Pidilite Industries Ltd., an Indian adhesives and other specialty chemicals manufacturer has reported its financial results for the period ended March 31, 2021.
Q4 Results
For the quarter, the company has posted a net profit of Rs 306.19 crores ($41.8 million), a 94.4% increase as against Rs 157.53 crores ($21.5 million) during the prior-year quarter.
Net sales grew 44.5% to Rs 2252.85 crores ($307.6 million) for the quarter ended March 31, 2020 as compared to Rs 1558.64 crores ($212.8 million) during the prior-year quarter.
Full-Year Results
The company’s net profit slightly rose 1.3% to Rs 1131.21 crores ($154.4 million) for the full-year period ended March 31, 2021 as against Rs 1116.42 crores ($152.4 million) for the full-year period ended March 31, 2020.
The company has reported net sales of Rs 7372.11 crores ($1.01 billion) during the full-year period ended March 31, 2021, a 0.9% decline as compared to Rs 7443.9 crores ($1.02 billion) during the full-year period ended March 31, 2020.
Commenting on the quarter performance, Mr. Bharat Puri, Managing Director, Pidilite Industries Ltd, said: “This quarter witnessed robust broad-based growth across all businesses and geographies. Despite significant challenges in FY 21, we have displayed adaptability and resilience while building capacity and capability. Gross margins continue to be impacted due to unprecedented inflation in input costs. Despite pricing and cost actions, we expect margins to remain under pressure in the coming quarters.
The current second wave of the pandemic poses challenges and Pidilite remains committed to working with our partners to overcome this crisis.”