Pidilite Industries shares gain 4% after stellar Q4 results beat street estimates across parameters

Shares of Pidilite Industries Ltd. gained nearly 4% in early trade on Friday, May 8, after the company reported a stellar set of fourth quarter earnings as it beat Street estimates across parameters.Its profit after tax (PAT) increased 37% ₹584.2 crore from the previous year’s ₹427.5 crore. It was also above CNBC-TV18’s poll of ₹535 crore.

The company’s revenue of 14% higher at ₹3,585 crore compared to ₹3,141.1 crore last year and above Street estimates of ₹3,487 crore.
Pidilite Industries’ earnings before interest, tax, depreciation and amortisation (EBITDA) increased 32% to ₹833 crore from ₹633 crore last year and also surpassed Street estimates of ₹763 crore.
Its margins expanded to 23.2% from 20.1% in the year-ago period. The CNBC-TV18 poll had estimated margins to come in at 22%.Pidilite Industries’ consumer business grew by 15.4% compared to expectations of 9.5%-11.5%. Volumes n the B2B business grew by 14.8% from last year despite the external challenges.

The company said it expects domestic demand momentum to continue even as it manages the potential impact on input costs in the year-ahead.

Shares of Pidilite Industries were trading 3.4% up at ₹1,500 apiece just after market open on Friday. The stock has risen 10.7% in the past month.

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