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Pidilite Q4 Results | Yadnya Investment Academy

Pidilite Q4 Results | Yadnya Investment Academy

Published on 17 May 2021|
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Standalone Q4FY21

  • 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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