Pidilite Industries Posts 1 percent Decline on Consolidated Sales, Operating Profit Declined by 19 percent for Q1 QoQ
Pidilite Industries Limited, India’s leading manufacturer of adhesives, sealants and construction chemicals today announced its financial results for the quarter ended June 30, 2017.
- Gross sales at Rs 1,662 Cr declined by 1% over the same quarter last year.
- EBITDA, before non-operating income stood at Rs 321 Cr for the quarter and declined by 19% over same quarter last year.
- Net Profit after tax in current quarter is Rs 227 Cr declined by 17% over same quarter in the last year.
- Gross sales at Rs 1,479 Cr was similar to the same quarter last year with underlying volume & mix being largely constant.
- EBITDA, before non-operating income, at Rs 306 Cr is lower by 21% over the same quarter last year.
- Net Profit after tax at Rs 217 Cr declined by 20% over same quarter last year.
Commenting on the quarter performance, Mr. Bharat Puri, Managing Director, Pidilite Industries Ltd, said:
“This quarter saw the announcement of the launch of GST, a welcome tax reform for the country. Performance in this quarter was impacted by the short-term challenges of transition to GST largely as a result of destocking by customers in June as well as an upward trend in some key raw material prices. We continued to invest in our brands, people and manufacturing facilities as we remain positive on the medium-term outlook for the industry.”
Pidilite Industries Limited is a leading manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products and polymer emulsions in India. Our products range also includes paint chemicals, automotive chemicals, art materials and stationery, fabric care, maintenance chemicals, industrial adhesives, industrial, textile resins and organic pigments & preparations. Most of the products have been developed through strong in-house R&D. Our brand name Fevicol has become synonymous with adhesives to millions in India and is ranked amongst the most trusted brands in the country. Some of our other major brands are MSeal, Fevikwik, Fevistik, Roff, Dr.Fixit, Fevicryl, Motomax and Hobby Ideas.