Net sales increased by 41.5% to Rs. 1851 in Q4FY21 crore as compared to Q4FY20.
EBITDA before non-operating income stood at Rs. 408 crore, improving by 42.8% from Q4FY20.
Profit Before Tax & Exceptional Items improved by 43.3% to Rs. 376 crore from Q4FY20.
PAT increased by 73.3% to Rs. 271 crore from Q4FY21.
Net sales improved by 45.3% growth in sales volume & mix of Consumer and Bazaar and growth of 25.9% in sales & volume mix of B2B division.
Consolidated Q4FY21
Net sales increased by 45.3% (growth of 38.2% if PAPL is excluded) to Rs. 2,230 in Q4FY21 crore as compared to Q4FY20.
Gross margins were impacted due to significant inflation in input costs.
EBITDA before non-operating income stood at Rs. 460 crore, improving by 52.1% (improvement of 40.8% if PAPL is excluded) from Q4FY20.
Profit Before Tax & Exceptional Items improved by 62.6% (improvement of 49.4% if PAPL is excluded) to 415 from Q4FY20.
PAT increased by 96.3% (growth of 80.2% if PAPL is excluded) to Rs. 307 crore from Q4FY21.
Standalone FY21
Net sales declined by 1.6% YOY to Rs. 6,187 crore in FY21.
EBITDA improved by 4.3% YOY to Rs. 1,550 crore in FY21.
Profit Before Tax & Exceptional declined by 2.6% YOY to Rs. 1,457 crore. This happened mainly due to lower income from investments in FY21.
Profit After Tax declined by 1.8% YOY to Rs. 10,81 crore.
Consolidated FY21
Net sales remained flat (decline of 2.4%YOY if PAPL is excluded) to Rs. 7,251 crore in FY21.
EBITDA before non-operating income stood at Rs. 1,683 crore in FY21. A growth of 6.5% YOY (growth of 2.7% if PAPL is excluded).
Profit Before Tax & Exceptional Items improved 0.1% YOY (decline of 3.8% if PAPL is excluded) to Rs. 1,526 crore. This happened mainly due to lower income from investments in FY21.
PAT increased by 0.4% YOY (decline of 3.6% if PAPL is excluded) to Rs. 1,126 crore.
Segment Performance
Net sales of Consumer & Bazaar segment increased by 46.4% in Q4FY21 when compared to Q4FY20. PBIT of C&B rose by 51% in the same period.
C&B sales were flat in FY21 and PBT improved by 8.1% in FY21 when compared to FY20.
B2B sales were up 27.4% in Q4FY21 YOY. PBIT of B2B sales was down 18.2% in the same period. This was due to rising input costs and particular exchange gains which happened last year.
B2B sales were down by 6.5% in FY21 YOY and PBIT for the division was down by 34.3% in the same period.
Commentary from MD
Q4FY21 witnessed a robust growth across all businesses and geographies.
Although there were significant challenges in FY 21, the MD said that the company has displayed adaptability and resilience while building capacity and capability.
Gross margins were impacted due to inflation in input costs.
Despite pricing and cost actions, the company expects margins to remain under pressure in upcoming quarters.
PAPL
The company acquired 100% stake in PAPL (Pidilite Adhesive Pvt Ltd) on 3rd Nov 2020.
Dividend
Board of Director proposed final dividend of Rs. 8.5 per share.
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