CLSA retains sell on Pidilite Industries on competition, raw material cost issues

Pidilite Industries | Company reported consolidated profit at Rs 356.4 crore in Q2FY21 against Rs 325 crore, revenue rose to Rs 1,880.3 crore from Rs 1,806.6 crore YoY.

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26 Aug, 2025 12:21

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Citing impact of raw material costs and rising competition, global investment bank, CLSA, has retained its sell call on Pidilite Industries with a target of Rs 870.

The firm also highlighted that competition is seen rising in its core category of adhesives, which constituted 55 percent of its FY17 revenue.

Further, it said that Astral has scaled up India adhesives portfolio & now competes with the company. Margin expansion appears to be at risk with a rebound in crude prices.

Speaking on the valuations, it believes at 40 times FY20, there is little upside to the stock.

At 11:46 hrs Pidilite Industries was quoting at Rs 904.85, down Rs 7.55, or 0.83 percent, on the BSE. It touched an intraday high of Rs 911.30 and an intraday low of Rs 902.90.