Established in 1959, Pidilite Industries is a leading manufacturer of adhesives and sealants, and construction chemicals, craftsman products, DIY products, and polymer emulsions in India. Company brands include Fevicol, M-Seal, Fevikwik, Fevistik, and Dr. Fixit.
Pidilite operates with three main business segments: Consumer & Bazaar (81.1% of total net sales), Business to Business (18.0%), and Others (0.9%). The company’s consolidated net sales in its 2023 fiscal year (ended March 31, 2023) were Rs 11,752 cr (approximately $1.43681 billion), representing an increase of 18.9% over the prior fiscal year. The company attributed its growth strong volume growth, improved mix, and price increases. Growth was across all company segments.
Adhesives and sealants products produced in the Consumer & Bazaar segment represented 55.7% of total net sales for the year, or approximately Rs 6,546 cr (~ $797 million). Pidilite also produces industrial sealants in the Business to Business segment. Sales here reached about Rs 681 cr (~ $83 million), or 5.8% of total sales.
With approximately 7,500 global employees, Pidilite operates manufacturing facilities in India, the U.S., Thailand, Dubai, Brazil, Egypt, Bangladesh, Sri Lanka, and Kenya. The company has five R&D centers (three in India and one each in Singapore and the U.S.).
No. 14 | Pidilite Industries Ltd.Mumbai, India
Chairman: Madhukar ParekhO
Sources: company website, press releases, analyst presentation