Pidilite Ind reports 96% YoY jump in Q4 PAT

Pidilite Industries posted a 96.4% jump in consolidated net profit to Rs 307.44 crore on 44.7% jump in net sales to Rs 2235.52 crore in Q4 FY21 over Q4 FY20.

Profit before tax soared 85.1% to Rs 411.19 crore in Q4 March 2021 from Rs 222 crore in Q4 March 2020. EBITDA before non-operating income stood at Rs 460 crore in Q4 FY21, rising by 52% over the same quarter last year.

The adhesive maker's Consumer and Bazaar (C&B) segment registered volume and value growth in excess of 45% during this quarter. Robust growth was registered across all major categories like adhesives, construction chemicals and DIY segment driven by continued demand momentum in both rural and urban geographies.

The Business to Business (B2B) segment posted sequential strong volume and value growth in excess of 26% aided by gradual and consistent pick-up in economic activities. Overseas subsidiaries have reported high double-digit constant currency revenue growth as well as strong earnings growth.

The company's overseas subsidiaries reported high double-digit constant currency revenue growth as well as strong earnings growth.

The company posted a 0.4% rise in consolidated net profit to Rs 1126.13 crore in the year ended March 2021 (FY21) compared with Rs 1122 crore posted in year ended March 2020 (FY20). Net sales stood at Rs 7,292 crore in FY21 as against Rs 7294 crore in FY20. EBITDA for the year ended stood at Rs 1,683 crore and grew by 7% over last year.

Commenting on the quarter performance, Bharat Puri, MD of Pidilite Industries said, This quarter witnessed robust broad-based growth across all businesses and geographies. Despite significant challenges in FY 21, we have displayed adaptability and resilience while building capacity and capability. Gross margins continue to be impacted due to unprecedented inflation in input costs. Despite pricing and cost actions, we expect margins to remain under pressure in the coming quarters. The current second wave of the pandemic poses challenges and Pidilite remains committed to working with our partners to overcome this crisis.

Meanwhile, the company has announced a dividend of Rs 8.5 per share for the financial year ended 31 March 2021.

Pidilite Industries is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products and polymer emulsions in India.

Shares of Pidilite Industries rose 0.18% at Rs 1878.90 on BSE.

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