By: ICN Bureau
Last updated : January 29, 2021 11:26 am
Net sales at Rs. 2,290 crore grew by 20% (excluding PAPL 16%) over the same quarter last year.
Pidilite Industries Limited, India’s leading manufacturer of adhesives, sealants and construction chemicals, has reported net sales growth of 20% and EBITDA growth of 38%.
The Consumer and Bazaar (C&B) segment registered volume and value growth in excess of 20% during this quarter. Robust growth was registered across all verticals driven by continued demand momentum in rural areas and strong recovery in urban including metros. Overseas subsidiaries have also performed strongly, reporting double-digit constant currency revenue growth as well as strong earnings growth.
While Domestic Subsidiaries in the C&B segment have shown healthy growth, subsidiaries in the B2B segment have shown signs of recovery in the later part of the quarter.
Net sales at Rs. 2,290 crore grew by 20% (excluding PAPL 16%) over the same quarter last year. Net sales for the nine months ended stood at Rs. 5,021 crore and declined by 12% over the same period last year.
EBITDA before non-operating income at Rs. 641 crore grew by 38% over the same quarter last year on account of lower input cost and A&SP spends. EBITDA for the nine months ended stood at Rs 1,223 crore and declined by 4% over the same period last year.
Profit before Tax and Exceptional items (PBT) at Rs. 601 crore grew by 32% over the same quarter last year. PBT for the nine months ended stood at Rs. 1,111 crore and declined by 12% over the same period last year. Profit after tax (PAT) at Rs. 446 crore grew by 29% over the same quarter last year.
Commenting on Q3 FY 2020-21 performance, Bharat Puri, Managing Director, Pidilite Industries said, “This quarter witnessed broad based growth across all businesses and geographies. While the consumer and bazaar businesses grew volumes in excess of twenty percent, the B2B segment also returned to double digit growth. Profitability was higher due to benefits of input costs and lower discretionary spends. However, with significant inflation in input costs, margins will be under pressure in the coming quarters. Our focus will be on driving volume growth through investment in our brands, sales and distribution as well as consumer relevant innovation. Going forward we remain cautiously optimistic on continuing robust demand conditions.”