Conference Call with Pidilite Industries Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Specialty Chemicals company Pidilite Industries announced Q1FY24 results: Consolidated Q1FY24: Net sales at Rs 3,264 crore grew by 6% over Q1FY23. EBITDA before non-operating income at Rs 707 crore grew by 34% over Q1FY23. Profit before Tax and Exceptional Items at Rs 644 crore grew by 36% over Q1FY23. Profit after tax at Rs 474 crore grew by 32% over Q1FY23 Standalone Q1FY24: Net sales at Rs 2,952 crore grew by 6% over Q1FY23. EBITDA before non-operating income at Rs 671 crore grew by 38% over Q1FY23. Profit before Tax and Exceptional Items at Rs 630 crore grew by 42% over Q1FY23. Profit after Tax at Rs 468 crore grew by 40% over Q1FY23. Commenting on the results, Bharat Puri, Managing Director, Pidilite Industries, said, "We started the year on a strong note with our domestic consumer businesses delivering robust volume growths. B2B, exports, and international businesses continued to face sluggish demand conditions. A combination of moderating input prices and operational efficiencies saw our gross margins improve substantially. Part of this was reinvested in our brands and growth-facing initiatives. Looking ahead, growths will largely be volume led. A good monsoon, increased construction activity, and stable input prices enable us to look at the future with increased optimism." Result PDF