Pidilite Industries Ltd
- The company started in 1959 with a single factory that manufactured only one product, Fevicol
- The company has diversified product portfolio from adhesives, sealants, waterproofing solutions and construction chemicals to arts & crafts, industrial resins, polymers and more.
- During FY 2021 the Company acquired 100% shares of Huntsman Advanced Materials Solutions Private Limited.
Pidilite Industries Ltd (NSE: PIDILITIND) started in 1959 with a single factory that manufactured only one product, Fevicol. For decades, Pidilite Industries has been pioneering products for small to large applications, at home and industry, which have forged strong bonds with people from all walks of life.
From adhesives, sealants, waterproofing solutions and construction chemicals to arts & crafts, industrial resins, polymers and more, its product portfolio is as diverse as it is ever-evolving. Today, its brands are trusted household and industrial names, and Pidilite Industries is the market leader in adhesives.
The Company operates under two major business segments i.e. Branded Consumer & Bazaar and Business to Business.
Products, such as Adhesives, Sealants, Art & Craft Materials and Others, Construction and Paint Chemicals are covered under Branded Consumer & Bazaar segment. These products are widely used by carpenters, painters, plumbers, mechanics, households, students, offices etc.
Business to Business segment covers products, such as Industrial Adhesives, Industrial Resins, Construction Chemicals (Projects), Organic Pigments, Pigment Preparations, etc. and caters to various industries like packaging, joineries, textiles, paints, printing inks, paper, leather, etc.
In both the above business segments, there are a few medium to large companies with national presence and a large number of small companies which are active regionally. Multinational companies are also present in many of the product categories in which the Company operates.
Major Plant locations
- Mahad, Taloja, Karad (Maharashtra);
- Vapi, Surat, Dahej, Panoli (Gujarat);
- Daman (Union Territory of India);
- Kala Amb, Baddi, Nalagarh (Himachal Pradesh);
- Secunderabad (Telangana);
- Guwahati (Assam);
- Vizag (Andhra Pradesh).
From adhesives, waterproofing solutions and construction chemicals to arts & crafts, industrial resins and more, its brand portfolio is as diverse as it is ever-evolving.
- Fevicol MR
- Dr. Fixit
- Hobby Ideas
- Fevi Gum
- Fine Art
- DDL Premium Distemper
- Zorrik 88
- Upscale Plastic Emulsion
- Glue drops
Product and Services
Pidilite has been spearheading the market of adhesives with its water-based, solvent-based and hot melt technologies. The company cater to customers in the industry of packaging, book binding, tapes and labels, cigarettes, product assembly, flexible packaging as well as footwear and accessories. The company's products meet stringent regulatory and compliance norms like FDA, REACH, and ROHS amongst others, which help make its customer base strong not only in the Indian subcontinent, but also in the Middle-East and Africa.
Pidilite Industries has a team of experienced technical service professionals working full-time to help give hassle free solutions to its customers. The company's tie-ups with leading OEM suppliers, book-binders and converting machinery manufacturers also help it offer customised solutions to every problem.
Pidilite has a wide range of solutions for wood finishes needs of multiple categories of users and consumers. The product portfolio ranges from basic wood polishing needs to advanced wood coating solutions. The company's products cover the entire spectrum of wood coating process like preparation of wood, sealing, tinting, and top coats.
Products targeted at mass market of wood coatings consists of anti-termite treatment, wood fillers, sanding sealer, stains, and Melamine and PU top coats in single as well as two component system. These cover the needs for good quality wood coating at affordable cost. Apart from coating wooden furniture, many of these products are also used by handicraft units as well as for DIY application by consumers.
In the premium wood coating systems, the company bring to you a world class range of products through its joint venture, ICA Pidilite, where Pidilite Industries has collaborated with ICA, the leading manufacturer of technologically advanced wood coatings. The wide range of products cover all your coating needs for your luxurious furniture. The portfolio comprises of a range of finishes, colours, textures to choose from which not only enhances the beauty of your furniture but also makes it durable and resistant to external vagaries. The products are available for both interior and exterior use.
The company's range of painting solution for walls is specially targeted at semi-urban and rural India. Pidilite Industries has a good mix of product to offer for this consumer segment in India that wants value for money solutions without compromising on quality. The company offer premium distemper, lime binder and stainers for giving these consumers a fresh and colourful look in their homes that is pleasant to eyes but very affordable.
Solutions with the latest construction technology The company's Waterproofing Solutions Business caters to customers seeking expert execution and proven integrated solutions for large scale projects. The Large Users Business (PLUB) not only provides a range of innovative products and systems but also specialized services. These are aimed at enhancing skill sets, knowledge capabilities and right construction practices.
AutoPro is an essential brand of Pidilite and offers a range of adhesive solutions for the automotive as well as general industries. These water based adhesives are MDC free as well as a great replacement for solvent based products for application to foam-to felt and foam-to-foam. The polyurethane adhesives for headliner, glass and panel bonding applications are excellent and the anaerobic adhesive solutions for gasketing, thread locking and thread sealing applications are of superior quality.
High demand for automotive components which are pre-coated with anaerobic adhesives has led it to cater to this demand. Continuous training of its partners has enabled a high precision application of adhesives on various components. AutoPro is ready to use, water based and a high temperature resistant product.
The company's comprehensive brand, Teknotex, includes binders, dispersants, thickeners, cross linkers, finishing agents and aids used in coatings as well as adhesives for lamination. These are used in segments of technical textiles like Hometech, Packtech, Indutech, Geotech, Sportech, and Protech. Pidilite’s extensive range of products is designed to impart special attributes and functionalities necessary for technical textiles. Besides this, Pidilite Industries has a robust range of flame retardant (FR) binders that meet international FR standards for automotive nonwovens. The company provide solutions to you keeping in mind what is best suited for your consumer.
Mechanical, Electrical & Plumbing
From ultra-strong insulation adhesives to innovative low VOC and non-flammable lag coatings, the Large Users Business (PLUB) offers a wide range of insulation adhesives, coatings, sealants and solvent cements specially designed for commercial and industrial markets.
Over the years, Pidilite has gained a reputation for executing challenging projects in India and abroad. Today Pidilite’s clients for MEP solutions include some of the most renowned corporations from various industries across the globe.
Experienced partner applicators have been a catalyst for its association with multiple green projects, which have proven to be a huge success for this vertical.
Tiles Adhesives & Grouting
A pioneer in the area of tile adhesive manufacturing, Roff has a complete range of products for various tile applications and care. From fixing tile-on-tile, fixing new tiles, different shades of grouts for filling tile joints to tile cleaners. The range includes various adhesives that can be used for high strength bonding of tiles on various surfaces like marble, glass, granite and stone.
The company know the importance of using the right type of grout with correct ancillary products and have designed a wide range of solutions that perfectly complement any and every tile and surface.
The company's world-class range of products includes more than just tile-fixing applications. They allow architects and builders to sit back in the assurance of a flawless execution of their vision.
In today's fast paced world, the demand for mechanized furniture units has increased manifold. This is mainly due to buyers’ time constraints, house renovation timings in urban societies, the need for a hassle and dust free environment and easy funding available for setting up furniture units. The company's products are used in joineries ranging from chair and sofa manufacturers to modular kitchen producers. The company offer a variety of adhesive solutions for surface lamination, edge banding, PVC membrane and solid wood bonding. The company's brand, Fevicol SWR, is the first choice for joineries which makes it the market leader in the ‘D3’ category of adhesives. In a short span of 3 years, Fevicol Hotmelts has been approved by major machine manufacturing companies, gaining their loyalty.
For PVC door manufacturers, Fevicol Membrane has proven to be the perfect solution. The company also provide adhesives for WPC/PVC applications, D4 grades for solid wood bonding and products for specialised niche applications. Another product which has proven its performance in all chair and sofa manufacturing problems is FEVICOL FASTTAK.
The company's products reach most of the country’s major cities and towns through a national network of 35 representatives and 6 regional managers. They are backed by marketing and technical experts who sit at the Head Office. The company's team is trained to understand a customer’s adhesive needs to ensure the right solutions, rather than just sell an adhesive.
Pidilite’s Large User Business offers a range of products that provide comprehensive system solutions, ensuring durable construction. The company's Large Users Business team offers a range of customizable System Solutions under the brand name of Dr.Fixit that addresses almost every surface such as basements, podiums, wet areas, water-bodies, terraces, roofs and external walls. The company also offer Green Building Solutions that permanently weatherproofs roofs and acts as an insulation from outside which in turn leads to high energy savings. Pidilite is also the foremost expert for providing solutions for Water Bodies and Clean Room Applications in Waterproofing.
The company's philosophy of true commitment to its customers led to the launch of the industry's first comprehensive warranty which assists customers diagnose the problem and choose the right product. The company's solutions are specially designed keeping in mind the complexity of large structures and thus provide better durability and sustainability of the structures.
There is an increasing requirement for OEM components which are pre-coated with anaerobic adhesives. At Pidilite, the company cater to this shift in customer demand by working closely with component manufacturers and equipping them with state-of-the-art infrastructure. Continuous training and skilling of its partners enable high precision application of adhesives on various components.
Pidilite has launched pre-applied products which are being used by most automotive and tractor manufacturers. AutoPro pre-applied benefits are superior to the existing technologies that are ready to use and high-temperature resistant to work under varying conditions
- Bamco Supply And Services Limited
- Bhimad Commercial Co. Pvt. Ltd.
- Building Envelope Systems India Ltd.
- Cipy Poly Urethanes Pvt. Ltd.
- Fevicol Company Limited
- ICA Pidilite Pvt. Ltd.
- Madhumala Ventures Pvt. Ltd.
- Nebula East Africa Private Limited
- Nina Lanka Construction Technologies Pvt Ltd
- Nina Percept Bangladesh Private Limited
- Nina Percept Private Limited
- Pagel Concrete Technologies Pvt. Ltd.
- Pidilite Adhesives Private Limited
- Pidilite Bamco Limited
- Pidilite Chemical PLC
- Pidilite C-Techos Walling Limited
- Pidilite East Africa Limited
- Pidilite Grupo Puma Manufacturing Limited
- Pidilite Industries Egypt SAE
- Pidilite Industries Trading (Shanghai) Co. Ltd
- Pidilite Innovation Centre Pte Ltd
- Pidilite International Pte Ltd
- Pidilite Lanka Private Limited
- Pidilite Litokol Private Limited
- Pidilite MEA Chemicals LLC
- Pidilite Middle East Limited
- Pidilite Speciality Chemicals Bangladesh Private Limited
- Pidilite Trading Egypt L.L.C
- Pidilite USA Inc
- Pidilite Ventures LLC
- PT Pidilite Indonesia
- Pulvitec Do Brasil Industria E Commercio E Adesivos LTDA
- Tenax Pidilite India Pvt Ltd
India has been impacted substantially by the second wave of the Covid 19 pandemic. There remains an uncertainty around the duration of the pandemic and the resultant impact on consumer sentiment and demand.
Input Inflation may continue during the current year as well. The Company is taking necessary steps to mitigate the impact of inflation through appropriate pricing and cost control measures.
The uncertain demand scenario coupled with significant inflation in input costs will call for active management of the rapidly evolving situation while maintaining employee and business eco system safety and security. While the rollout of the vaccination programme is encouraging, it is evident that this will take considerable time before business sentiment is positively impacted. The Company has put in place a number of measures that impact both the delivery as well as the development agenda so as to remain resilient during these times. The company's strategy is continuously evolving to address these challenges as well as adapt to market conditions.
While major subsidiaries in India are taking initiatives to improve margins and achieve consistent sales growth in their respective businesses, the impact of the pandemic on economic growth does pose a short term risk to these plans.
The Company’s major international subsidiaries are in Bangladesh, Sri Lanka, USA, Brazil, Thailand, Egypt and Dubai. Various initiatives are being taken to increase sales and market share in each of the significant geographies. The business environment in these countries remains subdued as they all face the ongoing impact of the pandemic and consequent impact on business.
During the year ended March 31, 2021 the Company acquired 100% shares of Huntsman Advanced Materials Solutions Private Limited. This company has since been renamed as Pidilite Adhesives Private Limited (PAPL).
PAPL is in the business of selling Adhesives, Sealants and other products under well-known brands such as Araldite, Araldite Karpenter and Araseal in India. PAPL has a nation-wide distribution network and a strong presence in retail trade. In the calendar year 2019, business revenue was approximately Rs 400 crores. In addition to the Indian sub-continent business, the acquisition includes a Trademark licence for Middle East, Africa and Asian countries.
Araldite will add to the very strong portfolio of Pidilite’s adhesive and sealant brands. This acquisition is likely to create a significant shareholder value through strong revenue and cost synergies.
PAPL reported sales of Rs 168 crores and EBITDA of Rs 60 crores from 4th November 2020 till 31st March 2021.
The Company has completed the acquisition of the business of wholly owned entity M/s. Nitin Enterprise, (a partnership firm having two partners, both of which are wholly owned subsidiaries of the Company).
During the year, investment of Rs 2,333.82 crores (previous year Rs 146.18 crores) was made in subsidiaries. Of this, Rs 2,323.04 crores (including contingent consideration) was invested in domestic subsidiaries and Rs 10.78 crores in overseas subsidiaries.
The investments in domestic subsidiaries were in Madhumala Ventures Pvt Ltd (` 10.51 crores), Nina Percept Pvt Ltd (` 4.82 crores), Pidilite Litokol Pvt Ltd (` 14.28 crores), Pidilite Grupo Puma Manufacturing Ltd (` 11.71 crores), Pidilite C-Techos Walling Ltd (` 0.60 crores) and in the newly acquired subsidiaries Tenax Pidilite India Pvt Ltd (formerly known as Tenax India Stone Products Pvt Ltd) (` 84.66 crores) and Pidilite Adhesives Pvt Ltd (formerly known as Huntsman Advanced Materials Solutions Pvt. Ltd.) (` 2,196.46 crores).
The investments in overseas subsidiaries were in Pidilite Middle East Ltd (` 10.33 Crores) and Pidilite Chemical PLC (` 0.45 crores).
The total capital expenditure during the year was Rs 336.69 crores (previous year Rs 369.03 crores) primarily spent on fixed assets for various manufacturing units, offices, laboratories, warehouses and on information technology
Pidilite Industries Q4 results
May 13, 2021; Pidilite Industries posted a 96.4% jump in consolidated net profit to Rs 307.44 crore on 44.7% jump in net sales to Rs 2235.52 crore in Q4 FY21 over Q4 FY20.
Profit before tax soared 85.1% to Rs 411.19 crore in Q4 March 2021 from Rs 222 crore in Q4 March 2020. EBITDA before non-operating income stood at Rs 460 crore in Q4 FY21, rising by 52% over the same quarter last year.
The adhesive maker's Consumer and Bazaar (C&B) segment registered volume and value growth in excess of 45% during this quarter. Robust growth was registered across all major categories like adhesives, construction chemicals and DIY segment driven by continued demand momentum in both rural and urban geographies.
The Business to Business (B2B) segment posted sequential strong volume and value growth in excess of 26% aided by gradual and consistent pick-up in economic activities. Overseas subsidiaries have reported high double-digit constant currency revenue growth as well as strong earnings growth.
The company's overseas subsidiaries reported high double-digit constant currency revenue growth as well as strong earnings growth.
The company posted a 0.4% rise in consolidated net profit to Rs 1126.13 crore in the year ended March 2021 (FY21) compared with Rs 1122 crore posted in year ended March 2020 (FY20). Net sales stood at Rs 7,292 crore in FY21 as against Rs 7294 crore in FY20. EBITDA for the year ended stood at Rs 1,683 crore and grew by 7% over last year.
Commenting on the quarter performance, Bharat Puri, MD of Pidilite Industries said, This quarter witnessed robust broad-based growth across all businesses and geographies. Despite significant challenges in FY 21, Pidilite Industries has displayed adaptability and resilience while building capacity and capability. Gross margins continue to be impacted due to unprecedented inflation in input costs. Despite pricing and cost actions, the company expect margins to remain under pressure in the coming quarters. The current second wave of the pandemic poses challenges and Pidilite remains committed to working with its partners to overcome this crisis.
Meanwhile, the company has announced a dividend of Rs 8.5 per share for the financial year ended 31 March 2021.
Pidilite Industries is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products and polymer emulsions in India.
Pidilite Ind Consolidated June 2021
August 11, 2021; Reported Consolidated quarterly numbers for Pidilite Industries are:
- Net Sales at Rs 1,936.79 crore in June 2021 up 120.63% from Rs. 877.84 crore in June 2020.
- Quarterly Net Profit at Rs. 220.07 crore in June 2021 up 721.77% from Rs. 26.78 crore in June 2020.
- EBITDA stands at Rs. 353.71 crore in June 2021 up 309.53% from Rs. 86.37 crore in June 2020.
- Pidilite Ind EPS has increased to Rs. 4.33 in June 2021 from Rs. 0.53 in June 2020.
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