Hold Pidilite Industries, target price Rs 2535: ICICI Direct

ICICI Direct has hold call on Pidilite Industries with a target price of Rs 2535. The current market price of Pidilite Industries is Rs 2278.3. Time period given by analyst is 12 months when Pidilite Industries price can reach defined target.


Pidilite Industries, incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 117688.91 Crore) operating in Diversified sector.


Pidilite Industries key Products/Revenue Segments include Chemical Product, Scrap, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 3002.72 Crore, down -.64 % from last quarter Total Income of Rs 3022.13 Crore and up 5.14 % from last year same quarter Total Income of Rs 2855.89 Crore. Company has reported net profit after tax of Rs 306.14 Crore in latest quarter.

The company’s top management includes Mr.M B Parekh, Mr.B S Mehta, Mr.Rajeev Vasudeva, Mr.Piyush Pandey, Mr.Vinod Dasari, Mrs.Meera Shankar, Mr.Uday Khanna, Mr.Sanjeev Aga, Mr.Debabrata Gupta, Mr.A N Parekh, Mr.Sudhanshu Vats, Mr.Bharat Puri, Mr.A B Parekh, Mr.N K Parekh, Mr.Meher Pudumjee. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-12-2022, the company has a total of 51 Crore shares outstanding.

Investment Rationale
Revival in the real estate business will be a key demand driver for C&B segment, going forward. Further, addition of premium products in the portfolio such as Araldite, cost optimisation measures will help drive EBITDA margin of the company.