Brands
Pidilite earnings call: Q3 revenue up 11 per cent, exports slide 13.5 per cent
Domestic volumes rose 11 per cent while exports fell 13.5 per cent, management says
MUMBAI: Pidilite Industries delivered a resilient third quarter, leaning on strong domestic volumes to cushion a sharp export slowdown, management said during its Q3 FY26 earnings call on 4 February.
The Mumbai-based adhesives and construction chemicals maker reported standalone revenue of Rs 3,425 crore, up 11 per cent year on year, driven by underlying volume growth of 9.3 per cent. Domestic volumes grew 11 per cent, extending a recovery trend seen over the past eight quarters, while exports fell 13.5 per cent amid geopolitical disruptions.
Standalone Ebitda margin improved by around 24 basis points to 24.5 per cent, aided by softer input costs, even as the company stepped up advertising and brand investments. Profit after tax rose 12.5 per cent. Consolidated revenue increased 10.2 per cent to just under Rs 3,700 crore.
Managing director Sudhanshu Vats, said the export decline was largely concentrated in the pigments business, which has direct exposure to the US and remains affected by tariff uncertainty. While a potential tariff resolution is still several months away, he said the worst of the export impact was likely behind the company.
Domestic B2B volumes delivered mid-teens growth, with management aiming to restore overall B2B growth to similar levels. The consumer and bazaar segment posted volume growth of 9.7 per cent during the quarter.
The company incurred a one-time charge of Rs 47 crore at the standalone level under the new wage code, covering gratuity and leave encashment provisions.
Vats reiterated Pidilite’s intent to build Roff as its next large brand, following what he described as the company’s “classic playbook”. He said Roff’s positioning remains distinct from mass FMCG cleaning brands, anchored in its adjacency to tiling and construction activity rather than general household use.
Joint managing director Kavinder Singh, said demand across the construction portfolio remained robust, with no signs of slowdown across residential, commercial, infrastructure or industrial segments. Around 70 to 75 per cent of Pidilite’s construction-linked business continues to come from repair and renovation, providing insulation from any slowdown in new builds.
The tile adhesive category, which replaces traditional cement usage, is growing at an estimated 18 to 20 per cent, driven by penetration gains rather than overall tile demand. Management said Pidilite expects to continue outgrowing the category through pricing discipline and distributed manufacturing.
Beyond its core businesses, the company continues to invest in emerging segments such as electronic adhesives, which involve long testing cycles but offer strategic long-term potential. Haisha Paints remains in a calibrated rollout phase, with a wider launch contingent on establishing a clear operating model.
Chief financial officer Sandeep Batra said the company would continue to prioritise growth over short-term margin optimisation, reaffirming its long-term consolidated Ebitda comfort corridor of 20 to 24 per cent.
Brands
Infosys invests Rs 290 crore to expand Mohali development centre
New 350,000 sq ft facility to house 3,000 employees and boost AI work.
MUMBAI: In India’s tech corridors, even the skyline is beginning to look a little more digital. Infosys has begun expanding its development centre in Mohali with an investment of around Rs 290 crore, strengthening its presence in North India as demand grows for artificial intelligence and cloud driven enterprise solutions. The expansion project was marked by a groundbreaking ceremony attended by senior company leaders and officials from the Punjab government, according to a report by The Times of India.
The new development will include a dedicated software development block along with additional infrastructure to support the company’s growing operations.
Once completed, the facility will add approximately 350,000 square feet of built up space and is expected to accommodate around 3,000 employees. The expanded campus will support the development and deployment of large scale technology solutions across areas such as artificial intelligence, cloud computing, application development and broader digital transformation programmes.
Infosys currently employs close to 1,000 professionals at its Mohali centre, where teams deliver digital services to global clients across industries including banking and financial services, retail and healthcare.
The expansion is also expected to strengthen the region’s technology ecosystem by generating new employment opportunities and increasing the availability of skilled talent in the area.
With the additional infrastructure, Infosys plans to expand its work on AI led enterprise solutions, while improving operational agility and enabling more flexible hybrid working arrangements for its workforce.
As companies around the world accelerate their digital transformation journeys, the expanded Mohali campus is expected to play a growing role in supporting enterprise clients adopting AI driven innovation and next generation technology platforms.
