Pidilite Industries Limited — Q2FY27 earnings call summary

Filed 05 November 2026 · Official transcript

Q2 FY27 standalone revenue nearly INR 4,000 Cr, +21.7% nominal, volume growth 10.7%
No plans for backward integration of VAM; sourcing strategy focused on scale and cost efficiency
Gross margin declined due to elevated input costs; EBITDA margin at 20.4%, down 430 bps q-o-q
Pricing actions taken: 12-15% hikes in Q1, additional 3-5% hike in October; confident of H2 EBITDA margin at higher end of 20-24% corridor
Urban growth picking up, slightly ahead of rural in Q2; construction chemicals and projects business showing strong momentum
Sustained double-digit underlying volume growth for 6-8 quarters; broad-based growth across Consumer & Bazaar and B2B segments
Management confident of continuing double-digit volume growth and profitable growth despite macro uncertainties
International subsidiaries grew 21.8% with 53% EBITDA growth; domestic subsidiaries grew 22.2%