Pidilite Industries delivers strong Q3 FY26, beats Street estimates

Pidilite Industries has reported a robust financial performance for the third quarter of FY26, reinforcing its position as a leading player in India’s consumer and industrial adhesives space. The company recorded a strong rise in profitability and revenue, comfortably beating Street estimates amid steady demand across key product categories.

For the quarter ended December 2025, Pidilite’s net profit increased by 11.9 per cent year-on-year to approximately Rs 624 crore, compared with about Rs 557 crore in the corresponding period last year. The performance came in above market expectations, reflecting the company’s ability to sustain growth despite a challenging operating environment.

Revenue from operations during the quarter grew by 10.1 per cent to nearly Rs 3,710 crore, aided by healthy volume growth and improved product mix. The company’s operating performance also remained strong, with EBITDA rising 12 per cent year-on-year to around Rs 894 crore. Operating margins improved to 24.1 per cent from 23.7 per cent a year earlier, indicating better cost management and operating leverage.

Management highlighted that the quarter saw double-digit revenue growth backed by strong underlying volumes, particularly in the consumer and project-linked segments. The company noted that domestic demand conditions are expected to improve further, supported by favourable monsoons and the continued impact of GST-related formalisation on consumption patterns.

Pidilite also pointed to the positive outlook arising from increased infrastructure spending and urbanisation initiatives announced in the Union Budget, which are expected to support demand for construction chemicals, adhesives and related products. At the same time, the company said it remains watchful of geopolitical developments that could disrupt global supply chains or impact raw material availability.

On the business front, the B2B segment posted modest growth during the quarter, while the project business continued to maintain its growth momentum. However, export revenues from industrial products were impacted by slower pigment exports, reflecting softer global demand trends.

Overall, Pidilite’s Q3 FY26 performance underlines its ability to deliver consistent growth, maintain healthy margins and capitalise on improving domestic market conditions, positioning the company well for the coming quarters.