Pidilite Industries Ltd. share price target

Pidilite Industries (PIDI) reported better than expected consolidated revenue growth of
60.1% YoY (3-year CAGR of 15.4%) on a low base

Consolidated Q1 net revenue increased 60% YoY to Rs 31bn as the C&B/B2B segments grew 64%/50%

Consolidated Q4 net revenue increased 12% YoY to Rs 25bn as the C&B/B2B segments grew 11%/21%

Although the company has generated strong revenue growth, input cost inflation has hurt the margins and will continue to do so in the inflationary market conditions. Hence, we maintain our HOLD rating on...

The company's consumer & bazaar (C&B) segment (adhesives & sealants, construction & paint chemical, art & craft materials) contributes 80% to topline while the B2B segment (industrial adhesive, resins and pigments) contributes ~20% to topline Has 4700+ distributors, strong balance sheet (RoE, 20%, RoCE, 24%) Q3FY22 Results: Revenue came in better than our estimates but EBITDA margin...

Consolidated Q3 net revenue up 24% YoY to Rs 28.5bn as C&B/B2B segments grew 23%/30%