PIDILITIND

Aug 6 (Reuters) - India's Pidilite Industries PIDI.NS reported an 18.6% jump in first-quarter profit on Wednesday on healthy demand for its adhesives and sealants.

The company's consolidated net profit rose to 6.72 billion rupees ($76.7 million) for the three months ended June 30 from 5.67 billion rupees in the year-ago quarter.

Analysts noted that demand has been recovering in the adhesives segment and is likely to improve further, along with prices, in the near term.

Easing input costs and steady consumption trends could support margin expansion and topline growth in the coming quarters, they added.

Pidilite, known for brands such as adhesive Fevicol and sealant Dr. Fixit, reported a 10.5% rise in first-quarter revenue to 37.53 billion rupees.

Revenue in the consumer and bazaar segment, which accounts for about 80% of Pidilite's overall sales, grew 9.7%.

The company said it remains cautiously optimistic as domestic conditions improve, supported by a good monsoon, steady demand, especially in the construction sector, lower interest rates, and recent liquidity measures.

However, it continues to monitor geopolitical risks that could disrupt supply chains and global trade.

The company also announced the issue of one bonus equity share for every share held by shareholders, along with a special interim dividend of 10 rupees per share.

($1 = 87.6400 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Janane Venkatraman)

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May 8 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• PIDILITE INDUSTRIES Q4 CONSOL NET PROFIT 4.22 BILLION RUPEES; IBES PROFIT EST. 4.41 BILLION RUPEES

• PIDILITE INDUSTRIES Q4 CONSOL REVENUE FROM OPERATIONS 31.41 BILLION RUPEES; IBES EST. 31.64 BILLION RUPEES

• PIDILITE INDUSTRIES LTD - DIVIDEND 20 RUPEES PER SHARE

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April 1 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• APPOINTS SUDHANSHU VATS AS MANAGING DIRECTOR

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Feb 7 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• RECEIVES TAX ORDER IMPOSING PENALTY OF 160.3 MILLION RUPEES

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Jan 22 (Reuters) - India's Pidilite Industries PIDI.NS on Wednesday reported third-quarter profit below estimates, due to weak urban and rural demand for adhesives and sealants.

The company reported a consolidated net profit of 5.52 billion rupees ($64 million) for the three months ended Dec. 31, compared to analysts' expectation of 5.91 billion rupees, according to data compiled by LSEG.

Construction-related demand remained subdued across India due to pollution restrictions, a lack of new infrastructure projects and delayed spending, analysts had noted.

The adhesives and sealants maker, known for brands such as Fevicol and Dr. Fixit, reported a 7.6% increase in revenue to 33.69 billion rupees, missing expectations of 33.99 billion rupees.

Revenue in the consumer and bazaar segment, which accounts for about 80% of Pidilite's revenue, grew 5.2%, while the business-to-business segment rose about 19%.

“Despite subdued demand across urban and rural geographies, we continued to make steady progress, with robust revenue and underlying volume growth and healthy levels of profitability," the company's Managing Director Bharat Puri said in an earnings release.

Pidilite's earnings before interest, taxes, depreciation, and amortization grew 8% from a year ago, while sales volumes rose 9.7%.

The company said it is cautiously optimistic on improved demand conditions as a result of the good monsoon and increased construction activities.

($1 = 86.3510 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Varun H K)

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Dec 30 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• PIDILITE INDUSTRIES LTD - RECEIVES ORDER IMPOSING PENALTY OF 11.6 MILLION RUPEES

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Oct 23 (Reuters) - India's Pidilite Industries PIDI.NS beat second-quarter profit estimates on Wednesday, helped by a slower rise in input costs.

Pidilite reported a consolidated net profit of 5.35 billion rupees ($63.7 million) in the quarter ended Sept. 30, up 18.8% from a year ago.

Analysts, on average, were expecting a profit of 5.29 billion rupees, as per estimates compiled by LSEG.

The adhesives and sealants maker, which has brands such as Fevicol and Dr. Fixit under its belt, reported a 5.2% rise in revenue to 32.35 billion rupees.

Total expenses rose 3.3% to 25.66 billion rupees with the cost of materials, which makes up more than half the expenses, rising 1.7%.

Prices of vinyl acetate monomer, a key raw material for adhesives, declined 11% during the quarter, Jefferies said in a pre-earnings note.

That, combined with a 7% rise in net consolidated sales, pushed up its bottom line.

Revenue in the consumer and bazaar segment, which accounts for almost 80% of Pidilite's topline, grew 2.9%, while revenue from its business-to-business segment rose 14.3%.

"Input prices remained benign, resulting in expansion of gross margin by 281 bps over the same quarter of the previous year," the company said in a statement.

Shares of Pidilite Industries closed 1.2% lower ahead of the results.

($1 = 84.0550 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman)

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Sept 27 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• PIDILITE INDUSTRIES - PIDILITE VENTURES INVESTS 50 MILLION RUPEES IN WIFY

• PIDILITE INDUSTRIES - PIDILITE VENTURES INVESTS IN HOME IMPROVEMENT, MAINTENANCE PLATFORM

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BENGALURU, Aug 7 (Reuters) - India's Pidilite Industries PIDI.NS beat first-quarter profit estimates on Wednesday, helped by steady demand for its adhesives and sealants and largely flat costs.

Pidilite reported a consolidated net profit of 5.67 billion rupees ($67.4 million) in the April-June quarter, up 21% from a year ago. Analysts were expecting a profit of 5.32 billion rupees, as per LSEG data.

The adhesives maker notched a 3% sales growth in its biggest segment - consumer and bazaar - which consists of the Fevicol adhesive and Dr. Fixit waterproofing products brands.

During the April-June quarter, India witnessed a booming manufacturing sector activity as output increased on robust demand.

This robust demand, particularly in the construction sector, led to heightened consumption of construction-related chemicals such as those made by Pidilite.

The company reported a revenue of 33.95 billion rupees, compared to 32.75 billion rupees a year ago, while total expenses were largely flat at 26.79 billion rupees.

Its earnings before interest, taxes, depreciation and amortization (EBITDA) margin grew by 15% over the same quarter year ago.

"Given a healthy monsoon and the ensuing festival season, we remain optimistic on market demand and our ability to deliver robust growth," Managing Director Bharat Puri said in an earnings statement.

Shares of Pidilite extended its gains, rising as much as 4.6% after the results.

($1 = 83.9575 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Varun H K)

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June 14 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• JV OF CO ENTERED AGREEMENT WITH INDUSTRIA CHIMICA ADRIATICA SPA FOR LICENSING OF CERTAIN UV TECHNOLOGY FROM ICA

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June 13 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• PARGRO WILL BE ACQUIRED THROUGH CO'S UNIT BHIMAD COMMERCIAL

• RBI HAS NOW GRANTED APPROVAL TO PARGRO FOR CHANGE IN SHAREHOLDING, CHANGE IN BOARD COMPOSITION OF PARGRO

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May 29 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• PIDILITE INDUSTRIES LTD - GETS ORDERS FROM ASSISTANT COMMISSIONER OF STATE TAX, MUMBAI IMPOSING TOTAL PENALTY OF 3.9 MILLION RUPEES

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BENGALURU, May 7 (Reuters) - India's Pidilite Industries PIDI.NS, which makes Fevicol adhesives and Dr. Fixit waterproofing products, posted a 6.2% jump in fourth-quarter profit on Tuesday, driven by lower input costs.

A healthy real estate sector and rising infrastructure creation are driving demand for construction chemical makers like Pidilite.

The company's consolidated net profit rose to 3.01 billion rupees ($36.07 million) in the quarter ending March 31, which is traditionally its weakest quarter, from 2.83 billion rupees a year earlier.

Its revenue increased 7.9% to 29.02 billion rupees, marking the sixth consecutive quarter of single-digit percentage growth.

Prices of vinyl acetate monomer, a key raw material for adhesives, have fallen steeply since last year, helping bring down the company's cost of materials consumed by 6.8% in the fourth quarter.

Sales rose 6.4% in its consumer and bazaar business segment, which houses the Fevicol and Dr. Fixit brands, and accounts for over 75% of the total revenue.

"While there may be short term softness in the environment in near term, we continue to remain optimistic about market demand in the medium term, with overall increase in construction activities, government spending," Pidilite Industries Managing Director Bharat Puri said in a statement.

The company's shares closed down 0.1% ahead of results.

($1 = 83.4593 Indian rupees)

(Reporting by Yagnoseni Das, Meenakshi Maidas in Bengaluru; Editing by Mrigank Dhaniwala)

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May 6 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• GOT TAX ORDER IMPOSING FINE OF 1 MILLION RUPEES

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March 28 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• PIDILITE INDUSTRIES - EXECUTED AGREEMENT WITH SOPREMA, BRAZIL TO DIVEST ITS ENTIRE SHAREHOLDING IN UNIT, (PULVITEC) IN BRAZIL

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March 21 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• GET 2 TAX PENALTIES OF 1.6 MILLION RUPEES EACH

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Feb 29 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• PIDILITE INDUSTRIES LTD - NAMES KAVINDER SINGH AS JOINT MANAGING DIRECTOR DESIGNATE

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Feb 15 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• RECEIVED AN ORDER FROM CUSTOMS DEPARTMENT IMPOSING A FINE OF 500,000 RUPEES AND PENALTY OF 3.3 MILLION RUPEES

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Feb 5 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• PIDILITE'S ROFF EXPANDS FOOTPRINT WITH LAUNCH OF NEW FACTORY IN UTTAR PRADESH

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Jan 23 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• CONTINUE TO REMAIN OPTIMISTIC ABOUT MARKET DEMAND IN NEAR TERM

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Jan 15 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• PARTNERSHIP WITH ITALY-BASED SYN-BIOS

• PARTNERSHIP TO EXPAND SUPPLY OF ADVANCED LEATHER CHEMICALS

• CO WILL HANDLE SALES AND DISTRIBUTION OF SYN-BIOS PRODUCTS IN INDIA, SRI LANKA, BANGLADESH, NEPAL, AND VIETNAM

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Nov 30 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• GOT ORDER FROM TAX AUTHORITIES IMPOSING PENALTY OF 539,116 RUPEES

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Nov 24 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• TAX AUTHORITY IMPOSES PENALTY OF 3.5 MILLION RUPEES

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BENGALURU, Nov 8 (Reuters) - India's Pidilite Industries PIDI.NS on Wednesday posted a jump in second-quarter profit on the back of lower costs, and said it would enter the lending business.

The Fevicol-maker posted a consolidated net profit of 4.5 billion rupees ($54.1 million) for the quarter ended Sept. 30, up over 35% from last year.

Profit growth was helped by an over-50% decline in prices of vinyl acetate monomer (VAM), a key raw material for adhesives, which analysts said helped adhesive makers keep costs under control.

Pidilite's expenses fell nearly 4%, while revenue grew 2.2%.

The company, which commands a lion's share of India's adhesive market, acquired Pargro Investments for 100 million rupees for the new lending business, and said it would invest one billion rupees over the next two years.

Pidilite said Pargro, a non-banking financial company, does not have any lending operations presently and is debt-free as on Oct. 31.

"The new business would provide credit to the domain ecosystem to support their business growth," the company said in a statement.

The company had in August said it expected growth to be volume-led in the near term with increased construction activity and stable input prices.

Revenue at its consumer and bazaar segment, which accounts for over 80% of Pidilite's topline, grew 3%, while revenue from its business-to-business segment fell over 1%.

Shares of the company closed up 1.43% ahead of the results.

($1 = 83.2620 Indian rupees)

(Reporting by Nishit Navin in Bengaluru; Editing by Varun H K)

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Oct 13 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• TOY COMPANY IMAGIMAKE RAISES 200 MILLION RUPEES FROM PIDILITE VENTURES

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Sept 28 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• PIDILITE INDUSTRIES LTD - PIDILITE VENTURES AGREED TO MAKE AN INVESTMENT OF 200 MILLION RUPEES IN IMAGIMAKE PLAY SOLUTIONS

• PIDILITE INDUSTRIES LTD - INVESTMENT DONE BY SUBSCRIBING TO COMPULSORILY CONVERTIBLE PREFERENCE SHARES

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Sept 8 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• ASSISTANT COMMISSIONER OF CENTRAL TAX, PUNE IMPOSED PENALTY OF 264,844 RUPEES UNDER APPLICABLE PROVISIONS OF CGST ACT, 2017

• ORDER PASSED WITH REGARDS TO DISALLOWANCE OF INPUT TAX CREDIT IN MAHARASHTRA FOR M/S. CIPY POLYURETHANES

• GST DEPARTMENT HAS DISALLOWED CO’S CLAIM ON INPUT CREDIT CLAIMED AND RELATED MATTERS

• DEMAND RELATES TO YEAR 2017-18, WHICH WAS BEFORE CIPY BECAME A SUBSIDIARY OF CO

• NO MATERIAL IMPACT ON FINANCIALS, OPERATIONS OR OTHER ACTIVITIES OF CO

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Aug 25 (Reuters) - Pidilite Industries Ltd PIDI.NS:

• UNIT TO MAKE FURTHER INVESTMENT OF 60 MILLION RUPEES IN BUILDNEXT CONSTRUCTION SOLUTIONS

• UNIT'S INVESTMENT BY SUBSCRIBING TO COMPULSORILY CONVERTIBLE PREFERENCE SHARES OF BUILDNEXT

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BENGALURU, Aug 22 (Reuters) - Indian stationery maker Doms Industries has filed for an initial public offering worth 12 billion rupees ($144.53 million), draft papers filed with the market regulator showed on Tuesday.

Doms will issue new shares worth 3.5 billion rupees, while existing shareholders will sell shares worth 8.5 billion rupees, the draft prospectus showed.

Milan-listed FILA Fabbrica Italiana Lapis ed Affini SpA FILA.MI, which holds a 51% stake in the company, is selling shares worth 8 billion rupees.

Doms, which competes with Kokuyo Camlin KOCL.NS, Linc LINC.NS and Pidilite Industries PIDI.NS, aims to use proceeds from the fresh issue of shares to partly finance the cost of setting up a new manufacturing facility, it said.

Kokuyo Camlin shares surged 71% and Linc 53% so far this year amid strong demand for stationery post the pandemic. They outpaced a 7% rise in the blue-chip Nifty 50 .NSEI, which has retreated from record highs due to moderating foreign inflows, worries over U.S. Federal Reserve's interest rate hikes and growth concerns in China.

Pidilite, which makes industrial adhesives and chemicals, has slipped 2% this year.

Doms posted a net profit of 958.1 million rupees in fiscal 2023, a near seven-fold jump from a year earlier. Its revenue surged 77% to 12.12 billion rupees.

JM Financial, BNP Paribas, ICICI Securities and IIFL Securities are book-running lead managers to Doms' IPO.

($1 = 83.0261 Indian rupees)

(Reporting by Chris Thomas in Bengaluru; Editing by Shilpi Majumdar)

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BENGALURU, Aug 10 (Reuters) - India's Pidilite Industries PIDI.NS, maker of adhesive brand Fevicol, reported a more than 32% rise in first-quarter profit on Thursday, aided by strong demand and reduced input costs.

The company's consolidated net profit rose to 4.68 billion rupees ($56.53 million) for the three months ended June 30, it said in an exchange filing.

Consolidated revenue from operations rose nearly 6% to 32.75 billion rupees.

The company, also known for its waterproofing product Dr. Fixit and paper-to-paper sticking adhesive Fevistik, said raw material costs dropped nearly 13% to 13.66 billion rupees.

"Rural markets continued to grow faster, signalling a gradual recovery in the rural economy. However, export of consumer and bazaar products declined due to challenging demand conditions in the overseas markets," the company said in a statement.

The consumer and bazaar segment, which sells adhesives, craft materials and construction and paint chemicals to retail users, and accounts for over 80% of Pidilite's revenue, posted revenue growth of more than 9%.

"A combination of moderating input prices and operational efficiencies saw our gross margins improve substantially," said Managing Director Bharat Puri.

Pidilite's shares rose 10.4% during the quarter.

($1 = 82.7920 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Sohini Goswami)

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