Pidilite Industries Ltd
PIDILITINDPidilite Industries Ltd is coiled. The quarters are improving, yet the P/E sits at the 28th percentile of its own 11-year range — the business is moving before the market.
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding.
The price is in a confirmed uptrend (12 weeks in) while the P/E sits at the 28th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +30.4% year on year, and 124% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Pidilite Industries Ltd trades at ₹1,567, in a confirmed uptrend and 12 weeks into that stage. That is +2.4% against its own 200-day average. It sits at 70% of a 52-week range of ₹1,274 to ₹1,693. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 20 straight weeks.
Today the stock is in a confirmed uptrend — week 12 of stage 2, confirmed. At ₹1,567 it trades +2.4% versus its 200-day average and sits at 70% of its 52-week range (₹1,274–₹1,693).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +419% while the NIFTY 500 moved +267% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 20 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Pidilite Industries Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: Not stated in the research file. Our fortnightly research layers last read it on 22 August 2026.
Our read, 22 August 2026. India's dominant adhesives and construction-chemicals franchise — PE contracting from over 100x to 63x over 3 years even as EPS expanded from 12.52 to 24.06 — Q1 FY27 delivered 26% OPM and 30% PAT growth, but management warned Q2 will unwind as higher-cost inventory enters consumption.
From the numbers. The PE contraction from peak over 100x in September 2022 to current levels over more than three years represents a substantial drawdown from peak. EPS expanded from 12.52 in FY23 to 24.06 in FY26 — a 92% increase (see…
From the price. Price stage 2, week 12 — above its 200-day line, relative strength rising.
From the research. India's dominant adhesives and construction-chemicals franchise — PE contracting from over 100x to 63x over 3 years even as EPS expanded from 12.52 to 24.06 — Q1 FY27 delivered 26% OPM and 30% PAT growth, but management…
🚨 Where they disagree. The PE contraction from peak over 100x in September 2022 to current levels over more than three years represents a substantial drawdown from peak. EPS expanded from 12.52 in FY23 to 24.06 in FY26 — a 92% increase (see C033). The normalized PE verdict from the deterministic ground truth is FAIRLY_PRICED: trailing PE at the 39th percentile, normalized PE at the 58th percentile after adjusting for OPM being above mid-cycle normal. The operating cycle is at mid-expansion stage with a rising-mid cyclicality flag — margins are above normalized but not at peak.
What is proven. India's dominant adhesives and construction-chemicals franchise — PE contracting from over 100x to 63x over 3 years even as EPS expanded from 12.52 to 24.06 — Q1 FY27 delivered 26% OPM and 30% PAT growth, but management warned Q2 will unwind as higher-cost inventory enters consumption.
What is not proven yet. Two consecutive quarters of EBITDA margin below 22% — the guided floor management has twice reaffirmed — combined with Consumer and Bazaar UVG falling below 9%, which would indicate that raw material cost inflation is compressing volumes rather than being absorbed through pricing and operating leverage. This would break both the margin corridor thesis and the volume acceleration thesis simultaneously.
🚨 What would change our mind. Two consecutive quarters of EBITDA margin below 22% — the guided floor management has twice reaffirmed — combined with Consumer and Bazaar UVG falling below 9%, which would indicate that raw material cost inflation is compressing volumes rather than being absorbed through pricing and operating leverage. This would break both the margin corridor thesis and the volume acceleration thesis simultaneously.
Layer 1 read, 22 August 2026 — KEEP. Earnings have outrun the share price for three years - but the company has told us the margin drops next quarter. Profit compounded from Rs 1,747 Cr in FY24 to Rs 2,471 Cr in FY26 while the multiple fell from the 70s to 63 times, so the market has been paying less for each rupee of a growing profit; the June quarter extended it with revenue up 21.3% and profit up 30.4%, and I verified that gain is operating - other income was only 9% of pre-tax profit and the tax rate did not move. The evidence the business is genuinely strong is the volume number: Consumer and Bazaar volumes grew 12.2% even after 4-5% price increases, and cash conversion runs at 1.24 times reported profit. What holds it at second tier is that management said on the August call that the June margin included a cheap-inventory benefit…
What would change Layer 1’s mind. The timeline's kill-switch is two consecutive quarters of EBITDA margin below 22% together with Consumer and Bazaar volume growth under 9%. Sharpened for this verdict: the single observation is the Q2 FY27 margin print. Above 22% and the price increases have absorbed the higher-cost raw material - the compression thesis holds and this becomes a P1 candidate. Below 22% and it confirms the silently raised floor was a framing choice rather than a structural improvement, which would break both the…
Layer 2 read, 22 August 2026 — ADVANCE. Domestic demand still works, but Q2 must prove higher raw-material costs can be passed through. Consumer and Bazaar volume held despite price increases, while the sector's June recovery was broad. External work also confirms the danger: management says the inventory benefit will unravel, so ADVANCE depends on the next-quarter cost reset staying above the thesis floor.
What would change Layer 2’s mind. DROP if the Q2 cost reset starts two consecutive quarters with EBITDA margin below 22% and Consumer and Bazaar volume growth below 9%; ADVANCE strengthens if pricing absorbs VAM without that volume break.
Layer 3 read, 22 August 2026 — BENCH. Demand is holding, but management has already told us the next quarter's margin will fall. The web sweep and Timeline R1 agree that higher VAM costs are now entering consumption. Domestic volume resisted price increases, but export recovery missed again, so management credibility is not strong enough to deploy this P2 before Q2.
What would change Layer 3’s mind. A Q2 FY27 result with EBITDA margin at or above 22% and Consumer and Bazaar volume growth at or above 10% would show pricing absorbed higher-cost VAM and flip BENCH to DEPLOY.
🚨 What the surface reading misses. The surface reading is: 63.4x PE at the 32nd percentile — below median, looks moderately priced on trailing earnings The research reads it further: Normalized PE is 76.7x at the 58th percentile after adjusting for OPM being 10.8% above mid-cycle normal (23.2% current versus 20.9% normalized). The FAIRLY_PRICED verdict from the deterministic ground truth holds on normalized basis — surface and normalized reads agree, no major inversion. The stock appears cheaper on trailing earnings than it truly is once current above-average margins are normalized.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Pidilite Industries Ltd reported ₹4,552 Cr of revenue in the Jun 26 quarter, +21.3% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 10.5% a year. The last full year, FY26, came in at ₹14,601 Cr. The last four reported quarters add to ₹15,399 Cr.
Why this happened. The tile-adhesive category is growing at above 2x GDP pace. Roff commands near-leadership in retail and is gaining in projects. The Q1 FY27 concall noted Roff momentum accelerating through plant expansion, consistent quality, automation, and total delivered-cost management. Mass media investment through Big Boss and cricket sponsorships expanded contractor and consumer awareness. Roff NeoPro premium variant via the Grupo Puma JV addresses the flooring segment. Tile-adhesive penetration was described as 25-30% — Pidilite is gaining share, with growth around 1.5x-2x market growth in some categories.
FY26 revenue came in at ₹14,601 Cr (+11.1% on the year), capping 10 years at 10.5% compound. The latest quarter (Jun 26) printed ₹4,552 Cr, +21.3% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +13.9% growth against the decade's 10.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +14.1% over the last 4 quarters against +11.0%/yr over the last 8 — accelerating; TTM profit +21.5% vs +20.5%/yr — stabilising.
FY26-Q4. revenue ₹3,583 Cr and profit ₹584 Cr as reported.
FY27-Q1. revenue ₹4,552 Cr and profit ₹884 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Pidilite Industries Ltd's operating margin is 26.0% in the Jun 26 quarter, +1.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 16.0% to 24.0%. The current quarter is running above every full year in that window.
Why this happened. Management explicitly linked margin defence to volume growth: operating leverage was the second leg of Q4 FY26's 280 bps EBITDA expansion. The West India Premium White Glue and Fevicol plant commissioned in Q1 FY27 adds incremental capacity for the adhesives core. Costs below gross margin rose 14.5% in Q1 FY27 — slower than revenue growth of 22.2% — confirming operating leverage is active. CWIP rose from 129 Cr to 329 Cr in FY26 consistent with this commissioning (see C022).
The latest quarter's operating margin is 26.0%, +1.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 16.0%–24.0%, and FY26's 24.0% is the top of that band — a record year.
Why the margin moved: operating margin went +1.2 pp year on year while gross margin went −0.7 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
FY26-Q4. revenue ₹3,583 Cr and profit ₹584 Cr as reported.
FY27-Q1. revenue ₹4,552 Cr and profit ₹884 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Pidilite Industries Ltd earned ₹884 Cr of net profit in the Jun 26 quarter, +30.4% year on year. It is the 12th consecutive quarter of growth. Full-year FY26 profit was ₹2,471 Cr. The 10-year compound rate is 11.8%. That is 19.4% of the quarter's revenue. The same quarter a year earlier earned ₹678 Cr.
Jun 26 profit was ₹884 Cr, +30.4% year on year — the 12th consecutive quarter of growth. On the full year, FY26 printed ₹2,471 Cr (+17.9%), and the 10-year compound rate is 11.8%.
Why profit moved: revenue contributed +21.3% and the margin +1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +21.8% vs revenue +13.9%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
FY26-Q4. revenue ₹3,583 Cr and profit ₹584 Cr as reported.
FY27-Q1. revenue ₹4,552 Cr and profit ₹884 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 124% of Pidilite Industries Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹2,828 Cr of operating cash against ₹2,471 Cr of profit. After ₹664 Cr of capital spending, ₹2,164 Cr was left as free cash.
FY26: operating cash of ₹2,828 Cr against reported profit of ₹2,471 Cr, leaving free cash of ₹2,164 Cr after ₹664 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 124% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 124%: the cash cycle tightened 25 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 1.7× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Pidilite Industries Ltd's cash conversion cycle runs 66 days in FY26, down from 91 days in FY21. Capital spending ran ₹1,877 Cr over the last 3 years. At FY26 sales of ₹14,601 Cr each day of that cycle holds about ₹40.0 Cr, so roughly ₹2,640 Cr sits inside the business at any moment.
FY26: debtors at 55 days, inventory at 98 days — roughly 3.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 66 days, tighter than FY21's 91.
The full loop: cash goes out to suppliers and production on day 0; stock waits 98 days to sell; customers pay about 55 days after that; and suppliers themselves are paid at 86 days — netting out to the 66-day cycle.
In money terms: at FY26 sales of ₹14,601 Cr, each day of the cycle holds about ₹40.0 Cr — so the 66-day loop keeps roughly ₹2,640 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹1,877 Cr over the last 3 fiscal years against ₹1,094 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹329 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Pidilite Industries Ltd earns a ROCE of 31% in FY26. That is up from a trough of 24% in FY23. Return on invested capital clears the cost of that capital by +22.9 percentage points, so growth here adds value rather than only size. The wiring behind it is 16.9% net margin on 0.95× asset turns.
FY26 ROCE is 31%, recovered from a FY23 trough of 24% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 16.9% net margin × 0.95× asset turns × 1.42× balance-sheet leverage ≈ 22.8% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 34.9% − 12.0% = a +22.9 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Pidilite Industries Ltd carries total debt of ₹417 Cr against shareholder equity of ₹11,049 Cr as of Jun 26, a debt-to-equity of 0.04 — effectively unlevered. On the annual view that ratio went from 0.06 in FY22 to 0.04 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Jun 26: total debt of ₹417 Cr against shareholder equity of ₹11,049 Cr — a debt-to-equity of 0.04. On the annual view, debt-to-equity went from 0.06 (FY22) to 0.04 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Pidilite Industries Ltd moved a full percentage point over the last two years — the register is quiet. Promoters moved −0.5 points over the same window, to 69.2%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +0.8 points over 8 quarters to 9.8%; Promoters: −0.5 points over 8 quarters to 69.2%; Foreign institutions: +0.1 points over 8 quarters to 11.7%.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Pidilite Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Pidilite Industries Ltd trades at 60.2× P/E, near the bottom of its own range — cheaper only 28% of the time. Its long-run median P/E is 69.8×, measured across 10.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 60.2× is near the bottom of its own range — cheaper only 28% of the time, against a long-run median of 69.8× measured over 10.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
One caveat before moving on: margins are the best this company has ever printed — cheap against its own history on record margins is not the same thing as cheap. If profitability mean-reverts, today's multiple is higher than it looks.
Why the multiple sits where it does: over the past year annual EPS moved +17.9% against a +1.8% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +5.9%/yr price move, ~+14.8%/yr came from earnings growth and ~−8.9 pp from the multiple (compressing); over 10y, of the +16.0%/yr price move, ~+12.2%/yr came from earnings growth and ~+3.8 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 23 August 2026 price, Pidilite Industries Ltd was paying for profit growth of about 29.7% a year. Profit itself has compounded 11.8% a year over the past 10 years. Today the market pays 60.2× P/E, the 28th percentile of its own 11-year range.
What the two numbers say together. The multiple is low against its own past, and the growth the price is paying for is far above what this company has actually delivered. A multiple that looks low because earnings fell is not the same thing as a low bar to clear.
How to hold this number: it is a reading of one day's price, taken on 23 August 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Pidilite Industries Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 32.3% and holding. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +11.1% | +7.4% | +14.9% | +10.5% |
| Profit | +17.9% | +24.2% | +17.0% | +11.8% |
| EPS | +17.9% | +24.3% | +16.7% | +11.9% |
| Share price | +1.8% | +7.8% | +5.9% | +16.0% |
4-Factor Sector Score
56.7/100 — rank 9 of 28 in Speciality Chemicals · 100% evidence confidence
Pidilite Industries Ltd scores 56.7 out of 100 against the 28 companies it is compared with in Speciality Chemicals, ranking 9. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 22.6 + 20.6 + 7.9 + 5.6 = 56.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Pidilite Industries Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
🚨 Export Recovery Outlook Missed · 5 August 2026. In February 2026, management said a sharp export decline in Q4 and Q1 was unlikely and expected the B2B business to return to at least mid-teens growth. In August 2026, Q1 exports had still declined and B2B UVG was 7.3%, with management attributing the shortfall to geopolitical issues without explaining why the earlier recovery expectation failed.
EBITDA Margin Guidance Corridor Raised Without Explanation · 8 May 2026. Both prior calls, spanning Q1 FY26 and Q3 FY26, consistently and explicitly stated the EBITDA margin corridor as 20%-24%, with management directing investors to use this full-year corridor as the primary reference point. In the May 2026 call, management stated the corridor as 22%-24%, raising the lower bound by 200 basis points without explaining when this corridor changed or what structural improvement justified the revision. This inconsistency is compounded by the fact that the revision was made in the context of 40%-50% weighted average raw material inflation, an environment where margin guidance would typically face downward pressure rather than an upward floor adjustment.
Contradictory US Exposure Assessment · 4 February 2026. Management previously dismissed geopolitical risks by explicitly characterizing their direct exposure to the US as 'very small' and claiming robust preparedness. However, in the latest call, they attributed a material 13.5% decline in total exports specifically to the pigments business having 'direct exposure to the US,' which they now describe as a 'large component' of that segment. Earlier call (Aug 2025): “Our direct exposure to U.S. is very small. It is there but very small... I think form a supply chain point of view... we, in our preparedness, do not anticipate anything specific.” Later call (Feb 2026): “However, our pigment business has direct exposure to the US, which is a large component of our pigment exports. This segment was affected... Consequently, our exports in total declined by 13.5%.”
🚨 Broken Double-Digit Volume Promise · 4 February 2026. In the May 2025 call, management framed double-digit underlying volume growth (UVG) as a continuous 'treadmill' they were committed to delivering regardless of base effects. In the latest call, despite domestic strength, the company reported total UVG of 9.3% (falling to 9% overall), missing this long-standing guidance floor due to export drags. Earlier call (May 2025): “We have always said Abneesh, that we will deliver double digit profitable underlying volume growth... We are on this treadmill... that does not mean that FY26 should not be or will not be equally good.” Later call (Feb 2026): “This represents nominal growth of 11%, but the underlying volume growth was 9.3%... Consequently, our exports in total declined by 13.5%, which resulted in an overall underlying volume growth of 9%.”
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Panama Petrochem LtdPANAMAPET | 74.9/100Favorable setup100% evidence | LEADER | 28.1/35 Revenue 45.9% · PAT 100% · OPM change 14 pp 100% evidence | 14.9/25 ROCE 19.2% · OPM 22% 100% evidence | 15.4/20 P/E 6.1× · PEG 0.55 100% evidence | 16.5/20 RS sector 18.7% · RS bench 46.9% · 1Y 64.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 28.1 + 14.9 + 15.4 + 16.5 = 74.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Sunshield Chemicals Ltd530845 | 69.8/100Favorable setup76% evidence | FADING | 28.0/35 Revenue 12.9% · PAT 100% · OPM change 5 pp 95% evidence | 16.6/25 ROCE 19.9% · OPM 16% 76% evidence | 11.3/20 P/E 29.1× · PEG — 50% evidence | 13.9/20 RS sector 2.3% · RS bench 24.5% · 1Y 16.2%10 of 11 weeks ahead 70% evidence |
| Exact sum: 28 + 16.6 + 11.3 + 13.9 = 69.8 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3Vikram Thermo (India) Ltd530477 | 65.5/100Favorable setup67% evidence | BREAKING OUT | 25.5/35 Revenue 16.9% · PAT 41.9% · OPM change 8 pp 95% evidence | 19.8/25 ROCE 36.2% · OPM 48% 76% evidence | 7.9/20 P/E 24.3× · PEG — 50% evidence | 12.3/20 RS sector — · RS bench 83.6% · 1Y —10 of 10 weeks ahead 25% evidence |
| Exact sum: 25.5 + 19.8 + 7.9 + 12.3 = 65.5 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 4Black Rose Industries LtdBLACKROSE | 64.2/100Mixed-positive evidence72% evidence | BREAKING OUT | 22.0/35 Revenue 8.6% · PAT 28.6% · OPM change 6 pp 95% evidence | 17.1/25 ROCE 18.7% · OPM 16% 95% evidence | 14.5/20 P/E 19.2× · PEG — 50% evidence | 10.6/20 RS sector — · RS bench 11.6% · 1Y —4 of 6 weeks ahead 25% evidence |
| Exact sum: 22 + 17.1 + 14.5 + 10.6 = 64.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Yasho Industries LtdYASHO | 62.9/100Mixed-positive evidence87% evidence | BREAKING OUT | 29.3/35 Revenue 34.1% · PAT 100% · OPM change 7 pp 100% evidence | 8.6/25 ROCE 8.9% · OPM 24% 100% evidence | 12.0/20 P/E 87.6× · PEG 1.15 65% evidence | 13.0/20 RS sector -2.4% · RS bench 102% · 1Y 131.1%11 of 11 weeks ahead 70% evidence |
| Exact sum: 29.3 + 8.6 + 12 + 13 = 62.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Privi Speciality Chemicals LtdPRIVISCL | 59.9/100Mixed-positive evidence75% evidence | FADING | 25.0/35 Revenue 21.6% · PAT 62.1% · OPM change -1 pp 95% evidence | 17.9/25 ROCE 22.3% · OPM 23% 76% evidence | 9.5/20 P/E 39.7× · PEG — 15% evidence | 7.5/20 RS sector -8.1% · RS bench 15.3% · 1Y 55.8%7 of 12 weeks ahead 100% evidence |
| Exact sum: 25 + 17.9 + 9.5 + 7.5 = 59.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Aether Industries LtdAETHER | 58.4/100Mixed-positive evidence100% evidence | BREAKING OUT | 24.4/35 Revenue 34.4% · PAT 34.3% · OPM change -1 pp 100% evidence | 10.7/25 ROCE 11.9% · OPM 31% 100% evidence | 4.2/20 P/E 92.6× · PEG 8.9 100% evidence | 19.1/20 RS sector 23.6% · RS bench 53.6% · 1Y 125.8%11 of 12 weeks ahead 100% evidence |
| Exact sum: 24.4 + 10.7 + 4.2 + 19.1 = 58.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8DMCC Speciality Chemicals LtdDMCC | 56.8/100Mixed-positive evidence80% evidence | TURNING | 24.4/35 Revenue 49.7% · PAT 42.9% · OPM change 0 pp 95% evidence | 11.0/25 ROCE 14.8% · OPM 13% 95% evidence | 11.4/20 P/E 17.9× · PEG — 15% evidence | 10.0/20 RS sector -12.3% · RS bench 10% · 1Y -6.5%6 of 12 weeks ahead 100% evidence |
| Exact sum: 24.4 + 11 + 11.4 + 10 = 56.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Pidilite Industries Ltdthis pagePIDILITIND | 56.7/100Mixed-positive evidence100% evidence | FADING | 22.6/35 Revenue 14.1% · PAT 21.5% · OPM change 1 pp 100% evidence | 20.6/25 ROCE 31% · OPM 26% 100% evidence | 7.9/20 P/E 60.2× · PEG 3.8 100% evidence | 5.6/20 RS sector -15.4% · RS bench 6.4% · 1Y 1.3%11 of 12 weeks ahead 100% evidence |
| Exact sum: 22.6 + 20.6 + 7.9 + 5.6 = 56.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Tatva Chintan Pharma Chem LtdTATVA | 56.0/100Mixed-positive evidence93% evidence | BREAKING OUT | 30.4/35 Revenue 41.1% · PAT 100% · OPM change 4 pp 100% evidence | 6.5/25 ROCE 7.2% · OPM 19% 100% evidence | 4.7/20 P/E 71.8× · PEG 5.63 65% evidence | 14.4/20 RS sector -1.5% · RS bench 23.3% · 1Y 61.3%11 of 12 weeks ahead 100% evidence |
| Exact sum: 30.4 + 6.5 + 4.7 + 14.4 = 56 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Fineotex Chemical LtdFCL | 54.0/100Mixed-positive evidence100% evidence | LEADER | 18.4/35 Revenue 91.5% · PAT 41% · OPM change -2 pp 100% evidence | 12.7/25 ROCE 18.3% · OPM 16% 100% evidence | 3.0/20 P/E 54.9× · PEG 4.19 100% evidence | 19.9/20 RS sector 58% · RS bench 94.1% · 1Y 143.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 18.4 + 12.7 + 3 + 19.9 = 54 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Aarti Industries LtdAARTIIND | 53.5/100Mixed-positive evidence100% evidence | BREAKING OUT | 27.7/35 Revenue 27% · PAT 100% · OPM change 3 pp 100% evidence | 8.3/25 ROCE 6.9% · OPM 16% 100% evidence | 9.0/20 P/E 34.2× · PEG 2.05 100% evidence | 8.5/20 RS sector -8.2% · RS bench 15.1% · 1Y 30.8%8 of 12 weeks ahead 100% evidence |
| Exact sum: 27.7 + 8.3 + 9 + 8.5 = 53.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Kronox Lab Sciences LtdKRONOX | 53.3/100Mixed-positive evidence65% evidence | BREAKING OUT | 9.4/35 Revenue 6.1% · PAT 11.6% · OPM change -1.1 pp 95% evidence | 21.6/25 ROCE 36% · OPM 31.7% 95% evidence | 10.8/20 P/E 22.8× · PEG — 15% evidence | 11.5/20 RS sector — · RS bench 24.8% · 1Y —5 of 5 weeks ahead 25% evidence |
| Exact sum: 9.4 + 21.6 + 10.8 + 11.5 = 53.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Chemcon Speciality Chemicals LtdCHEMCON | 51.1/100Mixed-positive evidence81% evidence | TURNING | 21.0/35 Revenue 16.7% · PAT 12% · OPM change 8 pp 95% evidence | 10.7/25 ROCE 6.3% · OPM 23% 95% evidence | 12.1/20 P/E 28.2× · PEG — 50% evidence | 7.3/20 RS sector -21.7% · RS bench 13.7% · 1Y 4.3%6 of 10 weeks ahead 70% evidence |
| Exact sum: 21 + 10.7 + 12.1 + 7.3 = 51.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Vishnu Chemicals LtdVISHNU | 47.7/100Mixed-negative evidence100% evidence | BREAKING OUT | 15.5/35 Revenue 16.5% · PAT 17.2% · OPM change -1 pp 100% evidence | 11.3/25 ROCE 16.4% · OPM 15% 100% evidence | 5.6/20 P/E 32.1× · PEG 2.82 100% evidence | 15.3/20 RS sector 4.7% · RS bench 31.2% · 1Y 48.7%7 of 12 weeks ahead 100% evidence |
| Exact sum: 15.5 + 11.3 + 5.6 + 15.3 = 47.7 · Decision use: Price leads the evidence: RS versus the benchmark is 31.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 16Galaxy Surfactants LtdGALAXYSURF | 47.3/100Mixed-negative evidence94% evidence | BREAKING OUT | 19.5/35 Revenue 27% · PAT 15.7% · OPM change 4 pp 100% evidence | 9.4/25 ROCE 13.5% · OPM 14% 100% evidence | 9.6/20 P/E 21.3× · PEG 4.39 100% evidence | 8.8/20 RS sector -12.1% · RS bench 11.3% · 1Y -6.7%8 of 10 weeks ahead 70% evidence |
| Exact sum: 19.5 + 9.4 + 9.6 + 8.8 = 47.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Alkyl Amines Chemicals LtdALKYLAMINE | 46.8/100Mixed-negative evidence100% evidence | FADING | 18.4/35 Revenue 5.1% · PAT 21% · OPM change 6 pp 100% evidence | 15.6/25 ROCE 16.6% · OPM 25% 100% evidence | 5.6/20 P/E 42.4× · PEG 5.37 100% evidence | 7.2/20 RS sector -10.8% · RS bench 11.6% · 1Y -9.9%11 of 12 weeks ahead 100% evidence |
| Exact sum: 18.4 + 15.6 + 5.6 + 7.2 = 46.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Vinati Organics LtdVINATIORGA | 44.4/100Mixed-negative evidence82% evidence | TURNING | 11.2/35 Revenue 5.1% · PAT 5.7% · OPM change -5 pp 95% evidence | 17.5/25 ROCE 19.8% · OPM 24% 76% evidence | 13.4/20 P/E 29.9× · PEG — 50% evidence | 2.3/20 RS sector -28.7% · RS bench -9.8% · 1Y -23.9%0 of 12 weeks ahead 100% evidence |
| Exact sum: 11.2 + 17.5 + 13.4 + 2.3 = 44.4 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 19Amal LtdAMAL | 43.0/100Mixed-negative evidence69% evidence | 8.0/35 Revenue 79% · PAT -23.1% · OPM change -7 pp 95% evidence | 16.4/25 ROCE 26% · OPM 18% 76% evidence | 10.0/20 P/E 30.7× · PEG — 15% evidence | 8.6/20 RS sector -18.2% · RS bench 15.4% · 1Y -20%0 of 12 weeks ahead 70% evidence | |
| Exact sum: 8 + 16.4 + 10 + 8.6 = 43 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20Platinum Industries LtdPLATIND | 42.5/100Mixed-negative evidence74% evidence | BASING | 12.8/35 Revenue 9.6% · PAT 6.5% · OPM change -1 pp 95% evidence | 12.3/25 ROCE 15.7% · OPM 12% 95% evidence | 10.6/20 P/E 23.9× · PEG — 15% evidence | 6.8/20 RS sector -10.6% · RS bench -6.1% · 1Y -22.8%0 of 10 weeks ahead 70% evidence |
| Exact sum: 12.8 + 12.3 + 10.6 + 6.8 = 42.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21Grauer & Weil (India) LtdGRAUWEIL | 41.5/100Mixed-negative evidence100% evidence | TURNING | 10.4/35 Revenue 10.1% · PAT 6.6% · OPM change -5 pp 100% evidence | 16.1/25 ROCE 20.6% · OPM 16% 100% evidence | 8.2/20 P/E 21.4× · PEG 4.01 100% evidence | 6.8/20 RS sector -17.8% · RS bench 3.4% · 1Y -18.5%6 of 12 weeks ahead 100% evidence |
| Exact sum: 10.4 + 16.1 + 8.2 + 6.8 = 41.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22Anupam Rasayan India LtdANURAS | 41.5/100Mixed-negative evidence82% evidence | ASLEEP | 20.0/35 Revenue 51.7% · PAT 14.8% · OPM change -1 pp 95% evidence | 10.5/25 ROCE 7.4% · OPM 25% 76% evidence | 8.3/20 P/E 79.5× · PEG — 50% evidence | 2.7/20 RS sector -21.7% · RS bench -1% · 1Y 9.8%0 of 12 weeks ahead 100% evidence |
| Exact sum: 20 + 10.5 + 8.3 + 2.7 = 41.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Neogen Chemicals LtdNEOGEN | 40.5/100Mixed-negative evidence90% evidence | LEADER | 14.7/35 Revenue 18.1% · PAT 6.1% · OPM change 2 pp 100% evidence | 6.7/25 ROCE 6.5% · OPM 19% 100% evidence | 5.2/20 P/E 183× · PEG — 50% evidence | 13.9/20 RS sector 22.9% · RS bench 52% · 1Y 59.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 14.7 + 6.7 + 5.2 + 13.9 = 40.5 · Decision use: Price leads the evidence: RS versus the benchmark is 52%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 24Paushak LtdPAUSHAKLTD | 37.0/100Mixed-negative evidence81% evidence | BREAKING OUT | 11.9/35 Revenue 15.4% · PAT -15.7% · OPM change -1 pp 95% evidence | 10.0/25 ROCE 8.3% · OPM 31% 95% evidence | 7.5/20 P/E 42.4× · PEG — 50% evidence | 7.6/20 RS sector -27.5% · RS bench 28% · 1Y -4.6%11 of 11 weeks ahead 70% evidence |
| Exact sum: 11.9 + 10 + 7.5 + 7.6 = 37 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 25Clean Science & Technology LtdCLEAN | 36.3/100Mixed-negative evidence94% evidence | BREAKING OUT | 4.5/35 Revenue -0.4% · PAT -13.8% · OPM change -5 pp 100% evidence | 18.5/25 ROCE 20.7% · OPM 36% 100% evidence | 7.8/20 P/E 38.4× · PEG 6.24 100% evidence | 5.5/20 RS sector -24.4% · RS bench 1.4% · 1Y -29.2%2 of 10 weeks ahead 70% evidence |
| Exact sum: 4.5 + 18.5 + 7.8 + 5.5 = 36.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 26Amines & Plasticizers LtdAMNPLST | 35.5/100Mixed-negative evidence81% evidence | ASLEEP | 7.8/35 Revenue -12.4% · PAT -3% · OPM change 0.7 pp 95% evidence | 14.0/25 ROCE 16.7% · OPM 9.9% 95% evidence | 8.8/20 P/E 23.6× · PEG — 50% evidence | 4.9/20 RS sector -19.4% · RS bench -9.2% · 1Y -27.6%5 of 10 weeks ahead 70% evidence |
| Exact sum: 7.8 + 14 + 8.8 + 4.9 = 35.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 27Transpek Industry LtdTRANSPEK | 34.5/100Adverse evidence81% evidence | TURNING | 6.4/35 Revenue -5.2% · PAT -29.1% · OPM change -2.3 pp 95% evidence | 9.1/25 ROCE 8.4% · OPM 13.3% 95% evidence | 11.3/20 P/E 19.3× · PEG — 50% evidence | 7.7/20 RS sector -19.7% · RS bench 11.7% · 1Y -4.7%4 of 10 weeks ahead 70% evidence |
| Exact sum: 6.4 + 9.1 + 11.3 + 7.7 = 34.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 28Thirumalai Chemicals LtdTIRUMALCHM | 25.9/100Adverse evidence69% evidence | BASING | 13.1/35 Revenue -5.8% · PAT -36.9% · OPM change 12 pp 71% evidence | 1.1/25 ROCE -3.1% · OPM 6% 95% evidence | 10.0/20 P/E — · PEG — 0% evidence | 1.7/20 RS sector -39.8% · RS bench -23.6% · 1Y -49%0 of 12 weeks ahead 100% evidence |
| Exact sum: 13.1 + 1.1 + 10 + 1.7 = 25.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Pidilite Industries Ltd's share price today?
Pidilite Industries Ltd trades at ₹1,567, +1.8% over the past year. The company is valued at ₹1,59,492 Cr. The stock sits at 70% of its 52-week range of ₹1,274–₹1,693, +2.4% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 12 weeks in. — as of 11 September 2026.
What were Pidilite Industries Ltd's latest quarterly results?
Pidilite Industries Ltd reported revenue of ₹4,552 Cr and net profit of ₹884 Cr for the Jun 26 quarter. Revenue rose 21.3% and profit rose 30.4% year on year. Earnings per share were ₹8.57. The operating margin was 26.0%, 1.0 pp higher than a year earlier. — as of 11 September 2026.
What is Pidilite Industries Ltd's revenue?
Pidilite Industries Ltd reported revenue of ₹4,552 Cr in the Jun 26 quarter, +21.3% year on year. For the full FY26 fiscal year, revenue was ₹14,601 Cr (+11.1%). Over the last 10 years revenue compounded at 10.5% a year. — as of 11 September 2026.
What is Pidilite Industries Ltd's profit?
Pidilite Industries Ltd earned ₹884 Cr of net profit in the Jun 26 quarter, +30.4% year on year — the 12th straight quarter of growth. Full-year FY26 profit was ₹2,471 Cr. The operating margin ran 26.0% in the latest quarter. — as of 11 September 2026.
What is Pidilite Industries Ltd's market cap?
Pidilite Industries Ltd's market capitalisation is ₹1,59,492 Cr at a share price of ₹1,567. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Pidilite Industries Ltd's P/E ratio?
Pidilite Industries Ltd trades at a P/E of 60.2×, at the 28th percentile of its own 11-year range, against a long-run median of 69.8×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Pidilite Industries Ltd pay a dividend?
Yes — Pidilite Industries Ltd's dividend payout was 48% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Pidilite Industries Ltd overvalued?
On its own history, Pidilite Industries Ltd looks cheap: its P/E of 60.2× has been cheaper only 28% of the time in 11 years (long-run median 69.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 11 September 2026.
Is Pidilite Industries Ltd growing?
Yes — Pidilite Industries Ltd is growing: latest-quarter revenue +21.3% year on year, profit +30.4%, and the margin +1.0 pp at 26.0%. The 10-year compound rates are 10.5% (revenue) and 11.8% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Pidilite Industries Ltd performing?
Pidilite Industries Ltd is in a confirmed uptrend, 12 weeks in. Its latest quarter's revenue rose 21.3% and profit rose 30.4% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 20 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is Pidilite Industries Ltd in?
Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 32.3% and holding. The read comes from the last 12 quarters of growth (revenue growth +14.1% latest, profit growth +21.5% latest, eps growth +21.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Pidilite Industries Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 12 of stage 2), trading +2.4% versus its 200-day average and at 70% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Pidilite Industries Ltd beating the market?
On recent form, yes — Pidilite Industries Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 20 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +419% against the NIFTY 500's +267% — ahead of the index over the full window. — as of 11 September 2026.
Will Pidilite Industries Ltd's share price go up?
This page publishes no price forecast for Pidilite Industries Ltd. What it measures instead: the share price is ₹1,567, the price is in a confirmed uptrend 12 weeks in. Its P/E of 60.2× sits at the 28th percentile of its own 11-year range. — as of 11 September 2026.
Who owns Pidilite Industries Ltd?
Promoters hold 69.2% of Pidilite Industries Ltd, foreign institutions 11.7%, domestic institutions 9.8% and the public 9.2% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.
Does Pidilite Industries Ltd have too much debt?
No — Pidilite Industries Ltd's debt-to-equity is 0.04, and operating profit covers the interest bill 65×. FY26 borrowings were ₹417 Cr against equity of ₹10,832 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Pidilite Industries Ltd's capex?
Pidilite Industries Ltd spent ₹1,877 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹664 Cr, with ₹329 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Pidilite Industries Ltd's cash flow?
Pidilite Industries Ltd generated ₹2,828 Cr of operating cash flow in FY26 and ₹2,164 Cr of free cash flow after ₹664 Cr of capital spending. Reported profit that year was ₹2,471 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Pidilite Industries Ltd's profit real cash?
Yes — over the last 3 fiscal years, 124% of Pidilite Industries Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹2,828 Cr against reported profit of ₹2,471 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Pidilite Industries Ltd in its business cycle?
Pidilite Industries Ltd's FY26 operating margin was 24.0%, against a 13-year band of 16.0%–24.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 26.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Pidilite Industries Ltd's price assume?
At its price on 23 August 2026, Pidilite Industries Ltd was priced for profit growth of about 29.7% a year. Profit itself has compounded 11.8% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Pidilite Industries Ltd story?
Biggest watch item: margins are the best this company has ever printed — every ratio flatters at record profitability, so the whole story leans on margins holding. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Pidilite Industries Ltd a stock worth studying right now?
This is not investment advice. The machine read: Pidilite Industries Ltd is coiled. The quarters are improving, yet the P/E sits at the 28th percentile of its own 11-year range — the business is moving before the market. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!