Mumbai, January 26, 2022: Pidilite Industries Limited, India’s leading manufacturer of adhesives, sealants and construction chemicals today announced its financial results for the quarter and nine month sended December 31, 2021.
Robust double digit revenue growth in this quarter was led by staggered pricing actions and steady demand conditions.
Growth was broad based across Consumer and Bazaar (‘C&B’) and Business to Business (‘B2B’) with growth in urban geographies outpacing rural geographies. C&B reported growth across all categories and B2B growth led by continued momentum in industrial activities.
Gross Margins continues to get impacted on account of unabated increase in input cost. We continued investments in our brands and have maintained EBITDA margins within our historic range through judicious pricing, rising volumes, and operational efficiencies.
Domestic subsidiaries in C&B reported good sales growth. Performance of domestic subsidiaries in B2B have improved sequentially on account of recovery in real estate and construction related activities.
FINANCIAL PERFORMANCE
Consolidated Performance
Standalone Performance
Q3 2021-22:
Commenting on the quarter performance, Mr. Bharat Puri, Managing Director, Pidilite Industries Ltd, said:
“This quarter registered strong broad-based volume and value growth across categories and businesses. Continued, unprecedented inflation in input costs necessitated calibrated pricing actions as well as the need to manage costs aggressively to maintain margins in a healthy range. Going forward, we expect near-term demand conditions to be a little more challenged, given the disruptions as a result of the pandemic as well as input inflation to continue. However, we see demand conditions improving as well as input costs moderating by the end of the current quarter/beginning of the new financial year. We remain confident of the medium to long-term potential of the Indian home improvement sector and in our ability to deliver profitable volumegrowth.”
Corporate Comm India (CCI Newswire)
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