Pidilite – Adhesives, Construction Chemicals| Pidilite Integrated Report & Annual Accounts 2022-23

DISCOVER BKP

CENTENARY YEAR OF A

LEGEND WHO STILL

LIVES AMONGST US

LEARNINGS

There is huge amount of knowledge, insights and wisdom which is accessible to everyone. Throughout our life we should seek to learn as much as we can and be willing to change and improve our own thinking and the way we
do things.

LEARNINGS

Learn to accept all situations, however adverse they may be, in a calm manner without despair. Put all your energy and wisdom to improve the situation as well as you can. Frustration and anger should not be allowed to guide
your actions.

LEARNINGS

We all should realise that we stand on the shoulders of a number of individuals, past and present, whose contributions have made us who we are.

LEARNINGS

Treat everyone with full measure of dignity and respect, regardless of their status in life.

LEARNINGS

If you come across something valuable or something which you cherish, do not hold it as a private possession but immediately share it with as many people as possible.
This will multiply your joy and make your life’s
journey worthwhile.

TESTIMONIAL

"I, at once, took to this soft-spoken man with a twinkle in his eyes to me. He is the quintessential Indian that I love. Sharp, intelligent, shrewd, and, at the same time, warm and compassionate. I encountered a man who, I felt, knows himself and life
and accepts both as they are."

Mini Dastoor

Psychoanalyst

"Balvantbhai’s whole life was a link
between Science and Spirituality."

Dr. Kanubhai Kalsaria

Social activist & politician

TESTIMONIAL

"Few people have enriched my life through their integrity and strength. I don’t think I can name more than six but, of this I am certain, Balvant is one of them and I shall be grateful for his existence until the end of my life."

Neville Symington

Senior psychoanalyst in Australia

He dedicated his book ʻThe Blind Man Sees’ to B. K. Parekh.

"He was born in a common merchant (vanika) family of Mahu va, studied up to
BA LLB only, but in common sense, modesty, generosity and gentlemanliness, he would defeat all."

Manubhai Pancholi ‘Darshak’

Novelist, author, educationist & politician

TESTIMONIAL

"Through their eyes, Gandhiji has advised industrialists to be come the trustees of their property. Balavantbhai fully tried to carry out this advice in his own life. Through his behaviour, one could not find any discrimination between master and servant or poor and rich. For him, no individual is small, no work is insignificant."

Usha Mehta

Gandhian & Independence activist

“On this special occasion, we are attempting to pay tribute to our Founder. An original thinker, an evolved and benevolent leader, he achieved excellence in multiple fields.

In his young age he used to maintain a diary capturing some of his thoughts. At the age of 21, after obtaining a law degree and after getting married, he was facing a very uncertain future, with no income, no employment and no place of his own to stay. What were his thoughts at this difficult stage, are captured in his diary reproduced below:

Key Performance Indicators

(STANDALONE)

Net Sales (` in crores)

11,118 | 5.4%

EBIDTA* (` in crores)

2,550 | 37.4%

PROFIT AFTER TAX (` in crores)

(excluding exceptional items)

1,792 | 42.6%

EARNINGS PER SHARE (EPS) (`)

(excluding exceptional items)

35.3 | 42.9%

BOOK VALUE PER SHARE (`)

164 | 17.2%

DIVIDEND PER SHARE (DPS) (`)

16.0 | 45.5%

Y - O - Y Growth/Degrowth

*EBITDA = Profit before tax and exceptional items (PBT)
+finance cost + Depreciation - other income

Net Current Assets (` in crores)

2,607 | 54.4%

Reserves (` in crores)

8,287 | 17.4%

Return on Average
Net Worth (%)

23.2 | 24.2%

Return On Average
Capital Employed (%)

30.00 | 26.5%

Y - O - Y Growth/Degrowth

AWARDS & ACCOLADES

We are committed to creating engaging and humorous content that truly connects with our audience. By seamlessly integrating traditional advertising with a robust digital strategy, we have successfully nurtured a strong and lasting relationship with our community. We are deeply appreciative of the love and recognition our marketing efforts have garnered this year.

Silver for ‘Cause-Based Marketing Campaign' category at the Trendies, 2023 for Fevicol’s quirky film communicating social distancing around the pandemic.

Araldite won the E4M Neon for its OOH activation of a road roller mounted atop billboards in Mumbai and Delhi.

Fevicol received a ‘Baby Elephant’ at Kyoorius Awards, 2023 for the popular short form video content around removing a bindi from the mirror.

Fevicol’s ‘Moment Marketing’ campaign was recognised at the Trendies 2023 and the Maddies 2023.

MARKETING INITIATIVES

DR. FIXIT ROOFSEAL

In the Dr. Fixit Roofseal campaign, consumers are encouraged to use specialized waterproofing products to address leakages and cracks, rather than mistaking roof painting for waterproofing.

ROFF

A quirky pan-India campaign for our tile adhesive brand, Roff, humorously highlights customers' frustrations with cracked, falling tiles, debonding, and unaesthetic appearances caused by using cement instead of specialized adhesives.

FEVICOL MR

Fevicol MR’s new ad campaign showcases the ease of use of its new pack with the core message: ‘Pull Karo,’ ‘Stick Karo,’ ‘Push Karo’. It showcases the brandnew avatar of India’s most loved craft adhesive.

FEVICOL GLUE DROPS

The Fevicol Glue Drops campaign showcases its versatile uses through the setting of Bittu’s birthday to convey that it’s easy to use and leaves no marks.

FEVIKWIK ADVANCED

The Fevikwik Advanced film uses a blend of romantic and humorous settings to showcase the unique features of its latest variant, emphasizing its waterproof property.

FEVISTIK POWER

The Fevistik Power campaign demonstrates how this robust variant works on multiple crafting surfaces, making it the ideal solution for children’s art and craft needs.

FEVIKWIK GEL

Fevikwik Gel’s campaign, titled ‘Galti Sudharne Ka Mauka De,’ highlights the product’s 30-second adjustment window, which allows consumers to align surfaces properly and showcases its effectiveness in real-life situations.

IMPACTFUL STRATEGIES

Roff, the tile adhesive brand, partnered with the highly acclaimed Pro Kabaddi League, reinforcing the brand’s core message of strong bonds and enduring strength in fixing tiles.

Fevicreate Idealabs, Pidilite’s annual science-based art and craft competition, televised the event finale for the first time on Nickelodeon, Sonic, and Jio Cinema.

Araldite boldly elevated its ‘Jode Kuch Bhi' communication outdoors by sticking a road roller atop a billboard in the bustling streets of Mumbai and Delhi.

FINANCIAL REVIEW

Consolidated Net Sales grew by

5.0%

“EBITDA” (Earnings before Interest, Taxes, Depreciation and Exceptional items) before non-operating income, grew by

36.4%

Profit Before Tax and Exceptional Items (PBT) grew by

42.2%

Profit After Tax (PAT) grew by

35.6%

On a constant currency basis, the overseas subsidiaries reported decline in sales of

7.4%

and EBITDA grew by

14.9%

Domestic subsidiaries sales grew by

15.8%

and EBITDA grew by

32.3%

Net sales grew by

5.4%

Profit Before Tax and exceptional items (PBT) grew by

43.7%

EBITDA (excluding non-operating income) grew by

37.4%

Profit After Tax (PAT) grew by

43.1%

BUSINESS SEGMENT/PRODUCT CATEGORY% (FY 2024)

Standalone - % of Total Sales based on FY 2023-24

PERFORMANCE BY
INDUSTRY SEGMENT

(STANDALONE)

Branded Consumer & Bazaar segment contributed

of the sales of the Company and grew by

Adhesives & Sealants category (adhesives, sealants & tapes) contributed

of the sales of the Company and grew by

Construction and Paint Chemicals contributed

of the sales of the Company and grew by

Art & Craft Materials etc. contributed

of the sales of the Company and grew by

Business to Business segment contributed

17.0%

of the sales of the Company and grew by

3.5%

Industrial Adhesives includes adhesives used in packaging, footwear, cigarettes, automotive industry and joinery. This category contributed

5.2%

of sales of the Company and declined by

1.7%

Industrial Resins, Construction Chemicals (Projects) etc. contributed

8.4%

of the sales of the Company and grew by

17.3%

Pigments and Preparations contributed

3.4%

of sales of the Company and declined by

14.2%

Others

Others mainly includes sale of raw materials.

SOCIAL & COMMUNITY SERVICE INITIATIVES

The Company has been engaging in and supporting various social and community service initiatives for the past several years, even before the concept of Corporate Social Responsibility and the statutory requirement thereof came into being. Some of the key initiatives of the Company, in the sphere of social and community services as stated below, have resulted in significant value creation for the community at large.