Pidilite Industries Ltd.

•

pidilite.comBSE: 500331NSE: PIDILITIND

Market Cap₹ 1,59,705 Cr.

Current Price

High / Low₹ 1,708 / 1,259

Stock P/E62.3

Book Value₹ 111

Price to Book12.45

Dividend Yield1.37 %

ROCE31.8 %

ROE23.7 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Consumer and Bazaar Products: 79.1% • Business to Business: 20.4% • Others: 0.4%

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 31.5%
Company has a good return on equity (ROE) track record: 3 Years ROE 23.4%
Operating margins have improved to 24.5% from 18.1%
Latest quarter profit grew 27.7% YoY, showing strong momentum
Company has delivered good sales growth of 16.8% CAGR over last 5 years

CONS

Stock is trading at 12.4x its book value
Recurring exceptional / one-off items are inflating headline profit
Expensive relative to growth - PEG of 2.6
Rich enterprise valuation - EV/EBITDA of 36.5x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsChemicals

Part ofNIFTY NEXT 50 NIFTY100 QUALTY30 NIFTYLARGEMIDCAP250 NIFTY100 LOWVOL30 NIFTY100 EQL WGT

S.No.	Name
1.	SOLARINDS	22390.00	101.74	202607.23	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1569.00	60.29	159705.32	1.37	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2507.70	34.39	74334.45	0.36	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4809.00	85.90	52826.86	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8697.60	56.51	44625.75	0.17	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1123.20	32.18	37835.11	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1645.90	28.66	22448.93	0.46	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1642.70	92.70	21803.20	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6345.45	23.49	18682.12	0.47	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	504.45	34.46	18297.75	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1335.35	17.19	16913.93	0.75	490.04	100.95	3256.26	22.47	12.12	25.96
12.	BASF	3692.20	24.86	15981.92	0.68	360.29	162.22	4824.26	24.57	15.23	10.46

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	2,964	2,780	2,834	2,589	3,146	2,977	3,099	2,851	3,479	3,287	3,436	3,285	42,494
	2,292	2,138	2,126	2,061	2,375	2,246	2,350	2,267	2,591	2,480	2,596	2,519	32,241
Operating Profit	671	643	708	528	771	731	749	584	888	807	840	766	10,253
OPM %	22.65%	23.11%	24.99%	20.38%	24.52%	24.55%	24.17%	20.48%	25.53%	24.54%	24.44%	23.31%	24.13%
	27	36	60	49	52	72	55	96	84	69	60	58	943
Interest	7	7	7	8	8	8	8	10	10	10	11	10	109
Depreciation	62	62	67	99	72	75	77	84	83	85	86	82	845
Profit before Tax	630	609	694	470	742	720	718	585	879	780	803	732	11,195
Tax %	25.81%	25.33%	24.70%	24.66%	25.70%	24.68%	25.61%	23.86%	26.11%	24.86%	25.13%	25.24%	25.87%
Net Profit	468	455	523	354	552	542	534	446	650	586	601	547	8,299
	9.20	8.94	10.28	6.97	10.84	5.33	5.25	4.38	12.78	5.76	5.91	5.38	8.15

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	4,865	5,354	6,094	6,333	6,216	8,896	10,597	11,167	12,073	13,488	14,258
	3,640	4,062	4,802	4,849	4,669	7,123	8,742	8,617	9,238	10,187	10,820
Operating Profit	1,225	1,292	1,292	1,484	1,548	1,772	1,855	2,550	2,835	3,300	3,437
OPM %	25.18%	24.14%	21.20%	23.43%	24.90%	19.92%	17.51%	22.83%	23.48%	24.47%	24.11%
	16	136	192	93	73	40	63	173	274	271	281
Interest	6	6	7	13	17	27	29	29	35	41	41
Depreciation	90	91	100	126	147	194	222	289	308	336	338
Profit before Tax	1,145	1,331	1,376	1,437	1,457	1,591	1,668	2,404	2,766	3,194	3,434
Tax %	32.40%	28.25%	28.84%	23.34%	25.76%	25.10%	24.62%	25.14%	25.02%	25.36%	25.33%
Net Profit	774	955	979	1,102	1,081	1,191	1,257	1,799	2,074	2,384	2,564
EPS	15.09	18.80	19.27	21.68	21.27	23.43	24.72	35.38	40.78	23.43	—
Dividend Payout %	31.47%	31.90%	33.71%	32.29%	39.94%	42.66%	44.47%	45.22%	49.05%	91.78%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 17%
3 Years:: 8%

COMPOUNDED PROFIT GROWTH

10 Years:: 12%
5 Years:: 17%
3 Years:: 24%

STOCK PRICE CAGR

10 Years:: 16%
5 Years:: 6%
3 Years:: 8%
1 Year:: 2%

RETURN ON EQUITY

10 Years:: 23%
5 Years:: 22%
3 Years:: 23%
Last Year:: 24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	51	51	51	51	51	51	51	51	51	102
	3,337	3,504	4,126	4,403	5,485	6,260	7,014	8,277	9,535	10,412
	2	43	46	59	117	192	158	167	217	219
Trade Payables	328	428	449	495	794	946	939	1,042	1,269	1,416
	2,033	2,422	2,828	3,372	4,063	4,253	5,235	6,337	7,377	8,470
Total Liabilities	5,751	6,448	7,500	8,379	10,510	11,701	13,396	15,873	18,448	20,619
	940	940	951	1,249	1,423	4,235	4,437	4,935	5,202	5,257
Capital Work in Progress	127	164	229	248	282	207	351	135	106	327
	1,793	1,786	2,190	1,824	3,482	1,085	1,447	2,813	4,173	4,928
	556	631	734	730	976	1,442	1,561	1,257	1,490	1,541
	0	0	0	0	0	0	0	1,406	1,556	1,865
Cash & Bank	50	78	117	569	112	151	156	382	215	142
	2,285	2,849	3,279	3,759	4,236	4,581	5,444	4,945	5,707	6,560
Total Assets	5,751	6,448	7,500	8,379	10,510	11,701	13,396	15,873	18,448	20,619

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,169	1,214	1,239	1,604	1,543	1,306	1,831	2,586	2,229	2,643
Cash from Investing	-791	24	-488	133	-1,679	-540	-754	-1,737	-1,515	-1,116
Cash from Financing	-37	-803	-371	-858	19	-436	-673	-623	-882	-1,600
	-19	19	-6	504	-459	-119	6	226	-168	-72

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.75	69.60	69.60	69.50	69.36	69.33	69.33	69.32	69.24
	11.59	11.96	11.79	11.60	12.13	12.08	12.01	11.75	11.69
	8.97	8.89	9.14	9.42	9.14	9.14	9.20	9.55	9.80
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	9.70	9.54	9.47	9.48	9.35	9.44	9.42	9.30	9.19

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Copy of Newspaper Publication

2026-09-09 - Pidilite Industries Limited has informed the Exchange about Copy of Newspaper Publication regarding Special Window for transfer anddematerialisation of physical securities

2026-09-03

General Updates

2026-09-03 - Pidilite Industries Limited has informed the Exchange about General Updates

2026-09-01

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-01 - Pidilite Industries Limited has informed the Exchange about Schedule of meet

2026-09-01

Action(s) initiated or orders passed

2026-09-01 - Pidilite Industries Limited has informed the Exchange about Action(s) initiated or orders passed

2026-08-26

Resignation of Director/KMP/SMP

2026-08-26 - Pidilite Industries Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-25

General Updates

2026-08-25 - Pidilite Industries Limited has informed the Exchange about Intimation under Regulation 30 - Resignation of SMP

2026-08-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24 - Pidilite Industries Limited has informed the Exchange about Schedule of meet

2026-08-21

ESOP/ESOS/ESPS

2026-08-21 - Pidilite Industries Limited has informed the Exchange regarding Allotment of 89340 Shares.

2026-08-20

Shareholders meeting

2026-08-20 - Pidilite Industries Limited has informed the Exchange with copy of minutes of Annual General Meeting held on August 04, 2026

News

Recent coverage and analyst commentary for PIDILITIND

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Pidilite Industries Ltd.

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Name

SOLARINDS

22390.00

101.74

202607.23

0.05

666.37

88.98

3668.20

70.26

38.16

27.91

PIDILITIND

1569.00

60.29

159705.32

1.37

8835.10

1202.86

45515.50

1112.74

32.38

26.28

SRF

2507.70

34.39

74334.45

0.36

758.87

75.53

5033.26

34.63

14.21

24.57

FLUOROCHEM

4809.00

85.90

52826.86

0.06

219.00

19.02

1588.00

23.97

9.58

26.83

NAVINFLUOR

8697.60

56.51

44625.75

0.17

243.31

107.67

1045.08

44.07

21.39

34.17

GODREJIND

1123.20

32.18

37835.11

0.00

523.36

-27.85

5448.09

22.16

10.64

12.82

DEEPAKNTR

1645.90

28.66

22448.93

0.46

345.01

207.36

2577.60

36.39

11.58

20.96

AETHER

1642.70

92.70

21803.20

0.00

62.75

33.45

326.56

27.49

11.65

31.47

ATUL

6345.45

23.49

18682.12

0.47

253.93

91.85

1847.95

25.03

15.05

21.41

AARTIIND

504.45

34.46

18297.75

0.20

155.00

260.47

2387.00

42.42

6.95

16.00

DEEPAKFERT

1335.35

17.19

16913.93

0.75

490.04

100.95

3256.26

22.47

12.12

25.96

BASF

3692.20

24.86

15981.92

0.68

360.29

162.22

4824.26

24.57

15.23

10.46

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

2,964

2,780

2,834

2,589

3,146

2,977

3,099

2,851

3,479

3,287

3,436

3,285

42,494

2,292

2,138

2,126

2,061

2,375

2,246

2,350

2,267

2,591

2,480

2,596

2,519

32,241

Operating Profit

671

643

708

528

771

731

749

584

888

807

840

766

10,253

OPM %

22.65%

23.11%

24.99%

20.38%

24.52%

24.55%

24.17%

20.48%

25.53%

24.54%

24.44%

23.31%

24.13%

943

Interest

109

Depreciation

845

Profit before Tax

630

609

694

470

742

720

718

585

879

780

803

732

11,195

Tax %

25.81%

25.33%

24.70%

24.66%

25.70%

24.68%

25.61%

23.86%

26.11%

24.86%

25.13%

25.24%

25.87%

Net Profit

468

455

523

354

552

542

534

446

650

586

601

547

8,299

9.20

8.94

10.28

6.97

10.84

5.33

5.25

4.38

12.78

5.76

5.91

5.38

8.15

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

4,865

5,354

6,094

6,333

6,216

8,896

10,597

11,167

12,073

13,488

14,258

3,640

4,062

4,802

4,849

4,669

7,123

8,742

8,617

9,238

10,187

10,820

Operating Profit

1,225

1,292

1,484

1,548

1,772

1,855

2,550

2,835

3,300

3,437

OPM %

25.18%

24.14%

21.20%

23.43%

24.90%

19.92%

17.51%

22.83%

23.48%

24.47%

24.11%

136

192

173

274

271

281

Interest

Depreciation

100

126

147

194

222

289

308

336

338

Profit before Tax

1,145

1,331

1,376

1,437

1,457

1,591

1,668

2,404

2,766

3,194

3,434

Tax %

32.40%

28.25%

28.84%

23.34%

25.76%

25.10%

24.62%

25.14%

25.02%

25.36%

25.33%

Net Profit

774

955

979

1,102

1,081

1,191

1,257

1,799

2,074

2,384

2,564

EPS

15.09

18.80

19.27

21.68

21.27

23.43

24.72

35.38

40.78

23.43

—

Dividend Payout %

31.47%

31.90%

33.71%

32.29%

39.94%

42.66%

44.47%

45.22%

49.05%

91.78%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

102

3,337

3,504

4,126

4,403

5,485

6,260

7,014

8,277

9,535

10,412

117

192

158

167

217

219

Trade Payables

328

428

449

495

794

946

939

1,042

1,269

1,416

2,033

2,422

2,828

3,372

4,063

4,253

5,235

6,337

7,377

8,470

Total Liabilities

5,751

6,448

7,500

8,379

10,510

11,701

13,396

15,873

18,448

20,619

940

951

1,249

1,423

4,235

4,437

4,935

5,202

5,257

Capital Work in Progress

127

164

229

248

282

207

351

135

106

327

1,793

1,786

2,190

1,824

3,482

1,085

1,447

2,813

4,173

4,928

556

631

734

730

976

1,442

1,561

1,257

1,490

1,541

1,406

1,556

1,865

Cash & Bank

117

569

112

151

156

382

215

142

2,285

2,849

3,279

3,759

4,236

4,581

5,444

4,945

5,707

6,560

Total Assets

5,751

6,448

7,500

8,379

10,510

11,701

13,396

15,873

18,448

20,619

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

1,169

1,214

1,239

1,604

1,543

1,306

1,831

2,586

2,229

2,643

Cash from Investing

-791

-488

133

-1,679

-540

-754

-1,737

-1,515

-1,116

Cash from Financing

-37

-803

-371

-858

-436

-673

-623

-882

-1,600

-19

-6

504

-459

-119

226

-168

-72

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

69.75

69.60

69.50

69.36

69.33

69.32

69.24

11.59

11.96

11.79

11.60

12.13

12.08

12.01

11.75

11.69

8.97

8.89

9.14

9.42

9.14

9.20

9.55

9.80

Government

0.00

9.70

9.54

9.47

9.48

9.35

9.44

9.42

9.30

9.19

Pidilite Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Pidilite Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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