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2024 ASI Top 20: Pidilite Industries Ltd.

Established in 1959, Pidilite Industries is a leading manufacturer of adhesives and sealants, and construction chemicals, craftsman products, DIY products, and polymer emulsions in India. Company brands include Fevicol, M-Seal, Fevikwik, Fevistik, and Dr. Fixit.

Pidilite operates with three main business segments: Consumer & Bazaar (82.5% of total net sales), Business to Business (17.0%), and Others (0.5%). The company’s consolidated net sales in its 2024 fiscal year (ended March 31, 2024) were Rs 12,337 cr (approximately $1.480 billion), representing an increase of 5% over the prior fiscal year. The company attributed increased sales to robust underlying volume growth across categories and geographies and an improvement in product mix. The Business to Business segment and the Consumer & Bazaar segment both saw growth in the fiscal year 2024.

Adhesives and sealants products produced in the Consumer & Bazaar segment represented 55.5% of total net sales for the year, or approximately Rs 6,847 cr (~ $822 million). Pidilite also produces industrial sealants in the Business to Business segment. Sales here reached about Rs 641.5 cr (~ $77 million), or 5.2% of total sales.

With over 8,900 global employees, Pidilite operates manufacturing facilities in India, the U.S., Thailand, Dubai, Brazil, Egypt, Bangladesh, Sri Lanka, and Kenya. The company has five R&D centers (three in India and one each in Singapore and the U.S.).

Opening image courtesy of courtesy of Bramantya W.J. / Creatas Video+ / Getty Images Plus.

No. 12 | Pidilite Industries Ltd.

Mumbai, India
Chairman: Madhukar Parekh
Sources: company website, press releases, analyst presentation

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