Pidilite Industries Ltd. — Interim / Quarterly Report 2021

Aug 11, 2021

1'1th August, 2021

The Secretary BSE Ltd. Corporate RelationshiP DePt., 14tn floor, P. J. Tower, Dalal Street, Fort Mumbai - 400 001 Stock Code - ⁵⁰⁰³³¹

The Secretary National Stock Exchange of lndia Ltd. Exchange Plaza, Plot no. C/1 , G Block, Bandra-Kurla ComPlex, Bandra (E), Mumbai - 400 051 Stock Code - PIDILITIND

Dear Sir,

sub: unaudited Financial Results (standalone and consolidated) for the Quarter ended 30'h J une, 2021

Pursuant lo Regulation 33 of the securities and Exchange Board of lndia (Listing obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), we are enclosing the unaudited Financial Results (standalone and consolidaled) of the company for the quarter ended 30rh June,2021, duly approved by the Board of Directors of the Company' at its meeting held today. The meeting of the Board of Directors of the company commenced at 11.00 a.m. and concluded at 01:15 P,m.

WealsoencloseacopyoftheLimitedReviewReportoftheAuditorsoftheCompany,aS required under Regulation 33 of the Listing Regulations

Kindly acknowledge receiPt.

Thanking you,

Yours faithfully, For Pidilite lndustries Limited

Company Secretary

Encl: As above

Pldllite lndustries Llmlted

Corporate Offlce Ramkrishna Mandir Road Andheri - E, Mumbai 400059, lndia

f ⁺91 22 2835 7 OOO 2a357952 / 2A357365 F + 9t 22 2430 4442 www.pidilite.com CIN:L24lOON4H1969PLC014336

Regd. Oflice

Regent Chambers, 7th Floor Jamnalal Bajaj Marg 208 Nariman Point N,lrrmbai 400 O2l

Chartered Accountants One International Center Tower 3, 27th -32nd Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Maharashtra, India

Tele: + 91 22 6185 4000 Fax: +91 22 6185 4001

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF PIDILITE INDUSTRIES LIMITED

• 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of PIDILITE INDUSTRIES LIMITED ("the Company"), for the quarter ended 30th June, 2021 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018)

N. K. Jain (Partner) (Membership No. 045474) UDIN: 21045474AAAAET9053

Place: MUMBAI Date: 11th August, 2021

PIDILITE INDUSTRIES LIMITED

Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalal Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 Email address : investor.relations@pidilite.co.in Website : www.pidilite.com CIN : L24100MH1969PLC014336

STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2021

Rs Crores

Sr. No.	Particulars	For the Quarter ended			For the Year ended
		30.06.2021	31.03.2021	30.06.2020	31.03.2021
		Unaudited	Unaudited	Unaudited	Audited
1	Total Income
	a) Revenue from Operations	1626.06	1857.01	772.39	6216.33
	b) Other Income	102.04	11.86	19.66	73.49
	Total Income	1728.10	1868.87	792.05	6,289.82
2	Expenses
	a) Cost of materials consumed	755.90	875.05	204.15	2469.53
	b) Purchases of stock-in-trade	116.97	163.27	28.91	453.99
	c) Changes in inventories of finished goods, work-in-progress
	and stock-in-trade	(47.23)	(143.96)	118.33	(89.77)
	d) Employee benefits expense	229.34	215.68	171.71	787.75
	e) Finance costs	6.25	4.39	3.35	16.99
	f) Depreciation, amortisation and impairment expense	40.45	39.32	34.79	147.10
	g) Other expenses	271.59	339.25	153.88	1047.15
	Total Expenses	1373.27	1493.00	715.12	4832.74
3	Profit before exceptional items and tax (1-2)	354.83	375.87	76.93	1,457.08
4	Exceptional items	-	-	-	0.45
5	Profit before tax (3-4)	354.83	375.87	76.93	1,456.63
6	Tax Expense
	Current tax	69.14	96.80	21.00	375.05
	Deferred tax	(2.84)	2.55	(0.79)	0.12
7	Profit for the period (5-6)	288.53	276.52	56.72	1,081.46
8	Other Comprehensive Income
	Items that will not be reclassified to profit or loss	(1.66)	(4.69)	(3.72)	(0.95)
	Income tax relating to items that will not be reclassified to profit or loss	0.42	1.18	0.94	0.24
9	Total Comprehensive Income for the period (7+8)	287.29	273.01	53.94	1,080.75
10	Paid-up Equity Share Capital (Face value of share : Re. 1/-)	50.82	50.82	50.81	50.82
11	Other Equity				5,510.40
12	Earnings per equity share in Rs.
	a) Basic	@ 5.68	@ 5.44	@ 1.12	21.28
	b) Diluted	@ 5.67	@ 5.44	@ 1.12	21.27

@ For the period only and not annualised.

See accompanying Notes to Financial Results

STANDALONE SEGMENT INFORMATION FOR THE QUARTER ENDED 30.06.2021

Rs Crores

Sr.	Particulars		For the Quarter ended
No.		30.06.2021	31.03.2021	30.06.2020	31.03.2021
		Unaudited	Unaudited	Unaudited	Audited
1	Segment Revenue
	a) Consumer & Bazaar Products	1252.24	1450.97	614.45	4998.16
	b) Business to Business	396.13	420.73	168.33	1282.73
	c) Others	9.89	17.40	1.81	38.53
	Total	1658.26	1889.10	784.59	6319.42
	Less : Inter Segment Revenue	32.20	32.09	12.20	103.09
	Revenue from Operations	1626.06	1857.01	772.39	6216.33
2	Segment Results
	a) Consumer & Bazaar Products	329.46	429.46	147.04	1658.63
	b) Business to Business	54.09	60.61	5.53	167.58
	c) Others	0.60	1.41	(3.50)	(1.84)
	Total	384.15	491.48	149.07	1824.37
	Less : i) Finance Costs	6.25	4.39	3.35	16.99
	ii) Other Unallocable Expenditure net of
	Unallocable Income	23.07	111.22	68.79	350.30
	Total Profit Before Exceptional Item and Tax	354.83	375.87	76.93	1457.08
	Exceptional Items	-	-	-	0.45
	Total Profit Before Tax	354.83	375.87	76.93	1456.63
3	Segment Assets
	a) Consumer & Bazaar Products	3047.70	2724.66	2227.90	2724.66
	b) Business to Business	1066.49	979.15	734.66	979.15
	c) Others	27.06	20.53	71.61	20.53
	d) Unallocated	3842.41	3899.07	2545.52	3899.07
	Total Segment Assets	7983.66	7623.41	5579.69	7623.41
4	Segment Liabilities
	a) Consumer & Bazaar Products	974.23	1208.22	672.55	1208.22
	b) Business to Business c) Others	381.72 1.78	395.70 1.74	214.17 3.57	395.70 1.74
	d) Unallocated	769.12	456.53	168.86	456.53
	Total Segment Liabilities	2126.85	2062.19	1059.15	2062.19

C&B segment covers sale of products mainly to end consumers which are retail users such as carpenters, painters, plumbers, mechanics, households, students, offices, etc. Sale consists of mainly Adhesives, Sealants, Art and craft Materials and Construction and paint Chemicals. B2B covers sale of products to end customers which are mainly large business users. This includes Industrial Products (IP) such as adhesives, synthetic resins, organic pigments, pigment preparations, construction chemicals (projects), surfactants, etc. Others mainly includes sale of raw materials.

Unallocated Segment Assets as at 30th June 2021 include the following:-

a) Investments in units of mutual funds/alternate investment funds, bonds, preference shares, term deposits with banks, etc Rs. 209.24 Crores (31st March 2021 Rs. 334.51 Crores, 30th June 2020 Rs. 1235.03 Crores).

---- 2 ----

Notes to the Standalone Financial Results:

1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 11th August 2021.

2. The Statutory auditors have carried out a " Limited Review" of the above financial results for the quarter ended 30th June 2021 and have issued an unmodified opinion.

3. 1. The financial results of the Company have been prepared in accordance with Indian Accounting Standards ("Ind AS") notified under Section 133 of the Companies Act, 2013 ('Act') read with Companies (Indian Accounting Standards) Rules, 2015, as amended.
4. 1. Exceptional items represents diminution / impairment in value of investment in a subsidiary of Rs.0.45 Crores for year ended 31st March 2021.
5. 1. Other Income includes dividend received from a subsidiary amounting to Rs.96.20 Crores for quarter ended 30th June 2021.
6. 1. The COVID 19 second wave and consequent lockdown has impacted the regular business operations. The results for the quarter are therefore not comparable with those for the previous quarter.The Company has assessed the impact of pandemic on its financial results/position based on the internal and external information available up to the date of approval of these financial results and expects to recover the carrying value of its assets. The Company continues to monitor the economic effects of the pandemic while taking steps to improve its execution efficiencies and the financial outcome.
7. 1. The figures for the quarter ended 31st March 2021 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the relevant financial year.
8. 1. Previous periods' figures are regrouped to make them comparable with those of current period, wherever applicable.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

Mumbai BHARAT PURI Dated : 11th August 2021 Managing Director

DIN: 02173566

Chartered Accountants One International Center Tower 3, 27th -32nd Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Maharashtra, India

Tele: + 91 22 6185 4000 Fax: +91 22 6185 4001

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF PIDILITE INDUSTRIES LIMITED

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of PIDILITE INDUSTRIES LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net profit after tax and total comprehensive income of its associates and joint venture for the quarter ended 30th June, 2021 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

Sr.	No Name of the Entity	Relationship
	1 Pidilite Industries Limited	Parent
	2 Fevicol Company Limited	Subsidiary
	3 Bhimad Commercial Company Private Limited	Subsidiary
4	Madhumala Ventures Private Limited (formerly Madhumala Traders Private Limited)	Subsidiary
	5 Pagel Concrete Technologies Private Limited	Subsidiary
	6 Building Envelope Systems India Limited	Subsidiary
	7 Hybrid Coatings	Subsidiary
	8 Pidilite Middle East Limited	Subsidiary

1. The Statement includes the results of the following entities:

	9 Pulvitec do Brasil Industria e Comercio de Colas e Adesivos Ltda.	Subsidiary
	10 Pidilite USA Inc	Subsidiary
	11 Pidilite MEA Chemicals L.L.C	Subsidiary
	12 Pidilite International Pte. Ltd.	Subsidiary
	13 PT Pidilite Indonesia	Subsidiary
	14 Pidilite Speciality Chemicals Bangladesh Private Ltd.	Subsidiary
	15 Pidilite Innovation Centre Pte. Ltd.	Subsidiary
	16 Pidilite Industries Egypt (S.A.E.)	Subsidiary
	17 Pidilite Bamco Ltd	Subsidiary
	18 Pidilite Chemical PLC	Subsidiary
	19 PIL Trading (Egypt) Company	Subsidiary
	20 Pidilite Industries Trading (Shanghai) Co. Ltd.	Subsidiary
	21 Bamco Supply and Services Limited	Subsidiary
	22 Nina Percept Private Limited (Formerly Nina Waterproofing Systems Private Limited)	Subsidiary
	23 Pidilite Lanka (Private) Limited	Subsidiary
	24 ICA Pidilite Private Limited	Subsidiary
	25 Nebula East Africa Private Limited	Subsidiary
	26 Nina Lanka Construction Technologies Private Limited	Subsidiary
	27 Cipy Polyurethanes Private Limited	Subsidiary
	28 Pidilite Ventures LLC	Subsidiary
	29 Pidilite East Africa Limited	Subsidiary
	30 Pidilite Grupo Puma Private Limited	Subsidiary
	31 Pidilite C-Techos Private Limited	Subsidiary
	32 Pidilite Litokol Private Limited	Subsidiary
	33 Pidilite Grupo Puma Manufacturing Limited	Subsidiary
	34 Nina Percept (Bangladesh) Private Limited	Subsidiary
	35 Pidilite C-Techos Walling Limited	Subsidiary
	36 Tenax Pidilite India Private Limited (Formerly known as Tenax India Stone Products Private Limited) (with effect from 29th May, 2020)	Subsidiary
37	Pidilite Adhesives Private Limited (Formerly Huntsman Advanced Materials Solutions Private Limited) (with effect from 4th November, 2020)	Subsidiary
	38 Plus Call Technical Services LLC.	Joint Venture
	39 Vinyl Chemicals (India) Limited.	Associate
	40 Aapkapainter Solutions Private Limited (with effect from 3rd November, 2020)	Associate

• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review the interim financial information of 5 subsidiaries included in the consolidated unaudited financial results, whose interim financial information reflect total revenues of Rs. 186 crores for the quarter ended 30th June, 2021, total net profit after

tax of Rs. 18.79 crores for the quarter ended 30th June, 2021 and total comprehensive income of Rs. 1.51 crores for the quarter ended 30th June, 2021 as considered in the Statement. The consolidated unaudited financial results also includes the Group's share of profit after tax of Rs. 2.55 crores for the quarter ended 30th June, 2021 and total comprehensive income of Rs. 2.55 crores for the quarter ended 30th June, 2021, as considered in the Statement, in respect of an associate, whose interim financial results have not been reviewed by us. These interim financial information / financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and an associate, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of these matters.

1. The consolidated unaudited financial results includes the interim financial information of 30 subsidiaries which have not been reviewed/audited by their auditors, whose interim financial information reflect total revenue of Rs. 127.14 crores for the quarter ended 30th June, 2021, total profit after tax of Rs. 10.45 crores for the quarter ended 30th June, 2021 and total comprehensive income of Rs. 7.68 crores for the quarter ended 30th June, 2021 as considered in the Statement. The consolidated unaudited financial results also includes the Group's share of loss after tax of Rs. 0.28 crores for the quarter ended 30th June, 2021 and total comprehensive loss Rs. 0.28 crores for the quarter ended 30th June, 2021, as considered in the Statement, in respect of an associate and joint venture, based on their interim financial information which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group.

Our Conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Management.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W / W-100018)

N. K. Jain Partner (Membership No. 045474) UDIN: 21045474AAAAEU9270

Place: MUMBAI Date: 11th August, 2021

PIDILITE INDUSTRIES LIMITED

REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalal Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : investor.relations@pidilite.co.in Website : www.pidilite.com CIN : L24100MH1969PLC014336

STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2021

					Rs Crores
Sr. No.	Particulars	For the Quarter ended	For the Year ended
		30.06.2021	31.03.2021	30.06.2020	31.03.2021
		Unaudited	Unaudited	Unaudited	Audited
1	Total Income
	a) Revenue from Operations	1936.79	2235.52	877.84	7292.71
	b) Other Income	6.12	17.33	20.00	79.40
	Total Income	1942.91	2252.85	897.84	7372.11
	2 Expenses
	a) Cost of materials consumed	911.18	1086.50	242.15	3017.82
	b) Purchases of stock-in-trade	139.50	181.31	42.27	477.17
	c) Changes in inventories of finished goods, work-in-progress	(64.97)	(168.17)	124.06	(118.32)
	and stock-in-trade
	d) Employee benefits expense	280.60	262.71	215.70	980.86
	e) Finance costs	9.62	7.44	9.07	37.23
	f) Depreciation, amortisation and impairment expense	56.63	57.19	46.10	200.66
	g) Other expenses	322.89	412.38	187.29	1254.56
	Total Expenses	1655.45	1839.36	866.64	5849.98
3	Profit before Exceptional Items, Share of profit of Associate and Joint
	venture and Tax (1-2)	287.46	413.49	31.20	1522.13
	4 Share of profit of associates (net of tax)	2.28	1.32	0.47	3.98
	5 Share of profit of joint venture (net of tax)	-	-	-	-
6	Profit before Exceptional Items and Tax (3+4+5)	289.74	414.81	31.67	1526.11
	7 Exceptional items	-	3.62	-	3.62
8	Profit before tax (6-7)	289.74	411.19	31.67	1522.49
9	Tax Expense
	Current tax	76.87	104.03	21.71	399.88
	Deferred tax	(4.77)	(0.28)	(5.86)	(3.52)
10	Profit for the period (8-9)	217.64	307.44	15.82	1126.13
	Attributable to:
	Shareholders of the Company	220.07	306.19	26.78	1131.21
	Non Controlling Interest	(2.43)	1.25	(10.96)	(5.08)
11	Other Comprehensive Income
	Items that will not be reclassified to profit or loss	(1.62)	(4.83)	(3.67)	(0.99)
	Income tax relating to items that will not be reclassified to profit or loss	0.41	1.25	0.92	0.28
	Items that will be reclassified to profit or loss	6.76	(3.85)	0.24	(10.15)
	Total Other Comprehensive Income	5.55	(7.43)	(2.51)	(10.86)
	Attributable to:
	Shareholders of the Company	5.66	(7.55)	(2.66)	(11.22)
	Non Controlling Interest	(0.11)	0.12	0.15	0.36
12	Total Comprehensive Income for the period (10+11)	223.19	300.01	13.31	1115.27
	Attributable to:
	Shareholders of the Company	225.73	298.64	24.12	1,119.99
	Non Controlling Interest	(2.54)	1.37	(10.81)	(4.72)
13	Paid-up Equity Share Capital (Face value of share : Re. 1/-)	50.82	50.82	50.81	50.82
14	Other Equity				5542.14
15	Earnings per equity share in Rs.
	a) Basic	@ 4.33	@ 6.03	@ 0.53	22.26
	b) Diluted	@ 4.33	@ 6.02	@ 0.53	22.24

@ For the period only and not annualised. See accompanying Notes to Financial Results

CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER ENDED 30.06.2021

	Rs Crores
Sr.	Particulars	For the Quarter ended	For the Year ended
No.		30.06.2021	31.03.2021	30.06.2020	31.03.2021
		Unaudited	Unaudited	Unaudited	Audited
1	Segment Revenue
	a) Consumer & Bazaar	1486.24	1730.27	702.02	5808.88
	b) Business to Business	482.02	535.01	188.23	1575.40
	c) Others	9.89	17.39	1.81	38.53
	Total	1978.15	2282.67	892.06	7422.81
	Less : Inter Segment Revenue	41.36	47.15	14.22	130.10
	Revenue from Operations	1936.79	2235.52	877.84	7292.71
2	Segment Results
	a) Consumer & Bazaar	370.44	469.22	132.02	1773.63
	b) Business to Business	42.01	52.41	(22.66)	118.13
	c) Others	0.60	1.40	(3.50)	(1.84)
	Total	413.05	523.03	105.86	1889.92
	Less : i) Finance Costs	9.62	7.44	9.07	37.23
	ii) Other Unallocable Expenditure net of
	Unallocable Income	115.97	102.10	65.59	330.56
	Add: Share of profit of associates/joint venture	2.28	1.32	0.47	3.98
	Total Profit Before Exceptional Item and Tax	289.74	414.81	31.67	1526.11
	Exceptional Items	-	3.62	-	3.62
	Profit before tax	289.74	411.19	31.67	1522.49
3	Segment Assets
	a) Consumer & Bazaar	6596.68	6353.49	3107.78	6353.49
	b) Business to Business	1633.37	1565.54	1287.06	1565.54
	c) Others	27.06	20.53	71.61	20.53
	d) Unallocated	791.99	890.86	1775.83	890.86
	Total Segment Assets	9049.10	8830.42	6242.28	8830.42
4	Segment Liabilities
	a) Consumer & Bazaar	1377.34	1653.18	712.57	1653.18
	b) Business to Business	837.20	837.44	611.12	837.44
	c) Others	1.78	1.74	3.57	1.74
	d) Unallocated	769.11	505.06	217.62	505.06
	Total Segment Liabilities	2985.43	2997.42	1544.88	2997.42

C&B segment covers sale of products mainly to end consumers which are retail users such as carpenters, painters, plumbers, mechanics, households, students, offices, etc. Sale consists of mainly Adhesives, Sealants, Art and craft Materials and Construction and paint Chemicals. B2B covers sale of products to end customers which are mainly large business users. This includes Industrial Products (IP) such as adhesives, synthetic resins, organic pigments, pigment preparations, construction chemicals (projects), surfactants, etc. Others mainly includes sale of raw materials.

Unallocated Segment Assets as at 30th June 2021 include the following:-

a) Investments in units of mutual funds/alternate investment funds, bonds, preference shares, term deposits with banks, etc Rs. 209.24 Crores (31st March 2021 Rs. 334.51 Crores, 30th June 2020 Rs. 1235.03 Crores).

Notes to the Consolidated Financial Results:

• 1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 11th August 2021.
• 1. The above results comprise the results of Pidilite Industries Ltd. (Holding Company), 36 subsidiary companies (including one partnership firms), (Holding Company and it's subsidiaries together referred as "the Group") two Associate Company and one Joint Venture. The Statutory auditors have carried out a " Limited Review" of the above financial results for the quarter ended 30th June 2021 and have issued an unmodified opinion.
• 1. The financial results of the Company have been prepared in accordance with Indian Accounting Standards ("Ind AS") notified under Section 133 of the Companies Act, 2013 ('Act') read with Companies (Indian Accounting Standards) Rules, 2015, as amended.
• 1. Exceptional items represents diminution / impairment in value of investment of Rs.3.62 Crores for quarter and year ended 31st March 2021.
• 1. The COVID 19 second wave and consequent lockdown has impacted the regular business operations. The results for the quarter are therefore not comparable with those for the previous quarter. The Group has assessed the impact of pandemic on its financial results/position based on the internal and external information available up to the date of approval of these financial results and expects to recover the carrying value of its assets. The Group continues to monitor the economic effects of the pandemic while taking steps to improve its execution efficiencies and the financial outcome.
• 1. The figures for the quarter ended 31st March 2021 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the relevant financial year.
• 1. Previous periods' figures are regrouped to make them comparable with those of current period, wherever applicable.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

Dated : 11th August 2021 Managing Director

Mumbai BHARAT PURI DIN: 02173566