Pidilite Industries posts 6.8 percent growth on sales

Pidilite Industries Limited, India's leading manufacturer of adhesives, sealants and construction chemicals today announced its financial results for the quarter and year ended March 31, 2017.

The Board of Directors has recommended a Dividend of Rs. 4.75 per share of Re. 1/- each for the financial year ended 31st March 2017 (as compared to Rs 4.15 per share last year).

Gross sales at Rs 1,397 Cr grew by 6.8% over the same quarter last year. Full year gross sales stood at Rs 6,033 Cr and grew by 6.3% over the prior year.

EBITDA, before non-operating income and exceptional items, stood at Rs 260 Cr for the quarter and grew by 7.7% over same quarter last year. EBITDA for the financial year 2016-17 stood at Rs 1,268 Cr, a growth of 7.6% over the previous financial year.

Profit after tax in the current quarter is Rs 157 Cr declined by 7% over same quarter in the last year. For the full financial year 2016-17, Profit after tax was Rs 863 Cr recording a growth of 6.9% over the previous year.

Gross sales at Rs 1,232 Cr grew by 6.6% over same quarter last year with underlying volume and mix growth at 7.8%. This was driven by 8.2% growth in sales volume and mix of Consumer & Bazaar products and 5.2% growth in sales volume and mix of Industrial Products. Gross sales for the financial year 2016-17 was Rs 5,270 Cr and grew by 4.7% over the prior year.

EBITDA, before non-operating income & exceptional items, at Rs 256 Cr is higher by 12.3% over the same quarter last year. EBITDA for the year was Rs 1,229 Cr and grew by 9.6% over the previous financial year.

Standalone results for the quarter and year is after providing for exceptional items aggregating to Rs 94 Cr related to impairment of Company's investment in subsidiaries. Net profit before exceptional items at Rs 165 Cr grew by 6% for the quarter and at Rs.868 Cr grew by 12% for the year.

Net Profit at Rs 71 Cr declined by 45% over same quarter last year. For the financial year 2016-17. Net Profit for the year at Rs 774 Cr grew by 3.6% over the previous financial year.

Commenting on the quarter performance, Mr. Bharat Puri, Managing Director, Pidilite Industries Ltd, said:

Q4 2016-17: "This quarter saw profitable, volume driven growth. In a challenging year, we continued to deliver steady sales growth, with focus on core categories and improvement in operational efficiencies.