Financials Pidilite Industries Limited

Equities

PIDILITIND

INE318A01026

Diversified Chemicals

Market Closed - NSE India S.E. Other stock markets 12:49:42 11/07/2025 BST			5-day change	1st Jan Change
3,000.80 ^INR	-2.10%		-2.58%	+3.32%

05-12	Jefferies Adjusts Pidilite Industries' Price Target to INR3,270 from INR3,040, Keeps at Hold	MT
05-09	Pidilite Industries Limited, Q4 2025 Earnings Call, May 09, 2025

Projected Income Statement: Pidilite Industries Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	72,945	72,927	99,210	117,991	123,830	131,403	145,727	162,616
Change	-	-0.02%	36.04%	18.93%	4.95%	6.12%	10.9%	11.59%
EBITDA ¹	15,760	16,846	18,473	19,910	27,132	30,092	34,067	38,071
Change	-	6.89%	9.66%	7.78%	36.27%	10.91%	13.21%	11.75%
EBIT ¹	14,061	14,839	16,196	17,213	23,726	26,508	30,448	33,984
Change	-	5.54%	9.14%	6.28%	37.84%	11.73%	14.86%	11.61%
Interest Paid ¹	-336	-372.3	-420.8	-476.4	-511.9	-503.5	-488.4	-483.2
Earnings before Tax (EBT) ¹	14,698	15,225	16,138	17,232	23,794	28,227	32,583	36,916
Change	-	3.59%	6%	6.78%	38.07%	18.63%	15.43%	13.3%
Net income ¹	11,164	11,312	12,076	12,732	17,294	20,762	24,184	27,174
Change	-	1.32%	6.75%	5.44%	35.82%	20.06%	16.48%	12.37%
Announcement Date	17/06/20	12/05/21	18/05/22	08/05/23	07/05/24	08/05/25	-	-

¹INR in Million

Estimates

Fiscal Period: March	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	20,168	18,066	19,266	15,447	8,778	18,803	22,990	22,355	19,368	26,264	28,507	25,071	31,011	30,112	29,976	26,892	32,751	30,760	31,300	29,018	33,954	32,830	33,449	31,561	36,890	35,541	37,602	35,640
Change	-	-10.42%	6.64%	-19.82%	-43.17%	114.2%	22.27%	-2.76%	-13.36%	35.6%	8.54%	-12.05%	23.69%	-2.9%	-0.45%	-10.29%	21.79%	-6.08%	1.75%	-7.29%	17.01%	-3.31%	1.89%	-5.65%	16.88%	-3.66%	5.8%	-5.22%
EBITDA ¹	4,437	3,693	4,648	3,009	663.7	5,126	6,424	4,621	3,476	5,496	5,490	4,011	5,295	4,999	4,959	4,577	7,060	6,797	7,424	5,749	8,119	7,660	8,145	6,466	8,722	8,421	9,123	7,242
Change	-	-16.77%	25.85%	-35.26%	-77.94%	672.4%	25.31%	-28.07%	-24.78%	58.11%	-0.1%	-26.95%	32.01%	-5.59%	-0.8%	-7.7%	54.25%	-3.72%	9.23%	-22.56%	41.22%	-5.66%	6.33%	-20.62%	34.9%	-3.45%	8.34%	-20.62%
EBIT ¹	4,060	3,291	4,229	2,508	207.4	4,648	5,929	-	2,910	4,893	4,886	3,441	4,682	4,362	4,272	3,815	6,326	6,045	6,630	4,624	7,275	6,800	7,167	5,809	7,994	7,610	7,610	7,247
Change	-	-18.95%	28.51%	-40.7%	-91.73%	2,140.84%	27.58%	-	-	68.15%	-0.14%	-29.57%	36.05%	-6.82%	-2.06%	-10.7%	65.79%	-4.44%	9.67%	-30.25%	57.33%	-6.53%	5.39%	-18.95%	37.62%	-4.8%	0%	-4.78%
Charge d'intérêts ¹	-73.4	-82.8	-81.9	-97.9	-90.7	-86.5	-120.7	-74.4	-96.2	-123.6	-107.5	-93.5	-90.3	-116.8	-150.9	-118.4	-118.8	-131.3	-127.6	-134.2	-118.2	-118	-117	-143	-130	-129	-137	-136
Earnings before Tax (EBT) ¹	4,385	3,543	4,545	2,221	316.7	4,784	6,012	4,112	2,897	4,908	4,867	3,459	4,732	4,355	4,173	3,925	6,441	6,230	6,872	4,262	7,696	7,125	7,765	5,891	8,409	8,039	8,713	6,962
Change	-	-19.2%	28.28%	-51.14%	-85.74%	1,410.58%	25.68%	-31.61%	-29.54%	69.39%	-0.83%	-28.94%	36.82%	-7.97%	-4.19%	-5.93%	64.1%	-3.29%	10.31%	-37.98%	80.58%	-7.43%	8.99%	-24.13%	42.74%	-4.4%	8.38%	-20.1%
Net income ¹	2,929	3,242	3,418	1,575	267.8	3,564	4,418	3,062	2,201	3,746	3,585	2,544	3,536	3,324	3,042	2,830	4,682	4,502	5,105	3,006	5,669	5,277	5,762	4,359	6,174	6,137	6,240	5,693
Change	-	10.7%	5.42%	-53.91%	-83%	1,230.92%	23.96%	-30.7%	-28.13%	70.24%	-4.31%	-29.05%	39.02%	-5.99%	-8.5%	-6.95%	65.41%	-3.85%	13.4%	-41.12%	88.6%	-6.91%	9.18%	-24.35%	41.65%	-0.6%	1.68%	-8.77%
Announcement Date	06/08/19	13/11/19	29/01/20	17/06/20	06/08/20	04/11/20	28/01/21	12/05/21	11/08/21	10/11/21	25/01/22	18/05/22	10/08/22	09/11/22	24/01/23	08/05/23	10/08/23	08/11/23	23/01/24	07/05/24	07/08/24	-	-	-	-	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2024 S1	2025 S1
Net sales ¹	63,512	66,303
Change	-	4.39%
EBITDA ¹	-	15,816
Change	-	-0.78%
EBIT	-	-
Change	-	-
Charge d'intérêts	-	-
Earnings before Tax (EBT)	-	-
Change	-	-
Net income	-	-
Change	-	-
Announcement Date	08/11/23	23/10/24

¹INR in Million

Estimates

Forecast Balance Sheet: Pidilite Industries Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-5,341	-2,376	-678	-1,469	-3,840	-30,440	-44,038	-54,446
Change	-	55.51%	71.46%	-116.67%	-161.4%	-692.71%	-158.41%	-23.63%
Announcement Date	17/06/20	12/05/21	18/05/22	08/05/23	07/05/24	08/05/25	-	-

¹INR in Million

Estimates

Cash Flow Forecast: Pidilite Industries Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	4,439	3,538	3,747	5,054	5,530	4,523	4,921	5,074
Change	-	-20.31%	5.93%	34.85%	9.42%	-18.2%	5.95%	3.12%
Free Cash Flow (FCF) ¹	8,124	10,384	5,806	10,521	21,711	18,343	18,360	24,688
Change	-	27.81%	-44.08%	81.2%	106.35%	-15.51%	33.78%	34.47%
Announcement Date	17/06/20	12/05/21	18/05/22	08/05/23	07/05/24	08/05/25	-	-

¹INR in Million

Estimates

Forecast Financial Ratios: Pidilite Industries Limited

Fiscal Period: March	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	21.61%	23.1%	18.62%	16.87%	21.91%	22.9%	23.38%	23.41%
EBIT Margin (%)	19.28%	20.35%	16.32%	14.59%	19.16%	20.17%	20.89%	20.9%
EBT Margin (%)	20.15%	20.88%	16.27%	14.6%	19.21%	21.48%	22.36%	22.7%
Net margin (%)	15.31%	15.51%	12.17%	10.79%	13.97%	15.8%	16.6%	16.71%
FCF margin (%)	11.14%	14.24%	5.85%	8.92%	17.53%	13.96%	12.6%	15.18%
FCF / Net Income (%)	72.77%	91.79%	48.08%	82.63%	125.54%	88.35%	75.92%	90.85%
Profitability
ROA	18.61%	14.72%	13.16%	12.71%	15.28%	15.9%	18.45%	18.99%
ROE	26.93%	22.51%	20.13%	18.7%	22.82%	22.86%	22.99%	22.63%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	6.09%	4.85%	3.78%	4.28%	4.47%	3.44%	3.38%	3.12%
CAPEX / EBITDA (%)	28.17%	21%	20.29%	25.38%	20.38%	15.03%	14.44%	13.33%
CAPEX / FCF (%)	54.64%	34.07%	64.54%	48.03%	25.47%	24.66%	26.8%	20.55%
Items per share
Cash flow per share ¹	25.18	27.37	18.79	30.62	53.52	44.86	57.16	65.86
Change	-	8.71%	-31.36%	62.94%	74.81%	-16.19%	14.52%	15.22%
Dividend per Share ¹	7	8.5	10	11	16	20	22.78	24.62
Change	-	21.43%	17.65%	10%	45.45%	25%	24.07%	8.1%
Book Value Per Share ¹	87.71	110.1	126	141.9	165.3	191.8	218.8	251.4
Change	-	25.49%	14.46%	12.63%	16.52%	16%	14.64%	14.88%
EPS ¹	21.97	22.24	23.75	25.03	33.98	40.73	47.16	53.46
Change	-	1.23%	6.79%	5.39%	35.76%	19.86%	13.37%	13.36%
Nbr of stocks (in thousands)	508,124	508,153	508,288	508,314	508,609	508,669	508,669	508,669
Announcement Date	17/06/20	12/05/21	18/05/22	08/05/23	07/05/24	08/05/25	-	-