India's Pidilite posts higher quarterly profit on strong demand; announces bonus issue
The company's consolidated net profit rose to 6.72 billion rupees ($76.7 million) for the three months ended June 30 from 5.67 billion rupees in the year-ago quarter.
Analysts noted that demand has been recovering in the adhesives segment and is likely to improve further, along with prices, in the near term.
Easing input costs and steady consumption trends could support margin expansion and topline growth in the coming quarters, they added.
Pidilite, known for brands such as adhesive Fevicol and sealant Dr. Fixit, reported a 10.5% rise in first-quarter revenue to 37.53 billion rupees.
Revenue in the consumer and bazaar segment, which accounts for about 80% of Pidilite's overall sales, grew 9.7%.
The company said it remains cautiously optimistic as domestic conditions improve, supported by a good monsoon, steady demand, especially in the construction sector, lower interest rates, and recent liquidity measures.
However, it continues to monitor geopolitical risks that could disrupt supply chains and global trade.
The company also announced the issue of one bonus equity share for every share held by shareholders, along with a special interim dividend of 10 rupees per share.
($1 = 87.6400 Indian rupees)
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