Pidilite Industries reported 17.83% increase in consolidated net profit to Rs 540.30 crore in Q2 FY25 as against Rs 458.53 crore posted in Q2 FY24.
Revenue from operations grew 5.16% YoY to Rs 3,234.91 crore in the quarter ended 30 September 2024.Profit before tax stood at Rs 725.10 crore in Q2 FY25, registering a growth of 16.68% from Rs 621.61 crore recorded in Q2 FY24.
During the quarter, EBITDA before non-operating income stood at Rs 769 crore, up 13% over the same quarter last year.
The current quarters revenue growth of 7% is aided by underlying volume growth (UVG) of 8%. Demand for consumer and a Bazaar (C&B) product was affected by rainfall at the beginning of the quarter. The UVG for C&B stood at 6%, with rural markets continuing to outperform urban markets. Meanwhile, the Business to Business (B2B) segment maintained its growth momentum, achieving a UVG of 21%, driven by the industrial and project verticals.
Input prices remained benign, resulting in expansion of Gross Margin by 281 bps over same quarter of previous year. EBITDA Margins at 24.6% is higher than Q2 FY24 by 143 bps.
International subsidiaries (excluding Pidilite USA and Pulvitec Brazil) for the quarter grew in double digits despite uncertain global economic conditions and political instability in some countries. EBITDA (excluding Pidilite USA and Pulvitec Brazil) also grew in double digits.
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On half-year basis, the company's consolidated net profit jumped 19.24% to Rs 1,111.67 crore on 4.39% increase in revenue to Rs 6,630.26 crore in H1 FY25 over H1 FY24.
Bharat Puri, managing director, pidilite industries, said, Despite challenging economic conditions across the first half of the financial year, we have delivered robust Underlying Volume Growth as well as improved profitability. As we look ahead, we continue to remain optimistic for the second half as a result of the healthy monsoon, increased government spending and growing new construction activity. While we remain watchful of the geo-political situation, we continue to significantly invest in growth facing initiatives as well as building the supply chain of the future.
Pidilite industry is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, diy (do-it-yourself) products and polymer emulsions in india.
The scrip added 0.50% to Rs 3,106.90 on the BSE.
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