Pidilite Industries Dividend 2023: Pidilite Industries on Monday, 8th May, released its financial results for the quarter ended March 2023 and declared a dividend of Rs 11 per equity share — which translates to 1100 per cent against the face value of Re 1 per equity share. Overall, the company reported a 12 per cent increase in consolidated net profit at Rs 285.86 crore for the fourth quarter, led by moderation in input costs and growth in domestic demand. The company, which manufactures adhesives, sealants and construction chemicals, had logged a profit of Rs 254.35 crore in the year-ago period.

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In the the exchange filing the maker of Fevicol said: "The Board of Directors have recommended a Dividend of Rs 11/- (Rupees Eleven Only) per equity share of Re.1/- each for the financial year ended 31st March, 2023. Subject to the approval of the shareholders at the 54th Annual General Meeting, the dividend will be paid to the shareholders within a period of 30 days from the date of the 54th Annual General Meeting."

Pidilite Industries Dividend 2023: Payment Date

The company mentioned in its exchange filing that the dividend will be paid to investors within 30 days — before 8 June, 2023.

Pidilite Industries Q4 Results

The company's revenue from operations was up 7.26 per cent at Rs 2,689.25 crore during the quarter under review. It stood at Rs 2,507.10 crore in the same period a year ago, according to a regulatory filing.

"Moderation in input costs led to improvement in gross margin, both sequentially and over the previous year. Part of the benefits of margin improvement were invested in market-facing initiatives for channel and consumer," an earnings statement from the company said.

The total income in the latest March quarter was up 7.69 per cent to Rs 2,712.07 crore while total expenses rose to Rs 2,318.09 crore during the same period.

Its revenue from the 'Consumer & Bazaar' segment was up 10.42 per cent at Rs 2,112.76 crore in the January-March quarter.

However, revenue from the business-to-business segment was down 1.75 per cent to Rs 633.98 crore, in the March quarter of FY23 as against Rs 645.28 crore a year ago.

"In the current quarter, Domestic C&B business revenues grew by 10 per cent underpinned by strong volume growth of 7 per cent. B2B businesses faced headwinds due to lower exports and lower demand from businesses dependent on exports. The demand from rural and semi-urban improved during the quarter," the company said.

For the financial year ended March 31, 2023, Pidilite Industries' net profit increased 6.8 per cent to Rs 1,288.87 crore. It was at Rs 1,206.76 crore in FY22.

Its consolidated revenue from operations in FY23 increased 18.93 per cent to Rs 11,799.10 crore.

Pidilite Industries Q4 Results: What the company said?

Comenting on the result, Pidilite Industries Managing Director Bharat Puri said, "The current quarter's revenue growth is primarily driven by domestic demand. Gross margin improved during the quarter enabled by the easing of input prices. This enabled us to reinvest in our brands as well as the route to market."

"Despite the challenging environment on both the demand as well as input cost fronts throughout the year, we have delivered broad-based, robust value and volume growth across our businesses in geographies with revenue crossing Rs 11,000 crore for the first time," he added.

"While the near-term environment is likely to remain uncertain, we look forward to the future with cautious optimism. The moderation in input costs, easing of inflation and the growth in infrastructure and construction should enable us to deliver volume lead profitable growth. We remain committed to delivering broad-based consistent volume growth while continuing to invest in our brands, building capabilities across the digital landscape as well as building a resilient and future-ready supply chain," he further added.