Pidilite Industries reports 58% YOY growth in PAT at Rs 346 crore in Q3 FY20

Net sales of Pidilite Industries grew by 4% over the same quarter last year.

Pidilite Industries Limited, a leading manufacturer of adhesives, sealants and construction chemicals reported a profit after tax (PAT) at Rs 346 crore grew by 58% over the same quarter last year. For the nine months ended, profit after tax at Rs 966 Cr grew by 40% (excluding exceptional items* grew by 42%).

Net sales at Rs 1,916 Cr grew by 4% over the same quarter last year. Net sales for the nine months ended stood at Rs 5,719 Cr and grew by 6% over the same period last year.

EBITDA before non-operating income stood at Rs 464 Cr a growth of 36% over the same quarter last year. EBITDA for the nine months ended stood at Rs 1278 Cr and grew by 16% over the same period last year.

Profit before Tax (PBT) at Rs 455 Cr grew by 38% over the same quarter last year. PBT for the nine months ended stood at Rs 1,248 Cr and grew by 18% (excluding exceptional items* grew by 19%) over the same period last year.

On the standalone basis, PAT at Rs 330 Cr grew by 47% over the same quarter last year. The effective tax rate for the quarter has been reduced from 32.3% to 23.8% due to a reduction in corporate tax rate and remeasurement of deferred tax liability.

Commenting on the quarter performance, Bharat Puri, Managing Director, Pidilite Industries Ltd, said, “Amidst a challenging market environment Pidilite has delivered a resilient performance. While top-line growth remains subdued, earnings have improved substantially, primarily as a result of softer input cost. We remain focused on driving volume growth enabled by investments in brand building, growth categories, capabilities and sales and distribution.”