Pidilite Industries Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for PIDILITIND, BSE:500331 Pidilite Industries Ltd.

Pidilite Industries Ltd.

15 Sep 2020

2889.60

-0.63%

Transformative changes underway

Neutral: Pidilite Industries Ltd.

Target

Motilal Oswal

The company targets ~INR1b revenue or higher for the Pioneer categories over the next The Core business (Fevicol and sub-brands Fevikwik, M-Seal, and Fevicryl) is likely to grow at 12x GDP. This means that and Bazaar (C&B;) and B2B products over the next three to four years, by the end of which the Growth and Pioneer categories are likely to comprise around half of sales. The companys clutter-breaking marketing is also Compared with the erstwhile approach of focusing on a multitude of geographies, including the US and Brazil, in recent years, the company has decided to focus on certain emerging markets with high growth potential and where an India-like All the Pioneer category brands are in the nascent categories; thus, the company is trying to grow the categories using innovation and technology and by leveraging on R&D; is gaining increasing importance, with a nearly 2.5x increase seen in R&D; spends over the past five years.

Pidilite Industries Ltd. is trading below all available SMAs

Pidilite Industries Ltd.

08 Aug 2020

2889.60

-0.63%

Outlook improving gradually, B2B expected to be a laggard

Neutral: Pidilite Industries Ltd.

Target

Motilal Oswal

While the structural investment case remains intact, the recent earnings track record, lower ROCEs (in the mid-20 levels) v/s consumer peers, and valuations of 54x FY22 do not leave much room for us to turn constructive from a one- Overall gross margins expanded 210bp YoY to 53.5%. Revenue from domestic subsidiaries declined 82.2% YoY to INR295m in 1QFY21; EBITDA stood at INR308m v/s INR176m in 1QFY20. The management expects this to continue in the near term, with the caveat that these low levels are unlikely to sustain as the demand Improvement in the demand scenario is likely to lead to positive topline and FY2022 is likely to be muted. While the structural investment case remains intact, the recent earnings track record, lower ROCEs (in the mid-20 levels) v/s consumer peers, and valuations of 54x FY22 do not leave much room for us to turn constructive from a one-year with TP of INR1,335 (50x Jun22 EPS).

Number of FII/FPI investors increased from 845 to 853 in Jun 2025 qtr.

Pidilite Industries Ltd.

08 Aug 2020

2889.60

-0.63%

Pidilite Industries

Buy: Pidilite Industries Ltd.

Recommendation Target

ICICI Securities Limited

Sharp decline in Q1 revenue amid lockdown Consolidated revenue fell ~56% YoY to ~| 878 crore in Q1FY21 due to sales loss for almost 40 days in domestic operations amid lockdown. The standalone revenue fell ~57% YoY led by ~58% decline in volume mix. Overseas subsidiaries recorded revenue de-growth of ~36% YoY led by revenue decline of ~49%, ~30% and ~25% YoY in Asia, Middle East and America regions, respectively. Further, domestic subsidiaries also recorded a sharp revenue fall of 82% YoY led by sharp fall in volume. Post relaxation...

Pidilite Industries Ltd. is trading below all available SMAs

Pidilite Industries Ltd.

07 Aug 2020

2889.60

-0.63%

Q1FY21 Result Update - Strong Recovery, Input costs provide tailwinds - HOLD

Hold: Pidilite Industries Ltd.

Target

Prabhudas Lilladhar

like 1) waterproofing 2) construction chemicals and aids 3) Wood coatings and 4) Floor coatings etc. we believe investment in Papperfry and Tenex India Stone Products will open further growth opportunities in its core categories. We would watch out for trends in Gross margins in FY22/23 as Pidilite had retained 500bps gross margin expansion during previous low raw material cycle. We estimate 1.2% decline in FY21 EPS and 19.1% PAT CAGR over FY21-23. We value the stock at Rs1415 based on SOTP (45x Sep-22 to...

Pidilite Industries Ltd. is trading below all available SMAs

Pidilite Industries Ltd.

19 Jun 2020

2889.60

-0.63%

Pidilite Industries

Hold: Pidilite Industries Ltd.

Recommendation

ICICI Securities Limited

Revenue loss of | 150 crore due to lockdown Consolidated revenue declined 6% YoY to | 1547 crore mainly due lockdown in March 2020. Pidilite lost revenue of ~| 150 crore due to lockdown. Standalone revenue posted growth of 9.6% YoY till March 21, 2020. However, the lockdown situation eroded growth, which led to 4% YoY de-growth in revenue for Q4FY20. Post relaxation of lockdown, suburban and rural India saw a faster recovery in demand but volume offtake is still...

Pidilite Industries .. has an average target of 3178.50 from 4 brokers.

Pidilite Industries Ltd.

18 Jun 2020

2889.60

-0.63%

Pidilite Industries (SELL): Lockdown weighs on growth

Sell: Pidilite Industries Ltd.

Target

BOB Capital Markets Ltd.

Pidilite Industries' (PIDI) consolidated Q4FY20 revenue declined 6% YoY as volumes slipped 3% in the domestic consumer & bazaar (CBP) segment.

Pidilite Industries .. has an average target of 3178.50 from 4 brokers.

Pidilite Industries Ltd.

15 Apr 2020

2889.60

-0.63%

PIDLITE INDUSTRIES

Buy: Pidilite Industries Ltd.

Recommendation Target

Geojit BNP Paribas

Pidilite Industries Ltd. is trading below all available SMAs

Pidilite Industries Ltd.

30 Mar 2020

2889.60

-0.63%

Pidilite Industries

Buy: Pidilite Industries Ltd.

Recommendation Target

ICICI Securities Limited

Our interaction with managements and dealers indicates significant prebuying activity of consumer goods during January-February 2020 on fears of supply related issues from China. While companies have secured supplies to avoid any disturbance in sales in Q4FY20, demand was negatively impacted in March 2020 owing to holiday and post that lockdown across countries. We also believe a late recovery in demand for consumer goods will also impact Q1FY21 performance due to 1) shortage of workers (due to heavy migration), 2) shift in focus on essential goods compared to discretionary products and 3) streamlining of supply chain....

Pidilite Industries .. has an average target of 3178.50 from 4 brokers.

Pidilite Industries Ltd.

10 Feb 2020

2889.60

-0.63%

PIDLITE INDUSTRIES

Hold: Pidilite Industries Ltd.

Target

Geojit BNP Paribas

Input costs ease; Demand still remains weak Pidilite is a leading manufacturer of adhesives in India. It owns the flagship Fevicol brand. In FY19, Pidilite derived ~84% & ~16% of its turnover from...

Pidilite Industries Ltd. is trading below all available SMAs

Pidilite Industries Ltd.

31 Jan 2020

2889.60

-0.63%

Pidilite Industries

Hold: Pidilite Industries Ltd.

Target

ICICI Securities Limited

The standalone volume, value growth at ~3%, 5%, respectively, was mainly due to muted C&B; volume growth at 2% YoY led by poor demand in urban India (largely from real estate) and liquidity issue. On the industrial front, volumes grew 13% YoY. Further, while the performance of domestic subsidiaries (revenue declined ~3% YoY) was marred by a slowdown in real estate, auto and engineering industry, overseas subsidiaries recorded revenue growth of 10% led by the strong performance of the company in Bangladesh and Sri Lanka. The management reiterated the future volume...

Pidilite Industries Ltd. is trading below all available SMAs

Is Pidilite Industries Ltd. worth buying?

755 Votes:

Buy 70.33%

Sell 18.15%

Hold 11.52%

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