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India's largest adhesives and construction chemicals maker, best known for Fevicol glue and Fevikwik instant adhesive.
India's largest adhesives and construction chemicals maker, best known for Fevicol glue and Fevikwik instant adhesive.
Sells through a very wide network of dealers and hardware shops to carpenters and contractors who ask for the brand by name, so retail reach, not contracts, drives sales. Consumer and bazaar products carry the company, with industrial adhesives and pigments a smaller business-to-business arm. A 2020 purchase of Huntsman's Araldite adhesive business in India added a second household brand.
In one line: India's Henkel/H.B. Fuller.
Moat: wide (brand, distribution). Fevicol is a category-defining household brand with an extensive distribution network built over decades.
Headquarters: Mumbai, India · Founded: 1959 · Employees: 14,615
Size Pidilite Industries (PIDILITIND.NS) is an India Materials company (Industrial Specialties) with a market value of $17.0B, the 59th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,579 on 6 Nov 2026.
Performance Over six months the shares gained 8.9%, against +0.7% for the median peer and 0.0% for the India market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 16.8% over the last twelve months (peer median +12.2%); the operating margin is 21.2% (peer median 13.4%).
Valuation It trades at 56.8× forward earnings against a peer median of 16.8× (3rd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 40% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is +25 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 16.4 points above its cost of capital (15.2% WACC).
Next results Next results expected around 26 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹161B | ₹146B | ₹131B | ₹124B | ₹118B |
| Revenue growth | — | +11% | +6% | +5% | — |
| Gross profit | ₹62.3B | ₹50.3B | ₹44.4B | ₹40.5B | ₹30.3B |
| EBITDA | ₹38.2B | ₹35.9B | ₹30.5B | ₹27.4B | ₹20.4B |
| Net income | ₹26.8B | ₹24.5B | ₹20.8B | ₹17.3B | ₹12.7B |
| Free cash flow | n/a | ₹22.3B | ₹18.4B | ₹21.6B | ₹10.2B |
| Capital expenditure | n/a | ₹5.93B | ₹4.52B | ₹5.59B | ₹5.05B |
| Total debt | ₹3.51B | ₹4.17B | ₹4.54B | ₹3.82B | ₹3.91B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Pidilite Industries PIDILITIND.NS | $17.0B | +9% | +17% | 21% | 56.8× | 40.3% |
| Henkel AG & Co. KGaA HEN.DE | $35.4B | +25% | -3% | 15% | 13.6× | -1.9% |
| H.B. Fuller FUL | $2.68B | -19% | +1% | 11% | 9.5× | 3.5% |
| Astral ASTRAL.NS | $3.57B | -20% | +17% | 12% | 46.8× | 32.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PIDILITIND.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.1% | +1.0% | 7th highest of 21 |
| 6-month return | +8.9% | +0.7% | 9th highest of 21 |
| Distance from 52-week high | -7.5% | -16.9% | 7th highest of 21 |
| Revenue growth (TTM) | +16.8% | +12.2% | 9th highest of 21 |
| Operating margin | 21.2% | 13.4% | 4th highest of 21 |
| Forward P/E | 56.8× | 16.8× | 3rd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 40.3% | 9.5% | 2nd most demanding of 17 |
| Growth delivered (Del g) | +14.9% | +10.3% | 6th highest of 17 |
| Hurdle (Req g minus delivered) | +25.4 pp | +2.1 pp | 3rd most demanding of 17 |
| ROIC minus cost of capital | +16.4 pp | +2.4 pp | 2nd highest of 21 |
| EV / EBITDA | 41.1× | 12.2× | 2nd most expensive of 15 |
| Net debt / EBITDA | -0.9× | 1.4× | least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Pidilite Industries PIDILITIND.NS | India | $17.0B | +9% | +17% | 21% | 56.8× | 40.3% | +14.9% |
| China Jushi 600176.SS | China | $16.6B | -20% | +27% | 34% | 13.5× | 14.6% | +10.1% |
| Solar Industries India SOLARINDS.NS | India | $17.8B | +17% | +53% | 25% | 64.6× | n/a | n/a |
| Nippon Paint 4612.T | Japan | $20.4B | +40% | +16% | 15% | 16.6× | 1.9% | +18.1% |
| RPM International RPM | United States | $13.2B | +2% | +6% | 13% | 16.9× | 7.5% | +5.2% |
| Akzo Nobel AKZA.AS | Netherlands | $12.1B | +26% | -5% | 6% | 16.1× | 10.7% | +3.6% |
| Asian Paints ASIANPAINT.NS | India | $25.9B | +1% | +12% | 16% | 47.5× | 37.3% | +10.6% |
| PPG Industries PPG | United States | $27.0B | +12% | +6% | 13% | 14.6× | 7.1% | +2.8% |
| Wanhua Chemical 600309.SS | China | $34.1B | -19% | +37% | 11% | 11.3× | -2.6% | +22.7% |
| Henkel AG & Co. KGaA HEN.DE | Germany | $35.4B | +25% | -3% | 15% | 13.6× | -1.9% | +1.3% |
| Axalta Coating Systems AXTA | United States | $7.80B | +25% | 0% | 14% | 14.0× | 8.3% | +6.5% |
| Srf SRF.NS | India | $7.67B | -11% | +20% | 19% | 30.3× | 25.2% | +13.5% |
| Orica ORI.AX | Australia | $7.23B | +1% | +2% | 11% | 18.2× | 6.9% | +9.6% |
| Sekisui Chemical 4204.T | Japan | $6.61B | +9% | +6% | 9% | 13.4× | n/a | n/a |
| Berger Paints India BERGEPAINT.NS | India | $5.90B | -2% | +5% | 12% | 41.5× | 38.5% | +11.8% |
| Fuchs FPE.DE | Germany | $5.87B | +21% | +12% | 13% | 13.8× | -4.4% | +8.4% |
| Taiwan Glass Industry 1802.TW | Taiwan | $5.08B | -21% | +12% | 12% | 16.7× | n/a | n/a |
| SICC 688234.SS | China | $4.98B | -24% | +20% | -5% | 202.4× | n/a | n/a |
| Sichuan EM Technology 601208.SS | China | $4.88B | -15% | +23% | 7% | 51.1× | 44.5% | +22.5% |
| Sunresin New Materials 300487.SZ | China | $4.77B | -2% | +17% | 36% | 31.2× | 19.0% | +24.7% |
| CSW Industrials CSW | United States | $4.43B | 0% | +30% | 18% | 20.8× | 13.5% | +20.9% |