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Pidilite Industries Ltd News

Pidilite sees Q2 demand holding steady, rules out immediate price hikes: MD

Adhesives and construction chemicals maker Pidilite Industries expects consumer demand to remain resilient despite inflationary pressures and does not see an immediate need for further price increases in the current quarter, Managing Director Sudhanshu Vats has said. The company, which took price increases of up to 12 per cent in tranches in the June quarter to offset the spike in crude prices triggered by the West Asia crisis, does not foresee the need for any fresh price hikes in the current quarter amid easing volatility, even as it remains watchful of the commodity's trajectory. Pidilite sees demand trends in July and August broadly in line with the June quarter, with overall consumer sentiment in India remaining "reasonably robust", Managing Director Sudhanshu Vats told PTI. "If you look at Q1 demand, demand in Q2 as well, as we travel and qualitatively see, is broadly holding," Vats said, adding that he was pleasantly surprised by the resilience in overall consumer sentiment .