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Pidilite Industries Limited (PIDILITIND) Fair Value & Analysis

Basic Materials · IN · Market cap ₹1.6T

PI Pidilite Industries Limited PIDILITIND · NSE
Price₹1,686
Fair Value₹351.84
Upside-79.1%
Quality74/100
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Healthy Growth
Solidly profitable · 16.8% net margin
Low debt · generates free cash flow
0.74% dividend yield
Mixed vs. peers (8/14)
Wide moat 79/100
Evidence: High Range ₹263.59 – ₹536.41 Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 22 days ago

Share price +4.2% over the past month.

A solid business, but screening 79% overvalued on our models.

What matters now

  • A high-quality business (quality 74/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (₹536.41). The favourable scenario is already priced in.
  • A fairly wide model range (₹263.59 to ₹536.41) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹1,686 ₹842.67 Fair Value ₹351.84 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range ₹842.67 – ₹1,686 · fair‑value band ₹263.59 – ₹536.41 · the ₹1,686 price screens above the ₹351.84 fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Pidilite Industries Limited (PIDILITIND) currently trades at ₹1,686, while our model-based Fair Value estimate is ₹351.84, implying the stock looks roughly 79.1% overvalued today. We read business quality at 74/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Pidilite Industries Limited generated revenue of ₹146B at a net margin of 16.8%. Revenue grew 14.1% year over year. It earns a return on equity of 23.5%. Net debt stands at ₹1.2B. Fundamentals as of Jul 16, 2026

Our scenario range runs from ₹263.59 (bear case) to ₹536.41 (bull case); at ₹1,686, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 34% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at -79%, PIDILITIND screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ₹301.57 ₹544.71 ₹985.17 80
Residual Income ₹156.71 ₹193.65 ₹652.24 76
Rev-Margin DCF ₹267.84 ₹465.17 ₹721.19 74
All 26 models by family
DCF Models
FCF DCF ₹303.11 ₹564.36 ₹1,043 38
Owner Earnings ₹305.88 ₹569.53 ₹1,052 31
5Y Revenue Exit ₹267.84 ₹470.42 ₹746.20 39
5Y EBITDA Exit ₹316.20 ₹570.52 ₹890.94 41
5Y P/E Exit ₹326.96 ₹592.79 ₹898.41 38
10Y Revenue Exit ₹268.18 ₹468.10 ₹776.17 36
10Y EBITDA Exit ₹310.07 ₹543.32 ₹900.63 37
10Y P/E Exit ₹317.38 ₹560.06 ₹907.06 35
Earnings-Based
Graham-Dodd ₹163.62 ₹768.84 ₹1,057 54
Lynch FV ₹203.63 ₹290.90 ₹378.17 50
PEG = 1.0 ₹203.63 ₹290.90 ₹378.17 46
EPV ₹233.70 ₹274.43 ₹310.62 59
Dividend Discount
Gordon GGM ₹144.22 ₹314.86 ₹529.77 70
DDM Multi-Stage ₹144.22 ₹257.92 ₹328.14 61
Multiples
P/E Multiple ₹360.92 ₹481.22 ₹601.53 63
P/S Multiple ₹268.98 ₹358.64 ₹448.30 58
P/B Multiple ₹239.46 ₹319.28 ₹399.11 55
EV/EBIT ₹427.14 ₹568.54 ₹709.94 53
EV/EBITDA ₹347.12 ₹461.85 ₹576.57 54
EV/Revenue ₹253.99 ₹361.58 ₹469.17 43
Asset-Based
NCAV (Graham) ₹53.21 ₹71.31 ₹106.43 50
Growth DCF
Growth DCF ₹301.57 ₹544.71 ₹985.17 80
Rev-Margin DCF ₹267.84 ₹465.17 ₹721.19 74
Economic Profit
Residual Income ₹156.71 ₹193.65 ₹652.24 76
ROIC Compounder ₹268.21 ₹365.93 ₹495.15 72
Growth Earnings
Growth-Adj P/E ₹313.94 ₹448.48 ₹583.02 68

Widest divergence: DCF Models (₹560.06) versus Asset-Based (₹71.31). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) ₹146B
Revenue growth (YoY) +14.1%
Net margin 16.8%
Return on equity 23.5%
Free cash flow ₹22.3B FY2026
P/E ratio 61.3
More key figures
Operating margin 21.1%
EPS (TTM) ₹24.07
Dividend yield 0.8%
EPS growth (YoY) +37.3%
Net debt ₹1.2B FY2026

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 69 · Market factors (momentum, volatility) 75

Profitability 76
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 49
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Pidilite Industries Limited, together with its subsidiaries, engages in the manufacture and sale of various chemicals in India and internationally. The company operates through the Consumer & Bazaar, and Business to Business segments.

Full company description

Pidilite Industries Limited, together with its subsidiaries, engages in the manufacture and sale of various chemicals in India and internationally. The company operates through the Consumer & Bazaar, and Business to Business segments. The Consumer & Bazaar segment offers adhesives, sealants, art and craft materials; and construction and paint chemicals for carpenters, painters, plumbers, mechanics, households, students, and offices. The Business to Business segment provides industrial adhesives, synthetic resins, construction chemicals, organic pigments, pigment preparations, and surfactants for various industries, including packaging, joineries, textiles, paints, printing inks, paper, and leather. It is also involved in the sale of raw materials. The company sells its products under the Fevicol, Fevicol MR, Dr. Fixit, Fevikwik, M-Seal, Fevistick, Fevicryl, Fevigum, Rangeela, WD-40, MOTO MAX, Terminator, WUDFIN, HAI SHA, steelgrip, Araldite, Roff, TENAX, UNITINT, fevitite, HOLDTITE LEAKGUARD, D-klog, Zorrik-88, Stainoff, BRITE-SUPER, Piditint, Fevibond, FALCOFIX, and BLUECOAT brands. Pidilite Industries Limited was founded in 1959 and is based in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Pidilite Industries Limited reported revenue of ₹146B in FY2026 versus ₹99.2B in FY2022, a compound +10.1%/yr. Reported net income was ₹24.5B in FY2026, compounding +19.3%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹146B
Latest YoY
+11.1%
Avg. growth/yr (3Y)
+7.4%
Avg. growth/yr (5Y)
+14.9%
Avg. growth/yr (21Y)
+15.0%
Revenue +10.1%/yr
FY22 ₹99.2B
FY23 ₹118B
FY24 ₹124B
FY25 ₹131B
FY26 ₹146B
Net income +19.3%/yr
FY22 ₹12.1B
FY23 ₹12.7B
FY24 ₹17.3B
FY25 ₹20.8B
FY26 ₹24.5B

PIDILITIND screens 79% overvalued. Compare with Linde plc →

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Cite: Fair Value Calculator (2026). "Pidilite Industries Limited Fair Value". https://www.fairvalue-calculator.com/stock/PIDILITIND

Peer Group

Specialty Chemicals · 680 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 74 · Top 25%
Fair Value upside −79% · Bottom 25%
Return on equity (TTM) 24% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) 21% · Top 25%
Revenue growth 14% · Above median
Dividend yield (TTM) 0.7% · Below median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 65.5× · Pricier than 75% of peers
P/B 14.74× · Pricier than 75% of peers
P/S (TTM) 10.94× · Pricier than 75% of peers
P/FCF 0.8× · Cheaper than median
EV/EBITDA 46.4× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 71 · sector 19
PAST 94 · sector 23
HEALTH 100 · sector 95
DIVIDEND 15 · sector 24

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $520.74 $226.27 -57%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%
Gujarat Fluorochemicals Limited FLUOROCHEM ₹4,132 ₹836.47 -80%

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Frequently asked questions

Is Pidilite Industries Limited (PIDILITIND) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of ₹351.84 versus a price of ₹1,686, about −79% (overvalued).
What is the fair value of PIDILITIND?
Our model-based fair value for Pidilite Industries Limited is ₹351.84 (as of Jul 16, 2026), built from audited fundamentals. The current price is ₹1,686.
What is the quality score of PIDILITIND?
Pidilite Industries Limited has a Quality Score of 74/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Pidilite Industries Limited (PIDILITIND)?
Pidilite Industries Limited reported trailing-twelve-month revenue of about ₹146B (latest available figure, as of Jul 16, 2026).
What is the net profit margin of PIDILITIND?
The net profit margin of Pidilite Industries Limited is about 16.8%, meaning it keeps roughly 16.8% of revenue as net income. Based on the latest reported figures.
Does Pidilite Industries Limited pay a dividend?
Pidilite Industries Limited currently shows a dividend yield of about 0.78% relative to its recent price (as of Jul 16, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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