Interim report
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Regd. Office Regent Chambers, 7th Floor Jamnalal Bajaj Marg 208 Nariman Point Mumbai 400 021 Pidilite Industries Limited Corporate Office Ramkrishna Mandir Road Andheri - E, Mumbai 400059, India T + 91 22 2835 7000 2835 7952 / 2835 7365 F +91 22 2830 4482 www.pidilite.com ClN:L24100MH1969PLC014336 28th October, 2026 The Secretary The Secretary BSE Ltd. National Stock Exchange of India Ltd. Corporate Relationship Dept., Exchange Plaza, Plot no. C/1, G Block, 14th floor, P. J. Tower, Bandra-Kurla Complex, Dalal Street, Fort Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Stock Code – 500331 Stock Code - PIDILITIND Dear Sir, Sub: Unaudited Financial Results (Standalone and Consolidated) for the Quarter and Six months ended 30th September, 2026 Pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), we are enclosing the Unaudited Financial Results (Standalone and Consolidated) along with Statement of Assets and Liabilities and Statement of Cash Flow of the Company, for the quarter and six months ended 30th September, 2026, duly approved by the Board of Directors of the Company, at its meeting held today. The meeting of the Board of Directors of the Company commenced at 02.00 p.m. and concluded at 6:30 p.m. We also enclose a copy of the Limited Review Report of the Auditors of the Company, as required under Regulation 33 of the Listing Regulations. Kindly acknowledge receipt. Thanking you, Yours faithfully, For Pidilite Industries Limited Manisha Shetty Company Secretary Encl: As above
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B S R & Co. LLP Chartered Accountants 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai — 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010 Limited Review Report on unaudited standalone financial results of Pidilite Industries Limited for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Pidilite Industries Limited 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Pidilite Industries Limited (hereinafter referred to as "the Company") for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 ("the Statement") (in which are included interim financial information of four branches Sri Lanka {upto 03 June 2026), Egypt, Bangladesh and Tanzania). 2. This Statement, which is the responsibility of the Company's management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022 If Sudhir Soni Partner Mumbai Membership No.: 041870 28 October 2026 UDIN:26041870TDJGEV4385 Registered Office: B S R & Co (a partnership firm with Registration No BA61223) converted into B S R & Co LLP (a 14th Floor, Central B Wng and North C Wng, Nesco IT Park 4, Nesco Limited Liability Partnership with LLP Registration No AAB-8181) with effect from October 14, 2013 Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 1
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PI din to PIDILITE INDUSTRIES LIMITED REGD OFFICE : 7th Floor, Regent Chambers, Jamnalal Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : investor.relations@pidilite.co.in Website : www pidilite corn CIN : L24100MH1969PLC014336 STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30.09.2026 Rs in Crores Sr. No. Particulars For the Quarter ended For the Six Months ended For the Year ended 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Income a) Revenue from Operations 3994.57 4249.38 3287.31 8243.95 6766 61 13487.59 t) Other Income 129.69 94.27 68.51 223,96 152.69 278.51 Total Income 4124.26 4343.65 3355.82 8467.91 6919.30 13766.10 2 Expenses a) Cost of materials consumed 1750.38 1754.36 1244.37 3504.74 2525.66 5123.67 t) Purchases of stock-in-trade c) Changes in inventories of finished goods, stock-in-trade 365.12 277 42 225 13 642.54 444.99 963.57 and work-in-progress (9.60) (19.40) 27.18 (29.00) 142 50 (4.00) c) Employee benefits expense 449.27 453.58 414.03 902 85 823.57 1710.27 e) Finance costs 10.89 10.90 10.19 21.79 20.38 40.75 f Depreciation, Amortisation and Impairment Expense 87.72 84.49 85.43 172.21 168.20 336.25 c) Other expenses 628.24 662.78 569.74 1291.02 1134.86 2393.70 Total Expenses 3282.02 3224.13 2576.07 6506.15 5260.16 10564.21 3 Profit before exceptional items and tax (1-2) 842.24 1119.52 779.75 1961.76 1659.14 3201.89 4 Exceptional items (Refer note 4) - - 7.55 5 Profit before tax (3-4) 842.24 1119.52 779.75 1961.76 1659.14 3194.34 6 Tax Expense Current tax 212.32 281.80 200 81 494.12 422 69 800.13 Deferred tax (17.08) 7.85 (6 96) (9.23) 0 75 9.91 7 Profit For the period (5-6) 647.00 829.87 585.90 1476.87 1235.70 2384.30 8 Other Comprehensive Income l'ems that will not be reclassified to profit or loss (0 16) (0.16) (3 78) (0 32) (7 56) (0 64) hcome tax relating to items that will not be reclassified to profit or loss 0.04 0.04 0.95 0 08 1.90 0.16 9 Total Comprehensive Income for the period (7+8) 646.88 829.75 583.07 1476.63 1230.04 2383.82 10 Paid-up Equity Share Capital (Face value of share : Re. 11-) 101.85 101.78 101.77 101.85 101.77 101.78 11 Other Equity 10563.59 12 Earnings per equity share in INR a) Basic @ 6.36 @ 8.15 @ 5.76 @ 14.51 @ 12.15 23.43 3) Diluted 2 6.35 @ 8.13 @ 5.74 @ 14.48 @ 12.12 23.37 For the period only and not annualised. See accompanying Notes to Unaudited Standalone Financial Results
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* Nescc 01- 14th " CenlralE No:th Q Westn e ro Ss. Pldilite STANDALONE SEGMENT INFORMATION FOR THE QUARTER AND SIX MONTHS ENDED 30.09.2026 Rs in Crores Sr. No. . rti Paculars For the Quarter ended For the Six Months ended For the Year ended 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 1 Segment Revenue Unaudited Unaudited Unaudited Unaudited Unaudited Audited a) Consumer & Bazaar 3197.82 3458.25 2650.38 6656.07 5474.02 10836.94 b) Business to Business 820.37 820.97 673.31 1641.34 1381.06 2800.39 c) Others 24.57 20.87 13.82 45.44 28.05 58.33 Total 4042.76 4300.09 3337.51 8342.85 6883.13 13695.66 Less : Inter Segment Revenue 48.19 50.71 50.20 98.90 116.52 208.07 Revenue from Operations 3994.57 4249.38 3287.31 8243.95 6766.61 13487.59 2 Segment Results a) Consumer & Bazaar 840.99 1127.10 820.62 1968.09 1724.42 3381.96 b) Business to Business 115.37 169.57 119.47 284.94 250.71 512.82 c) Others 1.23 1.05 - 2.28 1.57 0.04 Total 957.59 1297.72 940.09 2255.31 1976.70 3894.82 Less : i) Finance Costs ii) Other Unallocable Expenditure net of 6.27 6.23 6.46 12.50 12.54 25.35 Unallocable Income 109.08 171.97 153.88 281.05 305.02 667.58 Profit Before Exceptional Item and Tax 842.24 1119.52 779.75 1961.76 1659.14 3201.89 Exceptional Items - - - - - 7.55 Profit Before Tax 842.24 1119.52 779.75 1961.76 1659.14 3194.34 3 Segment Assets a) Consumer & Bazaar 8188.67 7950.20 6908.46 8188.67 6908.46 7321.04 b) Business to Business 1923.12 1871.22 1724.82 1923.12 1724.82 1761.85 c) Others 16.11 16.00 12.64 16.11 12.64 15.30 d) Unallocated 5340.10 6290.22 4491.55 5340.10 4491.55 5523.11 Total Assets 15468.00 16127.64 13137.47 15468.00 13137.47 14621.30 4 Segment Liabilities a) Consumer & Bazaar 3111.83 3177.17 2497.99 3111.83 2497.99 2772.12 b) Business to Business 653.86 715.94 537.00 653.86 537.00 629.85 c) Others 2.25 2.36 1.52 2.25 1.52 1.49 d) Unallocated 673.14 702.56 658.61 673.14 658.61 552.47 Total Liabilities 4441.08 4598.03 3695.12 4441.08 3695.12 3955.93 Consumer & Bazaar segment (C&B) covers sale of products mainly to end consumers which are retail users such as carpenters, painters, plumbers, mechanics, households, students, offices, etc. Sale consists of mainly adhesives, sealants, art and craft materials and construction and paint chemicals. Business to Business (B2B) covers sale of products to end customers which are mainly large business users. This includes Industrial Products (IP) such as adhesives, synthetic resins, organic pigments, pigment preparations, construction chemicals (projects), surfactants, etc. Others mainly include sale of raw materials. Unallocable corporate assets and Unallocable corporate liabilities mainly represent investment in subsidiaries, investments of surplus funds, cash & bank balances and tax assets & liabilities.
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• Plciilite STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT 30.09.2026 Rs in Crores Sr No Particulars As at As at 30.09.2026 31.03.2026 Unaudited Audited A ASSETS 1 Non-Current Assets (a) Property, Plant and Equipment 2330.81 2182.23 (b) Right of Use Assets 367.49 386.38 (c) Capital Work-In-Progress 299.62 327.29 (d) Goodwill 1184.83 1184.85 (e) Other Intangible Assets 1493.40 1503.25 (f) Financial Assets (i) Investments 1202.17 1197.71 (ii) Loans 88.50 30.21 (iii) Other Financial Assets 33.54 45.75 (g) Income Tax Assets (net) 207.18 180.76 (h) Other Non-Current Assets 70.23 53.20 Total Non Current Assets 7277.77 7091.63 2 Current Assets (a) Inventories 1782.00 1540.57 (b) Financial Assets (i) Investments 3545.83 3730.17 (ii) Trade Receivables 2486.69 1864.83 (iii) Cash and Cash equivalents 54.05 139.58 (iv) Bank balances other than (iii) above 2.50 2.57 (v) Loans 28.31 25,56 (vi) Other Financial Assets 34.78 30.58 (c) Other Current Assets 256.07 195.81 Total Current Assets 8190.23 7529.67 TOTAL ASSETS 15468.00 14621.30 B EQUITY AND LIABILITIES EQUITY (a) Equity Share Capital 101.85 101.78 (b) Other Equity 10925.07 10563.59 Total Equity 11026.92 10665.37 LIABILITIES 1 Non-Current Liabilities (a) Financial Liabilities (i) Lease Liabilities 182.21 208.97 (ii) Other Financial Liabilities 13.26 10.27 (b) Provisions 126.32 125.23 (c) Deferred Tax Liabilities (net) 392.75 401.98 Total Non-Current Liabilities 714.54 746.45 2 Current Liabilities (a) Financial Liabilities (i) Lease Liabilities 71.28 66.70 (ii) Trade Payables - Total Outstanding Dues of Micro Enterprises and Small Enterprises 80.54 68.83 - Total Outstanding Dues of Creditors other than Micro Enterprises and Small Enterprises 1385.27 1347.34 (iii) Other Financial Liabilities 1500.99 1375.00 (b) Other Current Liabilities 220.90 78.52 (c) Provisions 281.22 248.87 (d) Current Tax Liabilities (net) 186.34 24.22 Total Current Liabilities 3726.54 3209.48 Total Liabilities 4441.08 3955.93 .0 -.- TOTAL EQUITY AND LIABILITIES ,- /- .------. Gi 15468.00 14621.30
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.....••••••••%, Pld STANDALONE STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30.09.2026 Rs in Crores Far the Six Months ended Particulars 30.09.2026 Unaudited 30.09.2025 Unaudited A] Cash Flows from Operating Activities Profit before tax 1961.76 1659.14 Adjustments for: Finance costs 21.79 20.38 Interest income (13.16) (3.07) Dividend income (69.80) (19.14) Loss on disposal of Property, Plant and Equipment 0.22 0.22 Net gain arising on financial assets designated at FVTPL (128.84) (122 33) Allowance for Doubtful Debts and Advances (net) 12 41 11.21 Provision in respect of write down of inventories 23.05 15 76 Liabilities no longer required written back (0.49) (0.16) Depreciation and Amortisation Expense 172.21 168.20 Unrealised foreign exchange (gain)/loss (net) (1.41) 0 73 Provision for Employee Benefits 2.97 7.63 Other Provisions 30.15 12.42 Equity-Settled Share-Based Payments 55.13 61 46 Operating Cash Flows before Working Capital changes 2065.99 1812.45 Movements in Working Capital: (Increase)/Decrease in Operating Assets Trade Receivables (640.91) (316.17) Inventories (264.48) 154.64 Non-Current Loans (0.60) 1.58 Current Loans (0.47) (3.52) Other Non-Current Financial Assets 12.22 0.51 Other Current Financial Assets (13.02) (5.43) Other Non-Current Non Financial Assets (1 34) 0.57 Other Current Non Financial Assets (60.27) 46.68 Increase/(Decrease) in Operating Liabilities Trade Payables 58.07 (67.70) Other Current Financial Liabilities and provision 119.59 (35.30) Other Current Non Financial Liabilities 142.39 54.98 Cash flows generated from Operations 1417.17 1643.29 Taxes paid (net of refunds) (358.35) (309 44) Net Cash flows generated from Operating Activities [A] 1058.82 1333.85 El] Cash Flows from Investing Activities Payments for purchase of Property, Plant and Equipment, Right of Use Assets, Other (266.14) (260.50) Intangible Assets & Capital Work-In-Progress Proceeds from disposal of Property, Plant and Equipment & Other Intangible Assets 0 03 0.36 Cash outflow on investment in Subsidiaries (14 00) (8 03) Payments to purchase Investments (4046.13) (2958 52) Proceeds on sale of Investments 4370.30 3324 30 Loan given to Associate • (5 48) Loans given to Subsidiaries (61.34) Loans repaid by Subsidiary 1.37 0.47 (investment in)IRedemption of Bank Deposits (0 06) 0.02 Decrease/ (Increase) in Other Bank Balances 0.07 (0.91) Interest received 18.58 3.07 Dividend received 69.80 19.14 Net cash flows generated from Investing Activities [B] 72.48 113.92 C] Cash Flows from Financing Activities Proceeds From Exercise Of Share Options 0.36 0.52 Expenses on Bonus issue of equity shares - (0.62) Principal payment of Lease Liabilities (34 16) (20.59) Interest payment of Lease Liabilities (11.32) (11.60) Dividends paid on Equity Shares (Final Dividend) (1170.55) (1016.73) Dividends paid on Equity Shares (Interim Dividend) - (508.37) Interest paid other than lease liabilities (1.16) (0.94) Net cash flows used in Financing Activities [C] (1216.83) (1558.33) Net decrease in Cash and Cash Equivalents [A+13+C] (85.53) (110.56) Cash and Cash Equivalents al the beginning of the period 139.58 212.06 Unrealised loss on foreign currency cash and cash equivalents 0.02 0.02 Cash and Cash Equivalents at the beginning of the period 139.60 212.08 Cash and Cash Equivalents at the end of the period 54.05 101 50 Unrealised loss on foreign currency cash and cash equivalents 0.02 0 02 Cash and Cash Equivalents at the end of the period 54.07 101.52 Net decrease In Cash and Cash Equivalents (85.53) (110.56) * denotes amount less than 0.01 Crore Notes: The above Standalone Statement of Cash Flows has been prepared under the 'Indirect Method' as set out in the Indian Accountin Standard (IND AS 7) - Statement of Cash Flows 14th Boo Centra18% and Korth C . linte tit Wivin g rotiway, StF an). ism 80553
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Pidilite Notes 1. The unaudited standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 28th October 2026 2. The Statutory auditors have carried out a "Limited Review" of the unaudited standalone financial results for the quarter and six months ended 30th September 2026 and have issued an unmodified opinion. 3. The unaudited standalone financial results of the Company have been prepared in accordance with Indian Accounting Standards ("Ind AS") notified under Section 133 of the Companies Act, 2013 ('Act') read with Companies (Indian Accounting Standards) Rules, 2015, as amended. 4. Exceptional items for the year ended ended 31st March 2026 represent the following: i) Impairment loss of Rs 7.55 crores on loan given to an associate of a wholly owned subsidiary and on investment in a subsidiary. 5. As approved by the Members of the Company at the Annual General Meeting held on 4th August 2026, the Company has paid a final dividend of Rs 11.50/- per equity share of the face value of Re. 1/- each aggregating to Rs 1,170.46 Crores for the FY 2025-26. 6. The Company has allotted 89,340 equity shares on 21st August 2026 and 660,480 equity shares on 18th September 2026 of face value of Re. 1/- each under Employee Stock Option Plan - 2016 to the employees of the Company, to whom the options were granted. 7. The Company granted options of 144,270 equity shares on 27th October 2026 of face value of Re. 1/- each under Employee Stock Option Plan - 2016. FOR AND ON BEHALF OF THE BOARD OF DIRECTORS Mumbai Dated : 28th October 2026 SUDHANSHU VATS Managing Director DIN: 05234702 -4-
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B S R & Co. LLP Chartered Accountants 14th Floor, Central B Wing and North C Wing Nesco IT Park 4, Nesco Center Western Express Highway Goregaon (East), Mumbai — 400 063, India Telephone: +91 (22) 6257 1000 Fax: +91 (22) 6257 1010 Limited Review Report on unaudited consolidated financial results of Pidilite Industries Limited for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of Pidilite Industries Limited 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Pidilite Industries Limited (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax and total comprehensive income of its associates and joint venture for the quarter ended 30 September 2026 and year to date results for the period from 01 April 2026 to 30 September 2026 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). 2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting' ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the entities as mentioned in Annexure I. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Registered Office B S R & Co. (a oarther,t,p tern with Registration No. BA61223) converted into B S R & Co LLP (a 14th Floor, Central B Wing and North C Wel Nesco IT Park 4, Nesco Limited Liability Partnership vmh LLP Registration No, AAB-81131) with effect from October 14,2013 Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 5
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B S R & Co. LLP Limited Review Report (Continued) Pidilite Industries Limited 6. We did not review the interim financial information of two Subsidiaries included in the Statement, whose interim financial information reflects total assets (before consolidation adjustments) of Rs. 399.89 crores as at 30 September 2026 and total revenues (before consolidation adjustments) of Rs. 157.30 crores and Rs. 293.57 crores, total net profit after tax (before consolidation adjustments) of Rs. 20.64 crores and Rs. 42.72 crores and total comprehensive income (before consolidation adjustments) of Rs. 18.34 crores and Rs. 39.88 crores, for the quarter ended 30 September 2026 and for the period from 01 April 2026 to 30 September 2026 respectively, and net cash inflows (before consolidation adjustments) of Rs. 10.20 crores for the period from 01 April 2026 to 30 September 2026 as considered in the Statement. The Statement also include the group's share of net profit after tax of Rs. 4.48 crores and Rs. 7.03 crores and total comprehensive income of Rs. 4.48 crores and Rs. 7.02 crores, for the quarter ended 30 September 2026 and for the period from 01 April 2026 to 30 September 2026 respectively as considered in the Statement, in respect of two associates, whose interim financial information / interim financial results have not been reviewed by us. These interim financial information / interim financial results have been reviewed by other auditors whose reports have been furnished to us by the Parent's management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and associates, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of this matter. 7. The Statement includes the interim financial information of thirty Subsidiaries which have not been reviewed, whose interim financial information reflects total assets (before consolidation adjustments) of Rs. 1,336.37 crores as at 30 September 2026 and total revenues (before consolidation adjustments) of Rs. 156.28 crores and Rs. 299.77 crores, total net profit after tax (before consolidation adjustments) of Rs. 20.98 crores and Rs. 61.74 crores and total comprehensive income (before consolidation adjustments) of Rs. 25.40 crores and Rs. 63.49 crores, for the quarter ended 30 September 2026 and for the period from 01 April 2026 to 30 September 2026 respectively, and net cash inflows (before consolidation adjustments) of Rs. 36.99 crores for the period from 01 April 2026 to 30 September 2026 as considered in the Statement. The Statement also includes the Group's share of net profit after tax of Rs. 0.44 crores and Rs. 0.23 crores and total comprehensive income of Rs. 0.44 crores and Rs. 0.22 crores, for the quarter ended 30 September 2026 and for the period from 01 April 2026 to 30 September 2026 respectively as considered in the Statement, in respect of five associates and a joint venture, based on their interim financial information which have not been reviewed. According to the information and explanations given to us by the Parent's management, these interim financial information are not material to the Group. Our conclusion is not modified in respect of this matter. For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-1Q0022 udhir Soni Partner Mumbai Membership No.: 041870 28 October 2026 UDIN:26041870HKNAJI5283 Page 2 of 5
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B S R & Co. LLP Limited Review Report (Continued) Pidilite Industries Limited Annexure I List of entities included in unaudited consolidated financial results. Sr. No. Name of the entity Relationship 1 Pidilite Industries Limited Parent 2 Fevicol Company Limited Subsidiary 3 Bhimad Commercial Company Private Limited Subsidiary 4 Pidilite Ventures Private Limited Subsidiary 5 Pagel Concrete Technologies Private Limited Subsidiary 6 Building Envelope Systems India Limited Subsidiary 7 Nina Percept Private Limited Subsidiary 8 Hybrid Coatings Subsidiary 9 Pidilite International Pte. Ltd. Subsidiary 10 Pidilite Middle East Limited Subsidiary 11 Pargro Investments Private Limited Subsidiary 12 Pidilite USA Inc. Subsidiary 13 Pidilite MEA Chemicals LLC Subsidiary 14 PT Pidilite Indonesia Subsidiary 15 Pidilite Speciality Chemicals Bangladesh Pvt Ltd Subsidiary 16 Pidilite Innovation Centre Pte Ltd Subsidiary 17 Pidilite Industries Egypt SAE Subsidiary 18 Pidilite Bamco Limited Subsidiary 19 Pidilite Chemical PLC Subsidiary Page 3 of 5
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B S R & Co. LLP Limited Review Report (Continued) Pidilite Industries Limited 20 PIL Trading (Egypt) Company Subsidiary 21 Pidilite Industries Trading (Shanghai) Co., Ltd. Subsidiary 22 Bamco Supply and Services Ltd Subsidiary 23 ICA Pidilite Private Limited Subsidiary 24 Pidilite Lanka (Private) Limited Subsidiary 25 Nebula East Africa Private Limited Subsidiary 26 Nina Lanka Construction Technologies (Pvt) Ltd Subsidiary 27 Pidilite Ventures LLC Subsidiary 28 Pidilite East Africa Limited Subsidiary 29 Pidilite Litokol Private Limited Subsidiary 30 Pidilite Grupo Puma Manufacturing Limited Subsidiary 31 Nina Percept (Bangladesh) Pvt. Ltd (voluntary liquidated w.e.f. 19 August 2026) Subsidiary 32 Pidilite C-Techos Walling Limited Subsidiary 33 Tenax Pidilite India Private Limited Subsidiary 34 Solstice Business Solutions Private Limited Subsidiary 35 Pidilite Insignia Limited (w.e.f. 24 February 2026) Subsidiary 36 Vinyl Chemicals (India) Limited Associate 37 Aapkapainter Solutions Private Limited Associate 38 Kaarwan Eduventures Private Limited Associate 39 Imagimake Play Solutions Private Limited (w.e.f. 17 October 2025) Associate Page 4 of 5
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B S R & Co. LLP Limited Review Report (Continued) Pidilite Industries Limited 40 Buildnext Construction Solutions Private Limited (upto 24 June 2026) Associate 41 Finemake Technologies Private Limited (upto 30 September 2026) Associate 42 Constrobot Robotics Private Limited Associate 43 Pidilitepuma MEA Chemicals LLC Joint Venture Page 5 of 5
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14111 Central 8 tiDah lit: Western Muni „riso•'ave.., Pidilite PIDILITE INDUSTRIES LIMITED REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalal 8ajaj Marg, 208, Nariman Point, Mumbai - 400 021 Tel No 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : investor.relations@pidilite.co in Website : www.pidilite.com CIN : L24100MH1969PLC014336 STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30.09.2026 Rs In Crores Sr. No. Particulars Fo the Quarter ended For the Six Months ended For the year ended 30.09.2026 30.06.2026 30.09.2026 30.09.2026 30.09.2026 31.03.2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Income a) Revenue from Operations 4297.59 4551.55 3554.44 8849.14 7307.54 14600.83 b) Other Income 64.59 92.00 50.16 156.59 135.87 266.18 Total Income 4362.18 4643.55 3604.60 9005.73 7443.41 14867.01 2 Expenses a) Cost of materials consumed 1896.09 1879.44 1351.14 3775.53 2743.80 5620.81 b) Purchases of stock-in-trade 332.50 235.96 222.03 568.46 429.02 898.54 c) Changes in inventories of finished goods, stock-in-trade and work-in-progress (17.71) 2 76 24.98 (14.95) 147.08 (30.30) d) Employee benefits expense 511.09 515.29 470.72 1026.38 934.92 1941.22 e) Finance costs 12.70 13.34 13.28 26.04 27.05 54.22 I) Depreciation, Amortisation and Impairment Expense 100.06 97.29 99.95 197.35 196.63 394.71 g) Other expenses 698.14 724.21 634.84 1422.35 1261.01 2651.56 Total Expenses 3632.87 3468.29 2816.94 7001.16 5739.51 11530.76 3 Profit before Share of profit/(toss) of Associates and Joint venture and 829.31 1176.26 787.66 2004.57 1703.90 3336.25 Tax (1-2) 4 Share of profit / (loss) of Associates and Joint Venture (net of tax) 4.92 2.32 (0.35) 7.24 (0.12) (2.37) 5 Profit before Exceptional Items and Tax (3+4) 834.23 1177.58 787.31 2011.81 1703.78 3333.88 6 Exceptional items (Refer note 3 and 4) - (14.41) - (14.41) - 13.71 7 Profit before tax (6-6) 834.23 1191.99 787.31 2025.22 1703.78 3320.17 8 Tax Expense Current tax 226.59 300.73 212.58 527_32 443.49 846.13 Deferred tax (18.82) 7,75 (9.87) (11.07) (2 44) 3.32 9 Profit for the period (7-8) 626.46 883.51 684.60 1509.97 1262.73 2470.72 Attributable to: Shareholders of the Company 614.53 872 41 579.23 1486 94 1251 64 2448 92 Non Controlling Interest 11.93 11.10 5.37 23 03 11.09 21.80 10 Other Comprehensive Income Items that will not be reclassified to profit or loss 4.65 (0 56) (3 91) 4.09 (7 82) (19.51) Income tax relating to items that will not be reclassified to profit or loss (0.68) 0.11 0.96 (0.57) 1 92 2.80 Items that will be reclassified to profit or loss 4.01 (0.46) 15.23 3.55 17.59 40 94 Total Other Comprehensive Income 7.98 (0.91) 12.28 7.07 11.69 24.23 Attributable to: Shareholders of the Company 7.81 (0.49) 12.00 7.32 11 42 23.65 Non Controlling Interest 0.17 (0.42) 0.28 (0.25) 0.27 0.58 11 Total Comprehensive Income for the period (9+10) 634.44 882.60 596.88 1617.04 1274.42 2494.95 Attributable to: Shareholders of the Company 622.34 871 92 591.23 1494 26 1263.06 2472.57 Non Controlling Interest 12.10 10.68 5.65 22.78 11.36 22.38 12 Paid-up Equity Share Capital (Face value of share : Re. 11-) 101.85 101.78 101 77 101.85 101.77 101.78 13 Other Equity 10730.39 14 Earnings per'equlty share in Rs. a) Basic @ 6.04 @ 8.57 @ 5.69 @ 14.61 @ 12.30 24.07 b) Diluted @ 6.03 @ 8.55 @ 5.68 @ 14.58 @ 12.27 24.01 0) Far the period only and not annualised See accompanying Notes to unaudited Consolidated Financial Results
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14et Flcor, CuOal 61Y-9 Noftli Pidilite CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER AND SIX MONTHS ENDED 30.09.2026 Rs in Crores Sr. No. Particulars For the Quarter ended For the Six Months ended For the year , ended 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Segment Revenue a) Consumer & Bazaar 3423 57 3680.58 2836 51 7104 15 5843.21 11573.75 b) Business to Business 912.59 917.76 761.31 1830.35 1567 94 3211.10 c) Others 25 37 21 84 14 13 47 21 28 84 60 55 Total 4361 53 4620.18 3611.95 8981,71 7439 99 14845 40 Less : Inter Segment Revenue 63 94 68.63 57 51 132.57 132 45 244 57 Revenue from Operations 4297.59 4551.55 3554.44 8849.14 7307.54 14600.83 2 Segment Results a) Consumer & Bazaar 900 13 1190.53 857 48 2090 66 1803.25 3546.30 b) Business to Business 114.14 172.75 115.75 286.89 248.64 529.31 c) Others (1.47) (1.23) (2.55) (2.70) (3.19) (9.28) Total 1012.80 1362.05 970.68 2374.85 2048.70 4066.33 Less i) Finance Costs ii) Otner Unallocable Expenditure net of 7.24 8.10 9.55 15.34 19.21 36.16 Unallocable Income 176.25 178.69 173 47 354.94 325.59 693.92 Share of profit I (loss) of Associates and Joint Venture (net of tax) 4.92 2 32 (0.35) 7,24 (0.12) (2.37) Profit Before Exceptional Item and Tax 834.23 1177.58 787.31 2011.81 1703.78 3333.88 Exceptional Items (gain)iloss (14A1) (14.41) 13.71 Profit before tax 834.23 1191.99 787.31 2026.22 1703.78 3320.17 3 Segment Assets a) Consumer & Bazaar 9217.82 9040.86 7892.20 9217 82 7892.20 8341.12 b) Business to Business 2440.16 2400.53 2199.62 2440.16 2199.62 2306-67 c) Others 48.82 45.24 28.62 48.82 28.62 46.55 d) Unallocated 4522.09 5476.88 3777 06 4522.09 3777.06 4738.55 Total Assets 16228.89 16963.51 13897.50 16228.89 13897.50 15432.89 4 Segment Liabilities a) Consumer & Bazaar 3348 08 3412.50 2766.59 3348 08 2766,59 2986.78 b) Business to Business 775 38 881.61 712.19 775 38 712 19 841.91 c) Others 3 44 3 60 4.32 3 44 4.32 3.08 d) Unallocated 673.12 702.56 658.61 673 12 658.61 552.47 Total Liabilities 4800.02 5000.27 4141.71 4800.02 4141.71 4384.24 Consumer & Bazaar (C&B) covers sale of products mainly to end consumers which are retail users such as carpenters, painters, plumbers, mechanics, households, students, offices, etc. Sale consists of mainly adhesives, sealants, art and craft materials and construction and paint chemicals. Business to Business (B2B) covers sale of products to end customers which are mainly large business users This includes Industrial Products (IP) such as adhesives, synthetic resins, organic pigments, pigment preparations, construction chemicals (projects), surfactants, etc. Others mainly include sale of raw materials and operations of Non Banking Finance Company. Unallocable corporate assets and Unallocable corporate liabilities mainly represent investment of surplus funds, cash and bank balances and tax assets and liabilities.
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...•••••• Pidilite CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT 30.09.2026 Rs in Crores Sr No Particulars As at 30.09.2026 As at 31.03.2026, Audited Unaudited A ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 2651.44 2515.30 (b) Right of Use Assets 406.24 415.42 (c) Capital Work-In-Progress 303.02 328.87 (d) Goodwill 1287.97 1287.04 (e) Other Intangible Assets 1544.65 1555.87 (f) Investments accounted for using equity method 141.26 166.22 (g) Financial Assets (i) Investments 313.94 263.56 (ii) Loans 7.39 6.78 (iii) Other Financial Assets 40.62 52.02 (h) Deferred Tax Assets (net) 34.73 34.03 (i) Income Tax Assets (net) 218.94 193.13 (j) Other Non-current Assets 103.81 82.77 Total Non Current Assets 7054.01 6901.01 2 Current Assets (a) Inventories 2012.92 1737.60 (b) Financial Assets (i) Investments 3675.70 3919.83 (ii) Trade Receivables 2793.79 2181.10 (iii) Cash and cash equivalents 193.38 232.49 (iv) Bank balances other than (iii) above 16.32 66.41 (v) Loans 51.34 37.36 (vi) Other Financial Assets 56.95 39.05 (c) Other Current Assets 374.48 318.04 Total Current Assets 9174.88 8531.88 TOTAL ASSETS 16228.89 15432.89 B EQUITY AND LIABILITIES EQUITY (a) Equity Share Capital 101.85 101.78 (b) Other Equity 11110.13 10730.39 Equity attributable to owners of the Company 11211.98 10832.17 Non-Controlling Interests 216.89 216.48 Total Equity 11428.87 11048.65 LIABILITIES 1 Non-Current Liabilities (a) Financial Liabilities (i) Lease Liabilities 194.78 219.45 (ii) Other Financial Liabilities 13.26 10.27 (b) Provisions 158.80 156.50 (c) Deferred Tax Liabilities (net) 402.80 412.65 Total Non-Current Liabilities 769.64 798.87 2 Current Liabilities (a) Financial Liabilities (i) Borrowings 50.83 105.91 (ii) Lease Liabilities 105.12 91.85 (iii) Trade Payables - Total Outstanding Dues of Micro Enterprises and Small Enterprises 97.90 90.56 - Total Outstanding Dues of Creditors other than Micro Enterprises and Small Enterprises 1459.43 1446.07 (iv) Other Financial Liabilities 1586.64 1461.92 (b) Other Current Liabilities 233.17 97.01 (c) Provisions 296 86 257.62 (d) Current Tax Liabilities (net) 200.43 34 43 Total Current Liabilities 4030.38 3585.37 Total Liabilities 4800.02 4384.24 TOTAL EQUITY AND LIABILITIES 1,./ 5";:67....9._----7: 16228.89 15432.89 sth Central 9 1%4 tin; le -k Hesce " Nor ‘t' Vt'f,ityn
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As at 30.09.2026 As at 30.09.2025 Cash and Cash Equivalents comprises of Cash and Cash Equivalents 193.38 251.55 Less: - Bank overdrafts "e r'-'.. W.,"67:N : 16.55 32.28 176.83 219.27 10 Pldttlte CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30.09.2026 Rs in Croras For the Six Months ended Particulars 30.09.2026 30.09.2025 Unaudited Unaudited Al Cash Flows from Operating Activities Profit before tax 2026.22 1703.78 Adjustments For: Share of (prof-IQ/loss from Associates and Joint Venture (net of tax) (7.24) 0.12 Finance costs 26.04 27.05 Interest income (16.93) (5.56) Loss on disposal of Property, Plant and Equipment 0.24 0.52 Net gain arising on financial assets designated at FVTPL (132.84) (126.26) Allowance for Doubtful Debts and Advances (net) 15,46 17.62 Liabilities no longer required written back (0.88) • Provision in respect of write down of inventories 30.19 23.25 Depreciation, Amortisation and Impairment Expense 197.35 196.63 Unrealised Foreign Exchange Gain (net) (1.43) (18.02) Provision for Employee Benefits 8.36 10.17 (Write Back)/ Provision of Warranties (0.42) 0.77 Exceptional Items (14.41) • Other Provisions 33 09 11.96 Equity-Settled Share-Based Payments 55.18 61.53 Operating cash flows before Working Capital changes 2,217.99 1903.56 Movements In Working Capital: (IncreaSe)IDecrease In Operating Assets Trade Receivables (630.65) (335.66) Inventories (303.15) 160.03 Non-Current Loans (0.61) 1.58 Current Loans (14.73) (0.14) Other Non-Current Financial Assets 11.69 16.51 Other Current Financial Assets (7.90) (36.66) Other Non-Current Non Financial Assets (5.26) (0.37) Other Current Non Financial Assets (57.05) 80.17 Increase/(Decrease) in Operating Liabilities Trade Payables 27 70 (65.08) Other Current Financial Liabilities and provision 110 98 (28.45) Other Curren! Non Financial Liabilities 136 16 63.57 Cash flows generated from Operations 14135.16 1759.06 Taxes paid (net of refunds) (387.05) (324_68) Net Cash flows generated from Operating Activities [A] 1098.11 1434A0 B] Cash Flows from Investing Activities Payments for purchase of Property, Plant and Equipment, Right of Use Assets, Other (264.68) (288.70) Intangible Assets & Capital Work-In-Progress Proceeds from disposal of Property, Plant and Equipment & Other Intangible Assets 0.03 0.35 Cash outflow on investment in Associate & Joint venture (21.79) (7.01) Payment to purchase Investments (4045.08) (2997.74) Proceeds on sale of Investments 4430.22 3373.22 Redemption of/(investment in) Bank Deposits 49.84 (1.22) Increase in Other Bank Balances (0.04) (0.31) Interest received 16.93 5.56 Loans given to Associate - (5.60) Dividend received from Associate 521 5.21 Net cash flows generated from Investing Activities [8) 170.64 83.76 Cl Cash Flows from Financing Activities Proceeds from issue of Equity shares of the Parent Company 0.36 0.52 Expenses on Bonus issue of equity shares - (0.62) Principal payment of Lease Liabilities (34.15) (20.44) interest payment of Lease Liabilities (12.51) (12.71) Net Decrease in Current Borrowings (57.34) (0.45) Payment to Non Controlling Interest (net) (22.37) (1137) Dividends paid on Equity Shares (Final Dividend) (1170.55) (1016.73) Dividends paid on Equity Shares (Interim Dividend) - (508.37) Interest paid other than lease laibilities (13.53) (14.34) Net cash flows used in Financing Activities [C] (1.310,09) (1.585.51) Net decrease In Cash and Cash Equivalents (A+B+C) (41.34) (67.35) Cash and Cash Equivalents al the beginning of the period 218.20 286.62 Unrealised gain on foreign currency cash and cash equivalents (0.01) (0.01) Cash and Cash Equivalents at the beginning of the period 218.19 286.61 Cash and Cash Equivalents at the end of the period 176.83 219.27 Unrealised loss/(gain) on foreign currency cash and cash equivalents 0.02 (0.01) Cash and Cash Equivalents at the end of the period 176.85 219.26 Net decrease in Cash end Cash Equivalents (41.34) (67.35) Notes: The above consolidated statement of Cash Flow has been prepared under the 'Indirect Method' as set out in the Indian Accounting Standard (IND AS 7) - Statement of Cash Flows.
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• .40"14, Pidilite Notes: 1 The unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 28th October 2026. 2. The above unaudited consolidated financial results of Pidilite Industries Ltd. ("The Company" or "Parent Company"), and its subsidiaries (Parent Company and it's subsidiaries together referred as "the Group"), and its associate companies and its joint venture for the quarter ended and six months ended 30th September 2026 have been prepared in accordance with Indian Accounting Standards ("Ind AS") notified under Section 133 of the Companies Act, 2013 ('Act') read with Companies (Indian Accounting Standards) Rules, 2015, as amended. The Statutory auditors have carried out a "Limited Review" of the above financial results for the quarter and half year ended 30th September 2026 and have issued a unmodified opinion,The Company has a total of 33 subsidiaries (including one partnership firm), 5 associates and a joint venture as on 30th September 2026 3, Exceptional items for the half year ended 30th September 2026 represent the following: i) Pidilite Ventures Private Limited ("PVPL"), a wholly owned subsidiary of the Parent Company, completed the transfer of its entire investment in BuildNext Construction Technologies Private Limited ("BuildNext"), an associate of the Group, to JSW One Platforms Limited pursuant to a Share Swap Agreement. The transaction resulted in a gain of Rs 14.41 crores. 4 Exceptional items for the year ended 31st March 2026 represent the following: i) Impairment loss on investment by the Group in an associate amounting to Rs 7.98 crores ii) Impairment loss on loan given by the Group to associate companies amounting to Rs 5.73 crores 5. As approved by the Members of the Parent Company at the Annual General Meeting held on 04th August, 2026, the Parent Company has paid a final dividend of Rs 11 50/- per equity share of the face value of Re. 1/- each aggregating to Rs 1,170.46 Crores for the FY 2025-26. 6 The Parent Company has allotted 89,340 equity shares on 21st August 2026 and 660,480 equity shares on 18th September 2026 of face value of Re. 1/- each under Employee Stock Option Plan - 2016 to the employees of the Group, to whom the options were granted. 7. The Parent Company granted options of 144,270 equity shares on 27th October 2026 of face value of Re. 1/- each under Employee Stock Option Plan - 2016. FOR AND ON BEHALF OF THE BOARD OF DIRECTORS Mumbai Dated : 28th October 2026 VATS Managing Director DIN:05234702