New Delhi: India’s Pidilite Industries Ltd (PIDI.NS), maker of adhesive model Fevicol, on Monday reported an increase in fourth-quarter revenue, helped by easing uncooked materials prices and robust demand. The firm’s consolidated web revenue rose 11.3% to 2.83 billion rupees ($34.6 million) for the quarter ended March 31, it mentioned in an alternate submitting.
Consolidated income from operations rose 7.3% to 26.89 billion rupees, primarily pushed by enchancment in rural and semi-urban demand through the quarter, Pidilite added. The firm, additionally identified for its waterproofing product Dr. Fixit, mentioned its uncooked materials prices dropped 8.3% to 12.97 billion rupees within the quarter, which helped enhance its gross margins.
The shopper and bazaar phase, which sells adhesives, craft supplies and building and paint chemical substances to retail customers and accounts for practically 80% of Pidilite’s income, posted a income progress of 10.45%. “The moderation in input costs, easing of inflation and the growth in infrastructure and construction should enable us to deliver volume lead profitable growth,” mentioned Managing Director Bharat Puri.
However, the near-term surroundings is more likely to stay unsure, Puri added. Pidilite’s shares closed 0.9% decrease forward of the outcomes. The firm beneficial a dividend of 11 rupees per share for the fiscal yr 2023.
Source: zeenews.india.com
