Pidilite Industries Reports Double-Digit Revenue Growth with Strong Volume Momentum and Margin Expansion

Mumbai, Feb 04: Pidilite Industries Limited, India’s leading manufacturer of adhesives, sealants, and construction chemicals, today announced its financial results for the quarter and nine months ended December 31, 2025, reporting strong double-digit growth across revenue and profitability, supported by robust underlying volume growth and improved margins.

Standalone Financial Performance

During the third quarter of FY26, Pidilite recorded net sales of ₹3,425 crore, registering a growth of 11.0% compared to the same quarter last year. This performance was driven by healthy underlying volume growth (UVG) of 9.3%, reflecting sustained demand across key categories.

Earnings before interest, tax, and depreciation (EBITDA) for the quarter stood at ₹840 crore, marking a 12.1% year-on-year increase. EBITDA margin improved to 24.5%, expanding by 24 basis points over Q3 FY25. Profit after tax for the quarter rose by 12.5% to ₹601 crore.

For the nine months ended December 2025, standalone net sales grew by 10.7% to ₹10,165 crore. EBITDA increased by 12.6% to ₹2,535 crore, with margins improving to 24.9%. Profit after tax for the period rose by 12.8% to ₹1,837 crore.

Gross margins during the quarter improved by 200 basis points compared to last year, aided by lower input costs. This benefit was partially offset by a one-time provision related to the new labour code and increased investments in advertising, sales, and promotion.

Consolidated Financial Performance

On a consolidated basis, Pidilite reported net sales of ₹3,699 crore for Q3 FY26, reflecting a growth of 10.2% over the corresponding quarter of the previous year. EBITDA before non-operating income rose by 12.0% to ₹894 crore, while EBITDA margin expanded to 24.2%.

Profit after tax for the quarter increased by 12.0% to ₹624 crore.

For the nine-month period ended December 2025, consolidated net sales stood at ₹10,982 crore, up 10.2% year-on-year. EBITDA grew by 12.9% to ₹2,686 crore, with margins improving to 24.5%. Profit after tax rose by 13.1% to ₹1,887 crore.

Gross margins at the consolidated level improved by 222 basis points during the quarter, driven by favorable input cost trends.

Business Segment Performance (Standalone)

Consumer & Bazaar (C&B):
The Consumer & Bazaar segment delivered strong performance, with revenue growing by 12.4% to ₹2,802 crore during Q3 FY26, supported by an underlying volume growth of 9.7%. Segment EBIT increased by 14.4% to ₹873 crore, with EBIT margin expanding to 31.2%.

For the nine months ended December 2025, C&B segment revenue grew by 11.1% to ₹8,276 crore, while EBIT rose by 13.5% to ₹2,597 crore, reflecting continued strength in brand-led demand and premium product mix.

Business-to-Business (B2B):
The B2B segment reported revenue of ₹667 crore for the quarter, growing by 2.9% year-on-year, with underlying volume growth of 7.4%. Performance was partially impacted by lower exports of industrial products. EBIT for the quarter stood at ₹116 crore.

For the nine-month period, B2B revenue increased by 7.7% to ₹2,048 crore, indicating gradual recovery in industrial demand.

Outlook

Pidilite continues to focus on driving profitable growth through innovation, brand investments, and operational efficiencies, while maintaining a strong balance sheet. The company remains well-positioned to capitalize on improving demand trends across consumer and construction-related segments.