Revenue from operations increased 4.6% YoY to Rs 3129.99 crore in Q3 FY24.
The current quarter`s revenue growth was aided by robust UVG of 10.4% across categories and geographies. This growth was broad based across consumer and bazaar (C&B) and business to business (B2B) segments with both segments reporting double digit UVG. Both urban and rural markets grew with rural and small town markets outpacing urban growth. Export demand remained strong with double digit UVG.
Standalone revenue for the quarter grew by 5% led by strong UVG across categories and geographies. C&B segment grew by 5.5% and B2B grew by 4.6%
EBITDA before non-operating income at Rs 708 Cr grew by 51% over the same quarter last year. EBITDA Margins improved by 776 bps over Q3 FY23 and by 188 bps over Q2 FY24.
Bharat Puri, managing director, Pidilite Industries, said, “At Pidilite, we delivered another quarter of robust Underlying Volume Growth (‘UVG’) along with substantially improved profitability. Continued moderation in input costs resulted in good improvements in Gross Margins, enabling us to invest behind our brands as well as other growth initiatives. Our growth remained broad based across categories and geographies.
We continue to remain optimistic about market demand in the near term, with increased government spending and the overall improvement in construction activities. We remain committed to deliver volume led profitable growth via investment in our brands, supply chain, digital infrastructure, innovation and customer facing initiatives.”
Pidilite Industries is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products and polymer emulsions in India.