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Hold Pidilite Industries; target of Rs 2000: ICICI Direct

ICICI Direct recommended hold rating on Pidilite Industries with a target price of Rs 2000 in its research report dated May 20, 2022.

May 21, 2022 / 08:49 PM IST
 
 
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ICICI Direct's research report on Pidilite Industries


Pidilite is a market leader in the adhesive and sealants business. The company’s consumer & bazaar (C&B) segment (adhesives & sealants, construction & paint chemical, art & craft materials) contributes 80% to topline while the B2B segment (industrial adhesive, resins and pigments) contributes ~20% to topline. Has 4800+ distributors, strong balance sheet (RoE, 19%, RoCE, 22%).



Outlook


We maintain our HOLD rating on the stock. We value Pidilite at Rs 2000, 62x P/E of FY24E EPS.

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first published: May 21, 2022 08:49 pm
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