# Pidilite share price today (Pidilite Industries Ltd, NSE: PIDILITIND)

> Pidilite share price today: ₹1,510.20 at the NSE close on 4 November 2026, up 3.8% in a year. Pidilite Industries (NSE: PIDILITIND) is worth ₹1,53,778 crore, trades at a P/E of 57.3 and has closed between ₹1,273.60 and ₹1,693.00 over the past 52 weeks. > Pidilite Industries Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 24% of past readings. PIDILITIND · Speciality Chemicals · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/pidilite-industries-ltd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹1,510.20 (+3.8% in a year)
- P/E: 57.3× (lower than 76% of the last 11 years)
- Revenue (Sep 2026): ₹4,298 Cr (+20.9% on a year ago)
- Profit (Sep 2026): ₹626 Cr (+7.0% on a year ago)
- Operating margin: 20.0% (−4.0 points on a year ago)
- ROCE: 31%, FY26
- ROIC: 33.7%, against a 12.0% cost of capital: +21.7 points

Biggest thing to watch: margins are the best this company has ever reported. Every ratio looks better at a record, so the story depends on margins staying high. ## What is the Pidilite share price today? Pidilite Industries Ltd's share price was ₹1,510.20 at the close on 4 November 2026. It has been rising for 19 weeks. That is 0.7% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,274 and ₹1,693, and at that close it sat 56% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 2 weeks running. Over the last 11 years the share price moved +400% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 23 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Pidilite this quarter? Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), profit up on a year earlier for 12 quarters in a row (every quarter we can compare) and operating margin down 4 points on a year earlier. 1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹4,298 crore, +20.9% on a year earlier. Why: Revenue rose because the company sold more in both its consumer and business markets. Next results: check how much of the growth comes from cities versus villages and across both business lines. From the earnings call on 29 Oct 2026. 2. Profit up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter profit was ₹626 crore, +7% on a year earlier. 3. Operating margin down 4 points on a year earlier 20% in the September 2026 quarter, from 24%. Why: Operating margin fell because costs were much higher in the quarter, and early price rebates added to the cost. Next results: check whether the operating margin moves toward the top of the company's 20% to 24% range. From the earnings call on 29 Oct 2026. ## What are Pidilite's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Pidilite reported revenue of ₹4,298 crore, up 20.9% from ₹3,554 crore a year earlier, and a profit of ₹626 crore, up 7.0% from ₹585 crore. ### Pidilite results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹4,298 crore | ₹3,554 crore | +20.9% |
| Profit | ₹626 crore | ₹585 crore | +7.0% |
| Earnings per share | ₹6.03 | ₹5.69 | +6.0% |
| Operating margin | 20.0% | 24.0% | −4.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Pidilite's management discussed these results on a call held on 29 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Pidilite share price history? Pidilite closed at ₹1,510.20 on 4 November 2026, up 3.8% from ₹1,454.80 a year earlier (7 November 2025) and up 25.4% over five years. Its highest weekly close since March 2016 was ₹1,693.00 on 14 August 2026. ### Pidilite share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹1,461.60 | +3.3% |
| 1 month ago · 1 Oct 2026 | ₹1,464.00 | +3.2% |
| 6 months ago · 8 May 2026 | ₹1,476.00 | +2.3% |
| 1 year ago · 7 Nov 2025 | ₹1,454.80 | +3.8% |
| 3 years ago · 3 Nov 2023 | ₹1,227.75 | +23.0% |
| 5 years ago · 4 Nov 2021 | ₹1,204.00 | +25.4% |
| 10 years ago · 4 Nov 2016 | ₹347.10 | +335.1% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹302.18 | +399.8% |
| Highest weekly close since March 2016, also the 52-week high · 14 Aug 2026 | ₹1,693.00 | −10.8% |
| Lowest weekly close since March 2016 · 23 Dec 2016 | ₹293.50 | +414.5% |
| 52-week low (weekly close) · 2 Apr 2026 | ₹1,273.60 | +18.6% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (562 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on Pidilite? 4 Nov 2026: Pidilite closed at ₹1,510.20, up 3.3% on the week and up 3.2% on the month. 29 Oct 2026: Pidilite held its results call for July to September 2026. Management guided: Q3 very confident, H2 quite confident to keep operating profit within 20-24% corridor, ideally higher end. ### Earlier

- Results for July to September 2026: Revenue up 20.9% and profit up 7.0% on a year earlier. - 23 Jul 2026: ex-date for a dividend of ₹11.50 a share. - 23 Sep 2025: Bonus issue: 1 new share for every 1 held (ex-date). ## What dividend does Pidilite pay? Pidilite paid ₹11.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.76% at the ₹1,510.20 close on 4 November 2026. The last was a dividend of ₹11.50 a share, ex-date 23 July 2026. ### Pidilite dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 23 Jul 2026 | ₹11.50 | Dividend | same day |
| 13 Aug 2025 | ₹10 | Special | same day |
| 23 Jul 2025 | ₹20 | Dividend | same day |
| 24 Jul 2024 | ₹16 | Dividend | same day |
| 27 Jul 2023 | ₹11 | Dividend | same day |
| 26 Jul 2022 | ₹10 | Dividend | 27 Jul 2022 |
| 27 Jul 2021 | ₹8.50 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Pidilite Industries Ltd paid out 48% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Pidilite management say on the latest results call? On the call for July to September 2026, held on 29 October 2026, Pidilite's management guided: Q3 very confident, H2 quite confident to keep operating profit within 20-24% corridor, ideally higher end. > “Our mantra is profitable underlying volume growth. We are not here to chase volume in order to deliver any particular volume number. The growth has to be profitable volume.”
> Kavinder, on the call for July to September 2026

### What management guided

- Double-digit UVG near term to continue, ambition to lift toward early teens over medium term. - Follow-on price increase late Q3 or early next quarter depending on cost development. - Fevicol Multi-Loc and Expert pilot to national rollout in November. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/248-29-Oct-2026.pdf). (From the call for July to September 2026, 29 October 2026.)

## What is Pidilite's order book? Nina order book fundamentals healthy; project waterproofing category growing faster than retail segment. ✓ fact

(Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Pidilite story? What are the risks? Two consecutive quarters of operating 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. ### Each change stops working if

- : Cement-to-tile-adhesive conversion slows materially or MYK Laticrete regains project-site specification share at scale across the categories Roff leads. - : Consumer and Bazaar UVG falls below 10%, preventing operating leverage from activating in the face of input cost pressure, the 22% operating profit floor would then require price increases that risk demand compression. - : Nina order book converts below 50% in July to September 2026, signaling the metro site restrictions caused demand destruction rather than deferral. - : Rural-urban growth premium narrows to zero for two consecutive quarters, indicating the geography-led volume lever is exhausted. ### The main risks

- : July to September 2026 margin will unwind Q1's inventory timing benefit, higher-cost VAM purchased at $1,370 versus $924 last year will flow through consumption. ✓ fact
- : B2B export recovery guidance missed again, Feb 2026 call projected mid-teens B2B growth return, April to June 2026 showed exports still declining at -8.4%. ✓ fact
- : Operating margin corridor floor raised silently from 20-24% to 22-24% in an inflation environment, four concalls in, the structural basis has not been disclosed. ✓ fact

(Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in Pidilite's next results? When Pidilite reports October to December 2026, these are the 2 checks that show whether the story is still on course. First: H2 margin tilt toward top of flagged corridor on October pricing - check Q3 print against flagged tilt. - What to check (from the call)
- H2 margin tilt toward top of flagged corridor on October pricing - check Q3 print against flagged tilt. - Flagged follow-on pricing materializing if cost elevation persists - check announcement timing, volume resilience and margin flow-through. ## Which stock lists is Pidilite on? Pidilite is not on any of our India lists this week. ## Is Pidilite profitable? Pidilite Industries Ltd earned ₹626 Cr of net profit in the Sep 2026 quarter, +7.0% on the same quarter a year earlier. That is the 12th quarter in a row of profit growth. Full-year FY26 profit was ₹2,471 Cr. Over 10 years profit has grown 11.8% a year on average. That is 14.6% of the quarter's revenue. The same quarter a year earlier earned ₹585 Cr. For the full year, FY26 profit was ₹2,471 Cr (+17.9% on the year before). Why profit moved: revenue changed +20.9% on a year earlier and the margin moved −4.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +21.4% and revenue +16.6%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY27-Q1. revenue ₹4,552 Cr and profit ₹884 Cr as reported. FY27-Q2. revenue ₹4,298 Cr and profit ₹626 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much revenue does Pidilite make, and is it growing? Pidilite Industries Ltd reported ₹4,298 Cr of revenue in the Sep 2026 quarter, +20.9% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 10.5% a year on average. The last full year, FY26, came in at ₹14,601 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. 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. The last four reported quarters add to ₹16,143 Cr. FY26 revenue was ₹14,601 Cr, +11.1% on the year before. Recent pace: the last four quarters grew +16.6% on average, against 10.5% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +16.8%, against +12.9% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +20.9%, against +18.8% a year (stabilising). FY27-Q1. revenue ₹4,552 Cr and profit ₹884 Cr as reported. FY27-Q2. revenue ₹4,298 Cr and profit ₹626 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Pidilite keep? Pidilite Industries Ltd's operating margin was 20.0% in the Sep 2026 quarter, 4.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 16.0% and 24.0%. The latest quarter is within that range. 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). Why the margin moved: operating margin changed −3.5 percentage points on the year while gross margin changed −6.5 points. So the drop came mostly from the gross margin, which means input costs and prices charged. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. FY27-Q1. revenue ₹4,552 Cr and profit ₹884 Cr as reported. FY27-Q2. revenue ₹4,298 Cr and profit ₹626 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## Is Pidilite's profit turning into cash? Over the last 3 years, 124% of Pidilite Industries Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹2,828 Cr of operating cash against ₹2,471 Cr of profit. After ₹664 Cr of spending on assets, ₹2,164 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 124% of profit came in as cash: the cash cycle got 25 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 1.7× depreciation over three years. The next section checks what that spending is building. ## Where does Pidilite's cash go? Pidilite Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 66 days in FY26, down from 91 days in FY21. It spent ₹1,877 Cr on assets over the last 3 years. Customers take 55 days to pay, and stock sits for 98 days on average. At FY26 sales of ₹14,601 Cr, each day of that cycle ties up about ₹40.0 Cr, so roughly ₹2,640 Cr is tied up in the business at any time. FY26: customers took 55 days to pay and stock sat for 98 days, about 3.2 months of sales sitting as stock, for a full cycle of 66 days, shorter than FY21's 91. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 98 days. Customers pay about 55 days after that. Suppliers are paid at 86 days. Together that makes the 66-day cycle. Spending on assets: ₹1,877 Cr over the last 3 years, against ₹1,094 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹329 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Pidilite's P/E ratio, and how does it compare with its own history? Pidilite Industries Ltd's P/E is 57.3×, near the low end of its own history: it has been lower only 24% of the time. Its usual P/E (the middle reading) is 69.6×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +17.9% while the price moved +3.8%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +4.6% a year; about +15.1% a year came from earnings growth and about −10.5 percentage points from the multiple (the market paying less); over 10 years the price moved +15.8% a year; about +12.0% a year came from earnings growth and about +3.8 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Pidilite share price assume? Worked out from its price on 23 August 2026, Pidilite Industries Ltd's share price assumed profit growth of about 29.7% a year. Over the past 10 years its profit actually grew 11.8% a year. Today its P/E is 57.3×, lower than 76% of its own last 11 years. This is a one-day reading, taken on 23 August 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Pidilite business getting better or worse? Pidilite Industries Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 32.5%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the Pidilite story, and has it been checked? Pidilite Industries Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: Not stated in the research file. Our read, 22 August 2026. From the numbers. EPS expanded from 12.52 in FY23 to 24.06 in FY26, a 92% increase (see…

From the price. Price stage 2, week 19, below its 200-day line, relative strength falling. From the research. Where they disagree. EPS expanded from 12.52 in FY23 to 24.06 in FY26, a 92% increase (see C033). 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. 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. What the surface reading misses. The stock appears lower 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 Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Pidilite management deliver what it promised? What Pidilite Industries Ltd's management promised, against what actually happened: 4 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 shareholders 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. ## What is Pidilite management's track record? No company-specific SEBI, CBI, ED, fraud or material penalty surfaced; a small GST order is treated under regulatory risk. 0% Promoter shares pledged

Sources:

- [alphastreet.com](https://alphastreet.com/india/pidilite-industries-ltd-pidilitind-q4-fy22-earnings-concall-transcript/)
- [jmfinancialservices.in](https://www.jmfinancialservices.in/company-information/pidilite-industries-ltd)
- [trendlyne.com](https://trendlyne.com/equity/share-holding/1037/PIDILITIND/latest/pidilite-industries-ltd)

(Checked 30 August 2026.)

## How much does Pidilite earn on its capital? Pidilite Industries Ltd earned a ROCE of 31% in FY26. That is up from a low of 24% in FY23. Its return on capital used (ROIC) is 21.7 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 16.9% net margin and 0.95× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 16.9% net margin × 0.95× asset turnover × 1.42× leverage (assets divided by equity) ≈ 22.8% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 33.7% − 12.0% = +21.7 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. ## Does Pidilite have too much debt? Pidilite Industries Ltd has total debt of ₹351 Cr against shareholder equity of ₹11,429 Cr as of Sep 2026, so its debt is 0.03× its equity, which is very little. Year by year, that ratio went from 0.06 in FY22 to 0.04 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Pidilite shareholding pattern? No group of Pidilite Industries Ltd's owners changed its stake by a full percentage point over the last two years. Promoters moved −0.4 points over the same period, to 69.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: +0.5 points over 8 quarters, to 12.4%; Promoters: −0.4 points over 8 quarters, to 69.2%; Domestic institutions: +0.3 points over 8 quarters, to 9.2%. ## How far is Pidilite from balance-sheet trouble? For Pidilite Industries Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Pidilite rank in its industry? 52.8 out of 100, rank 13 of 30 in Speciality Chemicals, with 100% of the evidence available. Pidilite Industries Ltd scores 52.8 out of 100 against the 30 companies it is compared with in Speciality Chemicals, ranking 13. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 17.6 + 20.1 + 7.1 + 8 = 52.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Pidilite compared with? Pidilite ranks 13 of 30 Speciality Chemicals companies on the 4-Factor Sector Score, with 52.8 out of 100. 1. [Panama Petrochem Ltd](https://www.sectoralpha.in/stocks/panama-petrochem-ltd) PANAMAPET · turning · Sector-leading setup · 96% evidence 82.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.8/35 · Revenue 45.9% · Profit 100% · Operating margin change 14 points · 88% evidence Capital efficiency 17.6/25 · ROCE 19.2% · Operating margin 22% · 100% evidence Valuation 19.7/20 · P/E 5.7× · PEG 0.18 · 100% evidence Relative strength 13.9/20 · Lead over its industry 16.3% · Lead over NIFTY 500 31.3% · 1 year 68.1% · 100% evidence · 10 of 12 weeks ahead Exact sum: 30.8 + 17.6 + 19.7 + 13.9 = 82 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Yasho Industries Ltd](https://www.sectoralpha.in/stocks/yasho-industries-ltd) YASHO · losing its lead · Most evidence points up · 78% evidence 67.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.0/35 · Revenue 54.2% · Profit 100% · Operating margin change 3 points · 100% evidence Capital efficiency 12.3/25 · ROCE 8.9% · Operating margin 21% · 100% evidence Valuation 12.7/20 · P/E 45× · PEG 1.02 · 65% evidence Relative strength 12.2/20 · Lead over its industry n/a · Lead over NIFTY 500 41.1% · 1 year 103.4% · 25% evidence · 11 of 12 weeks ahead Exact sum: 30 + 12.3 + 12.7 + 12.2 = 67.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Vikram Thermo (India) Ltd](https://www.sectoralpha.in/stocks/vikram-thermo-indialtd) breaking out · Evidence leans up · 68% evidence 64.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.8/35 · Revenue 16.9% · Profit 41.9% · Operating margin change 8 points · 83% evidence Capital efficiency 21.1/25 · ROCE 36.2% · Operating margin 48% · 95% evidence Valuation 6.6/20 · P/E 25.8× · PEG n/a · 50% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 74.5% · 1 year n/a · 25% evidence · 12 of 12 weeks ahead Exact sum: 23.8 + 21.1 + 6.6 + 12.5 = 64 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. [Sunshield Chemicals Ltd](https://www.sectoralpha.in/stocks/sunshield-chemicals-ltd) SUNSHIEL · quiet · Evidence leans up · 81% evidence 63.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.6/35 · Revenue 12.9% · Profit 100% · Operating margin change 5 points · 88% evidence Capital efficiency 18.6/25 · ROCE 19.9% · Operating margin 16% · 100% evidence Valuation 10.8/20 · P/E 24.3× · PEG 2.21 · 100% evidence Relative strength 10.8/20 · Lead over its industry n/a · Lead over NIFTY 500 4.3% · 1 year -4% · 25% evidence · 0 of 5 weeks ahead Exact sum: 23.6 + 18.6 + 10.8 + 10.8 = 63.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Black Rose Industries Ltd](https://www.sectoralpha.in/stocks/black-rose-industries-ltd) BLACKROSE · quiet · Evidence leans up · 81% evidence 60.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.6/35 · Revenue 8.6% · Profit 28.6% · Operating margin change 6 points · 88% evidence Capital efficiency 16.3/25 · ROCE 18.7% · Operating margin 16% · 100% evidence Valuation 10.0/20 · P/E 17.1× · PEG 4.96 · 100% evidence Relative strength 10.9/20 · Lead over its industry n/a · Lead over NIFTY 500 4.4% · 1 year n/a · 25% evidence · 7 of 12 weeks ahead Exact sum: 23.6 + 16.3 + 10 + 10.9 = 60.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Tatva Chintan Pharma Chem Ltd](https://www.sectoralpha.in/stocks/tatva-chintan-pharma-chem-ltd) TATVA · losing its lead · Evidence leans up · 93% evidence 59.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.7/35 · Revenue 49.2% · Profit 100% · Operating margin change 1 points · 100% evidence Capital efficiency 8.5/25 · ROCE 7.2% · Operating margin 19% · 100% evidence Valuation 11.3/20 · P/E 60.2× · PEG 1.21 · 65% evidence Relative strength 11.4/20 · Lead over its industry 7.8% · Lead over NIFTY 500 23.3% · 1 year 15.6% · 100% evidence · 10 of 12 weeks ahead Exact sum: 28.7 + 8.5 + 11.3 + 11.4 = 59.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Aether Industries Ltd](https://www.sectoralpha.in/stocks/aether-industries-ltd) AETHER · leader · Evidence leans up · 90% evidence 59.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.4/35 · Revenue 30.2% · Profit 28.4% · Operating margin change 1 points · 100% evidence Capital efficiency 12.7/25 · ROCE 11.9% · Operating margin 32% · 100% evidence Valuation 9.7/20 · P/E 85.1× · PEG n/a · 50% evidence Relative strength 14.8/20 · Lead over its industry 22.3% · Lead over NIFTY 500 38.6% · 1 year 114.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.4 + 12.7 + 9.7 + 14.8 = 59.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Privi Speciality Chemicals Ltd](https://www.sectoralpha.in/stocks/privi-speciality-chemicals-ltd) PRIVISCL · quiet · Evidence leans up · 82% evidence 59.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.7/35 · Revenue 17.5% · Profit 44.5% · Operating margin change -1 points · 95% evidence Capital efficiency 18.5/25 · ROCE 22.3% · Operating margin 26% · 76% evidence Valuation 10.1/20 · P/E 33.7× · PEG n/a · 50% evidence Relative strength 7.1/20 · Lead over its industry -9.7% · Lead over NIFTY 500 4.2% · 1 year 10.5% · 100% evidence · 2 of 12 weeks ahead Exact sum: 23.7 + 18.5 + 10.1 + 7.1 = 59.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Fineotex Chemical Ltd](https://www.sectoralpha.in/stocks/fineotex-chemical-ltd) FCL · leader · Evidence leans up · 96% evidence 59.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.3/35 · Revenue 91.5% · Profit 41% · Operating margin change -2 points · 88% evidence Capital efficiency 13.6/25 · ROCE 18.3% · Operating margin 16% · 100% evidence Valuation 5.7/20 · P/E 46.1× · PEG 1.92 · 100% evidence Relative strength 19.5/20 · Lead over its industry 34.1% · Lead over NIFTY 500 48.9% · 1 year 62.9% · 100% evidence · 12 of 12 weeks ahead Exact sum: 20.3 + 13.6 + 5.7 + 19.5 = 59.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [DMCC Speciality Chemicals Ltd](https://www.sectoralpha.in/stocks/dmcc-speciality-chemicals-ltd) DMCC · quiet · Evidence leans up · 93% evidence 55.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 72.1% · Profit 34.5% · Operating margin change -6.9 points · 100% evidence Capital efficiency 8.6/25 · ROCE 14.8% · Operating margin 4.2% · 100% evidence Valuation 16.1/20 · P/E 16.9× · PEG 0.44 · 65% evidence Relative strength 7.8/20 · Lead over its industry -12.3% · Lead over NIFTY 500 0.9% · 1 year -15.5% · 100% evidence · 9 of 12 weeks ahead Exact sum: 22.9 + 8.6 + 16.1 + 7.8 = 55.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Aarti Industries Ltd](https://www.sectoralpha.in/stocks/aarti-industries-ltd) AARTIIND · quiet · Evidence leans up · 100% evidence 55.1 out of 100 Growth Capital Valuation Relative
12. [Galaxy Surfactants Ltd](https://www.sectoralpha.in/stocks/galaxy-surfactants-ltd) GALAXYSURF · leader · Evidence leans up · 81% evidence 53.7 out of 100 Growth Capital Valuation Relative
13. Pidilite Industries Ltd this page PIDILITIND · quiet · Evidence leans up · 100% evidence 52.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.6/35 · Revenue 16.8% · Profit 20.9% · Operating margin change -4 points · 100% evidence Capital efficiency 20.1/25 · ROCE 31% · Operating margin 20% · 100% evidence Valuation 7.1/20 · P/E 55.5× · PEG 2.88 · 100% evidence Relative strength 8.0/20 · Lead over its industry -11.2% · Lead over NIFTY 500 2.8% · 1 year 1.2% · 100% evidence · 4 of 12 weeks ahead Exact sum: 17.6 + 20.1 + 7.1 + 8 = 52.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 14. [DIC India Ltd](https://www.sectoralpha.in/stocks/dic-india-ltd) DICIND · breaking out · Evidence leans up · 81% evidence 52.8 out of 100 Growth Capital Valuation Relative
15. [Neogen Chemicals Ltd](https://www.sectoralpha.in/stocks/neogen-chemicals-ltd) NEOGEN · leader · Evidence leans up · 90% evidence 51.7 out of 100 Growth Capital Valuation Relative
16. [Kronox Lab Sciences Ltd](https://www.sectoralpha.in/stocks/kronox-lab-sciences-ltd) KRONOX · breaking out · Evidence leans up · 74% evidence 51.6 out of 100 Growth Capital Valuation Relative
17. [Chemcon Speciality Chemicals Ltd](https://www.sectoralpha.in/stocks/chemcon-speciality-chemicals-ltd) CHEMCON · breaking out · Evidence leans up · 85% evidence 50.9 out of 100 Growth Capital Valuation Relative
18. [Grauer & Weil (India) Ltd](https://www.sectoralpha.in/stocks/grauer-weil-indialtd) GRAUWEIL · breaking out · Evidence leans down · 96% evidence 46.3 out of 100 Growth Capital Valuation Relative
19. [Paushak Ltd](https://www.sectoralpha.in/stocks/paushak-ltd) PAUSHAKLTD · losing its lead · Evidence leans down · 85% evidence 45.6 out of 100 Growth Capital Valuation Relative
20. [Alkyl Amines Chemicals Ltd](https://www.sectoralpha.in/stocks/alkyl-amines-chemicals-ltd) ALKYLAMINE · quiet · Evidence leans down · 96% evidence 45.5 out of 100 Growth Capital Valuation Relative
21. [Platinum Industries Ltd](https://www.sectoralpha.in/stocks/platinum-industries-ltd) PLATIND · turning · Evidence leans down · 81% evidence 45.5 out of 100 Growth Capital Valuation Relative
22. [Innovassynth Technologies (India) Ltd](https://www.sectoralpha.in/stocks/innovassynth-technologies-indialtd) breaking out · Too little evidence to rank firmly · 53% evidence 44.0 out of 100 Growth Capital Valuation Relative
23. [Anupam Rasayan India Ltd](https://www.sectoralpha.in/stocks/anupam-rasayan-india-ltd) ANURAS · turning · Evidence leans down · 78% evidence 43.7 out of 100 Growth Capital Valuation Relative
24. [Vinati Organics Ltd](https://www.sectoralpha.in/stocks/vinati-organics-ltd) VINATIORGA · quiet · Evidence leans down · 82% evidence 42.4 out of 100 Growth Capital Valuation Relative
25. [Amines & Plasticizers Ltd](https://www.sectoralpha.in/stocks/amines-plasticizers-ltd) AMNPLST · quiet · Evidence leans down · 81% evidence 42.3 out of 100 Growth Capital Valuation Relative
26. [Amal Ltd](https://www.sectoralpha.in/stocks/amal-ltd) AMAL · quiet · Evidence leans down · 68% evidence 41.3 out of 100 Growth Capital Valuation Relative
27. [Transpek Industry Ltd](https://www.sectoralpha.in/stocks/transpek-industry-ltd) TRANSPEK · losing its lead · Evidence leans down · 63% evidence 38.6 out of 100 Growth Capital Valuation Relative
28. [Vishnu Chemicals Ltd](https://www.sectoralpha.in/stocks/vishnu-chemicals-ltd) VISHNU · losing its lead · Evidence leans down · 100% evidence 38.2 out of 100 Growth Capital Valuation Relative
29. [Clean Science & Technology Ltd](https://www.sectoralpha.in/stocks/clean-science-technology-ltd) CLEAN · breaking out · Evidence leans down · 85% evidence 38.1 out of 100 Growth Capital Valuation Relative
30. [Thirumalai Chemicals Ltd](https://www.sectoralpha.in/stocks/thirumalai-chemicals-ltd) TIRUMALCHM · quiet · Most evidence points down · 68% evidence 27.4 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Speciality Chemicals](https://www.sectoralpha.in/sectors/speciality-chemicals), all 30 compared on one page. ## Which companies are close to Pidilite in size? Pidilite is the largest of 30 Speciality Chemicals companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Aether Industries, Aarti Industries, Anupam Rasayan India, Privi Speciality Chemicals, Vinati Organics and Alkyl Amines Chemicals. ### Speciality Chemicals companies close in size

1. Pidilite Industries Ltd ₹1,48,870 crore
2. [Aether Industries Ltd](https://www.sectoralpha.in/stocks/aether-industries-ltd) ₹21,452 crore
3. [Aarti Industries Ltd](https://www.sectoralpha.in/stocks/aarti-industries-ltd) ₹15,806 crore
4. [Anupam Rasayan India Ltd](https://www.sectoralpha.in/stocks/anupam-rasayan-india-ltd) ₹13,019 crore
5. [Privi Speciality Chemicals Ltd](https://www.sectoralpha.in/stocks/privi-speciality-chemicals-ltd) ₹12,571 crore
6. [Vinati Organics Ltd](https://www.sectoralpha.in/stocks/vinati-organics-ltd) ₹10,286 crore
7. [Alkyl Amines Chemicals Ltd](https://www.sectoralpha.in/stocks/alkyl-amines-chemicals-ltd) ₹8,132 crore

[All 30 Speciality Chemicals companies, largest first](https://www.sectoralpha.in/sectors/speciality-chemicals#all-companies)

### Companies close in size in other industries

1. [Trent Ltd](https://www.sectoralpha.in/stocks/trent-ltd) ₹1,60,892 crore · Textiles - Readymade Apparel
2. [Hyundai Motor India Ltd](https://www.sectoralpha.in/stocks/hyundai-motor-india-ltd) ₹1,55,277 crore · Auto - 4 Wheelers
3. Pidilite Industries Ltd ₹1,48,870 crore
4. [Tata Motors Ltd](https://www.sectoralpha.in/stocks/tata-motors-ltd) ₹1,45,969 crore · Auto & Auto Ancl - CV
5. [BSE Ltd](https://www.sectoralpha.in/stocks/bse-ltd) ₹1,43,184 crore · Exchanges

## What else do people ask about Pidilite? ### What is Pidilite's share price today? Pidilite Industries Ltd's share price is ₹1,510.20, +3.8% over the past year. The whole company is worth ₹1,53,778 Cr on the market. In the last 52 weeks it traded between ₹1,274 to ₹1,693; today it is 56% of the way up from the low, 0.7% below its 200-day average (as of 4 November 2026). ### What were Pidilite's latest quarterly results? Pidilite Industries Ltd reported revenue of ₹4,298 Cr and net profit of ₹626 Cr for the Sep 2026 quarter. Revenue rose 20.9% and profit rose 7.0% compared with a year earlier. Earnings per share were ₹6.03. The operating margin was 20.0%, 4.0 percentage points lower than a year earlier (as of 4 November 2026). ### What is Pidilite's market cap? Pidilite Industries Ltd's market capitalisation is ₹1,53,778 Cr at a share price of ₹1,510.20. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Pidilite performing? Pidilite Industries Ltd's share price has been rising for 19 weeks. In its latest quarter, revenue rose 20.9% and profit rose 7.0% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 2 weeks running (as of 4 November 2026). ### Will Pidilite's share price go up? This page does not forecast Pidilite Industries Ltd's share price. What it shows instead: the share price is ₹1,510.20, and it has been rising for 19 weeks. Its P/E of 57.3× is higher than 24% of its own last 11 years (as of 4 November 2026). ### Does Pidilite have too much debt? No, Pidilite Industries Ltd has little debt: its debt is 0.04× its equity, and its operating profit is 65 times its interest bill. FY26 borrowings were ₹417 Cr against equity of ₹10,832 Cr. So the returns on this page come from the business, not borrowed money (as of 4 November 2026). ### Where is Pidilite in its business cycle? Pidilite Industries Ltd's FY26 operating margin was 24.0%, against a 13-year range of 16.0% to 24.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 20.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Pidilite story? Biggest thing to watch: margins are the best this company has ever reported. Every ratio looks better at a record, so the story depends on margins staying high. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Pidilite a stock worth studying right now? What the numbers show: Pidilite Industries Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 24% of past readings. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Pidilite share price forecast for 2026? What management itself guided: Q3 very confident, H2 quite confident to keep operating profit within 20-24% corridor, ideally higher end. What would change the story: Two consecutive quarters of operating 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. ### Where does this page get Pidilite's management information? From Pidilite's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. This is research, not advice. We’re not SEBI-registered.