Pidilite Industries shares hit an intraday of Rs 3219.25 a piece, rising 4.13 per cent on the BSE. The stock moved upwards on Thursday after the company reported its quarterly earnings for the second quarter of the financial year 2024-25 (Q2FY25).
Pidilite Industries reported a consolidated net profit increase of 17.83 per cent, reaching Rs 540.30 crore for the second quarter ended September 30, 2024, driven by favourable input prices and volume growth.
In the same quarter last year, the company, which specialises in adhesives, sealants, and construction chemicals, recorded a profit of Rs 458.53 crore, as stated in a regulatory filing.
Revenue from operations rose by 5.16 per cent to Rs 3,234.91 crore in the quarter under review, compared to Rs 3,076.04 crore in the corresponding period a year ago.
Total expenses for Pidilite Industries amounted to Rs 2,565.71 crore, reflecting an increase of 3.26 per cent in the September quarter.
Total income for Pidilite Industries, which includes other income, increased by 5.93 per cent to Rs 3,292.03 crore.
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The revenue growth for the current quarter was supported by an underlying volume growth (UVG) of 8 per cent, as noted by Pidilite Industries in its earnings statement.
"Input prices remain benign, leading to an expansion of gross margins by 281 basis points compared to the same quarter last year. Ebitda margins for the quarter were 24.6 per cent, which is an increase of 143 basis points from Q2 FY24," the company stated.
Demand for Consumer & Bazaar (C&B) products was affected by rains at the beginning of the quarter, with a consumer and bazaar underlying volume growth (UVG) of 6 per cent, while rural markets continued to outpace urban markets.
Revenue from the B2B segment also rose, increasing by 14.34 per cent to Rs 703.58 crore.
Looking ahead, Managing Director Bharat Puri expressed optimism for the second half, citing a healthy monsoon, increased government spending, and rising new construction activity. However, he noted the need to remain vigilant regarding the geopolitical situation and emphasised ongoing investments in growth initiatives and future supply chain development.
Pidilite Industries share price history
The company’s stock has outperformed the market year to date as it has risen 15.6 per cent, while gaining 32.7 per cent in the last one year. In comparison BSE Sensex has risen 10.7 per cent year to date and 23.9 per cent in a year.
The company has a total market capitalisation of Rs 1.58 trillion. Its shares are trading at a price to earnings multiple of 83.48 times and at an earning per share of Rs 37.03.
At 11:33 PM, the stock price of the company pared most of its and was up 1.05 per cent at Rs 3123.95 a piece on the BSE. By comparison, the BSE’s Sensex was down 0.04 per cent to 80,047.63 level.