Pidilite Industries reports 5% increase in Q2FY21-22 profit at Rs 376cr

Pidilite Industries has reported a 5% year-over-year (YoY) increase in its profit after tax at INR 376 crores for the second quarter of the fiscal year 2021-22 (Q2FY21-22).

The India-based adhesives, sealants, and construction chemicals manufacturer posted a profit after tax of INR 593 crores for the half year ended 30 September 2021, a 59% increase compared to the same period last year.

Net sales for Pidilite Industries in the reported quarter stood at INR 2,613 crores, a 41% YoY increase. On the other hand, its net sales for the half year ended 30 September 2021 were INR 4,541 crores, a YoY growth of 66%.

According to the Fevicol brand owner, the second quarter was very successful in terms of growth in sales and value.

The company is said to have seen a significantly improved consumer demand thanks to the speedy vaccination process as well as a decrease in Covid-19 cases, and greater mobility.

The growth was wide-ranging across Consumer and Bazaar (C&B) and Business to Business (B2B) segments, and also in the rural and urban areas, said the company.

Pidilite Industries revealed that the C&B unit saw growth across all categories like construction chemicals, adhesives, as well as the DIY portfolio.

B2B growth, on the other hand, was driven by the continued momentum in industrial activities, said Pidilite Industries.

Bharat Puri — Managing Director of Pidilite Industries said: “This quarter, we have delivered very strong value and volume growth across categories, businesses, and geographies. Overall, we witnessed significant improvement in demand conditions across categories and geographies.

“However unprecedented increases and volatility in input costs has been a major challenge. In this environment, moderated price increases as well as a sharp focus on operational efficiencies have helped us navigate the uncertain environment.

“Going forward we remain cautiously optimistic on continuing robust demand conditions. Unabated commodity inflation and supply availability remains a significant challenge and would require continued focus. Our focus remains on driving consistent, profitable volume growth through investment in our brands, supply chain and people.”