Pidilite Industries Ltd. — Interim / Quarterly Report 2023

Aug 11, 2022

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11[th] August, 2022

The Secretary BSE Ltd. Corporate Relationship Dept., 14[th] floor, P. J. Tower, Dalal Street, Fort Mumbai - 400 001 Stock Code – 500331

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

Sub: Investor Update

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Dear Sir,

Please find attached the Investor Update for the quarter ended 30[th] June, 2022 and a presentation.

Thanking You,

Yours faithfully, For Pidilite Industries Limited

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Manisha Shetty Company Secretary

Encl: a/a

Regd. Office Regent Chambers, 7th Floor Jamnalal Bajaj Marg 208 Nariman Point Mumbai 400 021

Pidilite Industries Limited Corporate Office Ramkrishna Mandir Road Andheri - E, Mumbai 400059, India T + 91 22 2835 7000 2835 7952 / 2835 7365 F +91 22 2830 4482 www.pidilite.com ClN:L24100MH1969PLC014336

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Pidilite Industries Limited Investor Update

Quarter ended June 2022

Coverage

Financial Highlights

• Financial Highlights

• Segment wise performance

• Overseas subsidiaries performance

• Domestic subsidiaries performance

• Financial Results

Particulars	Consolidated	Standalone
	Quarter Ended June’22	Quarter Ended June’22
Sales Growth	60.3%	62.5%
PAT Growth	64.3%	60.7%

Investor Communication

This investor update covers the Company’s performance for the quarter ended 30[th] June 2022.

Contact information

Manisha Shetty, Company Secretary E-mail: manisha.shetty@pidilite.com Telephone : 022-2835 7949

Mumbai, August 10, 2022:

The Company reported robust revenue growth, a combination of higher volumes and measured price increases. Consolidated Net Sales crossed a new milestone of Rs 3,000 crores in the current quarter.

Consumer & Bazaar (“C&B”) growth was across all geographies and categories of adhesives, construction chemicals and DIY portfolio. Business to Business (“B2B”) growth was strong across all verticals.

While input costs remained elevated, EBITDA Margins remained constant sequentially on account of calibrated pricing, increased sales and effective cost management actions.

While the near term remains challenging, we remain cautiously optimistic on the medium term given the recent softening of input prices led by lower oil prices, a good monsoon and continued good demand conditions in the housing and home improvement sector. Our focus continues to be to deliver broad based profitable volume growth.

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Financial Highlights

Q1 FY 2022 - 23:

Consolidated Performance as compared to same quarter last year:

• Net sales grew by 60.3%.

• Material cost as a % to net sales is higher by 736 Bps vs same quarter last year and 181 Bps vs sequential quarter.

• EBITDA before non-operating income grew by 52.3%

• Profit before tax and Exceptional Items (PBT) grew by 63.3%.

• Profit after tax (PAT) grew by 64.3%.

Standalone Performance as compared to to same quarter last year:

• Net sales grew by 62.5%, with underlying sales volume & mix growth of 44.3%. This was driven by growth of 49.2% in sales volume & mix of C&B and 28.9% in sales volume & mix of B2B.

• Material cost as a % to net sales is higher by 796 Bps vs same quarter last year and 205 Bps vs sequential quarter.

• EBITDA before non-operating income grew by 50.3%

• Profit before tax and Exceptional Items (PBT) grew by 58.8%.

• Profit after tax (PAT) grew by 60.7%.

Business Segment Wise Performance – Standalone (On a comparable basis)

		Rs Crores	Rs Crores	Rs Crores
Sr.	PARTICULARS	Quarter Ended
No		Jun'22	Jun'21	Growth
1	Segment Sales a) Consumer & Bazaar Products (C&B) b) Business to Business (B2B) c) Others Total Less : Inter Segment Sales	2,192.0 627.8 25.8	1,315.3 417.1 9.9	66.6% 50.5% 160.8%
		2,845.6 67.2	1,742.3 32.2	63.3% 108.7%
	Net Sales	2,778.4	1,710.1	62.5%
2	Segment Results a) Consumer & Bazaar Products (C&B) b) Business to Business (B2B) c) Others Total Segment Results Less : i ) Finance Costs ii) Other unallocable expenditure net of Unallocable income	510.4 74.9 1.4	348.9 55.1 0.6	46.3% 35.9% 136.7%
		586.7	404.6	45.0%
		4.4 139.2	6.3 119.4	-29.8% 16.6%
	Profit before tax	443.1	278.9	58.8%

Q1 FY 2022 - 2023

• Net sales of C&B segment grew by 66.6%. PBIT of C&B segment grew by 46.3%.

• Net sales of B2B segment grew by 50.5%. PBIT of B2B segment grew by 35.9%.

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Overseas subsidiaries performance

• The Company has 20 overseas subsidiaries (6 direct and 14 step-down) and one joint venture, including those having manufacturing and selling operations in USA, Brazil, Thailand, Dubai, Egypt, Sri Lanka, Bangladesh, and Kenya.

• Overseas subsidiaries maintained positive momentum and reported high double-digit constant currency revenue growth largely led by judicious pricing actions.

• The performance of the following geographies in constant currency terms is detailed below. These are like for like actual reported numbers excluding translations and other consolidation impacts.

	Rs Crores	Rs Crores	Rs Crores
Sales	Quarter ended
	June 22	June 21	Growth
Asia	83.8	63.4	32.2%
Middle East and Africa	61.4	49.1	25.0%
Americas	70.9	55.3	28.3%
Total	216.1	167.8	28.8%
EBITDA	Quarter ended
	June 22	June 21	Growth
Asia	15.9	12.5	27.8%
Middle East and Africa	1.0	-0.6	58.0%
Americas	4.3	5.5	-23.0%
Total	21.2	17.4	21.6%

Domestic subsidiaries performance

• The Company has 12 domestic subsidiaries (including 1 partnership firm) and 3 associates.

• Domestic subsidiaries registered good sales growth. EBITDA margins of B2B subsidiaries remained under pressure due to higher input costs.

• Two of Pidilite’ s wholly owned subsidiaries namely Pidilite Adhesives Pvt. Ltd (PAPL) and Cipy Polyurethanes Pvt. Ltd (CIPY) have merged with the parent company w.e.f. 1[st] Apr’22. Accordingly, the previous periods have been restated, as if the merger had occurred from the beginning of the comparative periods.

• The performance of domestic subsidiaries is detailed below. These are like for like actual reported numbers excluding consolidation impacts.

Rs Crores

Sales	Quarter Ended	Quarter Ended	Quarter Ended
	June 22	June 21	Growth
Consumer & Bazar(C&B)	89.3	43.5	105.4%
Business to Business(B2B)	83.2	61.2	35.9%
Total	172.5	104.7	64.7%
EBITDA	Quarter Ended
	June 22	June 21	Growth
Consumer & Bazar(C&B)	16.2	4.3	277.9%
Business to Business(B2B)	0.9	-7.2	112.0%
Total	17.1	-2.9	682.6%

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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 STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2022

		Rs Crores	Rs Crores	Rs Crores	Rs Crores
Sr. No.	Particulars	For the Quarter ended			For the Year ended
1	Total Income a) Revenue from Operations b) Other Income	30.06.2022	31.03.2022	30.06.2021	31.03.2022
		Unaudited	Unaudited (Refer Note 5)	Unaudited (Refer Note 5)	Audited (Refer Note 5)
		2789.74 10.71	2229.84 9.84	1719.37 6.46	8895.62 39.96
	Total Income	2800.45	2239.68	1725.83	8935.58
2	Expenses a) Cost of materials consumed b) Purchases of stock-in-trade c) Changes in inventories of finished goods, work-in-progress and stock-in-trade d) Employee benefits expense e) Finance costs f) Depreciation, amortisation and impairment expense g) Otherexpenses	1444.52 228.19 (21.75) 265.17 4.43 50.42 386.39	1260.88 177.10 (164.44) 231.27 5.27 50.85 336.82	822.47 119.07 (61.50) 234.50 6.31 45.28 280.75	4523.17 607.84 (225.52) 926.76 27.24 194.38 1290.97
	Total Expenses	2357.37	1897.75	1446.88	7344.84
3	Profit before exceptional items and tax (1-2)	443.08	341.93	278.95	1590.74
4	Exceptional items	-	-	-	-
5	Profit before tax (3-4)	443.08	341.93	278.95	1590.74
6	Tax Expense Current tax Deferred tax	120.00 (10.27)	79.30 10.60	73.59 (2.12)	397.53 1.80
7	Profit for the period (5-6)	333.35	252.03	207.48	1191.41
8	Other Comprehensive Income Items that will not be reclassified to profit or loss Income tax relatingto items that will not be reclassified toprofit or loss	0.85 (0.21)	(4.69) 1.18	(1.71) 0.43	(12.11) 3.05
9	Total Comprehensive Income for the period (7+8)	333.99	248.52	206.20	1182.35
10	Paid-up Equity Share Capital (Face value of share : Re. 1/-)	50.83	50.83	50.82	50.83
11	Other Equity				6292.87
12	Earnings per equity share in Rs. a) Basic b)Diluted	@ 6.56 @ 6.55	@ 4.96 @ 4.96	@ 4.08 @ 4.08	23.45 23.43

@ For the period only and not annualised.

See accompanying Notes to Financial Results

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STANDALONE SEGMENT INFORMATION FOR THE QUARTER ENDED 30.06.2022

		Rs Crores	Rs Crores	Rs Crores	Rs Crores
Sr. No.	Particulars	For the Quarter ended			For the Year ended
		30.06.2022	31.03.2022	30.06.2021	31.03.2022
		Unaudited	Unaudited (Refer Note 5)	Unaudited (Refer Note 5)	Audited (Refer Note 5)
1	Segment Revenue a) Consumer & Bazaar Products b) Business to Business c) Others Total Less : Inter Segment Revenue	2198.30 632.87 25.78	1713.22 554.85 18.77	1321.31 420.37 9.89	7018.02 1987.32 63.70
		2856.95 67.21	2286.84 57.00	1751.57 32.20	9069.04 173.42
	Revenue from Operations	2789.74	2229.84	1719.37	8895.62
2	Segment Results a) Consumer & Bazaar Products b) Business to Business c) Others Total Less : i) Finance Costs ii) Other Unallocable Expenditure net of Unallocable Income	510.38 74.92 1.42	414.43 47.84 (0.82)	348.92 55.12 0.60	1874.79 195.00 (2.16)
		586.72 4.43 139.21	461.45 5.27 114.25	404.64 6.31 119.38	2067.63 27.24 449.65
	Profit Before Exceptional Item and Tax	443.08	341.93	278.95	1590.74
	Exceptional Items	-	-	-	-
	Profit Before Tax	443.08	341.93	278.95	1590.74
3	Segment Assets a) Consumer & Bazaar Products b) Business to Business c) Others d)Unallocated	6075.72 1511.93 19.01 1694.66	5740.11 1412.04 11.74 1574.48	5547.60 1235.28 27.06 1521.10	5740.11 1412.04 11.74 1574.48
	Total Segment Assets	9301.32	8738.37	8331.04	8738.37
4	Segment Liabilities a) Consumer & Bazaar Products b) Business to Business c) Others d)Unallocated	1585.96 519.58 2.82 509.71	1340.46 495.64 1.00 557.57	1057.57 407.62 1.78 1084.34	1340.46 495.64 1.00 557.57
	Total Segment Liabilities	2618.07	2394.67	2551.31	2394.67

Consumer & Bazaar segment (C&B) 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. Business to Business (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.

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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 10th August 2022.

2. The Statutory auditors have carried out a "Limited Review" of the above financial results for the quarter ended 30th June 2022 and have issued an unmodified opinion.

3. 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. The Company has allotted 10,535 equity shares on 22nd June 2022 of face value of Re. 1/- each under Employee Stock Option Plan - 2016 to the employees of the Company, to whom the options were granted.

5. During previous year, the Company had filed two merger applications with National Company Law Tribunal (NCLT) with respect to merger of its wholly owned subsidiaries namely Pidilite Adhesives Pvt. Ltd (PAPL) and Cipy Polyurethanes Pvt. Ltd (CIPY). Consequent to the filing of NCLT orders approving the mergers with Registrar of Companies, mergers have become effective from Appointed date being 1st April 2022. Accordingly, the previous periods have been restated for the accounting impact of merger, as if the merger had occurred from the beginning of the comparative periods.

6. The figures for the quarter ended 31st March 2022 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.

FOR AND ON BEHALF OF THE BOARD OF DIRECTORS

Mumbai Dated : 10th August 2022

BHARAT PURI Managing Director DIN: 02173566

PIDILITE INDUSTRIES LIMITED

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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 30.06.2022

		Rs Crores	Rs Crores	Rs Crores	Rs Crores
Sr. No.	Particulars	For the Quarter ended			For the Year ended
1	Total Income a) Revenue from Operations b)Other Income	30.06.2022	31.03.2022	30.06.2021	31.03.2022
		Unaudited	Unaudited	Unaudited	Audited
		3101.11 10.68	2507.10 11.11	1936.79 6.12	9920.96 36.30
	Total Income	3111.79	2518.21	1942.91	9957.26
2	Expenses a) Cost of materials consumed b) Purchases of stock-in-trade c) Changes in inventories of finished goods, work-in-progress and stock-in-trade d) Employee benefits expense e) Finance costs f) Depreciation, amortisation and impairment expense g)Other expenses	1565.36 249.77 (7.15) 315.73 9.03 61.32 447.92	1413.88 186.62 (184.23) 278.61 9.35 62.19 411.14	911.18 139.50 (64.97) 280.60 9.62 56.63 322.89	5040.74 648.40 (244.96) 1112.36 42.08 239.61 1517.13
	Total Expenses	2641.98	2177.56	1655.45	8355.36
3	Profit before Exceptional Items, Share of profit of Associates and Joint venture and Tax (1-2)	469.81	340.65	287.46	1601.90
4 5	Share of profit of associates (net of tax) Share ofprofit ofjoint venture(net of tax)	3.42 -	5.22 -	2.28 -	11.88 -
6	Profit before Exceptional Items and Tax (3+4+5)	473.23	345.87	289.74	1613.78
7	Exceptional items	-	-	-	-
8	Profit before tax (6-7)	473.23	345.87	289.74	1613.78
9	Tax Expense Current tax Deferred tax	123.30 (7.59)	79.95 11.57	76.87 (4.77)	407.94 (0.92)
10	Profit for the period (8-9)	357.52	254.35	217.64	1206.76
	Attributable to: Shareholders of the Company Non ControllingInterest	353.61 3.91	254.35 -	220.07 (2.43)	1207.56 (0.80)
11	Other Comprehensive Income Items that will not be reclassified to profit or loss Income tax relating to items that will not be reclassified to profit or loss Items that will be reclassified to profit or loss	0.68 (0.18) 9.92	(5.71) 1.44 (14.38)	(1.62) 0.41 6.76	(12.88) 3.23 (12.46)
	Total Other Comprehensive Income	10.42	(18.65)	5.55	(22.11)
	Attributable to: Shareholders of the Company Non Controlling Interest	7.66 2.76	(17.23) (1.42)	5.66 (0.11)	(20.63) (1.48)
12	Total Comprehensive Income for the period (10+11)	367.94	235.70	223.19	1184.65
	Attributable to: Shareholders of the Company Non ControllingInterest	361.27 6.67	237.12 (1.42)	225.73 (2.54)	1186.93 (2.28)
13	Paid-up Equity Share Capital (Face value of share : Re. 1/-)	50.83	50.83	50.82	50.83
14	Other Equity				6352.88
15	Earnings per equity share in Rs. a) Basic b)Diluted	@ 6.96 @ 6.95	@ 5.00 @ 5.00	@ 4.33 @ 4.33	23.76 23.75
@	For the period only and not annualised. See accompanying Notes to Financial Results

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CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER ENDED 30.06.2022

		Rs Crores	Rs Crores	Rs Crores	Rs Crores
Sr. No.	Particulars	For the Quarter ended			For the Year ended
		30.06.2022	31.03.2022	30.06.2021	31.03.2022
		Unaudited	Unaudited	Unaudited	Audited
1	Segment Revenue a) Consumer & Bazaar b) Business to Business c) Others Total Less : Inter Segment Revenue	2435.84 721.95 25.78	1913.23 645.28 18.77	1486.24 482.02 9.89	7794.41 2278.32 63.70
		3183.57 82.46	2577.28 70.18	1978.15 41.36	10136.43 215.47
	Revenue from Operations	3101.11	2507.10	1936.79	9920.96
2	Segment Results a) Consumer & Bazaar b) Business to Business c) Others Total Less : i) Finance Costs ii) Other Unallocable Expenditure net of Unallocable Income Add: Share ofprofit of associates andjoint venture	535.16 74.84 1.42	417.70 44.41 (0.82)	370.44 42.01 0.60	1933.70 152.70 (2.16)
		611.42 9.03 132.58 3.42	461.29 9.35 111.29 5.22	413.05 9.62 115.97 2.28	2084.24 42.08 440.26 11.88
	Profit Before Exceptional Item and Tax	473.23	345.87	289.74	1613.78
	Exceptional Items	-	-	-	-
	Profit before tax	473.23	345.87	289.74	1613.78
3	Segment Assets a) Consumer & Bazaar b) Business to Business c) Others d)Unallocated	7131.93 1945.14 19.01 1035.29	6804.00 1850.86 11.74 849.02	6596.68 1633.37 27.06 791.99	6804.00 1850.86 11.74 849.02
	Total Segment Assets	10131.37	9515.62	9049.10	9515.62
4	Segment Liabilities a) Consumer & Bazaar b) Business to Business c) Others d)Unallocated	1630.77 1012.29 2.82 509.71	1699.18 974.19 1.00 238.64	1377.34 837.20 1.78 769.11	1699.18 974.19 1.00 238.64
	Total Segment Liabilities	3155.59	2913.01	2985.43	2913.01

Consumer & Bazaar (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. Business to Business (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.

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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 10th August 2022.

2. The above results comprise the results of Pidilite Industries Ltd. (Parent Company), 32 subsidiary companies (including one partnership firms), (Parent Company and it's subsidiaries together referred as "the Group") three Associate Companies and one Joint Venture. The Statutory auditors have carried out a " Limited Review" of the above financial results for the quarter ended 30th June 2022 and have issued an unmodified opinion.

3. The financial results of the Group 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. The Parent Company has allotted 10,535 equity shares on 22nd June 2022 of face value of Re. 1/- each under Employee Stock Option Plan - 2016 to the employees of the Company, to whom the options were granted.

5. During previous year, the Parent Company had filed two merger applications with National Company Law Tribunal (NCLT) with respect to merger of its wholly owned subsidiaries namely Pidilite Adhesives Pvt. Ltd (PAPL) and Cipy Polyurethanes Pvt. Ltd (CIPY). Consequent to the filing of NCLT orders approving the mergers with Registrar of Companies, mergers have become effective from Appointed date being 1st April 2022.

6. The figures for the quarter ended 31st March 2022 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.

7. 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 Dated : 10th August 2022

BHARAT PURI Managing Director DIN: 02173566

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Q1’ FY 23

Earnings Presentation

OUR BRANDS

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DISCLAIMER

This presentation may contain statements which reflect the management’s current views and estimates and could be construed as forward looking statements. The future involves certain risks and uncertainties that could cause actual results to differ materially fro ~~m~~ the current views being expressed. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments.

03

MARKET OUTLOOK

• ➢ Currently the domestic demand situation is stable with a positive bias due to continued good demand conditions in housing and home improvement sector and good monsoon

• ➢ Global operating environment in terms of inflation, currency and supply chain disruptions remain fragile and might impact margins.

• ➢ The recent tightening in monetary policies by Central Banks for taming inflation, may impact consumer sentiments

• ➢ Recent softening of input prices led by lower oil prices are encouraging but benefit of this will flow in second half of financial year.

• ➢ The focus continues to be to deliver broad based profitable volume growth.

03

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FINANCIAL HIGHLIGHTS

EARNINGS SUMMARY

Q1’ FY23

NET SALES EBITDA PBT PAT CONSOLIDATED Rs. 3,091 Cr Rs. 529 Cr Rs. 473 Cr Rs. 358 Cr YOY GROWTH 60.3% 52.3% 63.3% 64.3% STANDALONE Rs. 2,778 Cr Rs. 487 Cr Rs. 443 Cr Rs. 333 Cr YOY GROWTH 62.5% 50.3% 58.8% 60.7%

• EBITDA is before non operating income. PBT is Profit before tax and Exceptional Items.

PERFORMANCE OVERVIEW

• ➢ Q1 FY23 recorded robust revenue growth, a combination of higher volumes and measured price increases.

• ➢ Consolidated Revenue crossed a new milestone of Rs 3,000 cr in the current quarter.

• ➢ C&B reported growth across all geographies and categories of adhesives, construction chemicals and DIY portfolio. B2B growth was strong across all verticals.

• ➢ While input costs remained elevated, EBITDA Margins remained constant sequentially on account of calibrated pricing, increased sales and effective cost management actions.

• ➢ Domestic subsidiaries registered good sales growth. EBITDA margins of B2B subsidiaries remained under pressure due to higher input costs.

• ➢ International subsidiaries maintained positive momentum and reported high double-digit constant currency revenue growth largely led by judicious pricing actions.

03

OVERSEAS SUBSIDIARIES PERFORMANCE Q1’ FY23

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(in INR Crores)
Asia
Sales
83.8
63.4
Americas
Sales EBITDA
70.9 15.9
55.3 12.5
EBITDA
Middle East and Africa
5.5
4.3
Sales
EBITDA
61.4
49.1 1.0
-0.6
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• Amounts are like for like actual reported numbers excluding translations and other consolidation impacts

• Amounts in ‘ bold ‘ denotes CY

8

DOMESTIC SUBSIDIARIES PERFORMANCE Q1’FY23

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INR (Rs in Crore)
160
120
89.3
83.2
80 61.2
43.5
40
0
Consumer & Bazar (C&B) Business to Business (B2B)
Q1 FY 22 Q1 FY 23
45
25 16.2
4.3
0.9
5
-15
-7.2
Consumer & Bazar (C&B) Business to Business (B2B)
Q1 FY 22 Q1 FY 23
NET SALES
EBITDA
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EBITDA is before exception items. Figures are reported excluding other consolidation impacts.

A COMPANY AT GLANCE

Brand established

in 1959

Pioneer in Consumer & Specialty Chemicals

8 Regional offices

30 plants

34 co-makers in India

7500+ employees

Adhesives & sealants, construction chemicals, art & craft products & polymer emulsions

International manufacturing facilities in USA, Thailand, Dubai, Brazil, Egypt, Bangladesh, Sri Lanka & Kenya

Rs 725 Cr revenue

from overseas

History of creating strong brands

Exporter of Pigments and Pigment emulsions to

emerging markets as well as Europe and North America

Among the most trusted brands in the country. Other big brands include M-Seal, Fevikwik, Fevistik, Roff, Dr. Fixit, Fevicryl, Araldite, Araldite Karpenter and Araseal.

3 R&D centres in India.

1 in Singapore

1 in USA

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subsidiaries in FY 22

INDUSTRY SEGMENT COMPOSITION

6.0% 7.2% Pigment & Industrial Resins, Preparations Construction chemicals (Project) etc. 0.7% Others 6.5% Industrial Adhesives 5.9% Art & Craft Materials etc. 53.4% 79.6% Adhesives & Consumer & Bazaar products 20.3% Sealants Construction & 19.7% Paint Chemicals Business to Business products 0.7% Others

Standalone Results - % of Total Sales based on FY 2021-22

5-Year Performance by Business Segments

Numbers represent Percentage of Total Sales

Consumer and Bazaar (C&B)

Business to Business (B2B) B2B includes Others also

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81%
81%
80% 80%
80%
79%
79%
77%
75%
2017-18 2018-19 2019-20 2020-21 2021-22
Consumer & Bazaar Products
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21%
21%
20% 20%
20%
19%
19%
17%
15%
2017-18 2018-19 2019-20 2020-21 2021-22
Business to Business and others
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DOMESTIC PRESENCE INDIA OPERATIONS

• 6,000+ SKUs of 850+ products

Domestic Revenue of for FY22 Rs. 7,461 Cr

• 30 plants, 34 Co-makers

• 4,700+ distributors

• 43 warehouses

• 8 regional offices & 3 RDCs

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SHARE HOLDING PATTERN- 30th June 2022

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14.96% Promoters
Mutual Funds
FPIs
Others
11.13%
3.97%
69.94%
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MARKETING & ADVERTISING

Consistent and effective brand building activities across various categories a. Consumer Adhesives & Sealants b. Craftsmen Adhesives c. Waterproofing Chemicals d. Hobby & Craft Colours

Several of the brands are well-known in respective categories (Fevicol, Fevikwik, M-Seal, Dr Fixit, Fevicryl, etc.)

Award winning advertisements resulting in mass appeal of brands across all segments and geographies.

Significant relationship building activities with end users and influencers.

Extensive grass root contact with endusers to promote usage of products and brands.

CONNECTING DIGITALLY

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CELEBRATING OCCASSIONS- DIGITAL WAY

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SHARE PRICE MOVEMENT

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130
125
120
115
110
105
100
95
90
85
Pidilite Sensex
01-Jul-21 14-Jul-21 27-Jul-21 09-Aug-21 22-Aug-21 04-Sep-21 17-Sep-21 30-Sep-21 13-Oct-21 26-Oct-21 08-Nov-21 21-Nov-21 04-Dec-21 17-Dec-21 30-Dec-21 12-Jan-22 25-Jan-22 07-Feb-22 20-Feb-22 05-Mar-22 18-Mar-22 31-Mar-22 13-Apr-22 26-Apr-22 09-May-22 22-May-22 04-Jun-22 17-Jun-22 30-Jun-22
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Rebased to 100

CONSISTENT DIVIDEND PAYOUTS

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50%
40.6% 39.9% 40.1%
38.1%
40%
36.9%
30%
20%
10%
0%
FY18 FY19 FY20 FY21 FY22
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FY 22: Final dividend of Rs. 10.0 per share approved by shareholders at the AGM held on 10th August 2022

Note: The Net Profit considered for above calculation is excluding exceptional items

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CIN : L24100MH1969PLC014336

Investor Relations Investor.relations@pidilite.co.in

Manisha Shetty [Company Secretary]

Ramkrishna Mandir Road, Off Mathuradas Vasanji Road, Andheri (E), Mumbai - 400 059. Phone : +91 22 28357949 Fax : +91 22 28216007

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