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Pidilite Industries

PIDILITIND NSE
₹1,510.20 No trade today
P/E
58.04
View as Markdown
MCP
Close 4 Nov 2026 ₹1,510.20 +67.40 +4.67% 1Y
Start ₹1,442.80

Key Fundamentals

LargecapChemicals & PetrochemicalsChemicals

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
31.00%
Debt to Equity
0.04
EPS (TTM)
₹26.02
Book Value
₹110.08
Market Cap
—
P/E (TTM)
58.04
P/B
13.72
ROE
23.90%
Dividend Yield
1.42%
EBITDA
₹3,785 Cr
52W High
₹1,707.50
52W Low
₹1,259.00
Volume
0

Peer Comparison

Commodities › Chemicals › Specialty Chemicals

Pidilite Industries peer comparison
Pidilite Industries (this company)
₹1,510.2058.04₹1,54,107 Cr13.721.42%23.90%31.00%₹15,399 Cr₹2,677 Cr
Gujarat Fluorochemicals
₹4,613.3083.76₹49,073 Cr6.040.07%7.82%9.64%₹5,303 Cr₹600 Cr
Navin Fluorine International
₹8,785.0057.03₹44,060 Cr10.100.09%19.60%21.00%₹3,634 Cr₹789 Cr
Deepak Nitrite
₹1,578.4027.48₹20,919 Cr3.320.49%9.82%11.40%₹8,575 Cr₹784 Cr
Aether Industries
₹1,540.7086.90₹20,030 Cr7.880.00%9.66%11.90%₹1,231 Cr₹235 Cr
Aarti Industries
₹447.5530.57₹15,838 Cr2.590.23%7.13%6.86%₹9,010 Cr₹531 Cr
Atul
₹5,156.5019.67₹14,827 Cr2.310.59%11.50%14.90%₹6,969 Cr₹788 Cr
Median 7 companies₹1,578.4057.03₹20,919 Cr6.040.23%9.82%11.90%₹6,969 Cr₹784 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

56 Good

Data confidence 100/100

Category scores

Quality
71
Strong
Returns, margins, earnings quality 22% weight
Valuation
36
Poor
Cheap vs sector & own history 24% weight
Growth
55
Average
Sales & profit trajectory 9% weight
Financial Health
88
Strong
Solvency, leverage, coverage 9% weight
Momentum
50
Average
Trend strength, vol-adjusted 12% weight
Ownership
49
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 48.0%

Weaknesses

1
  • Stock is trading at 13.9 times its book value

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallNeutral838
OscillatorsNeutral333
Moving AveragesNeutral505

Key readings

RSI (14)
53.30
Neutral
MACD (12,26,9)
−13.48
Bullish
SMA (50)
1,535.63
Bearish
SMA (200)
1,499.71
Bullish

As of

Analyst Rating

Based on 19 analysts
BUY74%

14 of 19 analysts rate Buy, 2 Hold, 3 Sell.

As of

BUY
14
74%
HOLD
2
11%
SELL
3
16%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+10.54%
5Y+14.89%
3Y+7.36%
1Y+11.12%
TTM+14.08%

Net profit

Net profit growth by window
10Y+11.84%
5Y+17.02%
3Y+24.22%
1Y+17.89%
TTM+21.52%

Operating cash flow

Operating cash flow growth by window
10Y+12.04%
5Y+15.23%
3Y+21.98%
1Y+23.66%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+2.23 pp
5Y+0.99 pp
3Y+7.28 pp
1Y+1.20 pp
TTM+1.22 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹5,617 Cr
Mar 2018₹6,078 Cr
Mar 2019₹7,078 Cr
Mar 2020₹7,294 Cr
Mar 2021₹7,293 Cr
Mar 2022₹9,921 Cr
Mar 2023₹11,799 Cr
Mar 2024₹12,383 Cr
Mar 2025₹13,140 Cr
Mar 2026₹14,601 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹863 Cr
Mar 2018₹966 Cr
Mar 2019₹928 Cr
Mar 2020₹1,122 Cr
Mar 2021₹1,126 Cr
Mar 2022₹1,207 Cr
Mar 2023₹1,289 Cr
Mar 2024₹1,747 Cr
Mar 2025₹2,096 Cr
Mar 2026₹2,471 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹983 Cr +3.8% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 2 Nov 2026
AI opinion · based on fundamentals
Risk medium

Pidilite Industries Ltd trades at ₹1,488 as of 2026-11-02 with a market capitalization of ₹1,49,282 crore. The company commands a PE of 57.19x and an ROE of 22.36%, reflecting a premium consumer-chemicals franchise that is virtually debt-free (debt-to-equity of 0.04) but priced at 13.52x book value.

Bull Case 7
  • Near-zero leverage with a debt-to-equity ratio of just 0.04, providing significant financial flexibility and resilience through economic cycles.
  • Strong return ratios with ROE of 22.36% and ROCE of 28.48% as of 2026-11-02, indicating efficient capital allocation and durable competitive advantages.
  • Consistent long-term ROE averaging 23% over 10 years and 22% over 5 years, demonstrating the stability and moat of the franchise.
  • Compounded profit growth of 25% over 3 years and 20% on a TTM basis shows accelerating earnings momentum relative to the 10-year average of 12%.
  • TTM sales growth of 14% alongside TTM profit growth of 20% indicates improving operating leverage and margin expansion.
  • Healthy and consistent dividend payout of 48.0%, with a current dividend yield of 1.47%, rewarding shareholders while still reinvesting for growth.
  • 10-year compounded sales growth of 11% and profit growth of 12% reflect a track record of steady, sustained expansion over a full business cycle.
Bear Case 6
  • Price-to-book ratio of 13.52x (also noted at 13.9x book value) signals the stock trades at a steep premium to its net asset base.
  • Stock price CAGR of just 5% over 5 years and 8% over 3 years has significantly lagged the compounded profit growth over the same periods, suggesting valuation compression.
  • Negative 1-year stock CAGR of -3% and a decline of roughly 12.9% from the 52-week high of ₹1,707.50 indicate recent price weakness.
  • 3-year compounded sales growth of only 7% is notably slower than the 5-year rate of 15%, raising questions about top-line deceleration.
  • At a market cap of ₹1,49,282 crore and TTM EPS of ₹26.02, the earnings base is modest relative to the valuation, amplifying downside risk if growth slows.
  • Dividend yield of 1.47% offers limited income cushion for investors at current prices, especially given the high PE multiple.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Recent newsflow for Pidilite is largely procedural with no material headwinds surfacing. The appointment of a seasoned CFO-designate signals leadership continuity, while a sizable block trade flags institutional interest without confirmed directional bias. With Q2FY27 results due October 29, the near-term catalyst will be earnings performance and management commentary on demand trends and margins.

Positives 1
  • New CFO-designate appointed Oct 9

    Pidilite appointed Amit Agarwal as CFO-designate effective October 9, 2026, bringing over 22 years of finance experience to strengthen the leadership team.

Neutral 1
  • Q2FY27 earnings call scheduled Oct 13

    Pidilite will host its Q2FY27 earnings conference call on October 29, 2026 at 3:30 pm, with MD Sudhanshu Vats and key management participating.

Quarterly Results

₹ Cr
PIDILITIND quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
3,275
3,076
3,130
2,902
3,395
3,235
3,369
3,141
3,753
3,554
3,710
3,583
4,552
4,298
Expenses
2,569
2,398
2,388
2,327
2,583
2,467
2,571
2,509
2,812
2,704
2,816
2,753
3,358
3,420
Operating Profit
706
678
742
575
812
768
798
632
941
850
894
831
1,194
877
OPM %
22%
22%
24%
20%
24%
24%
24%
20%
25%
24%
24%
23%
26%
20%
Other Income
23
32
37
−23
54
57
56
55
86
50
60
57
109
70
Interest
12
13
13
13
12
12
12
14
14
13
13
14
13
13
Depreciation
73
75
79
113
84
88
90
97
97
100
101
97
97
100
PBT
645
623
687
426
770
725
752
577
916
788
840
779
1,192
834
Tax %
26%
26%
26%
29%
26%
25%
26%
26%
26%
26%
26%
25%
26%
25%
Net Profit
474
459
511
304
571
540
557
428
678
585
624
584
884
626
EPS (₹)
4.6
4.43
5.02
2.96
5.57
5.26
5.43
4.15
6.61
5.69
6.07
5.69
8.57
—

Sep 2026: from the results filed on 28 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
PIDILITIND profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,844
5,361
5,617
6,078
7,078
7,294
7,293
9,921
11,799
12,383
13,140
14,601
15,399
Expenses
4,073
4,188
4,355
4,737
5,707
5,718
5,606
8,065
9,813
9,675
10,130
11,080
11,630
Operating Profit
771
1,173
1,262
1,341
1,371
1,576
1,686
1,856
1,986
2,708
3,011
3,521
3,769
OPM %
16%
22%
22%
22%
19%
22%
23%
19%
17%
22%
23%
24%
24%
Other Income
40
81
115
153
130
97
74
39
55
63
221
248
275
Interest
16
13
14
16
26
34
37
42
48
51
50
54
54
Depreciation
118
100
115
120
133
170
201
240
270
341
358
395
395
PBT
678
1,141
1,248
1,359
1,342
1,470
1,522
1,614
1,723
2,379
2,826
3,320
3,596
Tax %
25%
29%
31%
29%
31%
24%
26%
25%
25%
27%
26%
26%
—
Net Profit
514
807
863
966
928
1,122
1,126
1,207
1,289
1,747
2,096
2,471
2,676
EPS (₹)
5
7.83
8.39
9.48
9.1
10.99
11.13
11.88
12.52
17
20.41
24.06
26.02
Div. Payout %
29%
26%
28%
32%
36%
32%
38%
42%
44%
47%
49%
48%
—

Balance Sheet

₹ Cr
PIDILITIND balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
51
51
51
51
51
51
51
51
51
51
51
102
Reserves
2,219
2,587
3,420
3,523
4,097
4,405
5,542
6,353
7,161
8,356
9,704
10,730
Borrowings
58
80
98
125
113
288
331
416
391
382
454
417
Other Liabilities
986
996
1,202
1,500
1,643
1,779
2,890
2,675
2,902
3,286
3,775
4,149
Total Liabilities
3,315
3,714
4,770
5,199
5,904
6,523
8,814
9,494
10,505
12,076
13,984
15,399
Fixed Assets
978
1,137
1,275
1,342
1,448
1,807
4,418
4,703
4,914
5,451
5,705
5,774
CWIP
462
158
148
228
242
259
294
225
406
148
129
329
Investments
370
706
1,443
1,246
1,548
1,186
516
459
881
2,235
3,551
4,350
Other Assets
1,505
1,713
1,904
2,383
2,666
3,270
3,586
4,107
4,304
4,242
4,598
4,947
Total Assets
3,315
3,714
4,770
5,199
5,904
6,523
8,814
9,494
10,505
12,076
13,984
15,399

Cash Flow

₹ Cr
PIDILITIND cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
552
907
794
796
845
1,280
1,392
955
1,558
2,724
2,287
2,828
Investing
−436
−491
−879
39
−513
103
−1,688
−558
−899
−1,769
−1,542
−1,224
Financing
−165
−371
41
−790
−361
−849
−76
−468
−656
−742
−918
−1,673
Net Cash Flow
−49
45
−45
46
−29
533
−372
−71
2
212
−173
−68
Free Cash Flow
143
742
671
524
591
836
1,040
581
1,060
2,171
1,839
2,239
CFO/EBITDA
94
104
92
91
91
106
105
76
99
124
100
105

Ratios

PIDILITIND financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
44
48
50
56
54
54
66
53
47
49
50
55
Inventory Days
88
89
100
102
95
100
133
114
98
86
103
98
Days Payable
45
53
54
69
59
67
109
70
57
70
85
86
Cash Conversion Cycle
86
84
96
89
90
88
91
96
88
66
68
66
Working Capital Days
27
36
40
49
48
36
23
43
40
19
19
18
ROCE %
32%
45%
39%
36%
33%
33%
28%
25%
24%
30%
30%
31%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Pidilite Industries insights

64 extracted metrics across FY09–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 69.18%
  • FIIs 12.42%
  • DIIs 9.21%
  • Public 7.55%
  • Others 1.64%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Pidilite Industries

What does Pidilite Industries Ltd do?
Pidilite Industries Limited is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY products and polymer emulsions in India. Most of the products have been developed through strong in-house R&D.
Where is Pidilite Industries Ltd (PIDILITIND) listed?
Pidilite Industries Ltd trades as PIDILITIND on the NSE and under code 500331 on the BSE.
Which sector does Pidilite Industries Ltd belong to?
Pidilite Industries Ltd is classified under the Chemicals sector, in the Specialty Chemicals industry.
What is the PE ratio of Pidilite Industries Ltd?
Pidilite Industries Ltd trades at a PE ratio of 58.04 as of 4 Nov 2026, on earnings per share of ₹26.02, against a book value of ₹110.08 per share.
What is the 52-week high and low of Pidilite Industries Ltd?
Over the last 52 weeks Pidilite Industries Ltd has traded between ₹1,259 and ₹1,707.5 as of 4 Nov 2026.
Does Pidilite Industries Ltd pay dividends?
Pidilite Industries Ltd has a dividend yield of 1.42%.
What is the Return on Equity (ROE) of Pidilite Industries Ltd?
Pidilite Industries Ltd reported a return on equity of 23.90%. Its debt-to-equity ratio is 0.04.

Company Information

Pidilite Industries Limited is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY products and polymer emulsions in India. Most of the products have been developed through strong in-house R&D. Our brand name Fevicol has become synonymous with adhesives to millions in India and is ranked amongst the most trusted brands in the country. Some of our other major brands are M-Seal, Fevikwik, Fevistik, Roff, Dr. Fixit, Fevicryl, Motomax, Hobby Ideas, Araldite.

Website pidilite.com
CEO Mr. Madhukar Balvantray Parekh
Employees 8,153
Listed 25 Oct 1993
Face Value ₹1

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