Pidilite Industries gains on strong Q4 results

Pidilite Industries was trading higher by 4% to Rs 638 on the BSE in an otherwise range-bound market after the company reported a strong 89% year on year (YoY) jump in its consolidated net profit at Rs 153 crore for the quarter ended March 31, 2016 (Q4FY16), on back of higher volume growth and lower input cost.

The specialty chemicals maker had profit of Rs 81 crore in the same quarter previous year.

Net sales of the company rose 19% at Rs 1,233 crore on YoY basis. Total expenditure increased 10% at Rs 1,038 crore over the previous year quarter.

Ebitda (earnings before interest, taxes, depreciation and amortization) margins improved to 19% from 13% during the recently concluded quarter.

Commenting on the quarter performance, Mr. Bharat Puri, managing director, Pidilite Industries said, “In an environment of challenging demand conditions and benign input costs, we have delivered a year of steady volume and strong profit growth.

We remain focused on growing our categories while driving operational efficiencies.

The stock hit an intra-day high of Rs 642 on the BSE and is trading close to its 52-week high of Rs 648 touched on February 22, 2016 during intra-day trade. The trading volumes on the counter jumped an over three-fold with a combined 947,406 shares changed hands on the BSE and NSE so far.

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