Pidilite Industries Limited Reports Consolidated Net Sales Growth of 10 Percent Over the Same Quarter Last Year, EBITDA Growth at 16 Percent

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

FINANCIAL PERFORMANCE

Consolidated Performance

• Net sales at Rs 2,006 Cr grew by 10% over the same quarter last year. • EBITDA before non-operating income stood at Rs 444 Cr and grew by 16% over the same quarter last year given the input cost led improvement in gross margins by 1%.

• Profit after tax at Rs 294 Cr grew by 22% over the same quarter last year.

Standalone Performance • Net sales at Rs 1,768 Cr grew by 11% over the same quarter last year with underlying sales volume & mix growth of 6%. This was driven by a 6% growth in sales volume & mix of Consumer & Bazaar products and 12% growth in sales volume & mix of Industrial Products.

• EBITDA before non-operating income stood at Rs 418 Cr and grew by 16% over the same quarter last year given the input cost led improvement in gross margins by 1%. • Profit after tax stood at Rs.288 Cr grew by 8% over the same quarter last year. Excluding income from inter-company transfer of intangible assets and effect of tax thereon, in the same period last year, grew by 19% over the same quarter last year.

MD's COMMENTS

Commenting on the quarter performance, Mr. Bharat Puri, Managing Director, Pidilite Industries Ltd, said:

Q1 2019-20: "Despite challenging demand conditions, we have delivered resilient performance driven by consumer franchise expansion in rural areas, earlier pricing actions and moderation in input costs. We remain cautiously optimistic in the medium term of delivering consistent, profitable volume led growth."