Sustained robust volume growth; rich valuations

Company
09 May 2024
5 Min read 
  • Pidilite Industries reported 8% YoY revenue growth in 4QFY24 with 15% volume growth.
  •  The consumer business saw a 13% volume growth and B2B business reported 25% volume growth.
  •  Gross margins expanded by 660bp YoY to 53.4% due to benign raw material prices.
  •  EBITDA margin saw a limited expansion of 280bp YoY and declined 400bp QoQ to 19.9%.
  •  The company aims to grow faster than the market with 8-9% volume growth.
  •  The management maintains its EBITDA margin guidance in the range of 20-24% for the medium term.
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