Pidilite stock: Q2 profit rises as margins narrow
Published on 10/31/2026 at 00:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSPidilite reports strong sales growth
- Consolidated revenue rose more than 21 percent in the September quarter, while net profit increased 7 percent year over year.
- Higher input costs reduced EBITDA margin to 20.5 percent from 24.0 percent a year earlier.
- Consumer and bazaar revenue grew 20.7 percent, while business-to-business revenue increased 21.8 percent.
On October 29, 2026, The Economic Times reported that Pidilite Industries delivered strong growth in the September quarter, although rising input costs limited the increase in profitability.
Sales growth outpaces profit
Consolidated revenue from operations rose more than 21 percent year over year to INR 4,285 crore. Consolidated net profit increased 7 percent to INR 626 crore, while EBITDA grew 3 percent to INR 878 crore.
Profit growth lagged sales growth as consolidated EBITDA margin declined to 20.5 percent from 24.0 percent a year earlier. The pressure reflects higher material costs and leaves margin management central to the outlook for the second half of FY27.
Both core segments expand
Revenue in the consumer and bazaar segment increased 20.7 percent, supported by underlying volume growth of 11.1 percent. Business-to-business revenue rose 21.8 percent, with underlying volume growth of 9.2 percent.
Managing Director Sudhanshu Vats said the company maintained broad-based, double-digit underlying volume growth in the quarter. He also said Pidilite remained confident about carrying the first-half momentum into the second half despite high material inflation and volatility.
Pidilite's business profile
Pidilite develops adhesives, sealants, construction chemicals, waterproofing products, pigments, paints and industrial solutions. Its brands and businesses serve consumer, construction, manufacturing, automotive, textile, footwear and other industrial markets in India and more than 80 international markets.
The company's product range spans woodworking adhesives, tile and stone fixing, maintenance and repair, art and stationery, decorative paints, wood finishes and industrial bonding solutions. Its broad Indian portfolio and international operations give it exposure to both consumer demand and industrial activity.
Pidilite Industries at a glance
- Business: Adhesives, sealants, construction chemicals, paints and industrial solutions
- Reporting period: September quarter of FY27
- Consolidated revenue: INR 4,285 crore
- Consolidated net profit: INR 626 crore
- EBITDA margin: 20.5 percent, compared with 24.0 percent a year earlier
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