Pidilite Industries Q2 Review - Strong Demand In Disruptive Environment A Positive: Prabhudas Lilladher
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Prabhudas Lilladher Report
We are increasing FY22/23/24 earnings per share estimate of Pidilite Industries Ltd. by 7.7%/4.1%/5.0% on account of:
robust demand environment,
sustained pick up in organised real estate and
calibrated price increase covering 70% inflation.
Pidilite Industries continues to remain a structural pick given:
market leadership in a low penetrated waterproofing industry,
emerging opportunities in high margin Epoxy adhesives (65% share),
market share gains from unorganised and regional players and
increased focus on digital initiatives, investment in supply chain and rural distribution ensuring strengthening of growth enablers.
Pidilite Industries is confident of sustaining growth despite aggression of paint companies in waterproofing.
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