Pidilite Industries shares up 4%, hit 52-week high on strong Q1FY25 results

Pidilite Industries shares hit 52-week high: Shares of adhesives, sealants, and construction chemicals manufacturer Pidilite Industries jumped nearly 4 per cent to Rs 3,277.80 on the BSE during the intra-day deals on Thursday. The northward move in the company's share is attributed to its strong financial results for the first quarter of FY25, reported on Wednesday, August 7, 2024.

During Q1FY25, the company's consolidated Profit After Tax (PAT) witnessed a jump of 21 per cent Year-on-Year (Y-o-Y) to Rs 571 crore. Pidilite Industries said that its EBITDA before non-operating income, in the quarter under review, stood at Rs 813 crore, growing by 15 per cent over the same quarter last year.

The company's net sales at Rs 3,384 crore grew by 4 per cent over the same quarter last year. On a like-to-like basis (excluding Pidilite USA and Pulvitec Brazil in the previous year), net sales grew by 6 per cent.

Commenting on the results, Bharat Puri, Managing Director, Pidilite Industries, said, “Despite challenging economic conditions because of election related impact as well as severe heat wave conditions in most parts of the country, we delivered robust UVG as well as healthy profitability in this quarter. Given a healthy monsoon and the ensuing festival season, we remain optimistic on market demand and our ability to deliver robust growths. We will continue to invest in growth facing

initiatives as well as building a resilient supply chain.”

Pidilite Industries Limited is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products, and polymer emulsions in India. Pidilite Industries' product range also includes paint chemicals, automotive chemicals, art materials and stationery, fabric care, maintenance chemicals, industrial adhesives, industrial resins, and organic pigments & preparations.

Pidilite Industries enjoys a market capitalization of Rs 1,61,028.26 crore on the BSE as of August 8, 2024. The specialty chemicals company is a constituent of the BSE 100 index on the BSE.

Shares of Pidilite Industries have offered a return of 17.25 per cent year-to-date, as per the BSE analytics. While the company's shares have sprinted 12.29 per cent in the last three months, 20.63 per cent in the last six months, and 20.55 per cent in the last year.

The 52-week range of Pidilite Industries' share is Rs 3,277.80 - 2,293.10.