PIDILITIND

Pidilite Industries Limited

India's largest adhesives maker — Fevicol, plus a broader specialty chemicals business

Commodities›Chemicals›Chemicals & Petrochemicals›Specialty Chemicals

pidilite.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1502.80
Market cap
1,52,982 Cr
Stock P/E
57.8
P/B
14.12
Dividend yield
1.0%
ROE (FY26)
22.2%
ROCE (FY26)
29.4%
Operating margin (FY26)
21.4%
Debt / equity (FY26)
0.04
OCF / EBITDA (FY26)
80.4%
OCF / EBITDA (3Y)
84.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Pidilite makes adhesives and specialty chemicals, selling mainly to retail users such as carpenters, painters, plumbers and households through its Consumer and Bazaar segment, and to industrial customers through its Business to Business segment.

Company snapshot

1stBy market cap

Ranked among 68 companies in Specialty Chemicals.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 80.5% of revenue

SegmentRevenue shareRevenuePBTAssets
Business to Business
20.9%
648 Cr117 Cr1,601 Cr
Consumer & Bazaar
80.5%
2,494 Cr763 Cr6,715 Cr
Others
0.4%
13 Cr0.66 Cr9 Cr

Shares add up to 102% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Net margin of 16.9% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales3,076 Cr3,130 Cr2,902 Cr3,395 Cr3,235 Cr3,369 Cr3,141 Cr3,753 Cr3,554 Cr3,710 Cr3,583 Cr4,552 Cr
Operating expenses (approx.)2,396 Cr2,388 Cr2,325 Cr2,583 Cr2,466 Cr2,571 Cr2,509 Cr2,812 Cr2,704 Cr2,815 Cr2,751 Cr3,358 Cr
EBITDA680 Cr742 Cr577 Cr813 Cr769 Cr798 Cr633 Cr941 Cr851 Cr894 Cr833 Cr1,194 Cr
OPM %22.1%23.7%19.9%23.9%23.8%23.7%20.1%25.1%23.9%24.1%23.2%26.2%
Other income32 Cr37 Cr49 Cr54 Cr57 Cr56 Cr80 Cr86 Cr50 Cr66 Cr65 Cr92 Cr
Interest13 Cr13 Cr13 Cr12 Cr12 Cr12 Cr14 Cr14 Cr13 Cr13 Cr14 Cr13 Cr
Depreciation75 Cr79 Cr113 Cr84 Cr88 Cr90 Cr97 Cr97 Cr100 Cr101 Cr97 Cr97 Cr
Profit before tax622 Cr687 Cr426 Cr770 Cr725 Cr752 Cr576 Cr916 Cr787 Cr840 Cr777 Cr1,192 Cr
Tax %26.2%25.7%28.6%25.8%25.5%25.9%25.8%26.0%25.7%25.7%24.8%25.9%
Net profit459 Cr511 Cr304 Cr571 Cr540 Cr557 Cr428 Cr678 Cr585 Cr624 Cr584 Cr884 Cr
EPS (₹)₹8.85₹10.04₹5.91₹11.15₹10.51₹10.86₹8.30₹13.22₹5.69₹6.07₹5.69₹8.57

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6,062 Cr6,219 Cr7,079 Cr7,294 Cr7,293 Cr9,921 Cr11,799 Cr12,383 Cr13,140 Cr14,601 CrSign in free for the trailing twelve months
Operating expenses (approx.)4,803 Cr4,878 Cr5,711 Cr5,718 Cr5,612 Cr8,074 Cr9,815 Cr9,676 Cr10,128 Cr11,082 CrSign in free for the trailing twelve months
EBITDA1,260 Cr1,341 Cr1,368 Cr1,576 Cr1,681 Cr1,847 Cr1,984 Cr2,707 Cr3,013 Cr3,519 CrSign in free for the trailing twelve months
OPM %20.8%21.6%19.3%21.6%23.0%18.6%16.8%21.9%22.9%24.1%Sign in free for the trailing twelve months
Other income112 Cr148 Cr147 Cr149 Cr79 Cr36 Cr50 Cr140 Cr247 Cr266 CrSign in free for the trailing twelve months
Interest14 Cr16 Cr26 Cr34 Cr37 Cr42 Cr48 Cr51 Cr50 Cr54 CrSign in free for the trailing twelve months
Depreciation115 Cr120 Cr133 Cr170 Cr201 Cr240 Cr270 Cr341 Cr358 Cr395 CrSign in free for the trailing twelve months
Profit before tax1,248 Cr1,359 Cr1,342 Cr1,470 Cr1,522 Cr1,614 Cr1,723 Cr2,379 Cr2,823 Cr3,320 CrSign in free for the trailing twelve months
Tax %30.8%28.9%30.8%23.7%26.0%25.2%25.2%26.6%25.7%25.6%Sign in free for the trailing twelve months
Net profit863 Cr966 Cr928 Cr1,122 Cr1,126 Cr1,207 Cr1,289 Cr1,747 Cr2,096 Cr2,471 CrSign in free for the trailing twelve months
EPS (₹)₹16.77₹18.95₹18.21₹21.98₹22.26₹23.76₹25.05₹34.01₹40.82₹24.07Sign in free for the trailing twelve months
Dividend payout %————-0.1%35.8%39.4%32.0%38.8%61.8%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital51 Cr51 Cr51 Cr51 Cr51 Cr51 Cr51 Cr51 Cr51 Cr102 Cr
Reserves3,420 Cr3,523 Cr4,097 Cr4,405 Cr5,542 Cr6,353 Cr7,161 Cr8,356 Cr9,704 Cr10,730 Cr
Borrowings98 Cr123 Cr111 Cr169 Cr214 Cr287 Cr163 Cr131 Cr147 Cr417 Cr
Other liabilities1,078 Cr1,333 Cr1,448 Cr1,695 Cr2,784 Cr2,626 Cr2,916 Cr3,356 Cr3,907 Cr3,967 Cr
Total liabilities4,774 Cr5,204 Cr5,915 Cr6,536 Cr8,830 Cr9,516 Cr10,525 Cr12,104 Cr14,011 Cr15,433 Cr
Fixed assets (net)789 Cr803 Cr913 Cr1,289 Cr1,443 Cr1,758 Cr2,001 Cr2,554 Cr2,836 Cr2,931 Cr
CWIP148 Cr228 Cr242 Cr259 Cr294 Cr225 Cr406 Cr148 Cr129 Cr329 Cr
Investments1,443 Cr1,246 Cr1,548 Cr1,186 Cr516 Cr459 Cr881 Cr2,235 Cr3,551 Cr4,350 Cr
Loans & advances——12 Cr17 Cr17 Cr17 Cr27 Cr34 Cr38 Cr37 Cr
Inventories721 Cr804 Cr934 Cr929 Cr1,234 Cr1,695 Cr1,817 Cr1,415 Cr1,685 Cr1,738 Cr
Trade receivables769 Cr938 Cr1,056 Cr1,089 Cr1,321 Cr1,431 Cr1,535 Cr1,675 Cr1,811 Cr2,181 Cr
Cash & bank90 Cr149 Cr128 Cr692 Cr443 Cr352 Cr310 Cr515 Cr324 Cr232 Cr
Other assets814 Cr1,036 Cr1,081 Cr1,074 Cr3,563 Cr3,579 Cr3,548 Cr3,527 Cr3,637 Cr3,635 Cr
Total assets4,774 Cr5,204 Cr5,915 Cr6,536 Cr8,830 Cr9,516 Cr10,525 Cr12,104 Cr14,011 Cr15,433 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity794 Cr796 Cr845 Cr1,280 Cr1,481 Cr955 Cr1,558 Cr2,724 Cr2,285 Cr2,829 Cr
Cash from investing-879 Cr39 Cr-513 Cr103 Cr9,009 Cr-558 Cr-899 Cr-1,770 Cr-1,540 Cr-1,225 Cr
Cash from financing41 Cr-790 Cr-361 Cr-849 Cr128 Cr-468 Cr-656 Cr-742 Cr-918 Cr-1,673 Cr
Net cash flow-45 Cr46 Cr-29 Cr533 Cr10,618 Cr-71 Cr2 Cr213 Cr-173 Cr-68 Cr
Free cash flow (OCF − Capex)661 Cr620 Cr582 Cr812 Cr1,481 Cr581 Cr1,052 Cr2,166 Cr1,833 Cr2,237 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %34.2%35.5%30.6%31.1%25.8%24.0%23.3%27.8%28.4%29.4%
ROE %23.9%25.8%21.3%23.9%19.4%18.3%17.1%20.1%20.9%22.2%
Debtor days46555454665247495054
Inventory days116114104113149122111101114113
Days payable6377657612176658294100
Cash conversion cycle99929492939993687067
OCF / EBITDA %63.0%59.4%61.7%81.2%88.1%51.7%78.5%100.6%75.9%80.4%
OCF / EBITDA % (3 years)——61.3%68.2%77.9%72.8%72.4%80.1%85.2%84.8%
Debt / equity0.030.030.030.040.040.040.020.020.020.04
Current ratio3.072.742.752.331.441.731.892.092.272.38
Net debt / EBITDA0.0057—-0.01-0.33-0.14-0.04-0.07-0.14-0.060.05