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Pidilite Industries

BSE:500331
Snowflake Description

Excellent balance sheet with reasonable growth potential and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
500331
BSE
₹591B
Market Cap
  1. Home
  2. IN
  3. Materials
Company description

Pidilite Industries Limited, together with its subsidiaries, manufactures and sells consumer and specialty chemicals in India and internationally. The last earnings update was 5 days ago. More info.


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500331 Share Price and Events
7 Day Returns
-0.3%
BSE:500331
-0.1%
IN Chemicals
-0.1%
IN Market
1 Year Returns
7.7%
BSE:500331
-4.4%
IN Chemicals
-3.7%
IN Market
500331 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pidilite Industries (500331) -0.3% -7.2% 8.4% 7.7% 78% 252.3%
IN Chemicals -0.1% -5.5% 4% -4.4% 50.8% 150.5%
IN Market -0.1% -5% 4.7% -3.7% 34.5% 38.6%
1 Year Return vs Industry and Market
  • 500331 outperformed the Chemicals industry which returned -4.4% over the past year.
  • 500331 outperformed the Market in India which returned -3.7% over the past year.
Price Volatility
500331
Industry
5yr Volatility vs Market

500331 Value

 Is Pidilite Industries undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Pidilite Industries to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Pidilite Industries.

BSE:500331 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 18 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 15.4%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BSE:500331
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.873 (1 + (1- 35%) (0.19%))
0.915
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.915 * 8.6%)
15.42%

Discounted Cash Flow Calculation for BSE:500331 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Pidilite Industries is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

BSE:500331 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 15.42%)
2019 7,140.64 Analyst x8 6,186.49
2020 9,774.67 Analyst x9 7,336.96
2021 10,199.91 Analyst x11 6,633.12
2022 14,772.00 Analyst x1 8,322.77
2023 17,408.80 Est @ 17.85% 8,497.76
2024 19,978.34 Est @ 14.76% 8,448.93
2025 22,495.01 Est @ 12.6% 8,242.06
2026 24,988.10 Est @ 11.08% 7,932.13
2027 27,492.67 Est @ 10.02% 7,561.03
2028 30,044.29 Est @ 9.28% 7,158.68
Present value of next 10 years cash flows ₹76,319.92
BSE:500331 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹30,044.29 × (1 + 7.55%) ÷ (15.42% – 7.55%)
₹410,415.83
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹410,415.83 ÷ (1 + 15.42%)10
₹97,790.13
BSE:500331 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹76,319.92 + ₹97,790.13
₹174,110.05
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹174,110.05 / 507.98
₹342.75
BSE:500331 Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹342.75
Current discount Discount to share price of ₹1,163.10
= -1 x (₹1,163.10 - ₹342.75) / ₹342.75
-239.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Pidilite Industries is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Pidilite Industries's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pidilite Industries's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:500331 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹18.21
BSE:500331 Share Price ** BSE (2019-05-17) in INR ₹1163.1
India Chemicals Industry PE Ratio Median Figure of 233 Publicly-Listed Chemicals Companies 14.53x
India Market PE Ratio Median Figure of 2,758 Publicly-Listed Companies 15.12x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Pidilite Industries.

BSE:500331 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:500331 Share Price ÷ EPS (both in INR)

= 1163.1 ÷ 18.21

63.87x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pidilite Industries is overvalued based on earnings compared to the IN Chemicals industry average.
  • Pidilite Industries is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Pidilite Industries's expected growth come at a high price?
Raw Data
BSE:500331 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 63.87x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts
17.4%per year
India Chemicals Industry PEG Ratio Median Figure of 53 Publicly-Listed Chemicals Companies 1.26x
India Market PEG Ratio Median Figure of 559 Publicly-Listed Companies 1.25x

*Line of best fit is calculated by linear regression .

BSE:500331 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 63.87x ÷ 17.4%

3.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pidilite Industries is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Pidilite Industries's assets?
Raw Data
BSE:500331 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹81.68
BSE:500331 Share Price * BSE (2019-05-17) in INR ₹1163.1
India Chemicals Industry PB Ratio Median Figure of 268 Publicly-Listed Chemicals Companies 1.37x
India Market PB Ratio Median Figure of 3,638 Publicly-Listed Companies 1.02x
BSE:500331 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:500331 Share Price ÷ Book Value per Share (both in INR)

= 1163.1 ÷ 81.68

14.24x

* Primary Listing of Pidilite Industries.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pidilite Industries is overvalued based on assets compared to the IN Chemicals industry average.
X
Value checks
We assess Pidilite Industries's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Chemicals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Chemicals industry average (and greater than 0)? (1 check)
  5. Pidilite Industries has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

500331 Future Performance

 How is Pidilite Industries expected to perform in the next 1 to 3 years based on estimates from 18 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
17.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pidilite Industries expected to grow at an attractive rate?
  • Pidilite Industries's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Pidilite Industries's earnings growth is expected to exceed the India market average.
  • Pidilite Industries's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
BSE:500331 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:500331 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts 17.4%
BSE:500331 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 18 Analysts 12.4%
India Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 17.7%
India Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 14.3%
India Market Earnings Growth Rate Market Cap Weighted Average 16.8%
India Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:500331 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:500331 Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 104,295 14,151 16,465 2
2021-03-31 91,982 12,846 13,586 17
2020-03-31 80,308 11,470 11,484 16
BSE:500331 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 70,787 9,249
2018-12-31 69,251 9,339
2018-09-30 66,197 9,543
2018-06-30 63,836 9,745
2018-03-31 60,784 7,964 9,624
2017-12-31 58,885 8,751
2017-09-30 56,799 8,377
2017-06-30 55,763 8,197
2017-03-31 56,168 7,938 8,600
2016-12-31 55,648 8,234
2016-09-30 55,686 8,200
2016-06-30 54,694 7,931

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pidilite Industries's earnings are expected to grow by 17.4% yearly, however this is not considered high growth (20% yearly).
  • Pidilite Industries's revenue is expected to grow by 12.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:500331 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below

All data from Pidilite Industries Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:500331 Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 32.42 32.42 32.42 1.00
2021-03-31 26.68 28.11 25.24 15.00
2020-03-31 22.52 23.93 21.10 15.00
BSE:500331 Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 18.21
2018-12-31 18.52
2018-09-30 18.88
2018-06-30 19.23
2018-03-31 18.95
2017-12-31 17.07
2017-09-30 16.34
2017-06-30 15.92
2017-03-31 16.77
2016-12-31 16.08
2016-09-30 16.00
2016-06-30 15.46

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Pidilite Industries is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Pidilite Industries's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Pidilite Industries has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

500331 Past Performance

  How has Pidilite Industries performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Pidilite Industries's growth in the last year to its industry (Chemicals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Pidilite Industries's year on year earnings growth rate has been positive over the past 5 years.
  • Pidilite Industries's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Pidilite Industries's 1-year earnings growth is negative, it can't be compared to the IN Chemicals industry average.
Earnings and Revenue History
Pidilite Industries's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Pidilite Industries Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:500331 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 70,787.40 9,249.10 8,366.60
2018-12-31 69,251.20 9,338.80 10,492.30
2018-09-30 66,197.20 9,542.50 10,148.20
2018-06-30 63,835.60 9,745.30 7,385.80
2018-03-31 60,784.10 9,623.50 9,686.40
2017-12-31 58,884.90 8,751.40 9,369.10
2017-09-30 56,799.40 8,377.30 9,278.40
2017-06-30 55,763.40 8,197.20 6,636.70
2017-03-31 56,167.90 8,599.90 8,819.80
2016-12-31 55,647.57 8,234.10 8,656.85
2016-09-30 55,685.67 8,200.10 8,445.05
2016-06-30 54,693.57 7,931.40 8,274.55
2016-03-31 53,611.70 8,028.30 8,049.40
2015-12-31 51,690.14 6,835.99 9,417.58
2015-09-30 50,330.34 6,223.79 9,251.48
2015-06-30 49,681.54 5,695.79 9,138.58
2015-03-31 48,441.04 5,125.69 7,217.01
2014-12-31 47,907.74 5,050.24 8,629.56
2014-09-30 46,569.84 4,777.64 8,427.56
2014-06-30 45,024.90 4,573.30 4,586.50
2014-03-31 42,832.04 4,498.14 8,067.26
2013-12-31 41,290.00 4,580.15 7,195.07
2013-09-30 39,934.50 4,797.65 7,050.47
2013-06-30 37,991.20 4,569.45 6,869.57
2013-03-31 36,781.10 4,239.75 6,759.84
2012-12-31 35,566.49 4,066.21 6,383.57
2012-09-30 33,976.99 3,662.61 4,568.07
2012-06-30 32,793.09 3,477.81 6,196.27

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Pidilite Industries has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Pidilite Industries used its assets more efficiently than the IN Chemicals industry average last year based on Return on Assets.
  • Pidilite Industries's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Pidilite Industries's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Chemicals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Pidilite Industries has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

500331 Health

 How is Pidilite Industries's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Pidilite Industries's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pidilite Industries is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pidilite Industries's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Pidilite Industries's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 32.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Pidilite Industries Company Filings, last reported 1 month ago.

BSE:500331 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 43,552.40 1,110.50 14,134.40
2018-12-31 39,041.40 1,065.10 13,809.60
2018-09-30 39,041.40 1,065.10 13,809.60
2018-06-30 37,490.50 1,225.50 13,439.90
2018-03-31 37,490.50 1,245.70 12,785.00
2017-12-31 37,874.80 920.00 17,129.70
2017-09-30 37,874.80 920.00 17,129.70
2017-06-30 35,982.30 975.10 15,387.40
2017-03-31 35,982.30 975.10 14,897.50
2016-12-31 33,298.20 1,000.80 12,675.60
2016-09-30 33,298.20 1,000.80 12,675.60
2016-06-30 28,256.34 847.86 6,631.01
2016-03-31 26,813.70 800.20 7,006.40
2015-12-31 27,328.00 561.90 5,173.80
2015-09-30 27,328.00 561.90 5,173.80
2015-06-30 22,756.82 584.17 3,551.69
2015-03-31 22,756.82 584.17 3,551.69
2014-12-31 22,578.90 1,644.00 3,491.60
2014-09-30 22,578.90 1,644.00 3,491.60
2014-06-30 19,567.80 459.30 4,113.00
2014-03-31 19,567.86 459.34 4,113.06
2013-12-31 19,501.60 688.90 4,009.80
2013-09-30 19,501.60 688.90 4,009.80
2013-06-30 16,524.89 1,112.35 4,352.44
2013-03-31 16,524.89 1,112.35 4,202.33
2012-12-31
2012-09-30
2012-06-30 13,266.60 3,212.68 3,641.08
  • Pidilite Industries's level of debt (2.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (2.3% vs 2.5% today).
  • Debt is well covered by operating cash flow (717.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 47.4x coverage).
X
Financial health checks
We assess Pidilite Industries's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Pidilite Industries has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

500331 Dividends

 What is Pidilite Industries's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.56%
Current annual income from Pidilite Industries dividends. Estimated to be 0.8% next year.
If you bought ₹2,000 of Pidilite Industries shares you are expected to receive ₹11 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Pidilite Industries's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.55%).
  • Pidilite Industries's dividend is below the markets top 25% of dividend payers in India (2.09%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:500331 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
India Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 162 Stocks 1%
India Market Average Dividend Yield Market Cap Weighted Average of 1398 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BSE:500331 Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 11.94 3.00
2021-03-31 9.69 16.00
2020-03-31 8.40 17.00
BSE:500331 Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-14 6.500 0.563
2018-05-24 6.000 0.540
2017-09-21 4.750 0.531
2016-09-20 4.150 0.580
2016-03-11 7.300 1.096
2015-05-19 2.900 0.517
2014-09-01 2.700 0.547
2014-05-28 2.700 0.803
2013-08-23 2.600 0.926
2012-05-29 1.900 0.872
2012-05-24 1.900 1.138
2011-05-19 1.750 1.101
2010-05-19 1.000 0.720
2009-06-01 0.875 1.057
2009-05-21 0.875 1.443

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Pidilite Industries's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess Pidilite Industries's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Pidilite Industries afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pidilite Industries has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

500331 Management

 What is the CEO of Pidilite Industries's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bharat Puri
COMPENSATION ₹204,500,000
AGE 57
TENURE AS CEO 4.1 years
CEO Bio

Mr. Bharat Puri has been the Managing Director of Pidilite Industries Limited since April 10, 2015. Mr. Puri has been an Independent Director of Tata Global Beverages Limited since May 07, 2019. He served as Head of Global Chocolate Category for Cadbury Limited since October 2008 and served as its Regional Commercial Director. Mr. Puri has been the Architect of the successful “A Cadbury in every pocket” strategy, which yielded significant growth in sales. He served as Managing Director of Mondelez India Foods Limited (Formerly known as Cadbury India Limited) since January 1, 2002. He served as Managing Director of Cadbury Schweppes Asia-Pacific and Director of Sales, Marketing and Exports at Mondelez India Foods Limited (Formerly known as Cadbury India Limited). He joined Mondelez India Foods Limited (Formerly known as Cadbury India Limited) in 1998. Mr. Puri served as Regional Director of Commercial Strategy of Cadbury Schweppe at Mondelez India Foods Limited (Formerly known as Cadbury India Limited). He served as Commercial Strategy Director of Asia Pacific Region of Mondelez India Foods Limited (Formerly known as Cadbury India Limited) since November 2005. He served as Regional Commercial Director of Cadbury plc. He has been an Executive Director at Pidilite Industries Ltd. since May 28, 2008. He served as an Executive Director of Mondelez India Foods Limited (Formerly known as Cadbury India Limited). Mr. Puri holds B. Com and PGDM degrees. He has an MBA from Indian Institute of Management, Ahmedabad.

CEO Compensation
  • Bharat's compensation has increased by more than 20% in the past year.
  • Bharat's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Pidilite Industries management team in years:

4
Average Tenure
57
Average Age
  • The tenure for the Pidilite Industries management team is about average.
Management Team

Madhukar Parekh

TITLE
Executive Chairman
COMPENSATION
₹37M
AGE
72

Bharat Puri

TITLE
MD & Executive Director
COMPENSATION
₹205M
AGE
57
TENURE
4.1 yrs

P. Ganesh

TITLE
Chief Financial Officer
COMPENSATION
₹12M
TENURE
1.5 yrs

Sabyaschi Patnaik

TITLE
Director of Operations & Whole Time Director
COMPENSATION
₹24M
TENURE
4 yrs

Ramnarayan Mohanty

TITLE
President of Technology

Pankaj Bhargava

TITLE
Chief Information Officer

Vivek Sharma

TITLE
Chief Marketing Officer
AGE
53

Rahul Sinha

TITLE
President of Human Resources

Ajay Parekh

TITLE
Whole-Time Director
COMPENSATION
₹63M

Apurva Parekh

TITLE
Whole-Time Director
COMPENSATION
₹53M
Board of Directors Tenure

Average tenure and age of the Pidilite Industries board of directors in years:

5.1
Average Tenure
70.5
Average Age
  • The tenure for the Pidilite Industries board of directors is about average.
Board of Directors

Madhukar Parekh

TITLE
Executive Chairman
COMPENSATION
₹37M
AGE
72
TENURE
4.1 yrs

Bharat Puri

TITLE
MD & Executive Director
COMPENSATION
₹205M
AGE
57
TENURE
11 yrs

Narendrakumar Parekh

TITLE
Non-Executive Vice Chairman
COMPENSATION
₹3M
AGE
80
TENURE
4.1 yrs

Sabyaschi Patnaik

TITLE
Director of Operations & Whole Time Director
COMPENSATION
₹24M
TENURE
4 yrs

Ajay Parekh

TITLE
Whole-Time Director
COMPENSATION
₹63M
TENURE
34.3 yrs

Apurva Parekh

TITLE
Whole-Time Director
COMPENSATION
₹53M
TENURE
13.8 yrs

Bansi Mehta

TITLE
Independent Non Executive Director
COMPENSATION
₹3M
AGE
83

Sanjeev Aga

TITLE
Independent Non Executive Director
COMPENSATION
₹2M
AGE
66
TENURE
7.8 yrs

Uday Khanna

TITLE
Independent Non Executive Director
COMPENSATION
₹2M
AGE
69
TENURE
5.1 yrs

Meera Shankar

TITLE
Independent Non Executive Director
COMPENSATION
₹2M
TENURE
4.8 yrs
Who owns this company?
Recent Insider Trading
  • Pidilite Industries insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
01. Apr 19 Buy Manish Modi Individual 29. Mar 19 29. Mar 19 2,000 ₹1,246.50 ₹2,493,000
25. Mar 19 Buy Manish Modi Individual 22. Mar 19 22. Mar 19 1,000 ₹1,188.45 ₹1,188,450
20. Mar 19 Buy Manish Modi Individual 19. Mar 19 19. Mar 19 700 ₹1,177.81 ₹824,467
07. Mar 19 Sell Jimeet Sanghavi Individual 05. Mar 19 06. Mar 19 -18,300 ₹1,157.17 ₹-21,176,235
23. Nov 18 Buy Ishijas Chemical Pvt Ltd Company 22. Nov 18 22. Nov 18 132,000 ₹1,164.47 ₹153,710,033
24. Sep 18 Sell Rahul Sinha Individual 18. Sep 18 18. Sep 18 -500 ₹1,123.00 ₹-561,500
30. May 18 Sell Jagruti Vashi Individual 29. May 18 29. May 18 -2,500 ₹1,168.10 ₹-2,920,247
X
Management checks
We assess Pidilite Industries's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Pidilite Industries has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

500331 News

Simply Wall St News

Should You Be Tempted To Sell Pidilite Industries Limited (BOM:500331) At Its Current PE Ratio?

and want to better understand how you can grow your money by investing in Pidilite Industries Limited (BOM:500331). … Pidilite Industries Limited (BOM:500331) trades with a trailing P/E of 56.5x, which is higher than the industry average of 19.8x. … Check out our latest analysis for Pidilite Industries

Simply Wall St -

500331 Company Info

Description

Pidilite Industries Limited, together with its subsidiaries, manufactures and sells consumer and specialty chemicals in India and internationally. The company operates in two segments, Consumer & Bazaar Products and Industrial Products. It offers adhesives, sealants, art and craft materials, construction and paint chemicals, and others for use by carpenters, painters, plumbers, mechanics, households, students, offices, etc. The company also provides industrial adhesives, synthetic and industrial resins, organic pigments, pigment preparations, surfactants, etc. for use in various industries, including packaging, textiles, paints, printing inks, paper, leather, and others. In addition, it offers specialty acetates; and waterproofing and heat insulation services. Further, the company manufactures and sells floor coatings; and distributes wood finishes. It sells its products primarily under the Fevicol, Fevicol MR, Dr. Fixit, Fevikwik, M-Seal, Fevistick, Fevicryl, Hobby Ideas, and other brands. Pidilite Industries Limited was founded in 1959 and is based in Mumbai, India.

Details
Name: Pidilite Industries Limited
500331
Exchange: BSE
Founded: 1959
₹590,829,537,468
507,978,280
Website: http://www.pidilite.com
Address: Pidilite Industries Limited
Ramkrishna Mandir Road,
Off. Mathuradas Vasanji Road,
Mumbai,
Maharashtra, 400059,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 500331 Equity Shares Mumbai Stock Exchange IN INR 31. Mar 1995
NSEI PIDILITIND Equity Shares National Stock Exchange of India IN INR 31. Mar 1995
Number of employees
Current staff
Staff numbers
0
Pidilite Industries employees.
Industry
Diversified Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 12:37
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/05/14
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.