Pidilite’s revenue growth of 9–11% CAGR (base) driven by domestic resilience and adhesive penetration, with ±3% export variance. PAT CAGR at 12–15% (base) on 24–25% margins; bull case hinges on EU trade deal, bear case on shocks. EBITDA corridor: 20–24%.
1–2 minutes
3-Scenario Framework
📊 Base Case (50% Probability)
Key Variables: (1) U.S. tariffs resolved by Q1 FY27 (exports flat YoY); (2) Tile adhesive penetration sustains 15–18% CAGR; (3) A&SP delivers +50 bps UVG uplift. Outcome:Revenue growth 9–11%, EBITDA margin 24–25% (gross margin tailwinds offset by A&SP). Dr. Fixit/Roff outperform; pioneering segments contribute <5% revenue. Valuation supports 20–22x PE, in line with historical premium.
