Pidilite Industries earnings calls.

Pidilite Industries delivered a strong Q3 FY26Current reported value: strong Q3 FY26. No comparable prior figure is available in the source record. with standalone revenue of INR 3,425 croreCurrent reported value: INR 3,425 crore. No comparable prior figure is available in the source record., up 11%Current 11% vs previous available quarter 10.6%. YoY driven by 9.3% underlying volume growthCurrent reported value: 9.3% underlying volume growth. No comparable prior figure is available in the source record.. Domestic business momentum remained robust at 11% UVG, marking the second consecutive quarter above 11%, with consumer & bazaar growing 9.7% and B2B delivering 7.4%. The primary drag was exports, which declined 13.5% due to geopolitical headwinds affecting the pigments business. Gross margins expanded ~200bps on benign VAM prices (~$830/ton vs $884 YoY), though a one-time provision of INR 47 crore for the new wage code offset some gains. Despite stepping up A&SP spend, EBITDA margin improved 24Current 24 crore vs previous available quarter 25.6 crore.bps to 24.5%Current 24.5%. Reported change: +24bps YoY.. PAT grew 12.5Current reported value: 12.5. No comparable prior figure is available in the source record.%. Management targets the 20%-24% EBITDA corridor over full year while reinvesting margin gains into brand building. Key growth brands—Roff, Dr. Fixit—are accelerating, with tile adhesive category growing ~18-20%Current 18-20%. Reported change: +1800-2000bps YoY.. The main risk is export recovery timing; management expects improvement as new tariff frameworks crystallize.