Pidilite: Quick commerce, e-commerce now contribute 15% of consumer business, says Sudhanshu Vats – Storyboard18

ADVERTISEMENTQuick commerce and e-commerce now account for around 15% of Pidilite Industries’ Consumer & Bazaar business, with the channels recording growth of over 100%, according to Sudhanshu Vats, managing director of Pidilite Industries. The disclosure comes as the Fevicol maker reported double-digit revenue and volume growth in the September quarter, with digital commerce emerging as an increasingly relevant route to reach urban consumers with newer product offerings.“Quick commerce, the channel is continuously doing very well. We are seeing more than 100% growth in this channel,” Vats said, adding that the business had been doubling its growth in the channel over the past three to four years, including the current year.He said e-commerce and quick commerce were more relevant to Pidilite’s consumer-facing business than its B2B operations, given the latter’s higher-volume requirements. The company did not disclose the absolute revenue contribution of online channels or provide a split between digital and offline sales.The online channels are particularly relevant for Pidilite’s consumer brands and product innovations. Vats cited products and brands including Fevicol’s consumer range, Fevicryl colours, Mr DIY? [remove if not confirmed], and products such as Fevikwik, No More Nails and Stain Off as examples of offerings that can benefit from digital commerce. The company also sells art and stationery products, including its Fevicryl range, through these channels.Revenue growth outpaces operating profit expansionPidilite reported standalone net sales of ₹3,982 crore in Q2 FY27, up 21.7% year on year from ₹3,272 crore in the corresponding quarter last fiscal. Underlying volume growth (UVG) stood at 10.7%, indicating that sales expansion was supported by higher volumes alongside other revenue drivers.However, the increase in sales did not translate into comparable growth in operating earnings. Standalone EBITDA rose 0.5% to ₹811 crore from ₹807 crore a year earlier, while the EBITDA margin contracted to 20.4% from 24.7%. Profit after tax increased 10.4% to ₹647 crore from ₹586 crore.On a consolidated basis, net sales grew 21.1% to ₹4,285 crore from ₹3,540 crore. EBITDA increased 3.1% to ₹878 crore from ₹851 crore, while the EBITDA margin declined to 20.5% from 24%. Consolidated PAT rose 7.1% to ₹626 crore from ₹585 crore.The results reflect the pressure on profitability despite sustained sales growth, with elevated material costs weighing on operating performance.Consumer & Bazaar leads revenue growthPidilite’s Consumer & Bazaar (C&B) business recorded revenue growth of 20.7% to ₹3,198 crore in Q2 FY27, compared with ₹2,650 crore in the year-ago quarter. Underlying volume growth in the segment stood at 11.1%.C&B earnings before interest and tax (EBIT) rose 2.5% to ₹841 crore from ₹821 crore, while the EBIT margin declined to 26.3% from 31%.The B2B business reported an 21.8% increase in revenue to ₹820 crore from ₹673 crore, with underlying volume growth of 9.2%. However, segment EBIT fell 3.4% to ₹115 crore from ₹119 crore, and the EBIT margin narrowed to 14.1% from 17.7%.Commenting on the quarterly performance, Vats pointed to broad-based double-digit underlying volume growth and revenue expansion of more than 20%, while acknowledging the challenging operating environment and high material inflation.The company has said that timely pricing actions and disciplined cost management helped it manage input cost pressures during the first half of FY27. For the six months ended September, standalone net sales rose 22% to ₹8,219 crore, while EBITDA increased 14% to ₹1,932 crore and PAT grew 19.5% to ₹1,477 crore. The standalone EBITDA margin for the period stood at 23.5%, compared with 25.2% a year earlier.Pidilite manufactures adhesives, sealants, construction chemicals and art and craft products, with Fevicol among its key consumer brands. Its business spans the Consumer & Bazaar and B2B segments, serving both individual consumers and industrial customers. The latest results show continued growth across both businesses, while the increasing contribution of digital commerce to its consumer operations highlights the changing mix of channels through which the company reaches customers.ADVERTISEMENTThe conversation highlighted a fundamental shift underway in the relationship between audiences, platforms and brands. 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