Q3 2026 Pidilite Industries Ltd Earnings Call Transcript
Key Points
- Pidilite Industries Ltd (BOM:500331) reported a nominal revenue growth of 11% for Q3 FY26, with underlying volume growth at 9.3%.
- The Consumer and Bazaar business saw a strong underlying volume growth of 9.7%, while the B2B business grew by 7.4%.
- Domestic business reported an underlying volume growth of 11%, indicating strong performance in the local market.
- Gross margins improved by 200 basis points due to benign input prices, contributing to a 12.5% growth in profit after tax.
- International subsidiaries reported a 6% growth in top line and a 19% increase in EBITDA, showcasing strong international performance.
- Exports declined by 13.5% due to geopolitical challenges, impacting overall volume growth.
- A one-time provision of INR47 crores was taken due to the new wage code, affecting financial results.
- Despite increased advertising and sales promotion spending, the overall EBITDA margin improvement was limited to 24 basis points.
- The domestic subsidiaries reported a marginal decline in EBITDA, indicating challenges in local operations.
- The geopolitical uncertainty, including conflicts in Russia-Ukraine and the Middle East, continues to pose risks to export performance.
Ladies and gentlemen, good day, and welcome to Pidilite Industries Limited Q3 FY26 earnings conference call hosted by ICICI Securities Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Arun Baid from ICICI Securities. Thank you, and over to you, sir.
Thank you, Mark. Good afternoon, ladies and gentlemen. On behalf of ICICI Securities, I welcome you all to the Q3 FY26 post-results concall.
From the management side, we have Mr. Sudhanshu Vats, Managing Director; Mr. Kavinder Singh, JMD; Mr. Sandeep Batra, ED and CFO; and Mr. (inaudible) Senior Vice President.
Now, I hand over the call and opening remarks post which the floor will be open for Q&A. Over to you, sir.
Thank you. Thank you, Arun, and very good afternoon to all who have joined the call today. I will keep my opening
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