Stock Name : Pidilite Industries Limited/Tips Open Buy : 1,760 Posted Date : Dec 28, 2020
Stopless/Horizon : 1672 Target : 2024     

Overview: Pidilite Industries Limited is the largest player in the consumer adhesive and sealant industry, it is a Large Cap company with a market capital of Rs 88035.56 Crore.

About the company:Founded by Mr Balvant Parekh in 1959, Pidilite Industries started with a single factory and manufacturedFevicol. Today, Pidiliteis the largest manufacturer of adhesives in India. In addition to the company’s flagship brand, Fevicol, other brands includeSteelgrip, Dr. Fixit, M-seal, Fevicryl, Fevikwik, Fevistik, Fevilite, Fevibond, and Acron.Pidilitehas three fully-equipped in-house R&D centres in India and five state-of-the-art technical research and innovation centres in Singapore, Thailand, Brazil, Dubai and USA.The company has 23 manufacturing plants,in which 19 are in India, Pidilitehas developed an extensive pan-India network, comprising over 5,000 distributors, servicing 200,000 dealers, retailers and contractors.

Subsidiaries& JV: Pidilite Industries Limited has a total of 9 joint ventures and subsidiaries:

(1) ICAPidilite (50-50 JV between Pidilite&Italy’s ICA) -Manufactures and distributing wood finish products and accessories. (2) Nina Percept Private Limited- India’s largest Specialized Waterproofing and Building envelope protection turnkey solutions company. (3) CIPY Poly Urethanes Pvt. Ltd(Pidiliteowns 70% Stake) is engaged in the manufacturing and selling of floor coatings. (4) Jowat SEPidilitewith collaboration with German enterprise Jowat SE, handles sales and distribution of the entire range of Jowat adhesives in India. (5) Pidilite’ssubsidiary Building Envelope Systems India(BESI)is specialized in polyurethane foam and self-adhesive membranes for waterproofing. (6) Pidilite has formed a 60:40 JV with Italy’s Litokol S.p.A, leading tile adhesives and epoxy grout manufacturer. (7) Pidilitewith a 50:50 JV withSpain’sCorporacionEmpresarial Grupo Puma S.L. (Grupo Puma). (8) Pidilite acquired a 100% stake in Huntsman Advanced Materials Solutions Private Ltd. (HAMSPL). HAMSPL is a manufacturer and seller of Adhesives, Sealants, and other products under well-known brands such as Araldite, Araldite Karpenter, and Araseal in India. (9) Pidilite controls 70% stake in Tenax India (Tenaxis engaged in the business of providing a comprehensive array of products which includes adhesives, coating, surface treatment chemicals and abrasives for marble, granite and stone Industry).

Management: Mr. Madhukar Balvantray Parekh is the Chairman and Mr Bharat Puri is the Managing Director of the company.

Shareholding Pattern (2020):
• Promoter: 70.2%
• MF: 4.3%
• FII: 10.9%
• Other Institutions: 4.3%
• Public: 10.3%

Sales Report:For the quarter ended on 30th September 2020, Pidilite posted a consolidated sale of Rs 1880.33 Crore, which is up 114.20 % from last quarter sales of Rs 877.84 Crore and up 4.08 % from previous year corresponding quarter sales of Rs 1806.58 Crore. Company has reported net profit after tax of Rs 355.83 Crore in latest quarter.The company’s net profit rose 10% at Rs 355.83 crore.

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