Pidilite Industries Ltd. is a top manufacturer of adhesives and a wide range of industrial and automotive speciality chemicals, the company is based in Mumbai. The Company's products are used by various industries. Their products include adhesives & sealants, water-based coatings and household cleaners.
Pidilite Industries operates through two business segments: Automotive Products and Industrial Products. It has manufacturing facilities at Mahad (Maharashtra), Vapi (Gujarat), and Baddi (Himachal Pradesh). The company was incorporated in 1969 as a private limited company under the name of Pidilite India Limited. In 1993, the company name changed to Pidilite Industries Limited when it went public.
Business Verticals
Pidilite Industries has a range of business divisions and operations. The company’s flagship division is its automotive products division, which manufactures and sells paints, coatings, adhesives, sealants, automotive chemicals, windshield washer fluids, etc. The other major division is its industrial products division which produces various industrial products including roofing coatings for cement tiles & slates, paint removers, rust converters, marine anti-fouling paints, marine anti-corrosion chemicals & equipment etc.
Company History
In 1973, Pidilite was the first company in India to begin producing violet pigment. The company's consumer product division was established in 1984, and the company entered the Fevicryl acrylic colors transform fabric and multi-surface painting market in 1989.
Pidilite Industries' Board of Directors approved an investment in equity shares of Nina Waterproofing Systems Private Limited at its meeting on March 30, 2015. The company's proposed shareholding in Nina was 70%, making Nina a subsidiary of the company. NINA is regarded as one of India's leading waterproofing solution contractors.
In 2020, an agreement was also approved with Huntsman Group (USA) to acquire a 100 per cent stake in Huntsman Advanced Materials Solutions Private Limited (HAMSPL) for approximately Rs. 2100 Crore in cash.
Milestones
1959 - Balvant Kalyanji Parekh founded the company.
1992 - Madhukar B. Parekh becomes Chairman and M.D.
1993 - Listed on the NSE; net worth INR 60 crores.
2010 - Sales more than doubled to Rs 3,442 crore, and net profit more than tripled to Rs 460 crore.
2014 - Pidilite received the Dun & Bradstreet Corporate Award 2014 in the chemical sector.
2015 - Bharat Puri assumed the role of Managing Director.
M B Parekh, Executive Chairman of PIL, was named EY Entrepreneur of the Year in the category of Consumer Products.
2016 - Awarded 'Most Promising Company of the Year' at CNBC-TV18 IBLA 2016 by India's Finance and Law Ministers.