Pidilite Industries Q3 Results FY2023, Net Profit at Rs. 307.74 crores

On 24th January 2023, Pidilite Industries announced its results for the third quarter of FY2023.

Key Highlights:

-   Net sales for the current quarter at Rs 2,987 crores grew by 5% over the same quarter last year
-  EBITDA for the current quarter was Rs 496 Crores.  
-  PAT for the current quarter stood at Rs 307.74 Crores

Commenting on the results, Mr. Bharat Puri, Managing Director, Pidilite Industries Ltd, said: “Over the first nine months of the year, we have delivered robust broad-based value and volume growths across businesses and geographies. Our CAGR over the last three years remain healthy. Despite a very high price increase base, we have delivered modest value growth this quarter while maintaining a robust CAGR. While input prices have moderated, this is still reflected in our gross margins as we were consuming high-priced inventory this quarter. While demand conditions in rural and semi-urban areas remain under strain, we are increasingly optimistic of the future. This is a result of the significant input cost reductions as well as increased construction activity along with governmental initiatives in Capex and the rural sector. As an organization, we continue to invest in our brands, supply chain, digital infrastructure, innovation, and distribution to deliver volume-led profitable growth.”