 Sept 2026, 3:54 pmCompany Update

Intimation Under Regulation 30 Of The SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015

General

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	49.3%	53.4%	53.7%	45.1%	42.7%	51.6%	54.4%	55.6%
EBITDA margin %	19.3%	21.6%	23.1%	18.6%	16.8%	21.9%	22.9%	24.1%
EBIT margin %	17.5%	19.3%	20.3%	16.2%	14.5%	19.1%	20.2%	21.4%
PAT margin %	13.1%	15.4%	15.4%	12.2%	10.9%	14.1%	16%	16.9%
Working capital
Receivable days	54	54	66	53	47	49	50	55
Inventory days	95	100	133	114	98	86	103	98
Payable days	—	—	—	—	57	70	85	86
NWC days	—	—	—	—	88	66	68	66
Leverage
Current ratio	2.75	2.33	1.44	1.73	1.89	2.09	2.27	2.38
Debt to EBITDA	0.08	0.11	0.13	0.16	0.08	0.05	0.05	0.03
Debt to equity	0.03	0.04	0.04	0.04	0.02	0.02	0.02	0.01
Interest coverage	53	46.3	41.9	39.1	37	49	57.6	62.5
Asset turnover	1.2	1.12	0.83	1.04	1.12	1.02	0.94	0.95
Return ratios
Return on assets %	15.7%	17.2%	12.8%	12.7%	12.2%	14.4%	15%	16%
Return on capital employed %	32.1%	32.6%	27.6%	24.2%	23.1%	28.8%	29%	30%
Return on equity %	22.4%	25.2%	20.1%	18.8%	17.9%	20.8%	21.5%	22.8%

Calls	Strike	Puts
0	0	0	₹0.0	1,240

Date	Category	Subject	Filing
29 Sept 2026, 3:54 pm	Company Update General	Intimation Under Regulation 30 Of The SEBI (Listing Obligation And Disclosure Requirements) Regulations, 2015	PDF
28 Sept 2026, 3:44 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
18 Sept 2026, 11:48 am	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF
15 Sept 2026, 5:40 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
9 Sept 2026, 12:08 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
3 Sept 2026, 6:52 pm	Company Update General	Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations')	PDF
1 Sept 2026, 3:02 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
1 Sept 2026, 2:06 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	51	51	51	51	51	51	51	51	51	51	102
Reserves	2,174	3,420	3,523	4,097	4,405	5,542	6,353	7,161	8,356	9,704	10,730
Minority interest	5	127	175	207	216	240	199	234	210	203	216
	58	98	123	111	169	223	287	163	131	147	106
	799	1,078	1,333	1,448	1,695	2,775	2,626	2,916	3,356	3,907	4,278
Total equity & liabilities	3,088	4,774	5,204	5,915	6,536	8,830	9,516	10,525	12,104	14,011	15,433
	956	1,275	1,342	1,448	1,660	4,260	4,500	4,914	5,451	5,705	5,774
CWIP	220	148	228	242	259	294	225	406	148	129	329
Investments	396	1,421	1,221	1,523	1,161	484	398	881	2,235	3,551	4,350
	1,517	1,930	2,414	2,702	3,456	3,793	4,392	4,324	4,270	4,626	4,981
Total assets	3,088	4,774	5,204	5,915	6,536	8,830	9,516	10,525	12,104	14,011	15,433

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	907	809	799	845	1,280	1,481	955	1,558	2,724	2,285	2,829
	-491	-791	24	-513	103	9,009	-558	-899	-1,770	-1,540	-1,225
	-371	-37	-803	-361	-849	128	-468	-656	-742	-918	-1,673
Net cash flow	45	-19	19	-29	533	10,618	-71	2	212	-173	-68
Free cash flow	—	809	—	845	1,280	1,121	581	1,052	2,166	1,833	2,237
CFO / Operating profit %	77.3%	64.2%	59.6%	61.7%	81.2%	88.1%	51.7%	78.5%	100.6%	75.9%	80.4%

Compounded sales growth

7 years: 11%
5 years: 15%
3 years: 7%
1 year: 11%

Compounded profit growth

7 years: 15%
5 years: 17%
3 years: 24%
1 year: 18%

Return on equity

7 years: 20%
5 years: 20%
3 years: 21%
Last year: 22%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Consumer & Bazaar	11,573.75	3,546.3	8,341.12	2,986.78	5,354.34	66.23
Business to Business	3,211.1	529.31	2,306.67	841.91	1,464.76	36.14
Others	60.55	-9.28	46.55	3.08	43.47	-21.35

SegmentFigure

Business to Business · revenue

₹ crore by fiscal year

Pidilite Industries

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Option chain32

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Futures3

Option chain32

Announcements

Annual reports

Investor Presentation and earnings call

Dividends23

Board meetings1

Bonus issues2

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Segment results

Business to Business · revenue

3

32

3

32

23

1

2