PIDILITE INDUSTRIESPidilite Industries LimitedNSE:PIDILITINDTechnicalAnalystSucritPidilite Industries Ltd. (CMP ₹1,269.00, NSE: PIDILITIND) The SmartWay Research Desk | 30 July 2026 A Mumbai‑based adhesives and chemicals company, incorporated in 1969. Pidilite is India’s market leader in consumer adhesives, sealants, construction chemicals, and art materials, with flagship brands like Fevicol, Fevikwik, Dr. Fixit, M‑Seal, and Hobby Ideas. Promoter Holding (Mar 2026): Parekh Family — 69.94% stake (no pledges) FY22–FY26 Snapshot Revenue Growth: FY26 revenue ₹14,842 Cr vs ₹13,212 Cr in FY25 (+12.3% YoY). → Good Net Profit: FY26 PAT ₹2,312 Cr vs ₹2,042 Cr in FY25 (+13.2% YoY). → Good Operating Margin: FY26 EBITDA ₹3,812 Cr, margin 25.7% vs 25.0% last year (+70 bps). → Good Equity Capital: Stable, face value ₹1. → Good Dividend Policy: Dividend ₹12.00/share declared for FY26. → Good Asset Building: Investments in construction chemicals and global expansion (Bangladesh, Sri Lanka, Africa). → Good Sales: Strong demand from Fevicol and Dr. Fixit segments. → Good Expense: Raw material cost pressures (petrochemical derivatives) remain. → Neutral/Good EPS: FY26 EPS ₹24.25 vs ₹21.40 last year (+13.3%). → Good Institutional Interest & Ownership Trends (Mar 2026) Promoter Holding: 69.94% (no pledges) FII Holding: 12.12% DII Holding: 11.34% Retail & Others: 6.60% Strategic Moves & Innovations Expansion in construction chemicals and waterproofing solutions. Focus on premium adhesives and DIY consumer products. Partnerships with global distributors for art & craft materials. Diversification into industrial resins and specialty chemicals. Cash Flow & Balance Sheet Strength Market cap ~₹64,800 Cr. Debt‑to‑equity ratio ~0.22 (low leverage). Book value per share ₹182.40; P/B ~6.9. EPS (TTM) ₹24.25; P/E ~52.3. Risk Factors High P/E ratio ~52.3, indicating premium valuations. Dependence on petrochemical raw materials. Exposure to competition in adhesives and construction chemicals. Competition from Astral, Asian Paints, and Berger Paints. Investor Takeaway Pidilite has delivered steady FY26 performance, supported by adhesives demand, construction chemicals growth, and international expansion. With strong promoter backing, dividend payouts, and leadership in consumer adhesives, Pidilite remains a premium FMCG‑chemicals play. At CMP ₹1,269.00, valuations are expensive (P/E ~52.3, P/B ~6.9), reflecting growth expectations but also sectoral risks.