Pidilite Industries show decent performance in challenging environment

Pidilite delivered decent performance in 3QFY17 despite demonetisation. While consolidated net sales remained flat, net profit grew by 1.7% YoY. The core Consumer & Bazaar business posted 0.8% YoY growth in sales, while the Industrial Products segment witnessed 3.6% YoY de-growth.
Notwithstanding the impact of demonetisation on near term business growth, they continue to remain positive on the long-term growth prospects of Pidilite due to strong brands, market leadership and management pedigree.
 
Mixed Show in International Biz
 
Revenue from International business grew by 3% YoY. South America and MENA business grew by 12% YoY and 14%YoY, respectively. Pidilite recorded sharp 22% YoY revenue growth in SAARC region.