The brand name Fevicol has become synonymous with adhesives to millions in India and is ranked amongst the most trusted brands in the country. The company earns about 53% of its revenues from adhesives & sealants category, followed by Construction & paint chemicals (20%), industrial resins & construction chemicals (7%), art & craft materials (6%), industrial adhesives (6%), and pigment & preparation (6%). Pidilite has become part of how Indian homes are built and maintained.
Cyborg Score Rationale
In FY 2026, the company delivered revenue of ₹148.7b (up 13%) with net income of ₹24.5b (up 18%), demonstrating solid operational performance. Q3 FY26 saw consolidated net sales grow 10.2% year-over-year with EBITDA and PAT both increasing 12.0%. However, the stock trades at a P/E ratio of 67.3x, reflecting a premium valuation.
Top Insights
Consumer & Bazaar segment delivered 12.4% revenue growth to Rs. 2,802 crore in Q3 FY26, supported by healthy underlying volume growth of 9.7%.
Goldman Sachs maintained 'Buy' rating citing resilient near double-digit volume growth; UBS maintained 'Buy' with target of ₹3,600 following solid operational performance.
Revenue is forecast to grow 9.0% annually over next 3 years, below the 13% growth forecast for India's chemicals industry.
The company has a presence in over 50 countries with operations in five business lines: Adhesives, Construction Chemicals, Industrial Adhesives & Sealants, Art Materials, and Polymers & Resins.
Named Competitors
Construction Chemicals & Adhesives — Global specialty chemicals and construction materials
Adhesives & Sealants — Industrial adhesives, sealants and specialty products
Industrial Adhesives — Consumer and industrial adhesives and sealants
Construction Chemicals — Chemical solutions including construction chemicals and resins
Recent Developments
(May 2026) Declared dividend of ₹11.50 per share on 07 May 2026, translating a dividend yield of 2.61%.
(February 2026) Q3 FY26 results showed consolidated net sales of Rs. 3,699 crore (10.2% increase), EBITDA of Rs. 894 crore (12.0% rise), and PAT of Rs. 624 crore (12.0% increase).
(March 2026) Full year FY26 results reported revenue of ₹148.7b (up 13%), net income of ₹24.5b (up 18%), and EPS of ₹24.07 (up from ₹20.41 in FY 2025).
Open the full interactive Pidilite Industries Limited report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.