Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Pidilite Industries reports Q2 FY20 earnings

Posted On: 2019-11-14 22:16:05

Pidilite Industries Limited, India's leading manufacturer of adhesives, sealants and construction chemicals today announced Its financial results for the quarter and six months ended September 30, 2019.

FINANCIAL PERFORMANCE

Consolidated Performance

- Net sales at Rs 1,797 Cr grew by 3% over the same quarter last year. Net sales for the half year ended stood at Rs 3,803 Cr and grew by 7% over the same period last year.

- EBITDA before non-operating income stood at Rs 369 Cr and marginally declined by 0.6% over the same quarter last year, on account of higher A & SP spends. EBITDA for the half year ended stood at Rs 813 Cr and grew by 8% over the same period last year.

- Profit after tax {PAT) at Rs 325 Cr grew by 41% (excluding exceptional items* grew by 49%) over the same quarter last year, mainly on account of reduction in tax rates by government, For the half year ended, profit after tax at FS 520 Cr grew by 31% (excluding exceptional items* grew by 36%).

*Exceptional item represents impairment loss on plant and machinery held for sale amounting to Rs. 22 Cr in current period and in value of investment amounting to Rs. 2 Cr in previous period.

Standalone Performance

- Net sales at Rs 1r 562 Cr grew by 4% over the same quarter last year with underlying sales volume & mix growth of 1%. This was driven by a 13% growth in sales volume & mix of industrial Products and decline of 1% in sales volume & mix of Consumer & Bazaar Products, Net sales for the half year ended stood at Rs 3,330 Cr and grew by 7% over the same period last year.

- EBITDA before non-operating Income stood at Rs 352 Cr and grew by 1% over the same quarter last year, on account of higher A & SP spends. EBITDA for YTD Sept'19 stood at Rs. 770 Cr and grew by 9% over the same period Last year.

- PAT at Fs 324 Cr grew by 33% over the same quarter last year. PAT grew by 49%, excluding exceptional items* and dividend income from subsidiaries and effect of tax thereon, in previous corresponding quarter. Effective tax rate for the quarter has been reduced from 33% to 75% due to reduction in corporate tax rate and remeasurement of deferred tax liability. For the half year ended, PAT at Rs 612 Cr grew by 20%, PAT grew by 34% excluding exceptional items* and income from inter-company transfer of intangible assets and dividend income from subsidiaries and effect of tax thereon, in same period last year.

*Exceptional item represents impairment Loss on plant and machinery held for sale amounting to Rs. 22 Cr in current period.

Commenting on the quarter performance. Mr. Bharat Puri, Managing Director, Pidilite Industries Ltd, said "This quarter has seen moderation of top line growth as a result of the challenging market conditions, the liquidity crunch as well as the prolonged monsoon and attendant disruption. While gross margins nave improved substantially due to softer input costs, higher advertising and sales promotion costs due to phasing in this quarter, saw EDITDA at the same level as last year. For the first half, consolidated net sales grew at 7%, whereas ESTiciA has grown by El% and PAT excluding exceptional items) by 35%.

While we expect demand conditions to improve in the new year, we remain focused on driving volume growth enabled by investments in brand building, capability and growth in small towns and rural India."

Shares of PIDILITE INDUSTRIES LTD. was last trading in BSE at Rs.1333.7 as compared to the previous close of Rs. 1320.6. The total number of shares traded during the day was 53938 in over 2733 trades.

The stock hit an intraday high of Rs. 1346 and intraday low of 1315. The net turnover during the day was Rs. 71666134.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Shaily Engineering Plastics Limited clarifies on media reports regarding GST Search

Welspun Corp Ltd bags contracts for supply of 179 KMT pipes

Maharashtra Seamless secures Prestigious ONGC Orders

NBCC India Ltd receives order from Deparment of Revenue

GST search in Shaily Engineering Plastics Ltd's Rania Unit

Ecoplast Ltd to shut down Guwahati plant of subsidiary

KNR Constructions Ltd receives work order of Rs. 165.67 crores

Urja Global Ltd enters into JV for Electric Car

Banco Products India Ltd approves disinvestment

Bank of India board approves fund raising through issue of upto 125 crore shares

Ind-Ra affirms JK Paper's long-term issuer rating

Security and Intelligence Services India Ltd to acquire 51% in Adis Enterprises Pvt Ltd

ITC Ltd acquires stake in Delectable Technologies Pvt. Ltd.

Dynacons recognized as part of the Deloitte Technology Fast 50 India 2019

TCS' Advanced Drug Development Suite wins the India Pharma Award 2019

Zensar Partners with Education Africa to support students of Business Management

Fire at Oriental Aromatics Ltd's catalyst plant

Mitsu Chem Plast Ltd Board to consider Bonus Issue

Shri Jairam Sridharan, CFO of AXIS Bank resigns

Carnation Industries Ltd shuts plant for maintenance, repays dues to SBI, PNB

Issue of US$ 500 Million 3.50 Per Cent Notes By REC Limited

Vascon Engineers Ltd receives Rs. 132.69 crores work order from AAI

KEC International wins New Orders of Rs. 1,025 crore

RBI imposes penalty of Rs. 25 lakh on Andhra Bank

JSW Steel Ltd to seek clarifications on NCLAT order

G Bank, Myanmar Selects Infosys Finacle to Power its Growth

Thomas Cook India's Regional Maharashtra Tours witness a surge in demand of 27% from the State

Maruti Suzuki to proactively recall 63,493 Petrol Smart Hybrid variants of Ciaz, Ertiga and XL6 models

Dr. Reddy's Laboratories announces the launch of D.eferasirox Tablets for Oral Suspension, in the U.S. Market

Granules India Ltd clarifies on presence of NDMA in Metformin manufactured by the company

Bajaj Finance participates in QIP of RBL Bank Ltd

Cadila Healthcare Ltd receives EIR for API facility at Dabhasa, Gujarat

RBL Bank successfully closes QIP, raises Rs. 2,025 Crore

CARE revises ratings of Shakti Pumps India Ltd

Aite Group Names Majesco the Top 'Best-inClass' Vendor in the P&C Policy Administration Aite Matrix Report

Liberty Mutual Enhances Commercial Insurance Underwriting through Mastery of Big Data, adding more value to Brokers and Buyers

Shortlisted ideas from the European Tour Innovation Hub with Tata Communications show how latest digital technologies could revolutionise golf

Mercator Ltd board approves sale of PI in oil block

Pennar Industries bags orders worth INR 302 Crore

ICRA assigns credit ratings to NELCAST Ltd

Affle launches Vizury Engage360 to simplify omnichannel marketing

CARE A+ rating of Equitas Small Finance Bank Ltd reaffirmed

Reliance Power Ltd updates on rating action by Ind-RA

Moody's downgrades Yes Bank's ratings, assigns negative outlook

CARE reaffirms rating of NACL Industries Limited

Narayana Hrudayalaya announces discontinuation of Hospital Project in Kenya

Renascent Power acquires 75.01% stake in Prayagraj Power Generation Company Ltd

Sadbhav Tumkur Highway Private Ltd signs termination of concession agreement with NHAI

Nirlon Ltd, J.P. Morgan Sign Real Estate Transaction in Mumbai

Gati launches itself into the next phase of growth with All Cargo Logistics & Kintetsu World Express, Japan







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019