EL7.AI
StocksMedium•28 October 2026•
3 min read

Pidilite Posts Consolidated Profit of 626.46 Crore Rupees as Margin Falls to 20.5%

Key Facts

1Consolidated profit after tax was 626.46 crore rupees, compared with 684.60 crore rupees a year earlier.
2Consolidated net sales rose to 4,285 crore rupees from 3,537 crore rupees.
3The margin on earnings before interest, tax, depreciation and amortisation fell to 20.5% from 24.0%.
4Underlying sales volumes grew 10.7% overall, 11.1% in consumer and retail, and 9.2% in business-to-business.
5The stock fell 4.17% to 1,389.60 rupees at the close of trading on October 28, 2026.

Pidilite Industries announced on October 28 its unaudited results for the quarter and half-year ended September 30, 2026, following approval by its board, reporting consolidated profit after tax of 626.46 crore rupees. The figure was below 684.60 crore rupees in the same quarter a year earlier, according to the company’s financial results. Profit attributable to the company’s shareholders was 614.53 crore rupees, while the share attributable to minority interests was 11.93 crore rupees. Meanwhile, consolidated net sales rose to 4,285 crore rupees from 3,537 crore rupees a year earlier. The results highlight a widening gap between sales growth and falling profit, as management said higher materials costs pressured margins.

Earnings before interest, tax, depreciation and amortisation stood at 878 crore rupees for the quarter, compared with 851 crore rupees a year earlier, an increase of 3.1%, according to the company’s statement. But the metric’s margin fell to 20.5% from 24.0% in the year-earlier period. The margin contraction coincided with revenue growth and reflected the impact of materials cost inflation cited by management. The company said the period was marked by extremely high materials inflation and unprecedented volatility and uncertainty. That did not prevent expansion in its main segments: consumer and retail revenue rose 20.7%, while business-to-business revenue increased 21.8%.

Pidilite said underlying sales volume growth was 10.7% overall during the quarter. In consumer and retail, volume rose 11.1%, while the business-to-business segment recorded growth of 9.2%. Volume growth in both segments accompanied higher revenue, pointing to broader activity across the company’s channels during the period. Revenue growth exceeded 20%, according to Managing Director Sudhanshu Vats, despite materials cost inflation. Vats said the company would continue investing in its brands, innovation and distribution, which he identified as priorities for its continued business.

The management statement said the company was confident of sustaining the momentum of the first half in the second half of the year. It linked this outlook to business performance in the first half, while acknowledging that materials inflation and related volatility had affected the operating environment. The message puts volume and revenue growth alongside the margin decline at the center of scrutiny over the next two quarters, without changing the figures reported for the period ended in September. Pidilite shares closed down 4.17% in trading on October 28 at 1,389.60 rupees, according to NDTV Profit. The second-quarter results call was scheduled for October 29, 2026, at 3:30 p.m. India time.