Conference Call with Pidilite Industries Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Specialty Chemicals company Pidilite Industries announced Q4FY23 & FY23 results: Consolidated Performance: Net sales for FY23 were Rs 11,752 crore and grew by 19% over FY22. Net sales for Q4FY23 at Rs 2,674 crore were higher by 7% over Q4FY22 EBITDA, before non-operating income for FY23 at Rs 1,984 crore, grew by 7% over FY22. EBITDA for Q4FY23 stood at Rs 459 crore, up by 14% over Q4FY22 Profit before tax and exceptional items (PBT) for FY23 at Rs 1,723 crore, grew by 7% over FY22. PBT for Q4FY23 stood at Rs 393 crore, higher by 13% over Q4FY22 Profit after tax (PAT) for FY23 at Rs 1,289 crore was up by 7% over FY22. PAT for Q4FY23 stood at Rs 286 crore, up by 12% over Q4FY22 Standalone Performance: Net sales for FY23 were Rs 10,545 crore and grew by 19% over FY22. Net sales for Q4FY23 at Rs 2,366 crore, higher by 7% over Q4FY22 EBITDA, before non-operating income for FY23 at Rs 1,855 crore, grew by 5% over FY22. EBITDA for Q4FY23 ended stood at Rs 436 crore, up by 12% over Q4FY22 Profit before tax and exceptional Items (PBT) for FY23 at Rs 1,668 crore, grew by 5% over FY22. PBT for Q4FY23 ended stood at Rs 389 crore, higher by 14% over Q4FY22 Profit after tax (PAT) for FY23 at Rs 1,257 crore was up by 6% over FY22. PAT for Q4FY23 at Rs 291 crore, up by 15% over Q4FY22 Commenting on the results, Bharat Puri, Managing Director, Pidilite Industries, said: "Despite the challenging environment on both the demand as well as input cost fronts throughout the year, we have delivered broad-based, robust value and volume growth across our businesses in geographies with revenue crossing Rs 11,000 crore for the first time. The current quarter's revenue growth is primarily driven by domestic demand. Gross margin improved during the quarter enabled by the easing of input prices. This enabled us to reinvest in our brands as well as a route to market. While the near-term environment is likely to remain uncertain, we look forward to the future with cautious optimism. The moderation in input costs, easing of inflation, and the growth in infrastructure and construction should enable us to deliver volume lead profitable growth. We remain committed to delivering broad-based consistent volume growth while continuing to invest in our brands, building capabilities across the digital landscape as well as building a resilient and future-ready supply chain." Result PDF