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Screener Research Unlisted Startup Funding IPO

Pidilite Inds.

₹2633.3 -0.3 | 0%

Market Cap ₹133837 Cr.

Stock P/E 105.1

P/B 18.6

Current Price ₹2633.3

Book Value ₹ 141.9

Face Value 1

52W High ₹2916.9

Dividend Yield 0.42%

52W Low ₹ 1988.6

Overview Inc. Year: 1969Industry: Chemicals

Pidilite Industries Limited, which is engaged in consumer and commercial specialty chemicals. The Company operates thru 2 segments: Consumer & Bazaar (C&B) and Business to Business (B2B). C&B section is engaged within the sale of products particularly to end users, which are retail users, such as carpenters, painters, plumbers, mechanics, households, college students, places of work and other. Its sales include especially adhesives, sealants, artwork and craft substances and production and paint chemical substances. B2B segment is engaged in the sale of merchandise to end users, that are mainly big commercial enterprise users. This consists of Industrial Products (IP), together with adhesives, synthetic resins, natural pigments, pigment preparations, construction chemical compounds (tasks) and surfactants, and caters to various industries, inclusive of packaging, textiles, paints, joineries, printing inks, paper, leather. Its subsidiaries are Pidilite Adhesives Pvt Ltd, and Tenax Pidilite India Pvt Ltd

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Pidilite Inds. Share Price

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Volume
Price

Quarterly Price

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Peer Comparison

Pidilite Inds. Quarterly Results

#(Fig in Cr.) Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
Net Sales 2299 2236 1937 2626 2851 2507 3101 3011 2998 2689
Other Income 20 17 6 14 5 11 11 11 5 23
Total Income 2319 2253 1943 2640 2856 2518 3112 3022 3003 2712
Total Expenditure 1658 1775 1589 2077 2302 2106 2572 2511 2502 2230
Operating Profit 661 478 354 563 554 412 540 511 501 482
Interest 12 7 10 12 11 9 9 12 15 12
Depreciation 49 57 57 60 60 62 61 64 69 76
Exceptional Income / Expenses 0 -4 0 0 0 0 0 0 0 0
Profit Before Tax 600 410 287 491 483 341 470 436 417 394
Provision for Tax 155 104 72 116 127 92 116 101 111 107
Profit After Tax 445 306 215 375 356 249 354 335 306 287
Adjustments -3 0 5 -0 3 5 -0 -2 -2 -4
Profit After Adjustments 442 306 220 375 358 254 354 332 304 283
Adjusted Earnings Per Share 8.7 6 4.3 7.4 7.1 5 7 6.5 6 5.6

Pidilite Inds. Profit & Loss

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
Net Sales 3127 3678 4283 4844 5361 5617 6078 7078 7294 7293 9921 11799
Other Income 43 70 45 45 78 112 148 147 149 79 36 50
Total Income 3170 3749 4328 4890 5439 5729 6227 7225 7444 7372 9957 11849
Total Expenditure 2643 3085 3612 4073 4188 4357 4737 5710 5718 5612 8074 9815
Operating Profit 527 664 716 816 1251 1372 1490 1515 1725 1760 1884 2034
Interest 31 16 16 16 13 14 16 26 34 37 42 48
Depreciation 64 69 81 118 100 115 120 133 170 201 240 270
Exceptional Income / Expenses 0 2 -6 -5 0 0 0 -18 -55 -4 0 0
Profit Before Tax 433 581 612 678 1141 1248 1359 1342 1470 1522 1614 1717
Provision for Tax 110 160 165 169 334 385 393 413 348 396 407 435
Profit After Tax 323 422 447 509 807 863 966 928 1122 1126 1207 1282
Adjustments 2 2 3 4 -4 -3 -4 -3 -6 5 1 -8
Profit After Adjustments 324 424 450 513 803 860 962 925 1116 1131 1208 1273
Adjusted Earnings Per Share 6.4 8.3 8.8 10 15.7 16.8 19 18.2 22 22.3 23.8 25.1

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 36% 12% 12% 12%
Operating Profit CAGR 7% 8% 7% 14%
PAT CAGR 7% 9% 7% 14%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 26% 22% 20% 25%
ROE Average 20% 23% 24% 26%
ROCE Average 26% 30% 32% 34%

Pidilite Inds. Balance Sheet

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Shareholder's Funds 1321 1652 1953 2271 2638 3471 3574 4148 4456 5593 6404
Minority's Interest 1 1 4 5 43 127 175 207 216 240 199
Borrowings 92 0 0 1 6 5 7 9 25 12 2
Other Non-Current Liabilities 58 67 86 80 112 145 234 239 212 534 565
Total Current Liabilities 893 897 886 959 915 1022 1208 1301 1615 2435 2325
Total Liabilities 2364 2616 2928 3315 3714 4770 5199 5904 6523 8814 9494
Fixed Assets 618 646 729 978 1137 1275 1342 1448 1807 4418 4703
Other Non-Current Assets 428 534 558 666 425 361 548 874 955 881 775
Total Current Assets 1319 1436 1642 1671 2151 3134 3302 3582 3761 3515 4016
Total Assets 2364 2616 2928 3315 3714 4770 5199 5904 6523 8814 9494

Pidilite Inds. Cash Flow

#(Fig in Cr.) Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Opening Cash & Cash Equivalents 83 77 65 118 56 100 55 102 73 606 327
Cash Flow from Operating Activities 367 472 394 552 907 794 796 845 1280 1392 955
Cash Flow from Investing Activities -239 -144 -99 -436 -491 -879 39 -513 103 -1688 -558
Cash Flow from Financing Activities -135 -339 -242 -165 -371 41 -790 -361 -849 -76 -468
Net Cash Inflow / Outflow -7 -12 54 -49 45 -45 46 -29 533 -372 -71
Closing Cash & Cash Equivalent 77 65 118 69 101 56 102 73 606 327 256

Pidilite Inds. Ratios

# Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Earnings Per Share (Rs) 6.39 8.27 8.77 10 15.66 16.77 18.95 18.21 21.97 22.26 23.76
CEPS(Rs) 7.61 9.57 10.3 12.22 17.7 19.08 21.39 20.89 25.43 26.11 28.46
DPS(Rs) 1.9 2.6 2.7 2.9 4.15 4.75 6 6.5 7 8.5 10
Book NAV/Share(Rs) 26.01 32.22 38.08 44.28 51.38 67.48 70.21 81.47 87.48 109.55 125.33
Core EBITDA Margin(%) 14.72 15.22 14.81 15.02 20.58 20.78 21.57 19.33 21.61 23.05 18.62
EBIT Margin(%) 14.11 15.31 13.86 13.51 20.24 20.82 22.1 19.32 20.61 21.39 16.69
Pre Tax Margin(%) 13.17 14.91 13.5 13.21 20.01 20.59 21.85 18.95 20.15 20.88 16.27
PAT Margin (%) 9.82 10.82 9.86 9.91 14.16 14.24 15.54 13.12 15.38 15.44 12.16
Cash Profit Margin (%) 11.76 12.58 11.65 12.2 15.92 16.14 17.46 14.99 17.71 18.19 14.58
ROA(%) 14.64 16.94 16.13 16.29 22.97 20.35 19.38 16.72 18.06 14.69 13.18
ROE(%) 26.83 28.38 24.81 24.09 32.92 28.33 27.5 24.1 26.15 22.5 20.22
ROCE(%) 30.26 35.06 33.43 32.05 45.73 40.16 37.82 34.37 33.81 29.86 26.48
Receivable days 41.18 38.66 38.43 39.48 41.22 44.26 50.09 51.42 53.65 60.3 50.62
Inventory Days 47.96 45.78 45.21 44.11 40.6 40.59 44.76 44.83 46.63 54.14 53.88
Payable days 39.8 41.29 46.18 46.46 49.84 52.84 59.04 57.22 64.45 87.98 68.92
PER(x) 27.79 31.81 34.81 60.1 37.79 41.66 48.47 68.24 61.74 81.31 103.35
Price/Book(x) 6.83 8.17 8.02 13.57 11.52 10.36 13.08 15.25 15.51 16.52 19.59
Dividend Yield(%) 1.07 0.99 0.88 0.48 0.7 0.68 0.65 0.52 0.52 0.47 0.41
EV/Net Sales(x) 2.9 3.66 3.62 6.36 5.65 6.38 7.67 8.91 9.38 12.58 12.57
EV/Core EBITDA(x) 17.19 20.27 21.67 37.72 24.2 26.11 31.28 41.61 39.64 52.13 66.22
Net Sales Growth(%) 17.66 17.64 16.45 13.1 10.67 4.77 8.22 16.44 3.06 -0.02 36.04
EBIT Growth(%) 5.49 28.8 5.34 10.33 66.39 9.37 8.88 -0.48 9.92 3.75 6.16
PAT Growth(%) 4.62 30.74 5.99 13.75 58.74 6.94 11.92 -3.9 20.86 0.36 7.16
EPS Growth(%) 4.31 29.43 6.1 13.95 56.62 7.12 12.98 -3.93 20.68 1.3 6.73
Debt/Equity(x) 0.24 0.07 0.02 0.03 0.03 0.03 0.03 0.03 0.04 0.04 0.05
Current Ratio(x) 1.48 1.6 1.85 1.74 2.35 3.07 2.73 2.75 2.33 1.44 1.73
Quick Ratio(x) 0.97 1.02 1.18 1.07 1.67 2.36 2.07 2.04 1.75 0.94 1
Interest Cover(x) 15.08 38.49 38.49 44.34 86.97 90.61 88.44 52.46 44.74 41.89 39.35
Total Debt/Mcap(x) 0.04 0.01 0 0 0 0 0 0 0 0 0

Pidilite Inds. Shareholding Pattern

# Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
Promoter 70.19 70.16 70.13 69.99 69.98 69.94 69.94 69.94 69.94 69.94
FII 11.39 11.88 12.08 11.78 11.66 11.57 11.13 11.34 11.08 10.61
DII 8.25 7.59 7.15 7.3 7.48 7.3 7.48 7.74 8.12 8.46
Public 10.18 10.37 10.64 10.94 10.88 11.19 11.45 10.98 10.86 10.99
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 23%
  • Debtor days have improved from 87.98 to 68.92days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 18.6 times its book value.
  • The company has delivered a poor profit growth of 6% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Pidilite Inds. News