Q3 2025 Pidilite Industries Ltd Earnings Call Transcript
Key Points
- Pidilite Industries Ltd (BOM:500331) reported an underlying volume growth of 9.7% across categories and geographies, translating into a revenue growth of 9.3%.
- The B2B segment maintained strong growth momentum with an underlying volume growth of 21.7%.
- Gross margins improved by 100 basis points year-on-year due to benign input prices.
- Domestic subsidiaries reported double-digit revenue growth with improved EBITDA margins.
- The company continues to invest in brand building, facility upgrades, and distribution network expansion, contributing to overall revenue growth.
- There is a noticeable strain in demand in both urban and rural areas, affecting core categories like adhesives and construction chemicals.
- EBITDA margins decreased slightly to 24.3% from 25.1% in the same quarter last year.
- International subsidiaries reported only modest sales growth due to global economic uncertainty and political instability.
- The Consumer and Bazaar segment showed single-digit growth, indicating a slowdown in demand.
- The company faces potential medium-term headwinds from a depreciating rupee and fluctuating crude prices.
Ladies and gentlemen, good day, and welcome to the Pidilite Industries Q3 FY25 earnings conference call hosted by PL Capital. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Amnish Aggarwal from PL Capital. Thank you, and over to you, sir.
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Yes. Hi, everyone. On behalf of PL Capital, I welcome you all to Pidilite Industries 3Q conference call. We have with us the senior management of Pidilite represented by Mr. Bharat Puri, who is our Managing Director; Mr. Sudhanshu Vats, who is the Managing Director designate; Mr. Kavinder Singh, who is the Joint Managing Director designate; and Mr. Sandeep Batra, who is the Executive Director of Finance and Chief Financial Officer; and Mr. Dharmendra Lodha, who is Senior Vice President, Finance. So without taking much time, I hand over the dais to the management to take the proceedings forward.
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