from the chairman’s desk

All Pidilitians have dealt with yet another challenging year in an effective manner. It has been heartnening to see so many members of our Pidilite Parivaar go beyond their call of duty and show great sense of ownership, compassion and courage. Their actions reflect the true Spirit of Pidilite.

This year’s Report celebrates this very spirit with stories which represent our values, culture and ways of working.

M B Parekh

Chairman

KEY PERFORMANCE INDICATORS
(STANDALONE)

NET SALES (` in crores)
EBITDA (` in crores)
PROFIT AFTER TAX (` in crores)

(excluding exceptional items)

EARNINGS PER SHARE (EPS) (`)

(excluding exceptional items)

BOOK VALUE PER SHARE (`)
DIVIDEND PER SHARE (DPS) (`)
NET CURRENT ASSETS (` in crores)
RESERVES (` in crores)
RETURN ON
AVERAGE NET WORTH (%)
RETURN ON AVERAGE
CAPITAL EMPLOYED (%)

MARKETING


INITIATIVES

The year 2021-22 was another year of campaigns that forged deep emotional connect with consumers and end-users, while continuing to build new segments and categories. We launched new campaigns for Fevikwik and Fevistik and did an engaging association with 83 - The Movie. We also took the Dr. Fixit campaign that was launched in two states last year, nationwide.

Our digital marketing initiatives in form of social media posts and videos tapped into topical trends in a fun and quirky manner and helped build brand love. Pidilite bagged 30+ advertising & marketing awards during the year including yet another EFFIE Gold for Fevikwik’s “Phenko Nahi Jodo” campaign and a Kyoorius Blue Elephant for Fevicol’s social distancing campaign.

ADVERTISING CAMPAIGNS

The Dr. FIXIT RANG ROGAN television campaign featuring Mr. Amitabh Bachchan highlighting the advantages of Dr. Fixit Roofseal Topcoat over ordinary paints, that was launched in two states last year, was aired nationally.

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SOCIAL MEDIA HIGHLIGHTS

This year, the brand’s social media posts on an event involving a major cola brand and a star footballer went viral with customers appreciating the brand’s smart take on the incident, that reinforced the brand promise of “mazboot jod”.

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NEW INITIATIVES

A new brand identity – Dr. Cipy
CIPY Polyurethanes Pvt. Ltd, a floor coating company was acquired in 2018. In 2021, the Company, rebranded CIPY Polyurethanes as Dr. Cipy giving it a distinct Pidilite brand identity while retaining the core and expertise of its founder Dr Subash Cipy.

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INTERNATIONAL MARKETS EXPANSION

Pidilite East Africa Limited, a JV between Pidilite International Pte. Ltd. and Crown Classic, launched a range of modern tile-adhesives, grouts and water-proofing products under the Dr. Fixit brand in Kenya, Uganda and Rwanda.

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AWARDS & ACCOLADES

The year 2021-22 was a rewarding year for Pidilite as many of its brands won multiple awards across various categories.

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PERFORMANCE BY INDUSTRY SEGMENT
(STANDALONE)

Business to Business segment contributed

19.7%

of the sales of the Company and grew by

45.3%

with volume and mix growth of

20.2%

Industrial Adhesives includes adhesives used in packaging, footwear, cigarette, automotive industry and joinery. This category contributed

6.5%

of sales of the Company and grew by

50.7%

Industrial Resins, Construction Chemicals (Projects) etc. contributed

7.2%

of the sales of the Company and grew by

51.0%

Pigments and Preparations contributed

6.0%

of the sales of the Company and grew by

34.0%

SOCIAL &


COMMUNITY


SERVICE


INITIATIVES


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The Company is committed to sustainable development through economic, social and environmental betterment to improve the quality of life of the local communities and their wellbeing. The Company over years, has been engaging in various social and community initiatives towards agriculture, animal husbandry, health, education, woman empowerment and water conservation etc. These initiatives undertaken directly by the Company and through various organisations, are spread across the states of Gujarat, Maharashtra, Himachal Pradesh and Rajasthan.

1

WHAT DRIVES US

FRESH & ORIGINAL THINKING

Fresh & original thinking is the basis on which we have taken large number of initiatives since our inception. This has enabled us to pioneer product categories and business segments.

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2

WHAT KEEPS US MOVING

‘CAN DO’ & ‘WILL DO’ ATTITUDE

A person equipped with ‘can do’ and ‘will do’ attitude is the right person to take up any difficult challenge to achieve objectives.

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3

WHAT GROUNDS US

EMPATHY

Empathy for all our stakeholders plays an important role in our culture. Stakeholders include our employees, shareholders, customers, users, dealers, etc. Empathy leads us to experience same feelings as experienced by our stakeholders.

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4

WHAT KEEPS US CONNECTED

CLOSE CONNECT WITH USERS

Close connect with users goes much beyond selling them our products and services. We not only coach them on how to do well in their business but also care about their well-being.

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5

WHAT KEEPS US MOTIVATED

ACTING LIKE AN OWNER

Our employees have a strong sense of belonging which motivates them to go beyond the call of duty and exhibit a high degree of ownership.

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6

WHAT INSPIRES US

COMMITMENT TO COMMUNITY

We have to be sensitive to the needs of the community with an obligation to do our best to address those needs.

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Management discussion & analysis

Standalone financial statements

Corporate governance report & compliance certificates

Consolidated financial statements