Pidilite Industries

Pidilite Industries Limited is a multinational adhesives manufacturing company. The Mumbai-based company is one of the largest producers and suppliers of adhesives globally.

Pidilite provides a wide range of products such as industrial resins, polymers, adhesives, sealants, waterproofing solutions, building chemicals, and arts and crafts supplies.

Founded in 1959 by Balvantray Kalyanji Parekh, Pidilite has major manufacturing facilities in Mahad (Maharashtra), Vapi (Gujarat), Baddi and Kala Amb (both in Himachal Pradesh).

The company established its first modern manufacturing plant in Mumbai. Currently, the building houses the corporate head office of the company. The firm was incorporated as a private limited company in 1990.

Pidilite’s global presence encompasses exports of over 500 products annually to more than 71 countries. The company has eight manufacturing facilities in India and abroad. The company has presence in Sri Lanka, Nepal, Bangladesh, the United Arab Emirates, Egypt, Singapore, the United States, European countries and African nations.

Pidilite Industries went public with the launch of its initial public offering (IPO) in 1993 and subsequently it was listed on the National Stock Exchange (NSE) and BSE. Pidilite Industries’ market capitalisation stood at ₹1.34 lakh crore as of December 19, 2023. Pidilite share price has surged nearly 53% in the last 3 years.

Business operations

Pidilite Industries is primarily focused on adhesives and related products for both home and industry uses. Over the years, the company has also diversified its product portfolio to sealants, waterproofing solutions, construction chemicals, industrial resins and polymers The company has emerged as a market leader in the adhesives segment.

The popular brands of the company include:

Fevicol:

This is Pidilite’s flagship brand, renowned for its synthetic resin adhesive. An iconic brand, Fevicol has become synonymous with household adhesives in India. The brand’s product line has transformed the carpentry trade across the country. This was the first product launched by the company in 1959.

Dr. Fixit:

Another key offering, it provides solutions for waterproofing homes.

Fevicol MR:

The go-to adhesive for crafts, Fevicol MR is favoured for its ease of application. It bonds various substrates like cardboard, paper, polystyrene and wood.

Fevikwik:

An instant adhesive, it caters to both industrial and home usage, working within seconds to repair broken items, regardless of the material.

M-Seal:

This epoxy putty is perfect for sealing, joining, fixing and building. Fevistik: It is a hassle-free and easy-to-use glue stick.

Financial highlights

• The company’s total income stood at ₹11841.71 crore in FY 23 compared to ₹9957.23 crore in FY22. • Consolidated profit for FY 2022-23 stood at ₹1,288.87 crore compared to ₹1,206.76 crore. • Net sales for FY23 stood at ₹11,752 crore, up 19% compared to the preceding financial year. • The company’s EBITDA increased 7% year-on-year to ₹1,984 crore in FY23 compared to FY22. • Pidilite Industries’ earnings per share increased to ₹25.05 in FY23 as against ₹23.76 in the preceding financial year.