Revenue from operations for the third quarter stood at Rs 3,368.91 crore, up about 8% from Rs 3129.99 crore in the same period year ago.
“Despite subdued demand across urban and rural geographies, we continued to make steady progress, with robust revenue and underlying volume growth and healthy levels of profitability,” said Bharat Puri, Managing Director, Pidilite.
“Looking ahead, we remain cautiously optimistic on improved demand conditions as a result of the good monsoon and increased construction activities. We remain committed to our strategic agenda of delivering consistent, profitable volume-led growth through investment in our brands, supply chain and people,” Puri said in a press statement.
Gross margins improved by 100 bps year on year, mainly due to benign input prices, the company said in a statement. EBITDA margins were 24.3% as compared to 25.1% in Q3 FY24.
Net sales grew 9% to Rs 3,357 crore (excluding Pidilite USA and Pulvitec Brazil) over the same quarter last year. Net sales for the nine months stood at Rs 9,964 crore, up by 7% (excluding Pidilite USA and Pulvitec Brazil) over the same period last year.EBITDA before non-operating income stood at Rs 798 crore, up 8% over the same quarter last year. EBITDA for the nine months stood at Rs 2,380 crore, up 12% over the same period last year.The current quarter’s revenue growth was aided by underlying volume growth of 9.7% across categories and geographies. Consumer and Bazaar (‘C&B’) UVG was 7.3%, while Business to Business (‘B2B’) maintained growth momentum with UVG of 21.7%.
The company’s stock closed almost unchanged at Rs 2,754.20 on Wednesday.
