The company released its quarterly earnings reports on Tuesday in which it reported an 8.54 percent QoQ increase in revenue and a 4.33 percent decrease in profit for Q3FY22. Pidilite also reported an over 14 percent decrease in EBITDA.
Indian adhesive manufacturing giant Pidilite Industries on Tuesday reported a revenue of Rs 2,850.7 crore for the quarter ended December 31, 2021. This was largely in line with estimates and came on the back of a strong showing in its consumer and bazaar (adhesives, art and craft materials, etc) and B2B (industrial products) segments. This was an 8.54 percent increase quarter-on-quarter, the company said in its quarterly earnings report. The revenue also increased 24 percent year-on-year from Rs 2,299 crore at the end of Q3FY21.
The company also reported a net profit of Rs 359.2 crore as against estimates of Rs 402 crore. This was also a 4.34 percent QoQ decrease from Rs 375.5 crore, according to the report, and a 19.5 percent YoY decrease from Rs 446.4 crore reported in the corresponding quarter the previous fiscal.
According to the report, the company's earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at Rs 549.1 crore for the latest quarter, which lower than what analysts polled by CNBC-TV18 expected--Rs 590 crore. The EDITDA fell 14.3 percent YoY, while the margin stood at 19.3 percent, down from 27.9 YoY.
The company reported earrings per share of Rs 6.35 crore (basic) and Rs 6.34 crore (diluted), a slight decrease from Rs 6.68 crore and Rd 6.67 crore, respectively. As per the report, the company's paid-up equity share capital, at a face value of Re 1 per share, was at Rs Rs 50.82 crore, unchanged from Q2FY22.
The company's C&B segment earned Rs 1,925.1 crore in the latest quarter, up 6.8 percent QoQ, while its B2B segment reported a revenue of 511.74, an increase of 16.45 percent QoQ.
Further, the company reported investments in mutual funds/alternate investment funds, bonds, preference shares, term deposits with banks, at al, at Rs 201.98 crore.
(Edited by : Vijay Anand)
First Published: IST