Pidilite Industries has reported 6% increase in consolidated net profit to Rs 304 crore on an 8% rise in net sales to Rs 2,890 crore in Q4 FY24 as compared with Q4 FY23.
On the segmental front, Consumer & Bazaar business recorded sales of Rs 2,247 crore (up 6% YoY), Business to Business divisions sales amounted to Rs 708 crore (up 12% YoY) and Others division posted sales of Rs 12 crore (down 43% YoY) during the period under review.
EBITDA for the current quarter ended stood at Rs 577 crore, up by 26% over the same quarter last year.
Profit before tax and exceptional items in Q4 FY24 stood at Rs 498 crore, up by 27% from Rs 393 crore in Q4 FY23.
The company recorded an exceptional charge of Rs 72 crore in the fourth quarter. The charge represents loss on divestment of the Brazil subsidiary.
For FY24, Pidilite Industries has recorded net profit and net sales of Rs 1,747 crore (up 36% YoY) and Rs 12,337 crore (up 5% YoY), respectively.
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Bharat Puri, managing director, Pidilite Industries, said: At Pidilite, we delivered robust double digit Underlying Volume Growth (UVG) as well as substantial improvement in profitability, both for the quarter as well as FY24.
Continued investment in our brands, growth and capability initiatives as well as moderation in input prices, contributed to this strong performance.
While there may be short term softness in the environment in near term, we continue to remain optimistic about market demand in the medium term, with overall increase in construction activities, government spending and increasing prosperity.
Pidilite Industries is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products and polymer emulsions in India.
The scrip tumbled 4.97% to currently trade at Rs 2803.90 on the BSE.
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