Brands
Pidilite posts 15.3 per cent volume-led Q4 growth, margins expand sharply in FY26
Adhesives major rides strong demand and cost tailwinds to a steady profit lift
MUMBAI: Pidilite Industries Limited has reported a strong set of FY26 results, with underlying volume growth (UVG) of 15.3 per cent in Q4 and robust expansion in profitability across segments, supported by easing input costs and steady demand in core categories.
The company’s standalone net sales rose 15.3 per cent year-on-year to Rs 3,272 crore in Q4 FY26, while full-year revenue increased 11.8 per cent to Rs 13,437 crore. Profit after tax for the quarter climbed 22.8 per cent to Rs 547 crore, while FY26 PAT rose 15 per cent to Rs 2,384 crore.
On a consolidated basis, net sales stood at Rs 3,572 crore in Q4, up 14.1 per cent, with full-year revenue rising 11.1 per cent to Rs 14,553 crore. Consolidated PAT surged 36.6 per cent in the quarter to Rs 584 crore and grew 17.9 per cent for the full year to Rs 2,471 crore.
Margins saw a notable improvement across the board. Standalone EBITDA margin rose to 23.4 per cent in Q4 from 20.6 per cent a year earlier, while full-year EBITDA margin improved to 24.6 per cent. Consolidated EBITDA margin also strengthened to 23.3 per cent in the quarter.
Growth was broad-based across business verticals. The Consumer & Bazaar segment, which includes flagship brands such as Fevicol, M-Seal, Fevikwik, Dr Fixit and Fevicryl, posted a 15.9 per cent revenue rise in Q4 to Rs 2,561 crore. The segment also delivered strong UVG of 15.4 per cent, with EBIT margin expanding to 30.6 per cent.
The Business to Business segment grew 9.3 per cent in the quarter to Rs 752 crore, with UVG of 14.8 per cent. However, export performance was impacted by geopolitical tensions in the Middle East, even as the project business maintained steady momentum.
Cost conditions supported profitability, with gross margins improving by around 100 basis points on a standalone basis and 160 basis points on a consolidated basis compared to the previous year, aided by lower input costs.
Commenting on the performance, Pidilite Industries Limited managing director Sudhanshu Vats said, “We have delivered strong mid-teens UVG and revenue growth with robust expansion in margins, underscoring the strength of our brands and business model.”
He added, “Consumer & Bazaar segment continued to accelerate, while Business-to-Business segment made steady progress despite external challenges. We remain focused on disciplined execution and expect domestic demand momentum to continue.”
The board has also recommended a final dividend of Rs 11.5 per equity share, subject to shareholder approval at the upcoming Annual General Meeting.
With strong brand equity across categories and sustained demand in both consumer and industrial segments, Pidilite continues to stick firmly to its formula of volume-led growth, innovation and steady margin expansion as it heads into FY27.
